HOW YOUR MARKETING TEAM CAN MAKE THE MOST OUT OF THE META-VERSE

While the specifies of the change have yet to be released it’s widely assumed that the name change is related to a VR (virtual reality) version of Facebook called Horizon. Horizon has been undergoing developments for the past few years and it seems to be Zuckerberg’s aim to create a new framework of technology beyond social media as we currently know it. If you’re unfamiliar with the concept of virtual reality, it’s a virtual world to which people can escape to using technology. The concept of life being beyond what we know it as life on Earth can be mindboggling and that might be why VR has yet to break into the mainstream, but it seems that it might finally be time.

What are the Meta-verses implications for marketing?

Social-media users are year-after-year consistently spending more time on these digital platforms but with the introduction of VR, users may spend an exponentially larger amount of time using these platforms due to its nature of being able to replace real-life experiences. These longer digital interactions mean there will be more data to be analysed from users, especially if Zuckerberg is correct about the new world being able to simulate any real-life experiences. Apple’s new restrictions on third-party cookies may have limited what data companies are able to harvest from online users but these restrictions may not apply to the Meta-verse. The ethics and restrictions within this new world are yet to be fully disclosed but many companies will be on the watch for them.

Data isn’t the only potential for marketing growth, this new platform could provide a whole new platform for users to view advertisements or interact with new forms of marketing, as we know them. Essentially, the meta-verse is a new marketing channel and potentials are quite literally, limitless. Virtual users could be attending virtual venues and viewing video content advertisements from virtual cinemas, pubs and concerts. Users could try goods that were previously only able to be evaluated through real-life experience such as physically trying on shoes or clothing. Users could go to virtual shopping complexes and fitting rooms to purchase through the meta-verse and then receive their real-life goods on their doorstep the very next day! This new opportunity will entirely redefine how companies can interact with their customers. Advertisements nowadays are increasingly becoming more significant, engaging, meaningful and immersive and where real-life advertisements or even traditional digital advertisements fail to fulfil this, the meta-verse could be the saving-grace to every struggling marketer.

Okay... We know about the Meta-verse but what now?

Now, what does this mean for marketers? It means that the skills the most successful marketers have now may not be the same skills the most successful marketers have when the Meta-verse takes off. Marketers need to be technologically savvy (more so than now), creative and imaginative, in a realm with no bounds, those with an imagination and creativity to utilize the vast landscape of the Meta-verse will succeed. Most importantly though, marketing teams need to get a grasp and start planning for the Meta-verse to become one of, if not the most important and valuable marketing channel. Whilst the Meta- verse is yet to be released, now is the most important time for marketers to start gaining a competitive edge over their competitors before you’re wondering where everyone’s gone.

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