Digital Marketing In The Metaverse

The metaverse became a buzzword when Facebook rebranded its corporate identity to Meta in October 2021 and announced plans to invest at least $10 billion in the concept that year. In addition to Meta, tech giants including Google, Microsoft, Nvidia, and Qualcomm are investing billions of dollars in the concept too. Management consultancy McKinsey & Company has bullishly predicted that the metaverse economy could reach $5 trillion by 2030.

So the metaverse also becoming an essential sector for marketing and it's an exciting new frontier for digital marketing. Companies can create immersive experiences for their customers in this virtual world.

Here are some possibilities for digital marketing in the metaverse:

1. Sponsored events: Companies can sponsor events or experiences in the metaverse to get their brand in front of a targeted audience. But they can also organize their own client events to show their latest products virtually. The benefit is that theoretically there's no limitation on the number of attendees and it's possible to create completely new and even science-fiction-like environments.
2. Virtual stores: Companies can create virtual storefronts in the metaverse where users can browse and purchase their products. Customers have the option to try out digital items and see them within a fully 3D world. And the social element of the metaverse means that friends can come along to give their impression of a new look. Some companies benefit by tying their online and offline market together.
3. Virtual branded experiences: Companies can create virtual experiences that immerse users in their brand, such as virtual reality theme parks or interactive exhibits. Very different brands have built very creative experiences in the metaverse for their customers already. It’s also pretty interesting to see that a lot of brands are creating hybrid projects, making a bridge between real-life products, services, and events, and virtual ones.
4. Virtual influencer marketing: As virtual influencers are totally computer-generated individuals, brands can easily incorporate them into any virtual environment. Customers in the metaverse will be able to join their favorite influencers there, which could further strengthen their trust and thus create new opportunities for emotional connections with brands. So, companies can work with virtual influencers to promote their brand in the metaverse. And maybe in the future, it could be also possible to combine programmatic advertising with virtual influencers in the metaverse.
5. In-game advertising: This is maybe the easiest use case for digital marketing in the metaverse. For games that are set in the metaverse, companies can advertise their products within the game world. As we already know from e-games.

Conclusion

The metaverse is here to stay! So, let's start to talk about digital marketing in the metaverse because it's getting important soon. The list above is for sure not complete and only the beginning. But overall, the key to successful digital marketing in the metaverse is to create engaging, interactive, immersive experiences that resonate with users and drive brand awareness.

What do you think? Do you have some more ideas? Please leave your feedback on digital marketing in the metaverse in the comments. Thanks!

About the author:

Bj?rn Radde?is Vice President Digital Experience at?T-Systems International?- one of the world's leading vendor-independent providers of digital services. Before he joined T-Systems he was Director Digital Experience at Sabre and Vice President?Digital Marketing at Trust International. In this role, he was worldwide responsible for all digital marketing products?of the company. Previously, Bj?rn was Director of Digital Marketing & E-Commerce at Okanda, an internet startup in the meeting's business, and Head of E-Commerce at the Steigenberger Hotel Group. After studying economics with a focus on online marketing and e-commerce, he initially worked at T-Online International AG and later at Deutsche Telekom AG within the Products & Innovation business unit.