The metaverse can take branding to a whole new reality, and innovative virtual experiences will be your ticket.
The concept of a metaverse may seem too ambitious, extravagant and contemporary. But economists know it’s going to be big. Bloomberg Intelligence analysts predict that it may be an $800 billion market opportunity.
Here are three things you can do to build your brand (and make it stand out) in the metaverse.
Plan Branding Experiences For The Metaverse
Branding opportunities in the metaverse aren’t exclusively for big-name brands with virtually bottomless pockets.
Small businesses—from startups to individual content creators—can build their “metaverse footprint” by planning rich, immersive digital experiences for their audience.
Mary Spio, the founder of Ceek, told Forbes that the metaverse “will enable content creators to connect with audiences in a whole new way.” For example, in an immersive virtual reality metaverse, you can join friends and step into a movie, feel the rush of your favorite team running by you, spend time up close and personal with your favorite bands and enjoy live concerts, sports and more.
With some creativity, the opportunities for brands, regardless of size, are virtually limitless. You can do presentations and events in a virtual space; do one-on-one virtual consultations; take online courses to new, virtual heights and more. And if you’re doing Facebook Live auctions, think metaverse auctions with NFTs—using cryptocurrencies as payments.
There are no rules when it comes to the virtual experiences you can create. But as the global launch of the metaverse grows closer, the spectrum between good and bad branding ideas is becoming more clearly defined.
Wait And Check The Competition
At this point, and with emerging trends related to the metaverse in every corner, it’s still too early to commit to a single idea.
The good news is, adopting the metaverse isn’t supposed to be a race—at least, not yet.
Brands can still afford to be mere observers of early adopters who are boldly entering the metaverse early. Of course, you can fashion ideas from big brands who have already made strides, such as Coca-Cola and their metaverse auction of branded NFT collectibles.
Another advantage of being a late adopter is that you can launch more refined versions of what pioneering brands have created. As you watch competitors have their go at tackling this new space, you can sit back, watch and take notes on how you can iron out the creases.
Know Where You Stand
Before you set your sights on the metaverse reality, it’s critical to stay grounded and collected.
What key branding objectives can be solved by taking a more drastic approach to digital transformation? How much of your audience will actually spend time in the metaverse—and for how long?
As you plan your entrance to the metaverse, it’s important to have a sense of clarity on what areas of your brand could use some innovation. Rich digital experiences can, after all, be integrated almost everywhere in the system, from content creation to post-sales.
Virtual reality presentations can be plugged into your lead nurturing cycle, whereas metaverse-powered customer support will help you build loyalty.
The metaverse can also have a huge internal impact on businesses. It can help you offer more engaging staff training and coaching programs—creating employees who sparkle with your brand’s identity.
It’s all just a question of need. With the metaverse looming in the distance, the key is to have a vision for the future without sweeping current objectives under the rug.
Reports still show that not a lot of people are familiar with the metaverse. Despite this, it’s surely coming.