Brands are thinking about the metaverse in the wrong way. Why? Because the way we scale and engage new communities is changing.
Traditional channels engage traditional audiences, but brands that are serious about reaching new audiences are putting the metaverse at the heart of their marketing strategies, today.
Take Gucci, Roblox and the virtual bag that re-sold at a higher price than its real-life counterpart. These brands are winning in the metaverse because they see it for what it is: A new communication vertical that demands a long-term strategy.
Winning brands also recognise that the advertising model has changed. We’re moving from in-game advertising - which, like any form of media buying, is a cost to the business - to creator economies where the sale of digital goods is at the heart of revenue generation.
Entering the metaverse: Key questions for brands to consider
Why do we want to enter this space?
Where is the audience we're trying to reach?
How do we express brand values authentically?
Are we looking to digitally innovate?
Are we looking to drive sales of digital goods?
Do we want to boost awareness with new audiences?
Good PR can no longer be the core objective of a brand entering these spaces. The hype is over, the metaverse is here to stay. This is performance marketing, not media buzz, and brands that fail to see this are set to miss out, or at best, be forced to play catch-up. So how do you measure your metaverse success?
Download the report and start measuring your success.