The Impact of The Metaverse on Digital Marketing

February 19, 2024

Metaverse can be defined simply as a system of interconnected 3D virtual worlds that are linked together in a virtual universe. It is the future where all kinds of online interaction will take place. It’s a place where you can learn, shop, explore, attend events, advertise, and visit the office. Yes! A virtual office.

A Metaverse would be a combination of virtual and augmented reality along with Blockchain & social media. Metaverse, not to get confused with Meta (parent company of Facebook, WhatsApp, etc.), is being pursued by many companies these days.

Currently, the Metaverse market size is around $55.0 billion. It is expected to grow at a compounded annual growth rate (CAGR) of 36.71% and is estimated to be around $490.4 billion by 2030 [source: Statista]. Metaverse could have an impact on over 80% of the businesses by 2030. In fact, as of today, there are more than 400 million unique average monthly users around the world active on Metaverse.

Current Possibilities:

1. Virtual Stores

One of the best Metaverse trends is virtual marketing. If you own a shop, all you need to do is create a 3D virtual store in the Metaverse & you are good to go. You can ask people to browse & shop for their favorite products without physically coming to the store.

A virtual shop will enable you to sell across different states & regions without investing heavily in setting up an actual store. Isn’t that great? And to add to it, you can customize your shop interior virtually, add colors, and make it match your own physical store.

And for those of you who like to shop, you can browse as many stores as you want to pick up your favorite product. To create such unique digital marketing features, contact us today.

2. Virtual Ads

If you are a business owner, you know the pain of not selecting & campaigning at the right time. By the time you gather data, print ads, shoot them, and broadcast, it is already done & done. So, how can you stay ahead in the game without breaking the bank? The answer is – by following the Metaverse trends.

You see…you can display ads virtually on various platforms, such as your social media profiles, but so do others. What you can do here is design an ad and place it in the virtual reality world. Here, people who will come to browse will see your ad. Virtual ads can be designed to be interactive & engaging.

Read More: Why is Social Media More Than Just a Trend?

You can showcase what your brand stands for and your excellent service and features that are your unique selling point (USP) directly to the customers. To get creative ads for your products & services, contact Egnoto Pvt. Ltd., your very own reliable digital marketing partner.

Some Examples Of Virtual Ads Can Be –

  • Taking a virtual test drive,
  • Applying a shade of makeup to see which looks good on you,
  • Virtual try-on clothing,
  • Virtual interior décor,
  • Try virtual paints on your walls before buying one, etc.

3. Virtual Events

Do you hate standing in line to collect show tickets? Well, not only is your precious time wasted, but you also have to reach the venue on time, check-in, go through security checks, and reach there via your car or public transport. That sounds like a lot of work to do just to get entertained. But not anymore…

By organizing virtual events, you can sell tickets, ask people to come to a virtual venue, gather around & enjoy. Not to mention, you can also choose your avatar, choice of clothes, shoes, colors & much more. All of these are Metaverse trends that are pretty popular.

4. Virtual Education

Interactive education content can be accessible from any part of the world. This will help new education techniques & methodologies reach every corner of the world faster. Students will get hands-on experience by using a virtual classroom.

Complex topics like math, algebra, or calculus can be taught in an interactive way. Dangerous experiments like chemical reactions from the chemistry lab can be shown to students virtually to reduce the chances of any mishaps in the lab.

Overall, a virtual classroom would be an excellent place for students across various locations to gather, share & gain collective knowledge. If you find this intruding, reach out to us for digital marketing assistance.

5. Virtual Real Estate & Collectible

The virtual platform can be used as a mirror world where you can buy assets and collectibles just like the real world. You must have already seen this kind of setup in 3D video games. A mirror world will mimic the physical entity in a virtual world setting. This will allow you to navigate freely from one place to another.

Future Possibilities:

1. Web 3.0

Are you still working on old SEO techniques, visitor enhancement, conversion rates, shares & likes? These old methods might not be relevant in the near future. Metaverse trends would be different and showcase new & creative marketing strategies. This will open new windows of opportunity for brands to create their own virtual signature space.

Not to mention, the cost of hardware needed for virtual reality is also declining. So, get on the boat & start developing digital marketing tricks for the future. One such way of doing it is to hire a digital marketing partner like Egnoto Pvt. Ltd..

We understand that living in the present is the best way to live. However, planning for the future is also crucial to surviving in this challenging, competitive market.

2. Platform Independence

You are not limited to one virtual world. The term Metaverse stands for many versions of virtual worlds. Some of them are – extended reality, virtual reality, augmented reality, mixed reality, mirror world, etc. According to the Pew Research Center, 54% of experts believe that by 2040, Metaverse will be refined, fully immersive & a part of everyday life for billions of people.

Platform dependency is currently a huge problem. But with the new Metaverse, it would be a matter of the past. For example, you can easily switch between channels within seconds.

3. Privacy & Security

You can create your digital avatar and browse any section of the virtual world. All interactions can be face-to-face without wasting any time. A decentralized digital world will have privacy and security of paramount importance. Right now, the rules are at ease, but they won’t remain the same in the future.

Since more and more people will get on board with the Metaverse trends, it is evident that proper regulation & punishment for identity theft & misuse will also become challenging. This will be done through data regulation, sound governance, and the prevention of misinformation.

In The Final Analysis:

Whether this whole Metaverse thing has any future hope or is just hype only, time will tell. However, with a reliable digital marketing partner, you can rest assured that your business’s online presence will be up to date and flow with the current trend. To implement positive growth into your business and fuel it with upcoming trends & technologies, contact us.

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