The metaverse is a growing concept that is gaining a lot of popularity as a result of advancements in technology and digitization over the recent years. Metaverse can be defined as a space which is a collective shared space where people from all around the world can interact with one another in a computer generated environment through digital representations or avatars of themselves. As a popular new concept, virtual reality is the environment that can be conveniently accessed through computers, or by wearing headsets or by using smartphones among other devices. The metaverse has been known to be a result of the evolution of the Internet through which users can engage and interact with one another and the digital object in an even more intriguing and impressive manner. It has gained a lot of popularity through science fiction. Nevertheless, at present, the concept of the metaverse and virtual reality are being used in different forms for various purposes as the metaverse makes the entire process of socialising and work fascinating by providing its users with leisure, entertainment and profitable productive experience, all at once.
As the concept of metaverse as an upcoming culture and practice continues to grow, the use of metaverse in itself has expanded from being limited or restricted to the entertainment gaming activities to business purposes. To elaborate, an example to strengthen the claim of metaverse’s expansion from a gaming or virtual space to a virtual community would be of the CEO of Facebook, Mark Zuckerberg, who introduced himself through the metaverse. At present, with the growing opportunities and easy accessibility to the enormous virtual space called the metaverse and its feature of attracting and communicating with a large number of people from around the world is also being used by a lot of marketers with the central aim of expanding their businesses and customer base.
The internet provides its audience with several articles and researches on the topic of the different ways in which marketers can use the platform and concept of metaverse to attract more people and modify their work. That is, it promotes the various methods through which businesses and users at large can work on their quality of interacting within the metaverse community in accordance with the real physical community to sustain and expand.
However, before marketers indulge in the practice of using and penetrating through the metaverse to increase or modify their opportunities, it is necessary for them to understand what metaverse really is and get a strong, in-depth information and knowledge about the services, features and tools that metaverse comprises and offers. Similar to launching a product or service into a new market, it is necessary for the marketers to understand and look at metaverse as any other platform or space. The above is a necessary step in order to study the opportunities, threats, weaknesses and strengths of the metaverse as a new space to grow and can further be analysed by marketers. This will help the marketers make a correct and an ideal decision with reference to their purpose and the use of metaverse as a new space.
The very first step for marketers to consider metaverse as their new market space would be to understand what metaphors really are and how it actually works. That is, acknowledging the fact that the virtual shared community space, the metaverse, is a complex system and a different platform which in turn has different norms and rules. The marketers should educate themselves regarding the ethical and functioning operations of metaverse as a platform and should later plan the market penetration strategy after being accustomed to the community that they want or wish to engage, expand and penetrate.
Metaverse in its core essence is about community thus it is necessary for marketers to focus and think on lines with reference to dealing with a community. They should prioritise building relationships with users and should focus on creating and crafting experiences that are engaging, fun and valuable to the users instead of limiting themselves to pushing and promoting products or services.
Secondly, metaverse in its existence is a virtual, shared and a complex system yet to be completely explored. Thus, the possibilities of using metaverse in different ways are endless. Metaverse can help digital marketers embrace creativity to a large extent. They should find reliable data and conduct extensive research related to the various and unique ways through which they can contact and engage with different users. For example, digital marketers can launch products that are exclusively only on metaverse, can schedule virtual events and create experiences that attract more clients.
Similar to other social media platforms, influencers are considered to be a powerful motivator and force even in the metaverse. Leveraging influencers would be considered to be a good step for marketers when considering expanding to the metaverse virtual space. For this, they can partner with influencers that in turn will help marketers reach larger, new audiences, create credibility and increase validity among the existing users and unexplored customer base on metaverse. For this, marketers would have to identify influencers that align with their brand goals and values, and help them create engaging content.
Another important factor that is necessary for digital marketers to consider in order to be successful on the domain of the metaverse would be to be as transparent as any other marketing campaign. Campaigns on metaverse should also be transparent. Transparency would be considered as the ideal key as the marketer should be precise and clear with reference to their goals and intentions. Digital marketers, or the marketers in general, should be upfront in matters of any partnerships or sponsorships, authenticity and honesty are highly valued and the users are likely to give a more positive response when brands are transparent.
Before expanding to any new platform for business or personal purposes, it is necessary to understand the ethical consequences and protocol of the new space. Metaverse might be a shared virtual community based space but it is a highly personal, protected and private space. Similar to other physical spaces and platforms, the users are extremely protective of their privacy. In order to ensure that no ethical or privacy related policies are breached or overlooked, the marketers should be mindful of the fact that the data collected and personal information being used or displayed should be performed with adherence to a protocol and in a responsible manner.
Conclusion
It can be said that the increasing popularity of the metaverse as a virtual shared community would give businesses and digital marketers enormous opportunities to grow and expand their customer base, drive sales and profits. The above mentioned are some of the dominant features and concerns that the digital marketers should study and analyse before they launch themselves on metaverse. An extensive research about the platform would help digital marketers succeed in their purpose.
