Since the rebrand of Zuckerberg’s Facebook to ‘Meta’, interest in ‘the metaverse’ has skyrocketed. But what is it? Why are brands investing in the metaverse, and does marketing in the metaverse represent the future or a passing fad?
Although the technology behind the metaverse has been present for some time now, over 92% of businesses believe that the COVID-19 pandemic accelerated the development of metaverse technologies and boosted consumer and business interest. Virtual spaces were suddenly a lifeline to a world beyond the confines of the home.
The B2C sector has enjoyed early success in experimenting with the metaverse. Brands as diverse as Nike, Coca-Cola, Pretty Little Thing, Disney and Hyundai have all pushed their marketing efforts with innovative campaigns that have captured the imagination of customers worldwide. But where does this leave B2B brands?
How can B2B brands fit into the metaverse, and more importantly, what does the future of digital marketing look like?
In this TechTalks, we welcomed panellists to discuss everything you need to know about digital marketing for B2B brands in the metaverse.
Joining our host Kinga Kusak:
In simple terms, the metaverse is a simulated virtual environment that uses augmented reality (AR) and artificial intelligence (AI) to provide interactive experiences for its users. Metaverse technology can be used in gaming, working, learning, shopping, and so much more.
The idea behind the metaverse is to break down borders and bring the world together to experience a new, much more connected reality.
Did you know that 60% of marketers confessed they have no prior knowledge about the metaverse? As the metaverse continues to grow, understanding it and using it as a marketing tool can give your brand a competitive edge.
“See the metaverse as just another social space. Look at how your brand will exist in a virtual space. Observe where customers are coming from and whether they’ll be engaged. It’s very similar to other social media platforms in that sense.”
- Ben Fryer, Co-Founder of Diverse Interactive.
The most important factors that come into play when considering using the metaverse are budget and audience.
Every business has a marketing budget that limits its spending capacity.
If you’re a start-up and struggling to find funding to launch a metaverse campaign, then it’s okay to use traditional marketing methods to build your brand. Metaverse experiments can come later.
“The metaverse is just another channel to market. If you're a startup and want to stand out, then the metaverse is definitely a platform to bring a unique insight into your brand.
However, this doesn't mean traditional marketing methods are dead. You can still use email marketing or content marketing to help build your visibility and draw in customers.”
- Samuel Hall, CEO and Co-Founder of Mixed Reality Rooms.
Is your target audience using the metaverse or likely to try it out in the near future?
B2B brands need to know their target audience, their pain points, and how to cater to them.
As we move towards a marketing era with a ‘serve not sell’ mentality, it's vital that marketers identify where their target audience is to best cater to their needs.
User experiences are becoming more advanced and intricate, with new technologies like the metaverse set to revolutionise how we use the internet.
The B2B tech marketers that will enjoy the most success will endeavour to keep up with the pace of change, adapting based on where their audiences are today and where they’re likely to be in future.
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