How can brands use the Metaverse to sell products?
Let us introduce you to the Metaverse, the next big thing that is coming to shake up the digital ecosystem. Metaverse is a virtual universe where you can conceptualise, create and maintain an entire world, an in which you can seamlessly merge your physical world experiences for a truly out-of-this-world experience. It will be an amalgamation of all virtual worlds with augmented reality and, of course, the Internet. Virtual reality experts forecast that millions people worldwide will increasingly use Virtual Reality and Artificial Reality for re-imagining their digital experience and taking their digital journey to an altogether different level. Today’s internet is built on fixed broadband, while the Metaverse will be built on a dynamic combination of a 5G network, artificial intelligence and edge cloud processing. This will make it easier to successfully deliver smoother, enjoyable and cost-efficient AR and VR experiences to users across multiple connected devices all at once.
Just like the internet explosion powered electronic commerce or e-commerce, the Metaverse will create the world of v-commerce or virtual Commerce. Digital experts are predicting that the metaverse will be a catalysts for all brands to compulsorily create their virtual presence for selling to a virtually connected customer base. Leading consumer brands have already begun the process of creating interactive virtual communities, content pieces, product assets and immersive experiences for selling to their virtually enabled and connected customers. The metaverse will have it’s own economy, buying environment, currency and customer behaviour. It will make product discovery, personalisation and fulfillment possible in the shortest possible time with the most convenient and hassle-free experience. The metaverse promises a seamless virtual shopping experience shifting from channel to channel, cardless payments, hyper-personalisation of products.
As part of their digital marketing strategy for the metaverse, marketers should unlock the power of new technologies by layering virtual reality with augmented reality and artificial intelligence. Brands will now need to completely rethink their communication and sales narratives in three dimensions, instead of their regular two dimensional marketing strategies.
For example, a cosmetics brand will have to create an avatar which will demonstrate product usage in a third dimension to their prospective customers, while a real estate brand can actually let their buyers walk through in person across the entire property, from the comfort of their home. Creating an altogether different content strategy which engages an audience for whom virtual reality will become a second home, is going to be the biggest challenge.
Marketers should initiate an audit of their current content strategy and evaluate how it can repositioned for the metaverse with AR, VR, and 3D experiences into the product marketing and sales plans.