According to data, the metaverse has a market size of over $38.5 billion. Despite being a relatively new concept in retail, metaverse stores show tremendous potential to boost the sales and profits of brands that market and sell in the virtual world.
However, this brings a new marketing challenge. Brands that employ clever metaverse marketing strategies will triumph over the competition and command a more significant market share and control. But how can you be one of the best-performing in the virtual world shopping landscape?
Some strategies you can employ include using virtual brand assets, providing immersive experiences, placing your virtual store on your website’s homepage, and incorporating successful real-world marketing strategies in your metaverse store.
Here’s a look into metaverse marketing and the clever strategies you can use to yield great results for your brand.
What is Metaverse Marketing?
Metaverse marketing uses the metaverse to sell and connect with customers. Metaverse marketing works in an immersive and interactive environment where your brand can virtually connect with its customers with unlimited engagement.
Metaverse marketing differs from traditional marketing because it offers customers an interactive and immersive experience. Customers can explore and interact with your brand and products in a unique way that’s impossible in the real world.
For instance, a customer may be able to try out your product without having to buy it, regardless of their physical location globally. Therefore, they become confident that your product will fit them right.
6 Ways You Can Draw More Customers to Your Metaverse Store
The following six strategies are some of the best ways to draw customers to your metaverse store through metaverse marketing.
Incorporate Successful Real-World Marketing Strategies
Brands marketing in the metaverse don’t have to start their campaigns from scratch. Most successful real-world marketing techniques work flawlessly within the metaverse.
For instance, influencer marketing works well in the metaverse and the real world. You can partner with influencers in the metaverse to promote your brand, who typically also have a sizeable real-life following that they can direct to your metaverse store.
Influencer marketing builds consumer trust while exposing your brand to a large, relevant audience.
Content marketing, SEO, email marketing, and social media marketing can also yield great results when used in metaverse marketing.
Integrate Your Brand Natively in the Metaverse
Users don’t like being interrupted in the middle of their metaverse experiences by an ad. Therefore, your metaverse marketing should be naturally integrated within the metaverse experience to yield the best results.
Your metaverse store should be highly visible for users to find it easily. You also want your brand to be represented within the metaverse consistently as in the real world.
Some ways you can natively integrate your brand within the metaverse include:
- In-Game Advertising – Most metaverse users currently are gamers. Therefore, you can reach a large audience by integrating your ads in popular metaverse games without interrupting their gaming experience.
- Virtual stores – You can open a virtual store within the metaverse to sell your products. Brands such as P&G have partnered with us to create virtual stores and showrooms where users can visit for exclusive deals, limited edition products, and immersive shopping experiences.
- Virtual events – Hosting virtual events in the metaverse is a smart marketing strategy that doesn’t take away from the primary experience of most metaverse users. Brands like Gucci and Coca-Cola have adopted this strategy with great success, reaching a significant number of metaverse users with their campaigns.
Utilize Available Metaverse Ad Placements
Most metaverses have spaces for metaverse marketing that brands can use to reach their target audience. Metaverse ad placements work as they do in the real world. There are streets, high-rise buildings, virtual plots, and several other spaces where your brand can place a banner or an ad advertising its virtual store.
You can buy billboards, signs, and posters on virtual bus stops to set up ads and drive traffic to your metaverse store.
Place Your Virtual Store on Your Website’s Homepage
Where you place your metaverse store will significantly dictate how much traffic it will attract. Since you have a website that can attract a high volume of visitors, you want to place your virtual store on the homepage so that you can redirect most of your website traffic to it.
Users should be able to access the metaverse store in one click. Placing it in another location apart from the homepage will force users to search for it, reducing its visibility and leading to fewer visitors.
This is one of the key features of our virtual stores. They can be easily integrated into websites, ensuring your brand can convert website traffic into virtual store traffic.
Use Virtual Brand Assets
The metaverse allows brands to own distinctive assets essential in metaverse marketing. These assets typically include virtual reality (VR) objects and non-fungible tokens (NFTs).
NFTs are unique digital assets that can’t be replicated. Because they’re unique and impossible to replicate, your brand can consistently use them to represent itself within the metaverse.
These NFTs and VR objects can showcase products you’re working on, selling, or passing unique brand messages about your core values and what your products should represent.
Sell Virtual Goods to Digital Avatars
Online identities are a powerful metaverse concept. Metaverse users and shoppers use avatars to represent their identities and uniqueness in the virtual world. According to data, 92% of users find this customization useful and integral to their metaverse experience.
Your brand can make sales and market to metaverse users by selling virtual goods that their digital avatars can use. Also known as the direct-to-avatar (D2A) economy, companies can sell their goods directly to metaverse avatars through accessories, virtual outfits, or weapons used in-game.
Balenciaga is one example of a brand that has taken this approach, partnering with Fortnite to create virtual apparel, accessories, and weapons that can be purchased in-game. The company makes a profit while enjoying a great marketing platform for its other products.
Find a Partner Who’ll Help You Create Immersive Virtual Store Experiences
Metaverse marketing will separate the best and worst-performing brands in the metaverse. You should find ways to incorporate direct-to-avatar selling, build virtual brand assets, and use traditional marketing techniques to boost your brand in the metaverse.
Talk to us today, and let us create a winning metaverse framework for your brand.