What You Need To Know About Marketing In The Metaverse

Marketing Metaverse tCSA

There are quite a few people who believe that the latest internet shift is already well underway: the metaverse. A lot of brands are wondering what the metaverse really is and whether they should be a part of it. Thinking about how to navigate this new frontier, even knowing where to start can be daunting.

The basic idea of the metaverse includes any digital experience on the internet that is immersive, three-dimensional (3D), and virtual. Think of it as a mix of virtual and augmented realities. Metaverse experiences offer us the opportunity to play, work, connect or buy (real or virtual). Each entity that creates a virtual world does so with its own access, membership, monetization rights, and formats of creative expression, so the business and technical specifications vary widely. This allows the metaverse to be essentially limitless.

Basically, the metaverse would be the next iteration of the internet and the social media world, with a few points of difference:

  • Users can log in via virtual reality (VR); this opens up new brand engagement possibilities, from trying out apparel to exploring a piece of real estate.
  • Users will be equipped with a digital wallet in the metaverse, which makes purchase transactions more seamless.
  • Users will be able to teleport freely around the metaverse so that they can participate in groups and join (and pay for) events anywhere in the world.
  • Users will engage in a new kind of storytelling experience aided by 360° videos and 3D modeling, which means advertising is going to transform.

For some businesses, the metaverse will be another channel in their marketing mix and a prominent one at that. Entertainment and gaming companies leading the way and already shaping the metaverse landscape. Major console and PC gaming titles, like Fortnite, have normalized playing and socializing with people in virtual settings. The immersive virtual environment of the metaverse isn’t just an opportunity for consumer-facing companies and products. From training future surgeons to rolling out product demos to retail employees, there are plenty of business applications the metaverse offers. 

So what should your brand be doing about the metaverse? Brands should always be in a test-and-learn mode in the digital landscape. The metaverse is potentially the next iteration of how humans use the internet to connect, communicate and transact. Here is how you can begin:

Experiment with AR

First and foremost, play around with Augmented reality (AR). It is set to change shopping experiences by allowing users to visualize clothing products in real-time. Learn AR by being a user first. It becomes easier to market on a platform when you understand it.

Targeting

Is your target audience spending time in the metaverse? Who are your target demographics, and what behaviors are trending with your current and prospective consumers right now that are indicators of how fast to move into the metaverse? Brands focusing on younger demographics probably don’t have the luxury of sitting out the metaverse for long. 

Choose the Right Platform

Whether it’s mobile, PC, console, or streaming, your platform should increase your reach while still aligning with your brand. Mobile games, for example, can reach more casual gamers, while PC and console games can gain more traction with mid-core gamers. Aside from virtual billboards in digital sports stadiums, in-game apps also include video, music, and banner ads. Choose a format with which your product can identify. 

Parallel Your Marketing

Transitioning into the metaverse doesn’t necessarily mean that you have to do everything differently. A good starting point when entering the metaverse is to replicate what you offer in real life and parallel it in the virtual world. It’s not only a natural method to enter the metaverse but also an authentic way for users to notice your brand.

Partner with Creators

Teaming up with online game universes like Fortnite will help you create virtual possessions that can naturally fit into the gaming experience. Otherwise, you can use 3D and AR platforms with open marketplaces to create wearable and tradeable digital garments. The Fabricant Studio is a viable choice if you have no prior knowledge of 3D software.

Create Immersive Experiences

Experiential marketing is one of the most important drivers of customer engagement. Studies show that brands who focus on building experiences gain 25% more brand loyalty than those who don’t. Offering an immersive experience takes audiences out of their comfort zone. This can impact their perspective of your brand and help you create long-lasting bonds with them.

While the metaverse is the future, don’t stop focusing on today. Most importantly, people in brand marketing or leadership roles should start thinking about how to unleash their creativity and their storytelling. Have questions on how your brand can enter the metaverse? Contact us today.

Digital Marketing Trends to Know in 2022

digital marketing trends

Have you developed your marketing plan of attack for this year? Where are you going to spend your time and what are you going to do when you get there? If you haven’t developed a new strategy, fear not. We compiled a list of 8 trends you need to be aware of this year. 

The Metaverse

The future is here. The next ‘phase’ of the internet is here, the metaverse – a place where virtual reality and augmented reality mix. Facebook officially changed its name to Meta to correlate with this future. While creating a name for the parent company is logical, the choice is what matters. This is a big bet on the future of the web. Given the metaverse’s limitless real estate, companies are bound to look to fill its three dimensions with their logos and products. Marketers should begin to look for opportunities for their businesses in these spaces.

Influencers

Influencer marketing is set to reach $13.8 billion in 2021 and continue to grow, even for B2B. Influencer campaigns inherently provide context and relevance since the influencer is endorsing the product. This gives brands the opportunity to have everyday customers sell and promote their products. Marketers should look for opportunities to partner with influencers in their space.

Advertising & Privacy

Digital ads are heavily reliant on data. New privacy regulations like the iOS update and the pending removal of cookies have been reducing the data used in artificial intelligence. Be sure to assess the impact that this will have on your advertising targeting and be proactive.

Automation

Marketing automation can help brands with ongoing contact with customers. It takes a bit of time to implement automation like social media scheduling, email workflows, retargeting, and analytics, but once you’ve got them up and running, it gives you an opportunity focus on other parts of your business and continues to grow. Think strategically to focus on what really drives their business growth.

SEO

Search engine optimization is one of the most valuable forms of digital marketing. If your website isn’t optimized for your customers, not only will they have trouble finding you, but they will also have a lackluster experience they have on your website. As search algorithms have continuously become smarter and more contextual, marketers need to focus less on the “hacks” and “tricks” of SEO and more on providing an outstanding and meaningful experience to their users. Implementation of local SEO is important and must ensure that your business’s geographical data and contact details are updated. These days, website traffic is overwhelmingly mobile; however, most websites still don’t have fully mobile-optimized experiences. While you are optimizing your website, keep mobile at the forefront. At the very least, update and complete the information required in your Google My Business profile, or create one if you haven’t already. 

Video Content

We’re going on year six of video being one of the most talked-about trends in digital marketing, and yet here we are. Live streaming is continuing to gain popularity and viewership. With new shopping opportunities, Facebook’s Live broadcasts quadrupled in a single year. Short-form videos have also grown in popularity. As people get tired of Facebook’s and Instagram’s oversaturation of users and brands, algorithms, and other things, many are gravitating to TikTok. This means more short-form, vertical videos and showing your face in front of the camera. Even if you don’t plan on jumping on TikTok for your marketing, marketers and small-business owners who are used to being behind the camera should look into how they can talk directly to their audiences through video.

Audio Content

Nielsen’s Podcasting Today reports podcasts are sharply becoming a prime medium for advertising opportunities. Spotify recently launched Call-to-action cards (CTA Cards) on their platform for podcasters. Spotify reports that podcast consumption in the country more than doubled from March 2020 to 2021 – figures they hope to grow as they collaborate with more local creators.

Heavy Users are more likely to inquire and/or avail of a product or service mentioned in a podcast compared to Light Users. These stats are welcome news both for the creators seeking sponsors and the advertisers whose audiences have developed distrust over traditional ads seen online. Whether you are looking to create your own podcast or looking to advertise on one, audio isn’t going anywhere.

Lifestyle imagery

The ongoing need for imagery for social media posts means that brands need to continuously look at revamping their lifestyle imagery. Photos involving people often get more engagement than the perfectly posed product shots. When developing content for social media and your website, think about how your customers will be using the product and what emotion you want them to feel when using the product and that will help you develop your lifestyle content.

In the marketing world, it is easy to get distracted by shiny new digital objects and trends. While you are strategizing on the new trend, don’t forget to focus on your foundation: who are you targeting, why are you targeting them and how will you effectively engage with them. If you have any questions on these trends, contact us today!

How To Make Your Advertising Dollars Go Further

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The way a company interacts with its customers is constantly changing and evolving. Advertisers often wonder how to use their budgets more effectively. A marketing budget is more than just a financial plan. You should also know which effective advertising methods you should invest your money in.

According to Statista, paid social ad spend on social networks in the US surpassed 40 billion dollars (US) in 2020. Ad spending in the social media advertising segment shows an annual growth rate (CAGR 2021-2025) of 10.55%, resulting in a projected market volume of nearly 230 billion dollars by 2025.

Whether it’s social media advertising or print advertising, here are 7 ways you can make sure your advertising dollars go further.

Develop a Strategy That Works

The size of your budget doesn’t matter as much if you don’t have the strategy behind it. You can have six figures dedicated to a campaign, but without a strategy to back it up, you’re essentially wasting time and money. Know where you are placing your ads the plan around them. Why are you there? Who are you targeting? How can you get optimal exposure? Your strategy for how you execute your advertising will help you deliver your message while staying on target with your goals and objectives.

Narrow Your Focus

No matter what your advertising budget is, if you aren’t reaching your target audience, the campaign won’t work. No way around it. The narrower the audience focus for your campaign, the greater the response. It might seem counterintuitive to lessen the reach of your campaign, but this allows you to more effectively reach your target audience, closing the gap between buyers and non-buyers, while saving you money. Identifying and narrowing your target reach can help stretch your budget and create more loyal customers.

Allow Flexibility In Budget

You should never “Set it and Forget it” when it comes to placing your digital ads. Remember, you can modify your budget when necessary. Your budget should be prepared to go with any changes that may arise from consumer behavior to the seasonality of shopping habits to a shift in trends. Flexibility enables you to keep your budget in check and balanced. A good tip is to create a minimum ad spend amount but allow the opportunity to increase the spend if your cash flow allows it.

Stay Local

When you are bidding on advertising placements, you’ll be competing on a local level, even with the national brands. Focus on how to reach your local, hyper-targeted audience and expand from there. Markets vary region to region, state to state, and sometimes even town to town. Understanding your local market better than the national brands will help with the messaging, targeting options, media placements, and more resulting in higher consumer engagement.

Meet Your Customers Where They Are 

It doesn’t matter how big your budget is if you’re spending it in the wrong places. One of the biggest mistakes we’ve seen is when brands are advertising in places that their consumers are not. If you know who you targeting, you should know where they spend their time. Whether they are online a lot via desktop or their mobile devices or if they turn on their TV when they get home and don’t turn it off until they go to bed, knowing where your target audience is spending their time allows you to know where, when and how to reach them.

Plan Early

It takes time and effort to set goals and pave the route to achieve them. So, start planning your budget 4-6 months before you start your fiscal year. This step ensures that you have ample time to align your marketing budget with your strategy. Therefore, you’ll be able to start your campaigns with confidence.

Evaluate and Adjust

Keep track of your campaign’s return on investment by setting monthly and/or quarterly analyses. The analysis should include touchpoints that assess your budget. Track your budget. For example, if the money you allocated for a particular strategy may not be getting the desirable ROI you were looking for, don’t hesitate to give it to another advertising channel. Just like being flexible in your advertising budget, but flexible in your advertising placements. Continue what works and adjust what doesn’t.

Whether your a small business or a national brand, be cautious of where your dollars are being spent. It’s more important now more than ever for advertisers to think outside the box and stretch their advertising spend as far as it can go. If you have questions on how you can make advertising work for you, contact us today.