No longer just fun and games: Leverage the metaverse for new revenue streams

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 07, 2022, 4:43 PM GMT+0

From a brand perspective, the metaverse allows marketers to access new revenue streams, engage younger audiences and create immersive experiences around their products.

While entertainment and gaming companies were some of the early adopters of the metaverse, the virtual space is no longer limited to fun and games. On the brand marketing side, though the metaverse is in the early stages of development now, the space lets brands create immersive worlds for their audiences to explore their products in.

Apart from innovation, the metaverse allows brands to leverage an immersive 3D environment to engage audiences. Within the metaverse, brands can experiment with virtual dressing rooms and fashion runways. Even businesses in sectors like automotive are collaborating with NFT companies to unlock physical ownership of their products and boost user engagement in the metaverse.

Given that younger users primarily frequent metaverse-based platforms, the space can help brands identify newer ways to reach out to younger audiences. For instance, Louis Vuitton’s mobile video game – Louis the Game – was able to successfully target Gen Z shoppers, who are more receptive to interactive elements like those in the metaverse, as opposed to traditional marketing tactics.  

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