In this article, I’m going to give you an idea about the future of advertising in the metaverse. Don’t anybody is completely sure about how will metaverse will change our life, and that includes advertising. But based on what we know so far, we can think what it might look like.
Before we jump into the future of advertising in the metaverse, let me quickly explain the Metaverse Meaning
What is Metaverse in simple terms?
A user will wear a VR headset or a virtual reality headset and enter a game-like world and choose another part for himself or herself. This world inside the VR headset will be created by millions of creators, which will resemble the young world and maybe even better.
You can do all you do in the real world, and even far more. Imagine sitting in a meeting with all your colleagues around you where you can interact like real life. But in reality, you all will be based in different locations. Maybe in your home.
Let’s say you want to join an online course. You will be sitting in a virtual classroom where you can interact with other students and feel like you’re actually in that particular classroom for that course. And there are numerous examples.
There will be few virtual streets. More and more places, buildings and whatnot. This world in which we will live in virtual reality is called the meta-universe or the short metaverse. It might be surprising to you, but people have already started buying real estate, land, buildings and even heart within these methods
Theoretically, the metaverse is a completely new adult Internet networking, online and social media gaming community. Probably is the closest any group has come to entering the so-called metaverse. In a lot of games, games create virtual terms of themselves, which interact with each other within the game or online words. They do this in real-time and speak to each other within the game, while their headsets and even checked
the metaverse however is different and much much more powerful than a virtual reality game. We can think of some of the experts who said that it was a logical next step. For humanity, we started with starting websites at the beginning and then we move to social media full of text.
Then from the text, we moved to images. Then suddenly social media platforms became video heavy and given life video. All these steps added one more dimension to how we used to share and interact. Within each other on the Internet and the next logical step was anyways virtual reality.
When Did Metaverse Start?
Now you will be thinking when did it all start? Did it become a household buzzword recently after Facebook changed the name to Meta? The term metaverse and concept is very old. The concept named the Metaverse was adopted from the 1992 novel Snow Crash where the word better was used for the first time. The concept has been explored in some other way by science fiction authors or Hollywood filmmakers over the past several decades. And some bailed out. You might have already seen some of those movies.
How long is it going to take for us to see what the metaverse will look like?
The answer to that is to create a digital universe that can take decades or even centuries for one or even all the big companies together. But they are repeating the game. The pattern is going to be similar again.
Metaverse development: Who will create this digital universe?
Content creators will create these entities in better words, whether it’s buildings, whether it’s art, whether it’s games or anything you see in the metaverse.
Now obviously, content creators and artists will do to monetise their content. How to think about this. Do you know Google almost doesn’t create any content on YouTube? All the content on YouTube is created by users. 500 hours of video are uploaded to YouTube every minute worldwide. That is 30,000 hours of video uploaded every hour. But what Google or YouTube has done is have created or provided this platform where users create content and YouTube monetises. This is true for all companies.
We survived because of the content that Facebook, Twitter or almost all social media platforms. The content on all these platforms is user-generated content like videos, the images and articles we post. The same thing will happen to the metaverse. These companies will provide a platform and environments to bend upon.
Why and how will brands and businesses advertise using digital marketing in the metaverse?
Well, advertising budgets follow where the people go. Brands and advertisers will advertise. The metaverse was for the same reason they do it in the real world. Which is to get attention. We have brand awareness and evoke emotions in people to buy their products or services.
Before TV became a common household thing, outdoor advertising was a big industry. We used to advertise on buildings, uni poles, sports stadiums, and wherever people will spend time or see.
When people used to spend their time reading the newspaper, we used to advertise in newspapers.
Then people started to listen to the radio and TV. We started advising on radios and TV.
Some companies took a step ahead and started advertising involving elevators and even cars and buses.
Next was social media and people started spending time online and on social media. Then most of the advertising started going there. Companies started to spend their advertising on social media.
And with the progress of social media platforms, people started following influences and influencer marketing was born in 2021.
So basically, advertising goes where people spend their time. Experts say that people will prefer to spend more time in Metaverse in future,
Whether it’s for work or the freedom to do what they want with passing time, it will be hard to recognise the distinction between real and virtual life. Now based on these predictions, we know that people will spend more time in Metaverse. So Brands will follow advertising methods, but this is where things take an interesting turn because advertising methods in Metaverse will be very different and innovative.
Let’s see about generic advertising in Metaverse.
Now, the first thing that comes into mind is within the Metaverse. Whether you see an ad on a digital screen or a billboard across the road, they’ll both be digital. If you’re looking at the magazine in the metaverse, the ads will still be digital.
Someone might ask how does it matter? One of the reasons is that they can be customized for everyone. Let me give you an example Now, if there is a billboard on the road, different people walking in that street in metaverse will see a different ad on that billboard and that will be based on their previous behavior.
So it will be digitally controlled and customised. About imagine a real estate broker advertising on a billboard can have a CTA of visiting the property. Someone clicking on that art actually visits the property and sees and experiences it all freely as if they were walking within the property.
Automotive brands can arrange a test drive within the metaverse. It’s like you’re playing your game, something like the need for speed or GTA. However, the engagement of advertising will go to the next level.
Fashion brands can sell digital products as well as real-life products. You can buy a brand jacket for your avatar within the metaverse. as well as you can order it to your real-life interest. You can’t even Brenda the jacket for a party in the metaverse, so that will be an opportunity for digital art creators.
But hold on, not only with the way these brands will advertise will be different. Also, they can hire our thoughts of celebrities and models and make them walk on the street or go to a party wearing the latest brand outfit. Now if you are walking in the same street, you see a familiar outfit of a celebrity. You will observe them and there will be, for example wearing a brand jacket.
So that’s how these brands will be advertising and for everyone who sees that model on the street, the Avatar will change based on who their favourite celebrity is. And suppose you are at a party and you see your favourite celebrity wearing an outfit. You can check the details of something they’re wearing. And order it right away.
Imagine an institute teaching digital marketing courses can buy a billboard on a famous street, so only the people who walk that street are interested in digital marketing. They can click and pay and join the virtual class where they can interact with other students and feel like an exact classroom.
E-commerce and retail businesses can create virtual malls with virtual assistance, where you can choose and buy products for real life as well. Imagine you have to do grocery shopping and you are walking in a virtual world through an LA where you see the product cheque, and the details and then add to the cart or order to your real-life interests.
Continuing with advertising, let’s discuss its other aspect.
Apart from buying, it’s scary when you think about how powerful the advertising will be in metaverse in terms of the amount of data that companies will have about you. Companies will have massive data not only about our behaviour on the Internet but how we react in different situations.
Now companies like Facebook, who will provide these platforms will even have data about us that what type of clothes are we interested in? If we were walking on the street and we saw somebody with an outfit, did we turnout heads to see that outfit again. Now tracking will be very powerful as well. Now we can track how many of the users. Saw ads and metaverse, and how many of them walked in our store. And at the same time, brands can use advertising as metaphors to influence decisions in real life as well as matters.
There will be companies who buy real estate in metaverse to sell for advertising spaces like in real life. Companies might host events or by all art spaces like in the real world to collect data. Whether it’s a game or any other kind of event.As far as the companies with the existing client base.
To map the date of their existing clientele to their digital ID or ID, they might come up with different kinds of offers like buying a physical product like Nike shoes and you can claim the digital version free in the Metaverse so that they can kind of map your real-life IDs with your metre sidings.
Now, these companies can even track our friends, family and a lot, lot, lot more details in our real life. Honestly, the future of advertising for better, worse, or matters, in general, is very uncertain. There definitely will be technology tracking and advertising methods that we can’t imagine now, but let me know in the comments about what you think will happen in terms of advertising and tracking methods and if you like the article,
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