From the course: Implementing the Metaverse

Metaverse for marketing

- Let's jump right into it. Here's a scenario. Your marketing team approaches you and asks for your help in being able to promote your organization and possibly its products and services through the metaverse. How would you go about it? Marketing has many different roles to play and it's a very important area for any business. The key task of a marketing group is to be able to create the relationships, the messaging, and the perception of your product, service, or brand in front of the ideal stakeholders. As a broad focus, this sounds great, but when you get into the niche focus of a marketing group, there are many moving parts to it. A marketing group needs to find the correct target audience or group of buyers as an example. They also need to create the right messaging that does a perfect job of talking about your product or service to those stakeholders. Marketing also has to measure the success of advertising campaigns that it runs. Look at lead generation and customer acquisition and provide all kinds of metrics to others within the organization. Marketing can also manage budgets, organize events and conferences, and lead the organization's efforts to connect with others building relationships, and to really take the organization into the world in front of others. Here is where the metaverse can help. The metaverse offers the opportunity for marketing to leverage an entirely new channel of engagement. As a channel, just like broadcast television, newsprint, digital magazines, or one of the many online avenues of engagement, the metaverse can be used as a tool and a location to conduct a majority of marketing activities. Here are some recommendations to consider when thinking about enabling the metaverse for your marketing group or helping them leverage the metaverse. Number one, the first thing is to ask if your ideal target market is on the metaverse. The metaverse is a collection of different virtual worlds, each of which has a very different mix of users personas with different demographics. Make sure the metaverse platform your targeting has the right demographic for your product or service. Second, the opportunities to connect with others and to have a conversation to promote your product or service is essentially very similar to every other channel. You locate and find people that you need to connect to. You use specific assets or messaging to pique their interests, and lastly, you share information or knowledge with them. Number three, and finally, establish the parameters of your marketing campaigns, including data collection, compliance with advertising legislation, and regulations and other aspects. The metaverse has ample opportunity for marketing to attract users across various metaverse platforms through innovative approaches. Of lately, this has also included developing metaverse-based virtual land, creating virtual infrastructure, and meeting people. As a leader, you have to be open to being able to do different things in unconventional ways to be able to leverage the metaverse opportunities. Here's a question for you. How would you market your organization's products and services on the metaverse? Which metaverse platform would be the ideal one for you? Put your comments down below. I would be happy to respond.

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