Terms like 3D environments, metaverse, and virtual spaces are currently in vogue. Leading luxury brands like Gucci, Balenciaga has already upped their marketing strategies into digital realms and means. Consequently, the demand for virtual stores and digital items is expanding at an unexpected rate. In addition, artists, designers, and brands are trading their collections by minting them as NFTs.
These steps only consolidate the need to have an active presence in the virtual universe. Shifting the marketing efforts from physical to these digital spaces is exciting and challenging for brands. As product advertising is relatively novel, brands are not too sure of venturing.
Metaverse at a Glance
A metaverse is a virtual world with its immense potential still unlocked. It is an online space that mirrors real word interactions and transactions. In the metaverse, people can meet their friends, talk, eat and spend time with them.
And, brands can establish their stores selling virtual or physical products. In short, metaverse will be the new way of living and shopping in the coming years.
From the technological perspective, the metaverse is a mix of VR, AR, and mixed reality. Through these 3D technologies, users can interact and immerse themselves in the new world. Observing the trends, it is evident that 3D environments will dominate every possible area of marketing and e-commerce.
The consumer domain is changing globally. Consumers from Gen Z are entering the workspace and thereby a shift in the buying power can be seen. This new pool of customers is very different from their previous generations in terms of preferences, likes, and responsibilities. Growing up completely digitally, they are more likely to be inclined to virtual, exciting, and convenient experiences.
They are the main driving force behind the growth of metaverse and digital environments. These virtual spaces offer them the freedom of expressing themselves without any boundaries. Brands targeting this Gen Z have to keep with the new technological trends. By initiating product advertising in the metaverse, companies are on the right path in reaching out to the right customers.
While the metaverse can be used as a tool for virtual advertising, it can also be used to create awareness. Brands can use the 3D environments to introduce the products and their functionalities with a 360-degree view. This improves buyers’ confidence and ignites a desire to purchase physical goods in real life.
If used properly, virtual stores can lead the audience to physical stores, promoting both digital assets and physical sales.
Metaverse not only offers commerce benefits but provides technical advantages as well. Since it only exists virtually, brands can customize their stores within a short span of time. This not only attracts various customers groups but also is economical in nature when product advertising and promotion costs are considered.
In the globalized world, it’s becoming difficult to cater to customers from various time zones. This problem is cleverly eliminated from metaverse marketing. As an online world, it exists 24/7 for every buyer from any part of the world. By integrating artificial intelligence chatbots and virtual assistants, brands can offer uninterrupted customer services.
In the metaverse, brands can create imagery beyond physical limitations and imaginations.
Finally, the distinction between real-world and metaverse is the real experiences. In a digital universe, anything is possible. That is to say, brands can create artistic and beyond reality experiences that are enthralling, informative to the customers.
Brands can carry out product advertising in the metaverse through virtual launch. Just like in real-life, firms can build anticipation about the products through media art and online stores. In the year 2020, there were many product introductions that were dubbed as virtual launches.
But the flexibility and realistic nature of metaverse make virtual launched in it far more exciting and memorable. Through customized avatars, buyers can participate in the virtual launch and brands can connect with them, all while launching the product. These metaverse launches have more reach than their physical counterparts.
Similar to real life, brands can set up virtual stores in the metaverse. With the help of 3D technologies, they can simulate real-life experiences and interactions in the online universe. In these digital shops, brands can sell their products as NFTs. Also, they can help consumers purchase the digital version before receiving the physical products.
These stores completely transform the current online shopping experience which was one-directional. This means customers have to find every piece of information about goods themselves with no one to guide them. But on the metaverse stores, brands can make online shopping into a two-way communicative experience.
Companies can set us virtual models or chatbots that talk with the customized avatars of the consumers. In other words, this makes digital shopping more of an immersive experience rather than a passive action.
Brands can create exciting product experiences in the digital stores of 3D environments.
The 3D environment requires digital humans and the developments are already escalating. There are many kinds of online people in cyberspace who are influencing the purchases of buyers. Virtual YouTubers like Kizuna AI, digital personas like Lil Miquela are already competing with real-life influencers in product advertising.
Utilizing advanced technology, brands can use AI influencers which can modify their speech and emotions according to the customers’ speech.
Metaverse is a new world that offers a lot of opportunities for product advertising for brands. Even though the development is in infancy and many brands testing the waters, one key conclusion is clear, incorporating the virtual experience in your marketing strategy is essential. Certainly, the metaverse is the future of product marketing and advertising.
In short, brands have to realize the potential of the 3D environment and create their own virtual space in it. If your brand needs assistance with it, as a leading 3D creative studio, we’re always here to help you.
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Gain a complete picture of your product in the metaverse and its co-existence with your brand.
Gain a complete picture of the metaverse and its co-existence with your fashion brand.
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Gain a complete picture of your product in the metaverse and its co-existence with your brand. Revolutionize your Digital Initiatives.