Latest updates from Decentraland about its metaverse music festival and the 2022 KOREAZ-verse global festival are forcing brands to rethink their marketing plans. New trends and updates in technology constantly set the marketing landscape into motion. While this can be attributed to changes in the consumer domain and their preferences, it’s the brands that are at the receiving end of these developments.
Many brands around the world have been experimenting with technology trends which is a good sign. Nevertheless, this is also putting stress on other brands to jump on the bandwagon. But the limited and scattered knowledge of these novel technologies makes it hard to shape a marketing plan that works.
In an attempt to pull the brands closer to these new trends, our expert team at VSLB has put together this article. In this blog, learn more about the current state of each of these trends, pros, and cons of the following:
Introduction to the New Trends
Analyzing the diverse range of marketing campaigns across the world, three new technology trends can be traced as a common pattern- gaming, AR, and VR. While these are individual entities, the three influence each other more than we think.
For instance, interactivity in games can be improved by adding virtual reality to the mix. Another example is that a VR shopping experience can be enhanced by adding fun games. Also, they all come together in the metaverse development, elevating their importance.
Therefore brands can use each of these new trends in a wide range of combinations that perfectly fit their unique goals.
It is essential to understand the new trends in the technology world to better apply them to marketing campaigns.
Gaming
Gaming is a structured and computerized play where the players derive a lot of enjoyment, relaxation, and achievement. There is also the development of bonding when users play in teams. As a result of these effects, the current market value of the gaming world stands at a whopping 202.64 billion US dollars.
In 2020 alone, the number of gamers globally rose to 2.69 billion people. These statistics open up a lot of opportunities for brands that want to tug the new generation of consumers closer to them.
Current State
One of the new trends in technology, introducing brands into the games arena is not really new. One of the earliest combinations of games and brands comes from Advergames, which are games created specifically to raise brand awareness. Then came the introduction of companies into existing games through brand logos and digital versions of brands’ identities.
As games became more of a medium of communication, brands are now partnering to release their latest creations in them. In the case of metaverse developments, brands and games can fully integrate into one to create a rewarding and refreshing experience for the target audience.
To summarise all of the above developments: Brands can use gamification in two ways. The first way is to partner with leading games and introduce their brand into it. The second way is to introduce their own games by using the new technology trends of VR and AR. These games can also come in handy when moving into the metaverse.
Pros & Cons in the context of Marketing
Pro: Increases engagement through Fun
When paired with marketing campaigns, this new technology trend can leverage customers’ sportiveness to drive engagement. While most marketing strategies are becoming stale due to the usage of static images and passive videos, games can change everything. Brands can incorporate little fun plays that are easy to play while earning few rewards. Another way is to introduce brands’ products into popular games.
Con: Limited Integration
Although gamification in marketing is quite an effective way to improve customer loyalty, tech support is still in its infancy. At present, only a few games like puzzles, short questions, and finding objects in the surrounding are possible to include in a promotional strategy.
Pro: Strengthening communities
One more advantage of combining gaming and marketing is that it can be used to create a tight community around the brand. This can be achieved by introducing gaming score lists and introduction of the group plays.
Con: Resources Demand
The current gamification landscape is riddled with similar sorts of games. This is because of the limited knowledge of using it with existing other technology trends like AR and VR. Also, the novelty of games quickly wears off, requiring marketers to be on their toes to bring out more creativity.
In a virtual space created by VSLB, your brand can enjoy all three new trends in technology- gaming, AR, and VR.
Augmented Reality
Another one of the new trends in technology, AR marketing is where brands use filters to overlap their content over the users’ surroundings. The content can vary from images to videos to audio to maps and is easily accessible from most smartphones. In 2021, the market value of AR remained at 15.2 billion US dollars and about 83.1 million consumers in US alone use the technology monthly. More and more consumers are inclined toward brands that offer AR filters and features like try-on.
Current State
First created in 1968 with a head-mounted display, Augmented reality now has three main capabilities – Visualization, Interaction, and Collaboration. Through AR technology, one can see the internal workings of a machine, and view the virtual content of images and videos. Also, to some extent, it can be used together with interactive content of quizzes. As for its collaboration capability, it can be together with VR in the metaverse development.
In the context of branding and marketing, AR is limited to the following uses:
- Viewers can see the object from various angles by rotating and moving around the mobile device.
- They can interact with video, images, and audio and to some extent able to feel and try it.
Pros & Cons in the context of Marketing
Pro: Wider Reach
One benefit of using Augmented reality marketing is that almost all of the population can access it. This is because, unlike VR, AR only needs a smartphone to reach and interact with the content. With 91% of the world’s population using smartphones, one AR campaign can reach a huge audience. Additionally, since AR is completely based on computers, it can be swiftly modified to resonate with the local culture.
Con: Limited Interactivity
The current abilities of AR allow audiences to interact with the content with limitations. This is in part due to simplified device usage at present. Currently, through AR filters and games, one can only interact through screens using touch sense. To overcome this obstacle, AR can be paired with VR to fully engage the buyers.
Pro: Easy Access
As aforementioned, most of the AR content is readily available by scanning QR codes or clicking the links, which pop up. It is relatively easy to understand among the new technology trends, making it one of the most attractive tools for marketing.
Con: Gaming compatibility
The disadvantage of the simplicity of AR lies in its feasibility to integrate games. One cannot include very complex and involving plays in AR-based campaigns. Simple games such as puzzles and finding objects can only be used together with augmented reality technology.
Virtual spaces are the stepping stones for brands to reach the latest metaverse developments. There are various AR & VR Agencies offering its services.
Virtual Reality
The most interactive marketing technology, virtual reality is where users can enter simulated digital environments using specialized headwear. Once they are in virtual spaces, they feel everything around them is real with technology influencing their senses and perception. Its market value is 21.83 billion US dollars with 171 million users worldwide. These numbers continue to rise due to democratizing hardware and metaverse development.
Current State
The development of virtual reality dates back to 1838 when Sir Charles Wheatstone created the early stereoscope. It is a device that uses images taken from various angles to give the viewer a 3D feel of the object. Coming back to today, VR technology is now, a headgear as the central component that is used for stereo display and viewpoint tracks. Additional components like haptic feedback, olfactory display, and motion capture are also available but their usage and diversity are very much limited.
To explain in simpler terms, when a brand uses virtual reality, the following features are possible:
- Users can enter a new virtual world where everything is in 3D.
- They can wander around and the display moves in accordance with their eyes.
- Also, when they encounter an object in the virtual space, they can know it.
Pros & Cons in the context of Marketing
Pro: Heightened Interactivity
One best use of this new technology trend in marketing is that brands can now increase interactivity with their audience. To explain it better, more and more consumers are on the affordable spectrum of VR hardware due to heavy developments by companies. Every year, there are new updates with better and easy-to-use features that ease the gap between brands and consumers when a VR marketing campaign is launched.
Con: Extend of Awareness
The biggest stumbling block when it comes to VR branding is that people have incomplete notions about the technology. There is a lack of strong awareness about the technology, where and how to use it. Most believe that it’s beyond their reach and understanding that they ignore any campaign that has VR in it. But the tendency is currents of knowledge are slowly changing and most likely would trace the path of smartphones.
Pro: Compatible with Gaming
Another advantage of Virtual reality is that not only it can be used to explore mystical spaces but games can be included in it. The technology is ripe enough for brands to use games that improve the relationship between customers and themselves.
Con: Need for Equipment & Space
Unlike AR which only requires a smartphone, VR requires specialized headwear with supporting equipment to fully enjoy the experience. While the costs are coming down, there is still hesitancy in the consumer realm regarding reliance and usage. In addition to the gadgets, users would also need space if brands were to include exploratory games in the campaign.
Connect with Us Today
Marketing is changing really quickly and metaverse development is adding more fuel to this fire. In the current state, brands are in a confusion to choose a future direction to walk onto. To help such brands ease their tension, we’re creating virtual spaces which are the basic foundations of the growing virtual world.
In virtual spaces, your brand can introduce AR, and VR features together with games. In short, you can find a wide range of services all at once, here at VSLB. Contact us today to kick-start your first marketing campaign in your own branded virtual spaces.
For project inquiries e-mail us at hello@vs-lb.com
For press inquiries e-mail us at inquiry@vs-lb.com
