The 7 Point Plan for Marketing in the Metaverse: Point 1 - Have a Plan
Companies and brands around the globe are rapidly embracing virtual worlds and launching marketing initiatives inside the Metaverse, creating new innovative ways of engaging with large influential early adopter demographic groups, exciting new audiences and tech-savvy individuals.
However, companies considering a Metaverse entrance strategy should recognise that brands have to be positioned, not pushed into virtual worlds.
The 7 Point Plan for Marketing in the Metaverse explains the key areas marketers need to consider and address when developing a strategy to deploy their brands, products and services into this dynamic new channel.
We created The 7 Point Plan for Marketing in Virtual Worlds originally back in 2009 and looking back, that seems like an aeon ago. At that time, Second Life, Habbo Hotel, Moshi Monsters, and Club Penguin were the top Metaverse platforms in terms of user numbers, media attention and brand activations. However, it's time to update the report with the advent of Web3, more advanced graphics engines, significant investment in the sector, and mass media attention.
The newly updated 7 Point Plan for Marketing in the Metaverse is a comprehensive guide that distils over 15 years of experience in leading brands and organisations into virtual worlds. It covers what works, what doesn't, what to focus on, and what to avoid when a brand or company decides to enter the Metaverse.
The aim of this plan is to provide brand owners, marketing professionals, and product managers with an honest, objective, and valuable framework for Metaverse activation strategies. With the Metaverse firmly positioning itself as a marketing and communication channel not to be ignored, it's imperative for brands to get ahead of the curve and capitalise on the vast opportunities presented by brand placement into virtual environments.
The 7 Point Plan for Marketing in the Metaverse is a roadmap to navigate the nuances and dynamics of Metaverse marketing, from building brand awareness, the deployment of virtual events and product launches through to engaging with potential customers, suppliers, new employee onboarding and training in exciting immersive ways. By leveraging the insights gleaned from years of experience and extensive research, this plan equips businesses with the tools they need to succeed in the Metaverse.
Whether you're a seasoned marketing pro or a newcomer to the world of Metaverse marketing, this guide is an essential resource that can help you stay ahead of the competition and unlock the full potential of the Metaverse.In today's rapidly evolving digital landscape, companies and brands worldwide are increasingly looking to leverage the potential of virtual worlds to establish a strong foothold and embark on innovative marketing initiatives.
By embracing virtual environments, brands and companies can seamlessly present their offerings to the highly coveted early adopter and Gen-Z demographic groups and tech-savvy individuals. Nonetheless, it is crucial for companies contemplating an entry into the Metaverse to understand that their brands need to be positioned strategically rather than forcefully pushed into these new virtual realms.
Brands should not attempt to reverse into the Metaverse, nor should they be distracted or dazzled by Web3-related buzzwords or newly self-appointed Metaverse Experts. To this end, the 7 Point Plan for Marketing in the Metaverse explains the critical areas that marketers must consider and address when developing a comprehensive strategy to deploy their brands, products, and services on the ever-growing roster of available virtual platforms.
By following this plan, businesses can effectively navigate the intricacies of virtual marketing and unlock the immense potential that these environments offer. The visual below presents the Metaverse landscape and the numerous platforms that we track and assess in order to provide a comprehensive media planning service to our clients.
At resent, the lions-share of the Metaverse population resides within established Web2 virtual worlds such as Minecraft, Fortnite and Roblox and over 80% of the audience is in this segment. Web3 virtual worlds, shown on the right of the image above are a newer category of virtual worlds and are in a nascent stage of user growth.
Point 1 - Have a Plan
When it comes to marketing in open virtual worlds, such as Roblox, Fortnite, Minecraft, Avakin Life and the Nemesis through to closed bespoke platforms such as Odyssey, PixelMax and Engage, it's crucial to view them as ‘just’ another channel in the marketing mix.
Therefore, businesses need to invest time and effort into developing a comprehensive marketing plan that aligns with their overall goals and objectives from the real world. Before delving into Metaverse development, and building companies must conduct an in-depth brand assessment to evaluate their brand values, positioning, target markets and real world marketing efforts.
This assessment lays the foundation for leveraging the brand in the Metaverse and uncovering unique opportunities to engage with customers in new immersive and interactive ways. It's essential to identify the real-world services offered by the brand and what sets it apart from competitors - simply having an outpost in the Metaverse isn't enough. This knowledge provides a starting point for exploring how these attributes can be deployed and expanded in a virtual world to maximise their potential.
Timing is another critical factor that requires careful consideration. It's important to keep in mind that virtual world campaigns typically take several months to create, and rushing through the process can result in suboptimal outcomes. Therefore, businesses must allocate adequate marketing resources to ensure the project's success.
Don't fall into the trap of thinking that the Metaverse means virtual reality - it does not.
Only 2.6% of Metaverse MAUs access via HMDs, as shown in the visual below. Your target audience uses smartphones, tablets and laptops.
Overall, the key takeaway is that having a well-thought-out marketing plan is vital to make the most of Metaverse marketing potential. With proper planning and execution, brands can effectively leverage these immersive environments to engage with their customers, differentiate themselves, stand out from the competition and open up new revenue and communication channels.
By investing in a comprehensive marketing plan that takes into account the unique aspects of virtual worlds, businesses can set themselves up for success and stay ahead of the curve in this rapidly evolving digital landscape. If you’re in the process of entering the Metaverse get in touch with us because we can save you significant time, effort and expense with your planning and execution.
