Advertising in the Metaverse: Top 5 Marketing Strategies

Virtual reality is quickly progressing to serve as a medium for connecting, socializing, identifying, educating, and transforming the way business is done. Many big name brands have already experimented with digital collectibles, concerts, clothes and more. In 2021, world-famous brands such as Nike, Disney, Sotheby’s, Gucci, Adidas, and many more, hosted their own events in the metaverse as a form of advertising.

There are many reasons why marketers are choosing advertising in the metaverse as a form of marketing. Not only is it an unexplored territory bubbling with potential, it is also an exciting medium for engaging Millennials and Gen Z in new ways. If brands want to stay at the top of their marketing game, it’s essential for them to be open minded to new opportunities and new ways of doing things.

As the whole idea of the metaverse is still relatively unexplored, and advertising in the metaverse is relatively inexpensive compared to many other methods. So if you’ve been dabbling in the NFT/Web3 space as a brand creator or full blown company, and now you want to use your marketing budget for advertising in the metaverse, read on to find out more about the top five metaverse marketing strategies.

Billboard Ads

Using billboard advertising in the metaverse is similar to real-world advertising on billboards and other mediums such as posters and brochures. Placing an ad in the metaverse is a great way to get eyes on your product and brand from consumers across the globe. After all, that’s the magic of the metaverse, that you can show off your brand globally with just a few clicks. Anyone who is taking a stroll through Decentraland, Voxels, and Somnium Space, will be able to see your advert and click on it for more information.

NFT Plazas offers the world’s first automated booking system for billboard advertisements in the metaverse. The booking system works on a pay-per-view basis. You can choose the amount of views you want to receive for your Decentraland billboard advertising campaign. Pricing varies on a sliding scale in line with the amount of views you want to book for your campaign.

There is also access to a unique reporting dashboard for clients to monitor the progress of their campaign. Reporting includes information such as total number of views so far, views by location in the metaverse, geo-location of visitors, and language of visitors.

This is definitely one of the easiest and fastest marketing strategies for advertising in the metaverse!

Hosting Events

Hosting an event in the metaverse is another great way of engaging your audience with your brand. This will attract not only seasoned metaverse users, but also newcomers who are keen to see what it’s like to be in a virtual world. You don’t need to have your own venue or land in the metaverse to host an event, there are many land owners who rent their builds out to companies for special events or on a monthly basis.

You can choose how big you would like your venue to be, and what kind of event to create. There are so many ways to get creative with this kind of advertising strategy, as you can also use NFTs as tickets to give people access to the event, and you can even link it up with a real-life simultaneous event.

Providing Experiences

Providing interactive and immersive experiences is a whole new genre of advertising in the metaverse. This will most likely require a bigger marketing budget and a strong creative team and tech team with knowledge of web3. However, if you can pull of creating a cool experience for your customers, it’s definitely worth the hype it will generate!

Gucci’s partnership with Roblox to create a Gucci-themed world using real money to buy in-game items is a great example of a successful metaverse experience. There are endless ways to approach this, depending on which virtual world you choose and the features it offers.

Rewards

Who doesn’t like receiving rewards? Incentivizing your customers is a well-known tactic in the marketing world, and what better way to lure them in than rewarding them with a free NFT or perhaps a POAP (Proof of Attendance Protocol) badge for attending a metaverse event.

POAPs are NFT badges given out to attendees of metaverse events, proving that you were at the event. Each badge is totally unique and makes for a great collectible, especially for those who frequent metaverse gatherings and want to document their virtual experiences.

Many people are also new to the NFT world and would love to know more about the space, so rewarding attendees with something small is a great way to inspire mainstream audiences to join a metaverse event and get their first exposure to the NFT world.

Your Own Virtual Venue

If you want to go all in on advertising in the metaverse and you have the time and resources, then creating your own branded virtual venue will cement your company’s image in the web3 space.

The world’s oldest auction house, Sotheby’s, is a great example of this. In 2021 they built their own gallery in Decentraland’s Voltaire Art District. The building is a replica of the auction house’s iconic New Bond Street Galleries in London. It features all five ground level gallery spaces as well as the figure of Sotheby’s London Commissionaire, Hans Lomulder, on hand to greet visitors.

This definitely attracted many new eyes and helped them reach a wider target audience who otherwise would not have been exposed to interacting with Sotheby’s. It was also proof that they are serious players here to stay and are keeping up with emerging technologies for art.

Keep Experimenting

Advertising in the metaverse is a whole new avenue for marketers. There are massive opportunities and plenty of room for experimentation, as there are no established practices or guidelines yet for what works best. So it’s a great time to get creative and try out different strategies!

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

Ivelina is the Content Maestro of NFT Plazas. She has a knack for putting complex concepts into simple words.