Are you trying to decide if you should be live with your brand in the metaverse? You’re not alone. Read on to learn why it’s okay to keep your efforts in real life – especially if advertising ROI matters to you.
What Is The Metaverse?
The metaverse is a virtual environment, a social platform and a work in progress.
Ultimately the metaverse is imagined as a virtual world that will offer additional ways for people to engage through work, play and commerce. Most recently, Facebook’s rebrand to the name Meta for its umbrella company kicked conversations about the metaverse into high gear.
Despite Facebook’s efforts to define it, the “metaverse” remains a somewhat theoretical place, and most people seem to have a limited understanding of how it will be used by average consumers. Practical, commercial applications in the metaverse are still in the fantasy stages for most platforms, including Facebook. “This is a virtual world. And right now, we are very much in a down-to-earth world,” said Bernard Arnault, Chairman and CEO of LVMH Moët Hennessy. “We want real product, selling for real.”
Metaverse marketing is likely to be a part of future strategies for many brands and businesses, but how much to commit at this point is a big question mark, with many brands taking a “wait and see” approach while relying on the “tried and true,” like performance marketing.
Should Advertisers Change Their Strategies To Incorporate Metaverse Marketing?
Maybe. Maybe not. Probably not.
Beyond its current often gaming-focused uses, what the metaverse will become, how it will work and how people will get to it en masse are largely unknown.
If you want to be seen as bleeding edge, a press release about your metaverse experience may be just what you need. But if your objective is customer acquisition or sales growth, the metaverse may be muddying your consumer journey.
Yes, other brands are doing it. In fact, 49% of marketers believe the metaverse will impact their strategies in 2022. But that doesn’t mean your customers want it. Before you take any virtual steps into the metaverse, make sure you understand your customers and how they want to engage with you.
Still want to move forward with the metaverse? Make sure you have clearly defined objectives about what you hope to gain. And, expect the unexpected. “Those who have the R&D budget and resources to start strategizing [in the metaverse] need to be okay with the possibility of failing. Those who can’t invest right away may want to watch and learn first to see what works,” said Matt Greener, VP of marketing at TINT, a UGC platform.
The Customer Journey Is Rarely A Linear Path For Consumers, But It Should Always Be Focused On Results
Unless you have a budget for exploratory campaigns, ROI needs to remain your priority. And if ROI is your priority, campaigns proven to produce ROI should be at the top of your list.
Digital performance advertising is designed for advertisers focused on driving results. With campaigns designed to deliver clicks, leads, calls or sales, Digital Media Solutions (DMS) helps advertisers connect with their audiences and scale while paying only for results.
The Metaverse Is Not Today’s Answer To Creating Advertising ROI
“There’s no metaverse to invest in right now,” said Nada Stirratt, VP of Global Marketing Solutions at Meta. And if Meta is telling you that, you should believe it.
Digital Media Solutions Delivers Predictable, Measurable & Scalable Advertising Results
Digital Media Solutions® (DMS) is building an advertising ecosystem that is more efficient, more effective and includes less friction, meeting the needs of tomorrow’s consumers, advertisers and publishers. We leverage our first-party data asset, proprietary tech stack and expansive digital media reach to provide consumers with easier access to options, promotions and savings while helping our advertiser clients connect with high-intent consumers interested in their products and services.
Contact DMS today to create real-life advertising ROI.
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