Appearing in science fiction novels at the end of the 60s, the concept of metaverse resurfaced with the announcement of the transformation of Facebook into Meta last October. Since then, conversations have only intensified around the potential of these new virtual worlds. To what extent will the metaverses upset our relationship to games, brands, work, or quite simply change our lives?
Metaverses offer the ability to virtually connect with physical people around the world, in representations of any universe, in a much more disruptive and immersive way than a Zoom videoconference. The business opportunities for brands quickly became apparent.
Right now, developers are still driving the game. They’re building the virtual worlds that will deliver everything you could possibly want, where brands collide and entertainment media merge. Attracted by a seemingly unlimited commercial potential, companies of all persuasions are hastening to announce their intention to join these metaverses.
And that’s probably just the start. Because from a marketing point of view, metaverses provide brands with an interesting opportunity to get in touch with consumers to whom they previously had access (or not) through more traditional channels.
Metaverse and big data: for better or for worse?
As metaverses grow, the volumes of data that can be generated seem enormous. And the types of data that can be collected from virtual or augmented reality technologies are broader than with cookies. In the future, then, it won’t be so surprising to imagine brands operating in the metaverse being able to examine our blood pressure, breathing rate, or other aspects of our health.*
The acceleration of our heart rate could for example make it possible to measure the success of a program. And publishers could then sell that data to advertisers, who would use that information to create even more personalized ads. This data could also feed companies’ algorithms to keep us on their platform longer.
While generating more data isn’t necessarily a bad thing, there is still a need to consider privacy – how will the data be processed, who has access to it, who benefits from it?
What world do we want to live in?
The advent of metaverses raises questions about the type of society in which we want to live. But the answers are coming at a slower pace than the very design of these new universes. Late last year, Meta’s Oculus virtual reality app was already the most downloaded app in Apple’s App Store.
Metaverses could provide the real-life escape that many people long for. It’s obviously debatable whether that’s healthy or not, like people who run away from social engagements to play video games for hours on end, or those who create a perfect showcase on Instagram, actually only showing 5% of their real life.
Metaverses offer these souls the opportunity to escape reality and create a life they don’t have. Inevitably, each new technology cycle has potential advantages and disadvantages. It’s all about balance.
Create meaningful experiences
All brands do not necessarily have a reason to embark on metaverses. Will audiences spend time in metaverses? Which partners in a brand’s ecosystem want to go there and why? Engaging in metaverses is not trivial, especially in terms of investment, and can even be risky if the experience does not live up to public expectations.
The important thing, in fact, is the story that the brands have to tell, the quality of the experience that they will be able to offer, and above all, the consistency with what they are in the real world. In a marketing objective, and beyond the simple fact of interfering in the trend to be a follower, how can companies seize the phenomenon to get even closer to the consumer?
Often, companies take the problem backwards: they think about their strategy and look for channels to get their message across. Metaverses are not real but tend to create another reality with more sincerity.
Brands must therefore fit into this world and offer new experiences, not use them for marketing purposes but to improve the user experience, offer an extension of their DNA in the new virtual world. This will help create consumer buy-in and then loyalty. We are moving into the era of trust, of community around the brand. It is therefore necessary to thoroughly review the marketing strategies to achieve this.