For people not in the “know” Facebook recently announced its name change to Meta. No, not the Facebook we all use to share pictures of our dogs and children, the social media platform will remain named Facebook, but the parent company that oversees Facebook, WhatsApp, Instagram, and others will now be known as Meta.
Why Meta? Well, Mark Zuckerberg delivered an hour-long video explaining his vision for Meta and the metaverse we’re all talking about these days. In fact, Zuckerberg announced a 10 billion dollar investment into the metaverse. And other companies are paving the way as well. Creating their own virtual realities. Some companies are even looking to sell NFTs, or non-fungible tokens bought and sold on blockchain technology that allows people to own digital items like images or videos.
So what exactly is the metaverse? And should marketers be prepared to pivot to more interactive and metaverse content? The short answer is yes. The long answer is that it depends on your needs, your clients, and of course your budget.
Industry experts are saying that the metaverse will eventually become a necessity for marketers. If you’re a marketer of a small or medium-sized business and not able to invest in interactive realities, then stay up to date on trends. The trailblazers will blaze their trails. They are working in a novel environment, so it’s important to watch what unfolds and how it will impact marketing among industries and mediums moving forward.
According to Wikipedia, the metaverse is the sum of all virtual worlds, augmented reality, and the Internet. It’s a collective virtual shared space created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the Internet.
It’s a bit overwhelming, to be honest. It feels like a science fiction movie or something that doesn’t feel attainable. But just 20 years ago, brands didn’t know that a website could help them propel their marketing. Things are moving at a rapid rate, so the metaverse will likely be essential for marketers in decades to come.
What are ways you can use the metaverse to enhance your brand or business? Think big, don’t be afraid to think outside the box. Technically, in the metaverse, there is no box. Big retailers have adopted Augmented Reality to help their customers envision their products in different spaces. Can you use AR or VR to promote your brand or product?
If you’re a business that has a demographic that skews older, don’t think that this technology isn’t for you. Even if your business only targets homeowners or people with investment accounts, you can still think critically about how new interactive technologies can help your brand. It took brands way too long to figure out the power of social media, but now nearly all of them are on it.
Even though new technology like this generally caters to younger audiences, others do catch up. Your small business can be transformed if you’re thinking more critically about the metaverse and understanding its power in the marketing world.