Translating real-world marketing goals into your metaverse strategy

Presented by LandVault

The metaverse has huge opportunities to seize, but also needs best practices to activate properly. In this VB on-demand event, learn how to separate hype from reality and position your organization as the driving force behind the reimagining of our digital lives.

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The metaverse, and what it could mean for consumers and organizations, is just beginning to take shape. It's also at an inflection point, where companies watching the space have to decide if they'll help lead the shift to a Web3 world, or just hedge their bets and watch how it plays out. Right now, there's no wrong answer, but some of the reasons to jump into the fray might be better than others, says LandVault Founder and CEO Samuel Huber.

"Earlier this year, many brands jumped into the metaverse just for the FOMO, hype, and press. Now that the momentum is building and there's more excitement, companies need to be more strategic and deliberate about what an investment in the Metaverse means in the long run," Huber says. "Brands entering the Metaverse need to think about their game in exactly the same way they would if they entered the Metaverse. another platform or were running any other type of marketing campaign - and whether the Metaverse can achieve these goals in a way that other platforms couldn't."

What the Metaverse does best is experiments, says Huber. It's a unique new way to build a strong, engaged community that can help build momentum around a product, and for some companies it's worth the price of entry, which at this point is still quite high.

Because the Metaverse is still a nascent platform, it's still expensive to build an experience, as there's very little backend infrastructure to support campaign creation and execution. Companies like LandVault are picking up the slack by developing new protocols and building blocks to democratize access to the metaverse, as well as the analytics tools and dashboards that can track consumer behavior and help them design experiences. and mechanisms to maximize results.

"The Metaverse shares the same components as any compelling social game: it's a shared experience in which total immersion and engagement encourages users to buy things along the way," says Huber . "The gaming industry has shown that if you create exciting and dynamic content, people will play again and again for hours."

It could even mean a continuously changing event, such as a Fashion Week experience where a rotating selection of designers are showcased, or a series of unique events with new encounters. This will mean try-before-you-buy 3D experiences, live sports, concerts, all in a centralized environment, each living in their own pavilion - a shopping district, a sporting event area, a concert kingdom and of shows - for easy access.

With blockchain as the financial backbone, the transactional engine is already built into the structure of the metaverse. In Web3, the payment mechanism is at the protocol level, not the application level, which means it's available to brands or anyone who wants to set up and sell. But if creators don't have the incentive to keep creating, there's no saving.

"The more we help them monetize their skills, the more content they will continue to create. The more content, the more users, and the more users, the more we monetize, creating thus a crucial flywheel," Huber says. "There are multiple ways to generate money and income, and many of these tools are already embedded into the fabric of the metaverse. ways to help creators generate more revenue and create more."

Consumers buy virtual goods, whether they spend to upgrade a game's freebies or buy virtual goods to dress up their avatars. LandVault technology can create product placements, which is a great way for creators to recruit other brands to sponsor existing activations and generate revenue. It can be as simple as a billboard on the side of a stadium or a branded store available in another experience.

"Our vision is that within five to 10 years, every company that does business on the Internet will also have a presence in the metaverse," he says. "For us, the metaverse is an insurance policy to future-proof your business, to ensure that you remain relevant to the growing consumer audience. You may not see the impact from quarter to quarter. , but this is a much longer-term plan that will soon pay off."

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