Everywhere you look, read or listen recently, it seems you are bound to come across the most discussed (potential) hype word of Q4 2021 – the Metaverse. In case you are still not in the loop, the “metaverse” is set to be the first augmented reality social network sphere. This visionary network will, in the near-future (so they say), completely reshape the internet as we currently know it, and promises to connect the physical world with new technologies that will change the way people communicate, purchase, entertain themselves, and engage in their daily activities.
Short Term Ambition of Metaverse
As the Metaverse grows in popularity, it will become an indispensable tool for marketers. This new platform already got a lot of buzz in the advertising industry since it gets advertisers closer to their customers.
With VR/AR, marketers can develop personalized digital experiences and create a one-on-one experience for the customer. (Just imagine when selling a house to your customer – instead of showing the mockup), you may show them their potential new home in virtual reality.
The most important thing it will do is to increase the industry’s creativity. It will provide marketers with more options for distributing their content. However, it will increase the amount of expertise required for this position. Digital marketing currently necessitates a high level of creativity, which appears to be increasing with time. For example, modern digital marketers must create graphics and other advertising pieces using Adobe Photoshop and other innovative tools to showcase what they are trying to sell. They will also require technical knowledge to operate with particular computer applications. That is just going to improve and expand in the metaverse. To begin developing the necessary material, the industry will require a metaverse developers. It’s one of the numerous reasons why this business will boom in the following years.
Marketers will provide direct client pleasure through interactions in the Metaverse, increasing brand trust and commitment.
Zuckerberg has prophesied that digital technology will dominate the future. But it doesn’t appear that he’s referring to virtual reality. It will, he claims, be a platform where people may freely share knowledge without any restrictions. And this is precisely what Metaverse aspires to do. The company aims to bring the “real world” into Metaverse by developing apps for Facebook’s Platform that allow users to communicate in virtual reality without ever downloading an app.
This, we believe, demonstrates that the virtual world has the potential to be the next big thing, and Facebook is taking it seriously.
The Long-Term Ambition of Metaverse & The Impact on Ads
The long-term ambition of Facebook is to develop augmented & virtual reality marketplace called “Horizon”, where creators can sell and share 3D digital items. Zuckerberg’s vision is to enable more commerce as he touche base on Horizon Market Place and explain how people could sell and share 3D virtual items, and help generate more commerce and grow the overall Metaverse economy.
The majority of the sector is currently concentrated on display advertising on Google and Facebook. To put it simply, you write the text first, and then you add visuals to them. However, the industry is evolving in the direction of making such images more realistic and 3D. It will also alter the amount of ingenuity required for the work. Augmented reality will become a more significant part of the process, requiring creative people to employ every ounce of their imagination they have.
In the future, social media will resemble the video game Fortnite. In augmented reality, people will be able to interact with the whole environment through a 3D avatar. They’ll be able to take a walk and glance at social media updates while doing so. This will improve the sector significantly, increasing the demand for metaverse developers.
Search Engine Optimization (SEO) may undergo significant changes. Google, for example, might establish a digital street on its search engine rankings page. The user may then go for a virtual reality walk down the street and visit the websites they desire as if they were in an actual store. They might then purchase what they require without having to leave their houses. The metaverse will transform the way we think about web surfing and online shopping.
With sponsored advertising, things will also alter. Paid advertising on Facebook is currently in a state of stagnation, and it will take a lot of work to improve it in the future. The ability of digital marketers to create interactive advertisements is the most critical requirement for paid advertisements. Zuckerberg believes Metaverse will reach billions of people and will host hundreds of billions of dollars of digital commerce. According to Vishal, Head of Metaverse Product, in the Metaverse, there will be many types of creators:
- Creators who make digital objects (Products).
- Creators who offer services and experiences.
- Creators who build entire worlds like game creators.
Vishal explains that businesses will be creators as well, by building digital spaces and even digital products, businesses (as creators) will be able to sell both physical and digital products and services through digital spaces or digital worlds by using ads to ensure the right customers find what they have created.
This new marketplace, will also provide the ability to trade limited edition digital objects like NFT’s and display them in digital places.
Zuckerberg believes the Metaverse will help remove many of the physical constrains we experience today in commerce.
As for us Facebook advertisers, we don’t know yet how it will affect the current advertising objectives such as: Traffic, Conversions, Lead Generation, Post Engagement, Page Likes, Event Responses, Brand Awareness, Reach, App Installs, App Engagement, Video Views & Messages.
All we know, and should expect, is that new features and advertising objectives will be introduced in the upcoming years that will cater this new and emerging AR/VR eCommerce’s marketplace on the Metaverse. We must be up to date and adaptive in order to master the new advertising options and cater our clients using those new VR\AR features.
The Metaverse’s growing popularity has drawn further attention, with some observers dismissing what they view as the IT industry’s newest buzzword. The idea of a lasting and massive “Successor State” to the entire internet, on the other hand, surpasses the excitement cycle’s peaks and troughs for those now operating on the Metaverse. They think that the Metaverse is more than just a term. It is an ongoing development of the internet.
Digital marketers must keep up with the most recent technology advancements. Understanding the Metaverse and its full potential is part of this. We advertisers need to keep our ears to the ground and keep up to date with the new advertising objectives Metaverse will introduce in the upcoming years as well as the digital merchandises (such as VR goggles etc) that will be available and will help transcend the consumer’s experiences in this upcoming 3D e-commerce world.