Top 4 Tips for Selling in the Metaverse
One of the biggest technological developments that could change the world is the metaverse. The main goal of this advancement is to further bring the real world and virtual world together to create a seamless, immersive and ultimately connective experience.
The developments within the metaverse will make many daily tasks convenient and entertainment more engaging than ever for the average consumer. However, they'll also help brands in numerous ways by helping them connect with all types of audiences.
If you're not sure how to go about selling in the metaverse, the following guide will help point you in the right direction. In turn, you'll be able to equip your business for future success as you transition into the digital world.
What exactly is the metaverse?
The metaverse consists of a combination of mixed reality, virtual worlds and the internet. It gives people the chance to create and use virtual avatars to communicate with others, play games, explore many virtual realms, shop and complete myriad other activities.
The term "metaverse" first came about in 1992 in Neal Stephenson's science fiction novel Snow Crash. In the novel, it describes a fictitious world that people inhabit using avatars as a means of escaping the novel's dystopian future.
Facebook's CEO, Mark Zuckerberg, further popularized the concept of the metaverse with the rebranding of the social network Facebook to "Meta," jumping head-first into it as it's continued to develop. The metaverse could ultimately help bring everything together into a virtual space, integrating other virtual developments such as:
- 5G connectivity
- Virtual reality
- Artificial intelligence
One big development that's helped move things forward has been Meta's virtual reality headset, the Oculus Quest 2. This model alone made a total of 4.6 million shipments in Q1 2021, which shows how popular the metaverse really is today.
The Oculus Quest 2 also highlights the evolution of online gaming. The brand behind the game Fortnite, Epic Games, is among the few instrumental tech giants at the forefront of the metaverse.
However, just about any brand can get into the metaverse with digital assets and immersive virtual experiences. As the world approaches integration into this metaverse more universally, brands will benefit from selling within it using effective strategies.
Four tips for brands to get into the metaverse
If you want to sell in the metaverse, you must incorporate some of the specific developments that have come with it. By transforming your business digitally and embracing the vision of the metaverse, you'll be able to build and maintain stronger relationships with consumers.
Here we'll give you some tips to help you get the most from your metaverse branding efforts.
1. Replicate the physical retail experience with a virtual venue
Whether or not you own a physical retail location, you can connect virtually with a digital platform for your business.
If you own a brick-and-mortar store, consider supplementing it with a virtual shop that your customers can explore. In addition, brands can create 3D museums, hangout spaces and other types of virtual venues to engage their audiences.
Within these virtual spaces, you can offer a variety of experiences, including:
- Virtual try-outs of products
- Try-ons of clothing
New and existing customers can then walk through and interact with these locations using their avatars.
This can work across a wide range of industries beyond retail.
For example, real estate agents could create tours using virtual photography and a photo mesh of real-life property to piece together an explorable virtual space. Virtual tours in real estate were particularly critical during the pandemic; many agents conducted these tours using video chat applications like Zoom.
The metaverse would take these tours to the next level.
2. Integrate augmented reality
In addition to bringing people into a virtual space, you can bring virtual elements to them using augmented reality (AR) technology.
Unlike virtual reality (VR), which uses VR headsets to transport users into another virtual world, AR uses the camera on smartphones and tablets, such as Apple iOS devices, to show virtual objects in physical space.
For instance, a furniture retailer could create virtual versions of its products that customers would be able to view at home. Using realistic and accurate 3D models of furniture pieces and a smartphone, the customer would be able to see how furniture would look from every angle.
This would make them more confident in their purchase without the need to see the furniture in person.
3. Create virtual items for digital avatars
Metaverse inhabitants' avatars will become more analogous to their real-life counterparts. To this end, people will want to do as much as they can to personalize these virtual representatives.
Regardless of the industry you're in, there's always a way to cater to this need for virtual items.
As an example, a growing number of fashion brands are selling virtual clothing and accessories for people's avatars to wear.
Even if you're not in the fashion industry, you can develop custom branded apparel and other products. This will further promote your business in the metaverse and turn more customers into brand ambassadors.
Additionally, you can create other virtual items with different uses for avatars. This includes decorative items for virtual homes and venues.
You can even transform virtual items into non-fungible tokens (NFTs), which track transactions involving these products. Using an NFT marketplace, you can sell these virtual art pieces and assets to earn even more revenue from them.
4. Host immersive virtual events and build other experiences
Complementing virtual spaces, you can use the metaverse to hold various virtual events and create other immersive experiences.
One example would be an online convention that brings your partners and customers together in one virtual location. In an online expo, you can organize a gathering that showcases each of your partners along with your offerings.
This gives new and current customers the chance to engage with your brand in a whole new way.
Another way to create an immersive experience is to develop an advertorial virtual game. Known as advergames, these entertaining games that users can play using AR, VR or mixed reality could help sell your brand.
Experiences like these can get more people into your brand than ever by giving them new and fun ways to engage.
Get into the metaverse with the right strategy
By taking these and other steps, you can successfully launch your business into the metaverse. Then you can reap the many rewards it has to offer.
Would you like to find out how Threekit's innovative 3D product configuration platform can help you connect to your customers in the metaverse? If so, then get in touch with us today.