- We may have just found the future of marketing.
Let's talk about the metaverse.
- Metaverse
- Metaverse.
- [Man] The metaverse.
- Metaverse is an open world, digital environment
filled with virtual characters.
All representing real people.
Think of it like a video game
except all the players are interacting in real time.
And instead of just trying to accomplish
some Mario-style goal,
you can do things like work, play, eat, chill.
And for all my marketing heads out there, shop.
All from the comfort of whichever device
you decide to drop in on, metaverse marketing
is that new, new.
It lets brands maximize their creativity
and reach their target audience directly,
all while being supported
by super secure blockchain technology.
And with the metaverse market size
predicted to reach $800 billion by 2024,
it's not really a surprise to me
that brands who want the eyes of a much younger audience
are finding some endless new possibilities.
Louis Vuitton had a problem,
a big challenge for any company founded in 1824,
is that they need to keep introducing themselves
to new generations.
And in 2021, there was no better way to reach that audience
than the $180 billion giant called the video game industry.
So via iPhone, Android and meta VR headsets,
formally known as Oculus,
The company released "Louis the Game."
Players could try on digital Louis V. Gear,
and are tasked with collecting candles
to commemorate the birthday of Louis Vuitton himself.
But, for all my marketing heads out there,
they also hid 30 NFTs that the customer could find,
collect and own.
10 of which were designed by Beeple.
And if you don't know who Beeple is,
don't worry because the graphic on the screen right now
should be telling you exactly who Beeple is.
By reaching out to younger audiences where they lived
and inviting them to experience the brand
without not only not having to buy anything,
but actually receiving value,
They saw a half million downloads in its first week.
(soft piano music)
Number 1. You can be anywhere.
Embrace this new world without walls.
And in this digital space,
brands can have a limitless audience
that they can sell to.
No more physical store binding you
to the population of that location.
More space equals more eyes
More eyes equals more customers.
More customers equals more money.
You see where I'm going with this.
Number 2. Fresh new audience.
To get around the customer fatigue of your current audience,
Metaverse can also provide you with access
to a built-in audience of gamers
who can now be your customers.
No, no, no, no.
Don't roll your eyes.
As a gamer, well, a kind of gamer,
I love video games.
We're often really overlooked as an untapped resource.
Remember, the video game industry is larger
than both sports and film industry combined.
So this could make perfect sense
for companies looking to reach out and get younger.
Number 3. Own branded locations.
From fashion to furniture,
virtual showrooms are major asset
for both brands and customers
because they allow you to show off your product.
They allow the consumer to interact with your product
to see if they like the look and feel of it.
These showrooms reduce the number
of product returns and perfectly bridge the gap
between online and in-person shopping.
Play Roblox.
If you don't know what Roblox is, and you have children,
just ask them and they will school you directly,
but don't laugh.
This isn't an endorsement in anything,
but if you're still struggling with the overall concept
of the metaverse, it's a really good introduction
into how physical reality connects to digital reality.
Number 5. Buy a metaverse VR headset
formally known as Oculus, and explore the platform.
While you can definitely access the metaverse
in a few different ways,
this is the most 360 visceral and popular amongst everybody.
By purchasing this tool,
you get the ability to explore the metaverse first hand
to start to gain both insight and inspiration.
All right, everybody it's come to that part of the video
where I wouldn't be your friend if I didn't warn you.
So, let's get into some of the downsides of the metaverse.
Number 1. Kind of expensive technology.
Buying the hardware to access the metaverse
can be expensive for some.
While they are offering discount programs,
the overall cost for both hardware
and the internet can be a bit steep.
Number 2. Everyone doesn't have internet access.
37% of the global population, that's 2.9 billion people,
still don't have access to the internet.
Because it's a web-based platform,
many users around the globe will have trouble getting online
since they don't have access
to the same cellular data and internet connection
required to load the metaverse itself.
Not really something you want to hear
if you're trying to market on a world stage.
Number 3. Harassment.
From sexual harassment to racism,
the metaverse has been making headlines
for situations where users overall feel unsafe
in this new world.
While these claims do get addressed,
they represent the cost on a branch to weigh
before diving into the metaverse head first.
So while this field is definitely still in its early stages,
it represents a brand new beautiful piece
of marketing real estate.
And with all these companies currently betting big money
on creating content specifically designed for the metaverse,
It's a space that's probably gonna be around for a while.
As always, If you wanna stay up to date
on which marketing technological advances
you need to know about, click the link in our description
for our guide on emerging tech.
Until next time, adios.
(upbeat music)
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See, most CRMs are a coupled together mess,
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