If you’re like most Americans, you’re not quite sure what the metaverse is. This can be problematic if your clients have expressed an interest in advertising in the metaverse. (But don’t worry; statistically, they probably don’t fully understand it themselves.) So, if you’re worried about being a marketing thought leader in this space, here’s a crash course on the metaverse and advertising in it.
What You Need to Know About the Metaverse
What is it?
According to a survey by Variety, it’s okay that you don’t fully understand the metaverse. Only 54% of American consumers have even heard of it. And of that 54%, only 28% are very confident that they could explain the concept of the metaverse to someone else.
So, what is the metaverse? Variety quotes Hub Entertainment Research to provide a definition. “A virtual world where people can ‘meet’ and interact with each other through the use of three-dimensional avatars. Virtual reality and augmented reality technology would allow people to feel they’re actually physically present with other, at concerts, parties, sports events, workplaces, in the middle of video games, at other peoples’ homes, in cities around the world, etc. – without actually being there.”
It sounds a lot like virtual reality by itself, but that isn’t quite the case. Instead of a place, the metaverse is more of a collection of digital experiences, says Variety. The combination of virtual and augmented reality will allow us to “interact in ways that are currently impossible (like playing a game on a platform with no cap for concurrent users).”
It’s exciting to think that within the next five to 10 years, this technology will be fully developed. And of course, the metaverse will present its own advertising opportunities.
Advertising in the Metaverse
Who Should Your Clients be Targeting?
Variety reports on surveys showing that men tend to be more excited about the metaverse than women. Men are more likely to love the idea of the metaverse (25% men vs. 14% women) and less likely to hate it (28% vs. 35%). Why is this the case? Probably because the metaverse is gearing up to offer more stereotypically masculine-related activities. Companies that want to jump into the metaverse include the NFL and NASCAR.
When it comes to age demographics, it’s safe to skew younger, says Variety. For example, when Hub Entertainment Research asked different age groups what they thought of the metaverse, here’s how many members of each group said they loved the idea of it:
- Ages 13–24: 30%
- 25- to 34-year-olds: 27%
- Over the age of 35: 14%
Where to Target Consumers
Once the metaverse is widely available, consumers show the most interest in using it to:
- Socialize with friends: 58% are at least somewhat interested
- Play video games: 55%
- Watch movie premiers: 52%
- Attend concerts: 51%
- Do their jobs: 50%
- Watch TV series screenings: 48%
As more advertising information on the metaverse comes to light, you should encourage your clients to place their ads in these spaces.
Metaverse advertising will be a great opportunity for your client. However, we know that effective marketing campaigns are often omnichannel. So, how else should your clients be advertising to these tech savvy consumers? You can look up consumer profiles on AudienceSCAN on AdMall by SalesFuel. There, you’ll be able to see which types of advertisements are the most effective on different groups of consumers such as:
- Techies – Early Adopter
- Tech Hobbyist
- Virtual Reality Device Users
- Video Gamers
- And more!
It’s never too early to start thinking about the next stage of your client’s advertising strategy. Pay attention to new developments in the metaverse to ensure that you and your client are ready to be among the first advertisers in the space.
Photo by Sara Kurig
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