Increase your brand equity online by going into the metaverse

Opinions expressed by contributors are their own.

Innovation is critical for brands looking to break away from the competition and embrace creativity. Companies are starting to see the benefit of NFTs: digital products with unique identifiers. Companies integrating NFTs into their branding strategy should consider partnering with NFT creators, symbolizing events, converting physical products into NFTs, licensing and hosting NFT contests and giveaways. zip line survey results indicated that 84% of Gen X, 70% of Millennials, and 63% of Gen Z would be interested in an NFT of brands they like.

NFTs enable brands to add value to digital products; however, the product must be of value to the consumer. Brands like Gucci have made NFT apparel, and Nike offers digital sneakers that avatars can use in the metaverse. The emerging use of NFTs now enables brands to merge the digital and physical worlds; consumers can buy or win a digital product such as an image or video, after which the company can provide a physical branded product to close the marketing loop. Companies can design NFTs themselves or use a company that specializes in NFT creation and NFT platforms. NFTs are a viable option for brands to connect with consumers and increase brand awareness. Brands that invest in using a turnkey NFT platform are more likely to make a profit in the market.

Related: Your brand can become part of the Metaverse. Here’s how.

Design an interactive virtual shop window

In the past, customers would visit a website or app to access products offered by a company. Advances in technology allow brands to create more immersive experiences for customers. Customers can visit a virtual storefront, such as Nike’s, to go beyond just looking at products. In the metaverse, customers can use digital products by using an avatar to try on clothes and other products. The prospect for brands to elevate the customer experience from a dull website visit to a rich and immersive encounter needs to be explored. A Accenture consumer research indicated that 64% of respondents made a virtual purchase and 83% were willing to make purchases through the metaverse.

Brands that mimic the convenience and efficiency of a traditional in-store shopping experience are more likely to capture customer attention. Once the decision is made to launch a showcase in the metaverse, companies must decide which metaverse platform to use. There are well-known platforms, but brands should consider building their own for greater control. The shop window design can be a standalone app or virtual space. Multimedia companies can help the brand create and design interaction layers that define storefront functionality and the ability to integrate with third-party tools. Customers can have a 3D experience with wearables such as virtual glasses, haptic gloves, smart glasses and VR headsets. Well-built storefronts enable a high degree of interoperability with increased consumer access to data and manipulation of digital objects.

Related: 4 Ways to Revolutionize Your Customer Experience in The Metaverse

Create virtual events

Virtual meetups are in thanks to the Zoom boom, and brands can capitalize on the change by hosting custom virtual events. Immersive virtual experiences can attract new business customers for brands looking to go beyond geographic boundaries. The type and structure of the virtual event are limited only by the level of creativity and allow unlimited customization. Brands can collaborate with influencers or even create their own virtual influencer.

Businesses can host live or pre-recorded events that can be accessed from a mobile device or laptop. While 3D events that require VR glasses or headsets are possible, they are not as popular now.

Entertainers are one of the largest groups using the metaverse to engage customers in live music, comedy shows, and other social events. Visitors to virtual events can be present in the virtual world using avatars that allow them to dance with others while listening to their favorite artists. Roblox leveraged the innovative technology of the metaverse with over 33 million attendees for its virtual concert event. The gaming market, including Fortnite, has successfully used VR games to promote products during customer interactions, demonstrating the power of virtual branding.

Virtual exhibitors can create realistic interactions, such as traditional events in a conference room. Companies can use branded booths to showcase different content, but high-quality productions are essential. Brands can use virtual tokens, badges, avatar upgrades and digital giveaways to convert fans into customers. The metaverse offers the opportunity for more involvement with the participants. Brands need to make targeted decisions to ensure that potential customers are part of the event, not just spectators.

Related: 5 Content Ideas To Attract People To The Metaverse

Launch your own metaverse

Having a presence on virtual platforms is good, but owning one yourself is even better. Brands should look into creating their own virtual platforms. While it may seem financially risky at first, the ability to deliver noticeable and targeted customer interactions will only enhance the consumer experience. Companies that want a successful launch in the metaverse must prepare a market analysis to ensure that the project meets customer needs and outperforms the competition. Some companies even offer the option to create your own secure smart contracts, NFT marketplaces, and more.

Related: Back to the Future: What It Feels Like to Use a VR Headset for the First Time