he overlap between the metaverse and gaming is significant, as the metaverse—in its current form—is nothing more than a rebranding of an MMORPG. For those unfamiliar, MMORPG is Massively Multiplayer Online Game and it can be traced back to 1995.
The concept is technically stunning and creative: a borderless open world where you can explore and meet with others. You can interact with shops, other people, join or create communities, customize your viewpoints, build things, and so much more. To note, I am referring to World of Warcraft, not the metaverse. Again, we’re talking about its current form, steeped in gaming.
The current day metaverse does not have a clear definition, nor is it fully functioning, despite the current hype cycle. The companies that are investing in building out their own version, and portions of the whole, are angling to have a say in what it will one day be.
But for non-Fortune 100 brands who may not have the technical infrastructure or resources to create a virtual world, it is, at best, an aspiration. It doesn’t have to be! Because brands at any stage or level can use gaming as their first test for what is to come.
The Data Presents a Loud Signal
Consider the data: the 2022 Entertainment Software Association found that the average age of the gaming population is between 18-34 years-old; 46% of this population are women and they have a fondness for mobile games. This is one of the most sought-after demographics to earn share of wallet—it’s an important signal.
When we talk to brands, we present them ideas that are strategic and flexible enough to live in a variety of spaces—including the metaverse. Their questions are often around ROI and how it ladders into marketing objectives along with cost, feasibility and value to the consumer.
As the technology continues to take shape, our deep research into perceptions and engagement have identified three areas where brands can play. Some are more immediate (and get brands’ feet wet) while others are big, bold and buzzy.
Create Something for Players
People on platforms are generally not interested in leaving it, so meet them where they are and give them something they will like. One of the more successful ways this can happen is through DLCs (downloadable content), whether it’s outfits by Ralph Lauren for characters in Fortnite, virtual items from IKEA to buy for an Animal Crossing island or Mercedes Benz performance kits in Forza.
Similarly, loot boxes can be a great way to gain awareness. Dropping in-game special items for players, especially for mobile games like Pokemon GO, or real-life coupons and loyalty points, is an easy way to add both fun and value for consumers. It also stretches a brand’s muscles, making it a low-stakes/high-reward consumer opportunity.
Going Live (Virtually, not IRL)
Hosting or sponsoring on-platform events boomed in 2020 and has proved to have staying power. Putting together a virtual concert or in-game event, like BLACKPINK’s 2022 concert on PUBG, is a way to gain awareness and engagement. There are also opportunities in live competitions that can be run as one-off events or multi-day activities. To build on this approach, one could take these same plans and push them on social platforms like TikTok, Twitch and YouTube and consider ways to tie into social commerce or even live shopping.
Partner Up
A larger but realistic business effort would be to consider smart partnerships. Some brands have the technical requirements and can afford to fully build out experiences in metaverse and gaming spaces. It makes sense to collaborate and support on-brand initiatives in this space through partnering.
If you are a CPG brand (including a challenger), this could take the form of working with a retailer like Walmart, which is building virtual shopping in Roblox. Or, if you are in the restaurant space, working with an AB InBev brand during major sporting events to create virtual fan clubs – similar to Bud Light’s Halftime show metaverse bar – where they can interact with your brand to receive real world coupons or free delivery.
When done well, showing up in these adjacent and unexpected places can bring both value and delight to consumers. And while there is, as yet, no ‘Capital M’ Metaverse to engage with, these types of brand activations are at the heart of what the metaverse aspires to be. If you recognize the future value of giving your brand a presence in the metaverse, exploring the opportunities currently available through the gaming industry is a great place to both engage with prospective audiences and fine-tune your approach. It’s what the gamers might call a win/win.
This is a repost. The original publication can be found on The Drum.