Marketing in the Metaverse: How To Conquer the Next Digital Frontier
HotPlay’s Chief Commercial Officer, Pimsai Chichareon, along with other gaming industry experts discussed the marketing opportunities in the Metaverse for brands in 2022 and beyond. In the seminar, Pimsai shared her views on the Metaverse future and what brands should do to state their claims. She illustrated that there are limitless opportunities lie ahead in the Metaverse and brands should get themselves prepared and be ready. Please see exclusive excerpts from the session below:
Q: How would you define the Metaverse in your own view?
A: There are many definitions of Metaverse, probably because it can be anything possible. I think Metaverse is the extension of our lives. In the world that we are living in today, we only use the internet as a medium to interact, transact, and conduct activities. The line between the physical world and virtual world is still quite clear.
However, the Metaverse world will allow us to transfer value (rather than just information) from the virtual world to the physical world. In the future of the Metaverse, we might have an avatar that represents a digital version of us, doing activities and sharing our uniqueness. It will be amazing.
Q: How can brands get involved with the Metaverse?
A: Today, people are getting into the Metaverse by using games as the platform. For example, the avatar is being used to express our identity through in-game fashion items. We socialize or even host events in the game. According to research from Newzoo, some Gen Z players use games as a platform to socialize, sometimes they get into the games just to hang out with their peers but do not actually play the main game.
Brands need to strategize how to be present in the Metaverse. In-game product placements that are non-intrusive, which can be blended within the game environment, might be one of the ways to start with. Many product discoveries can be gamified and adjusted to fit within the game. They can be in the form of standalone advertisements, sponsored in-game quests and many others.
Brands can give incentives to gamers via giving away in-game tokens, NFT items or real-world coupons. There are many creative ways to help brands integrate into the gaming world and the opportunities are limitless.
Q: How can brands help enhance the gaming experience?
A: The Metaverse will push the boundary of creativity. Brands must find a new way to enhance gamer’s experiences rather than just to straightway sell the products. Games can offer experiences that are unthinkable in real life.
On the technical part of advertising in the Metaverse, what we do today as an in-game advertising platform is that we have tools to help brands integrate within the game. We use native ads that are not intrusive and can wrap around the objects inside the game. We also can help brands run their in-game promotions and campaigns. What we are trying to promote is being as the bridge that connects between the virtual and the physical worlds.
Q: Could you please leave some final words on the opportunities for brands in the Metaverse?
A: The Metaverse is a new platform that will offer a lot of rooms for experimentation. Best practices of how brands can excel in this new world have yet to be established. We will have to wait and see how it will evolve and keep adjusting ourselves to it.
I am certain that this opportunity is something we cannot miss. Brands need to start thinking about how to create their digital journey and how they can co-exist both in the physical world and the virtual world. Building a deep relationship with the audience will be one of the main keys for achievement in the new world.
For more information, you can find access to the full webinar recording below:
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