Meta's Effect on the Future of Digital Marketing
In recent years, technological advancements paired with the effects of the pandemic have left our collective society spending more time in front of screens than ever before, and businesses have taken full advantage of that fact through the development of digital marketing. As society moves forward in the development of modern technologies, digital marketing practices will also continue to evolve. Today, it is vital for most businesses to have a digital presence in order to succeed.
But it seems like we’ve come so far already–– what’s next in the advancement of social platforms?
Last year, Mark Zuckerberg announced the emergence of a new social platform: Meta. To give a brief overview, Meta will use virtual reality to revolutionize users’ experiences with social platforms. Think about Roblox or Fortnite. These are platforms that consist of immersive, 3-D “worlds” navigated by an avatar created by the user. Users can socialize with others, play games, and build worlds. Similarly, Meta will also be a fully immersive virtual world, but with the incorporation of real-life as well. For example, your avatar could walk into a clothing store, see and hold an item, try it on, and purchase it. Your avatar could even attend business meetings through Meta while you’re still in the comfort of your own home, which will shift the idea of working remotely altogether.
Needless to say, as Meta arises in the next few years, digital marketing practices for both B2C and B2B companies will see a transformation.
So what does this mean for the evolution of digital marketing?
Brands have quickly taken to metaverses to establish a presence in preparation for the next five to ten years, when metaverses become more widespread and are used regularly. Once Meta arrives, there will be more competition between the metaverses and brands will have to strategize where they want to build their worlds.
Currently, digital marketing consists of text, graphics, or videos used across social media, search engines, or websites to attract consumers. Within the Metaverse, these digital marketing tools will have to become 3-D and more interactive and immersive in their media.
This will present some challenges because brands will not only have to adapt their digital marketing methods to the new virtual technology, but also think of creative ways for users to engage with their ads on the new platform. Because the Metaverse is such a new concept, it may be difficult for businesses to integrate their brand identities and customer base seamlessly at first. There are already several B2C businesses like Sephora, Chipotle, Nike, and Verizon that have established a presence on Meta. It’s important for B2B businesses to get a head start in the Metaverse before virtual real estate becomes too expensive.
Consequently, as businesses learn how to market themselves within the Metaverse, we may see less of a distinction between B2C and B2B marketing. The main objective behind marketing on Meta is to allow users to experience a product or service virtually. Not only can businesses hold virtual conferences and meetings on Meta, but also virtual events, office spaces, corporate conventions, and trade shows. Meta will give B2B marketers the opportunity to build relationships with potential prospects, offer client demos, customize offerings, engage in customer support, and have real-time interactions.
As the idea of using a Metaverse becomes more popular and normalized, brands will have to adapt and keep up with the new technology. Meta will allow for further development of digital marketing as we know it, while giving brands the opportunity to explore and experiment with new, different, and creative advertising methods that have the potential to draw in masses.