There are numerous news reports and articles discussing the metaverse’s arrival and its potential to transform customer interactions, but it is no longer just a future concept. The metaverse is already influencing brand interactions and provides an opportunity for companies to engage with their audiences, generate loyalty, and increase conversions. The metaverse, based on community connections, immersive experiences, and innovation, is revitalizing major companies’ marketing and customer experience strategies. Here’s a glimpse into how some of these big companies are adopting the metaverse.
1. Engaging Customers through NFTs
NFTs, which are linked to the Metaverse and decentralized internet experiences, offer an exciting new way to engage customers. Consumers can collect virtual art, avatar assets, and other products in the metaverse that are transformed into Non-Fungible Tokens. These tokens provide a new avenue for revenue for companies while offering consumers a unique way to connect with their favorite brands. Nike, for example, created “Nikeland” in 2021 on the Roblox platform, where consumers can play games, purchase avatar clothing, and collect NFTs. The virtual version of Nike’s store, based on the company’s headquarters, has already attracted around 21 million visitors as of September 2022. The Metaverse enables Nike to engage its audience and showcase its products in new ways beyond physical stores and traditional websites.
2. Introducing Limited Edition Sales
Offering exclusive sales and deals is a great way to attract customer attention and generate excitement around a brand, and the metaverse is an excellent landscape for hosting such unique events due to its relatively “exclusive” environment. To commemorate its 100th anniversary, Gucci, the fashion company, hosted a metaverse experience of the “Gucci Garden” on Roblox in 2021. The unique experience featured an art exhibition that aimed to boost brand recognition among younger clients, themed rooms showcasing some of the company’s most famous campaigns, and a store where customers could buy limited-edition products for their avatars based on a display in Florence.
Similarly, Coca-Cola released a special collection of metaverse NFTs for International Friendship Day in 2022, with a limited number of items available to collect. The beverage company has announced plans to continue working in the metaverse and create new limited-edition collectibles in the future.
3. Integrating Game Elements into Advertising Campaigns
According to a survey, 93% of marketers not only benefit from using gamification in advertising, but they also plan to continue using this strategy to increase brand engagement in the future. In a crowded landscape, gamified experiences can be an excellent way to encourage community involvement and promote word-of-mouth marketing.
The metaverse provides an ideal environment for gamified marketing experiences, as many of the existing “metaverse” environments are already integrated into popular games. Many companies are already taking advantage of the metaverse for gamification, with Lamborghini offering a sneak peek of its new car as an unlockable vehicle in Fortnite. Similarly, Wendy’s created a unique character in the Fortnite game to promote its fast-food brand. The character aims to “destroy frozen beef” in the “Food fight” game mode, and Wendy’s even streamed its own gameplay to consumers, attracting over 250,000 live viewers. This campaign won several influence awards.
4. Building Digital Shops in the Metaverse
Virtual stores in the metaverse present an exciting new opportunity for companies to connect with consumers in a digital world. As customers increasingly shift towards online shopping, businesses need to provide more immersive experiences to keep up with the trend.
For example, in January 2022, Samsung launched a new metaverse environment in Decentraland that replicates its New York City store. Since its opening, the virtual store has attracted over 120,000 customers who can explore and shop for different products, interact with in-game characters, complete missions and more.
The metaverse also offers a chance for businesses to sell new products beyond their current portfolio. For instance, the British fashion brand Burberry collaborated with Blankos Block Party to release a new NFT collection for fashion enthusiasts.
5. Building Campaigns to foster Customer Loyalty
The metaverse presents an opportunity for companies to build loyalty and trust with their target audience through community building. One way that companies can promote customer commitment is through the collection of NFTs. Some companies have already integrated metaverse assets into their loyalty and VIP reward programs. For example, Clinique offers its reward program customers the chance to win not just beauty products, but also exclusive NFT artwork. As businesses strive to maintain customer engagement, they may find that loyalty programs centered on the metaverse provide significant benefits.
6. Providing Customer Service
The metaverse is considered a potential game-changer in customer experience, providing companies with a new channel for personalised service and support. As companies focus on developing omnichannel experiences, they can leverage the metaverse and XR environment for customer service. For example, Tommy Hilfiger allowed customers to interact with products in a virtual world and purchase NFTs and physical items in a metaverse environment. HSBC is shutting down physical branches and investing in new digital environments in the metaverse to engage new customers with service solutions, gamified experiences, and marketing campaigns.