From the moment of delivery, Zuckerberg’s grand vision for the metaverse was; a single, shared, immersive 3D space where physical and virtual realities converge dominated the tech narrative. That was, of course, until the advent of the latest breakthrough in generative AI – ChatGPT from OpenAI – which brought with it an almost human-like ability to generate text, speech, code and even poetry. As we approach mid-2024, the focus has shifted from curiosity to strategic implementation. Companies are proactively exploring how these advanced technologies can be used effectively in marketing to maximize return on investment (ROI).
VP Marketing at Storyblok,
Two and a half years later since Meta’s revelation and the story is certainly gone. But that doesn’t mean it’s time to say “RIP metaverse.” Far from it. Even against the backdrop of Meta’s layoffs, tech giants like Apple, Microsoft and Google continue to gain speed in the race to invent the “next iteration of the Web.” Meanwhile, Nike now sells virtual sneakers, H&M has a virtual showroom and Coca-Cola has ended up in Decentraland. Additionally, Apple’s recent Vision Pro launch will catalyze the transition to the metaverse, creating a more inclusive, engaging, and powerful virtual environment for users around the world.
For busy marketing teams, this naturally raises all kinds of questions. What does this mean for my brand first and foremost, and how can we be a part of it?
To answer the first question, the good news is that the metaverse will – literally – bring a whole new world of possibilities, especially when it comes to the marketing category.
Take the digital customer experience, for example. More than ever, consumers are increasingly looking for immersive, meaningful brand experiences that go beyond traditional marketing methods to capture their attention and create deeper connections with brands.
Then imagine the potential that the metaverse offers brands to combine augmented and virtual reality with a level of interactivity never seen before. From virtual showrooms and live product demonstrations to interactive brand events, the potential for creating immersive marketing experiences is enormous. For example, the metaverse makes it possible for consumers to visit their favorite retailer, get real-time inspiration depending on their needs (whether it’s a special occasion or a holiday), and make a purchase after experiencing a new look virtually have tried. Similarly, car companies now offer virtual test drives, allowing customers to experience a car’s features in a controlled, yet remarkably realistic, digital world. This opens up new opportunities for brands to extend their reach to anyone with an internet connection, tapping into global markets in ways previously unthinkable.
Gen AI: the next frontier in brand engagement
Of course, that’s not to say that the metaverse is the only big tech game in town. Since the advent of OpenAI, generative AI continues to shake up the marketing industry like never before. What’s great at a basic level is that generative AI can provide tremendous support in taking over the regular and routine marketing functions, freeing up human resources for more strategic tasks, and improving overall efficiency. But its use goes much further. As we all know, in this age of the digital-first consumer, it has never been more important for brands to create content that is unique, customer-centric, personal and relevant. AI can help here too. For example, AI-driven platforms can now create personalized email marketing messages that resonate with individual preferences and behavior, significantly increasing conversion rates. The role of generative AI in improving customer experiences is also unparalleled. For example, AI chatbots have become more sophisticated and can handle complex customer queries with ease and accuracy. This not only improves the customer service experience, but also supports greater efficiency.
Unleash both for next-level marketing
The combination of the metaverse and generative AI offers brand new opportunities for marketing strategies. For example, a company can use generative AI to create dynamic and personalized content within a metaverse, such as custom avatars or unique, on-the-spot generated promotional events that engage users in real-time. Furthermore, these technologies are redefining the concept of customer journeys by creating continuous, engaging stories that guide consumers through a seamless transition between virtual and real worlds. Brands that understand how to navigate and integrate these technologies are setting new standards in marketing and delivering experiences that are not only engaging, but deeply integrated into users’ lifestyles.
Challenges and strategic considerations
While the potential is enormous, integrating metaverse and generative AI technologies into marketing strategies is not without challenges. Issues such as data privacy, the digital divide and the need for substantial infrastructure investments are significant. Companies must carefully address these challenges to build trust and ensure a secure environment for their users.
Strategically, companies must decide whether to invest in one or both technologies, based on their specific marketing goals and the needs of their target audience. The decision should be in line with the company’s overall digital transformation strategy and its willingness to adopt new technologies.
Ready for growth
Technology, a digitally empowered customer and changing market dynamics continue to challenge the traditional marketing model and force greater innovation, immersion, personalization and differentiation. By leveraging the exciting new possibilities offered by the metaverse and generative AI, marketers can ensure they not only meet but exceed expectations, and remain ready to attract, inspire, entice and ultimately to convert.
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