What Brands Should Know About The Role of Immersive Media in their Marketing Communications in 2024
The metaverse, a term once confined to science fiction, is rapidly becoming a reality, and it's poised to reshape the landscape of marketing and communications. As brands navigate this evolving digital frontier, they must understand its transformative potential and develop well-informed strategies to engage with consumers authentically. We asked some of the M100 Awards judges to share their insights on what brands should know about the role of the metaverse in their marketing and communications in 2024.
John McCarus: Focusing on Customer Engagement
2024 presents an opportunity for brands to cut through the noise and debates about the metaverse's viability and concentrate on their customers. The key is understanding where your target consumers spend their time. If they're in the metaverse or online gaming, brands need to meet them where they are. In times of uncertainty, the smartest companies focus on growth and market share, sticking to their long-term goals while others are distracted. Companies like Nike, Lego, and Shopify are setting the pace for innovation in a rapidly changing landscape.
Sasha Wallanger: Authentic Connection Across Realities
Just like I shared with Salesforce’s Chief Marketing Officers at the Web3 Summit in 2022, the metaverse, and emerging technologies in general have the power to connect us to information, people and experiences in a way that hasn’t been done before. It offers the ability to build, grow and collaborate in the present and for the future. It’s an exciting tool to connect consumers and brands, as they develop immersive digital and virtual experiences that have the power to attract new and existing market segments. However, most importantly, brands need to embark upon this journey with a well-researched strategy and roadmap that leads their marketing and communications initiatives to deliver authentic points of connection, in whatever reality, virtual or IRL, they choose.
Monica Talan: Immersive Experiences Rooted in Inclusivity
In 2024, brands should view immersive experiences as an experimental opportunity to engage consumers in new ways, moving beyond the term “metaverse.” Fashion and consumer brands are already leading the charge in launching innovative immersive activations. While still emergent, virtual environments provide powerful options for brands to connect with communities and co-create utility, entertainment and user-generated content. Success will come to brands that strategically enhance the consumer journey through thoughtful immersive experiences rooted in inclusivity and enabled by AI. Rather than over-investing, 2024 calls for calculated tests measuring how augmented reality, virtual reality and 3D environments can deepen brand relationships when integrated in the broader marketing mix.
Jeremy Bloom: The Metaverse as a Realm of Innovation
The immersive media, like the metaverse, is a connected and shared space with consistent innovation cultivated by 0s and 1s, growing and changing just like life itself. As cultures and society continue to spend more time online, there'll be more innovation in this realm for marketers. From The Simms to World of Warcraft to Roblox to Meta. AI has been reshaping how we engage, manage time, and communicate (via plugins, chat widgets, meeting notes), the same can be said for how brands communicate with their loyal, yet disparate, audiences that get harder and harder to reach. Innovative marketers see this and they'll continue to carve out budgets to maximize the impact and SOV in different ecosystems.
Ty Braswell: Connecting with New Audiences
The Metaverse will continue to evolve and create new immersive experiences for select audiences that can interact with each other in real-time. For select brands, this will provide a new path to connect with their key audiences.... especially with the youthful Gen Z and Gen Alpha demos. This requires marketers to be current with the new features of virtual and immersive digital platforms to see how certain metaverse trends could be the right catalyst for new user engagement for their brand.
New methods of advertising will evolve to utilize super creative immersive ads and bold product placements. The smart brands will find success by utilizing their creative courage in how they gracefully integrate their messaging without disrupting the user experience.
It’s possible we might see deeply rich and immersive brand storytelling within this next phase of the metaverse with new types of creative narratives and experiences that deliver high engagement.
Braswell asked ChatGPT 3.5 for the answer to the question of what brands should know and got the following answer:
“Immersive media represents a transformative shift in the way brands can connect with their audiences. By understanding the metaverse, embracing innovation, and prioritizing user engagement and privacy, brands can position themselves for success in this new digital frontier. It's important to remain agile and stay informed about evolving trends and opportunities as the metaverse landscape continues to evolve in 2024 and beyond.”
2024 is poised to be a pivotal year for brands seeking to unlock the potential of the metaverse. Understanding customer behavior, embracing innovation, and prioritizing authentic engagement will be the cornerstones of successful marketing and communications in this new digital frontier. Brands that remain agile and informed about evolving metaverse trends will position themselves for success in the dynamic landscape of 2024 and beyond.
Have you entered to win a coveted 2023 M100 Awards for innovative companies in the immersive media, metaverse, artificial intelligence, augmented and virtual reality and Web 3? Submissions are now free!
