This is our second post in the "A Voice in the Metaverse" series. For more information on the Metaverse, read our first blog on research and the Metaverse.
This week, we will discuss marketing, voice systems, and the Metaverse. First, let's explore the first part of these connections: Metaverse marketing.
How does marketing connect with the Metaverse?
The economic value of the Metaverse is estimated to be $5 trillion by 2030. Among that future value includes early adopters. About 60% of companies who've heard of the Metaverse are actively investing in it. A similar percentage of consumers are excited to transition to it.
But this isn't just about what is to come; this is about what is currently happening. Even in 2022, the Metaverse is a marketing hub attracting some of the world's largest companies.
Below are a few examples connecting the Metaverse and Marketing:
- Vans, the famous skateboarding shoe company, created a "Vans World" within the Roblox Metaverse that resembles a real-world skatepark.
- Gucci is advertising heavily in the Sandbox. The Sandbox is a Web-3 Metaverse with a strong emphasis on NFTs (non-fungible tokens) and cryptocurrency.
- Facebook has rebranded to Meta, investing up to $15 billion in its own Metaverse project, Horizon Worlds, which connects with many gaming-based marketing initiatives.
- Hyundai has created a Metaverse space in Roblox to reach an audience of new drivers.
There are more examples of how the Metaverse is widespread in marketing. But ultimately, it all comes down to one factor other marketing channels do not have: creating unique virtual experiences.
The Metaverse is a way to enhance our current physical reality. From the most straightforward perspective, it's a way to create, express, and collaborate. You might consider it an evolutionary step of social media, which serves the same purpose.
Of course, if you want to create truly immersive experiences, you need the next factor: voice control.
Voice marketing within the Metaverse
A big problem with metaverse advertising comes back to the medium delivered. Despite having advanced technology, advertisers tend to use cutting-edge tech in traditional ways.
In many of our examples, interactive digital marketing experiences rely on text-based formats. Ultimately, this doesn't leverage the platform to its full potential, as viewers might only remember 10% of that message.
To overcome this, people need to remember the other half of video advertising: audio.
But it isn't enough for marketers to add audio; they also need to make this part of their interactive experience. The Metaverse can create fully immersive audio-visual experiences.
Using voice AI marketing in the Metaverse
Below are a few examples (some of them in use today) of how voice AI can help your future potential Metaverse marketing strategy:
- Creating interactive vocal experiences will connect consumers to make online purchases by interacting with a chatbot and voice recognition system. This way, you can make online purchases while emulating the in-store experience.
- Voice recognition systems can help encourage users to talk about products and receive rewards. This might promote metaverse-based affiliate marketing initiatives, monetizing some metaverse conversations.
- One-to-many marketing interactions can help customers get questions answered through a Q&A chatbot. Beyond FAQs, this can also be a modern form of a webinar, letting speakers proceed interrupted while users can have their questions recognized by AI voice software.
- Fully immersive storytelling experiences can help gamify products. Combined with voice-recognition software, it can help the VR user feel more involved with the experience.
- Voice experience can help establish a brand's personality with greater ease. Marketers can create unique brand responses that support them to become more memorable. Those responses can change depending on how people react.
- Virtual avatars can use voice recognition software to change facial expressions. Companies can sell these expressions, animations, or branded virtual products and connect them back to what they sell.
Why voice marketing is a necessity in the Metaverse
The Metaverse is becoming a modern social media platform. Its users connect, collaborate, and communicate on the platform. But its users won't want to use standard chat forms; they will want to use their voice.
Because of this, voice tools are essential to remain relevant in the Metaverse. By becoming an early adopter of this technology, your company will better understand how it works when others are struggling to keep up.
Contact our sales team at True Reply today to find out how these Metaverse voice applications can work for you.