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To Metaverse or Not to Metaverse isn’t the Question
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Dismissing all the hype around the metaverse would be a mistake. Metaverse marketing strategies do not need Mark Zuckerberg to be on track to become the future norm, perhaps a lot sooner than some brand managers might think. After all, when it comes to interacting with consumers, the metaverse experience has already taken things up a notch. This article provides six mistakes to avoid when planning a metaverse strategy. Mistake 1: Assuming the metaverse is far away. Mistake 2: Trying to dominate. Mistake 3: Assuming the metaverse will reflect real-world structure. Mistake 4: Focusing on transactions (in fact, the metaverse is also about creating new consumer connections, cultural relevance, and community clout). Mistake 5: Failing to seize the opportunity to drive stakeholder capitalism. Mistake 6: Equating the metaverse to NFTs. Ultimately, the evolution of the metaverse will bring together today’s disparate and fragmented ecosystems, allowing businesses to connect with consumers and solve problems in revolutionary new ways. We’ll soon see how far things go in 2022. But whatever happen this year, the writing is on the virtual wall—and it says the winning brand strategies for the metaverse will not take a business-as-usual approach.