The news of Facebook’s recent name change took the world by storm. In the wake of whistleblowers and claims of digital inequality, Facebook’s brand name shift was a textbook example of rebranding and reshaping the public’s opinion of the rising digital giant.
While Facebook itself didn’t change its name – Facebook is still Facebook after all – the parent company unveiled its new moniker Meta, stating it was more aligned with the long-term vision of the company as it grows and expands in the digital space.
So what is Meta and, more specifically, the metaverse? And more importantly, why should you care?
The Greek prefix “meta” means across or beyond. Metaverse connotes a place that exists in the virtual realm but feels just as real as the physical one, a place that exists beyond the limits of the world or the universe as we know it. And Facebook, while not the first to stumble upon this digital frontier, is seeking to conquer it.
The metaverse has unlimited potential. From gaming, virtual reality (VR), augmented reality (AR), to social channels like Facebook itself, the metaverse aims to connect individuals in real-time from anywhere in the world.
Imagine trying on a dress before buying on Amazon or test driving a car without leaving your living room. The metaverse is the opportunity for consumers and marketers to meet outside the traditional realms of physicality and provide unique experiences unlike anything we’ve yet seen.
What Marketers Need to Know About the Metaverse
The metaverse isn’t just a digital space, it’s an entire world where people can connect, communicate and collaborate. Many believe it’ll house a new economy as digitized currency gains popularity. That said, what do marketers need to know to gain an advantage in this evolving market?
Immersion is Essential. When it comes to building your business’s online presence, it’s more than a Facebook Business Page or Twitter account. A full-fledged digital experience entices visitors to visit, stay and play. Whether you’re offering a gaming experience, premium poker buy-ins with top players from around the world, or a concert experience promising an experience as good as the real thing, creating a full-sensory experience is the most important factor.
Consistency is Key. Your brand message, tone, style, and visual assets all need to align to create an integrated physical and digital experience. Imagine walking into the lobby of a casino where you’re a loyal rewards member, being greeted by the manager and whisked away to your own private gaming experience curated just for you…without leaving your house. And yet, it feels just like it would if you really were to walk into the lobby. The smallest details of that digital experience play an important role in both on and offline brand loyalty and sentiment.
You Must Think Outside the Box. The digital space is fast evolving and has moved beyond the pop-up ads we’ve grown to know and loathe. While digital paid advertising isn’t going anywhere, it is shifting beyond traditionally served ads across social platforms and with influencers to more dynamic, engaging experiences inside the growing metaverse. That means meeting your clients and customers where they (digitally) congregate, inserting yourself in their narratives, and giving them hands-on experience with your product or services.
Even though we have some time before the metaverse becomes mainstream, we are at the brink of a new digital era that we can watch unfold in real-time. As Meta positions itself as a leader in immersive technology and at the forefront of a new economy, it will play a major role in how we speak with our customers and engage in brand relationships across traditional channels such as Facebook, Instagram, and WhatsApp. With new generations increasingly accustomed to virtual worlds and experiences, we strive to stay agile to stay ahead.