B2B in the Metaverse
Jonathan Izzard, strategy director at Wonder takes a look at what the Metaverse means for B2B brands and experiences
There’s nothing like a new technology platform for creating buzz - and ultimately FOMO - for businesses. And, in spite of its nascent and somewhat nebulous form, the metaverse falls very much into this category for marketers everywhere.
Whilst there’s an argument for jumping into new mediums like this feet-first, the honest reality is that many businesses simply won’t know how to paddle, let alone swim, in these relatively uncharted virtual world waters.
Metaverse or otherwise, for Wonder, determining the relevance and value of any channel always comes down to a simple set of factors:
Your Brand: is there an authentic reason for you to be there?
Your Objectives: what are you actually trying to communicate and achieve?
Your Audience: what’s their relationship with the platform/medium/channel?
And it’s the Audience that really underpins everything here. Authenticity counts, so does it feel right to them that your brand is present in this new environment? Are they really ready for this paradigm shift? Do they have the means to engage with a virtual world…and if so, what’s governing the experience they have there?
Internal audiences, too, need to be comfortable with the associated risk-reward-ROI trilemma: this is still a new frontier - and, in some respects, a Wild West - whose democratic, decentralised DNA means embracing creativity over control, and having a purpose, not just a presence, there.
Understanding this gives brands the licence and agency to get involved - whether through incubator experimentation (reminding their audiences just how forward-thinking they are); or a full-on partnership/activation with one of the new world insiders (like Decentraland, Sandbox, Roblox, Fortnite or Meta) to build without boundaries.
Gartner’s Hype Cycle or Goldblum’s ‘Could vs Should’ - for brands, readiness is relative and the metaverse’s ‘potential’ not a one-size-fits-all measure. That said, if you’re comfortable with the why (you’re doing it), what (you want to say) and who (you want to say it to) then there’s a world of boundless innovation, inspiration and inclusivity to experiment with and explore.
For more information
Check out Wonder’s work HERE
For enquiries please contact Max Gethin, client development lead at [email protected]