Buder, F., Hesel, N. & Dietrich, H. (2023, July). Marketing in the metaverse – opportunities and barriers for the creation of marketing value. In Proceedings 11th International Conference on Contemporary Marketing Issues (ICCMI) (pp. 362-363).
The metaverse holds great promise as the next iteration of the internet. However, instead of websites, future metaverses are intended to be more immersive, virtual worlds or augmentations of the real world, where users can interact with each other and with AI agents, consume virtual and hybrid products, and engage in a wide range of activities. The metaverse is also often expected to enable entirely new applications and business models. However, the vision of the metaverse is still highly speculative, and there is a lack of clarity regarding what the metaverse will be and how it will function, both in academia and among practitioners.
To understand how consumer brands are currently using the metaverse for marketing and what their future plans are, we conducted in-depth interviews with high-ranking marketing managers from top consumer brands.
Our study aims to identify the patterns of metaverse usage among consumer brands and the barriers and opportunities they face in using the metaverse for marketing. The preliminary findings show that while some brands are tentatively exploring the metaverse's marketing potential, others are generating value from their metaverse activities by establishing new channels of communication with their customers and even expanding into lifestyle brands.
Learn more on method and results in the full abstract:
Proceedings 11th International Conference on Contemporary Marketing Issues (ICCMI)