Financial Marketing in the Metaverse
The metaverse is here to change things up for financial content marketers in the future. While social media and the internet have solely been a two-dimensional space, the metaverse is here to transform it into the three-dimensional by integrating emerging technologies like holograms, virtual reality (VR), and augmented reality (AR). The metaverse will change the way content marketing operates, making it important your finance brand adapts seamlessly to avoid losing out to the competition that does. But what is the metaverse and how will your finance brands’ content marketing need to adapt to stay ahead?
What is the metaverse?
Facebook’s recent rebrand as ‘Meta’ may have made you think the metaverse is focused solely on Mark Zuckerberg’s social media empire, but it extends far beyond this.
The metaverse is heralding in a new way of interacting with the internet. While currently we utilise the internet and social media through a mobile device or computer, the metaverse will create a virtual reality in which users can have a digital life. Through emerging technologies like holograms, VR, and AR, people can build a second life digitally and subsequently a digital economy can be created. The idea that users can create, buy and sell goods in cyberspace means your future content marketing strategies are going to have to adapt.
While this may seem like future technology like you’d see in the Matrix, it may occur sooner than you might think. In fact, 74% of adults will join or consider joining the metaverse in the future. Additionally, at the 2022 Superbowl, an ad for the metaverse played in which an animatronic dog was sold and then reunited with his friends virtually in the metaverse. Conversely, another ad by Salesforce went against the metaverse, suggesting people were better off interacting with the real world with the #TeamEarth as their call to action. While it’s difficult to say whether the metaverse will become our new normal, these ads do signal the idea that virtual reality will be created sooner rather than later and your content marketing strategy will need to keep up.
So how can you adapt your content marketing strategy to align with the advent of the metaverse?
Adapting your content strategy to the metaverse
It’s clear to see the introduction of the metaverse will shake up the future of financial content marketing. Here are three ways your brand can stay ahead of the competition:
1. Begin integrating emerging technologies
The metaverse will rely heavily on AR and VR technology and the ability for your finance brand to be accessed virtually. To find inspiration about how your finance brand can incorporate this technology take a look at Westpac New Zealand.
“… a growing number of people believe [AR] has the potential to change our lives as much as the internet and mobile phones,” said Simon Pomeroy, Chief Digital Officer with Westpac.
Westpac New Zealand has integrated AR technology into its user’s mobiles by enabling them to access their key account information and spending data via 3D bar graphs they can access through their camera. While this technology is slightly less advanced than what may be required in the metaverse, it indicates your finance brand can begin integrating new technologies and infrastructure now which will put you in a better position for when it’s time to fully submerge into the metaverse.
“Not so long ago augmented reality was considered a futuristic prop in the movies, but a growing number of people believe it has the potential to change our lives as much as the internet and mobile phone,” said Simon Pomeroy, Chief Digital Officer with Westpac.
2. Immersing your brand in the metaverse
The first step to adapting your content marketing strategy is understanding exactly what you can do within the metaverse. Creating virtual stores or gaming experiences are some ways you can do so. Many large brands are already setting up shop, with international brands like Nike filing for patents and creating partnerships with businesses like RTFKT who design virtual sneakers and accessories for the metaverse. Think outside of the box and consider how you can benefit customers within cyberspace through virtual experiences.
Solving customer queries, creating educational gaming experiences, or building an AR storefront are just some ways your finance brand can integrate itself within this new digital reality.
3. Tailor your content appropriately
Just like with any content marketing strategy it’s important you understand who is using the metaverse, how much they’re utilising it, and what they’re using it for. As it’s quite an advanced and new technology, it’s safe to say the majority of users will be young – Gen Z or Millennials.
Benefits of the metaverse for finance brands
The metaverse can have large-scale, positive impacts on finance brands around the world. Owing to its virtual nature, your brand can gain greater exposure without the usual geographical constraints. The virtual marketplace space can also ensure your finance brand has another method of acquiring clients, outside of traditional means like in-person sales or websites.
At the heart of it, the metaverse is creating new and unique opportunities for finance brands to increase their customer acquisition and global brand awareness. But to do this, will require your finance brand to evolve technologically, build consumer-centric hardware systems and platforms, and think outside the box.
It’s time to think about moving your brand into cyberspace.