The Metaverse: The Future of Marketing
Monday, June 27, 2022
Now is the perfect time to prioritize learning and be ready to excel in the many challenges the metaverse has for marketing professionals.
Understanding the evolution of marketing in the digital world is key to face the new era that the metaverse proposes.
The pandemic forced companies to quickly turn to technology, using the metaverse to bring their brands to life while revealing a new range of marketing strategies, to reach audiences across the globe, in innovative and compelling ways.
With the metaverse, new trends, new technologies and changing patterns are transforming the industry daily, and so new opportunities are emerging.
Marketing teams will have to incorporate new functionalities and learn to connect with the needs generated by the metaverse, so they can adapt to this rapidly changing ecosystem if they don’t want to miss the wagon.
It’s up to the marketing specialists to build capacities and update themselves to stay ahead of the curve, and a Master’s degree in Marketing provides the right path to get there.
For more details please read this article: Digital Age: Importance of Studying a Master in Digital Marketing
Faced with this huge demand, universities are designing options to continue educating generations of new marketing masters.
To understand the evolution, it is essential to highlight the accelerated paced marketing has experienced to attract consumers to its products or services, with a quality message that will strengthen market leadership and increase sales efforts for large-scale marketing.
In addition to product development, sales, and distribution, marketing professionals also analyze the entire buyer journey so that products or services actually cover consumer needs.
Additionally, market research studies have changed over time, moving from consumer statistics and projections to social media user impressions.
In marketing technology, research, analysis, and creativity directly affect businesses and, as a result, the regional and national economies.
The Evolution of Marketing
Since the 1970s, drastic marketing developments turned consumers into the main attraction for corporations. According to expert Philip Kotler, marketing with new technologies is directed to a more personal marketing.
Marketing 1.0 is focused on the product and mass manufacturing. In this scenario the consumer does not receive much attention, because marketing campaigns are directed towards the product.
On the other hand, marketing 2.0 focuses on a demanding consumer that conducts intelligent purchases. Now companies must generate added value that provides benefits to customers and allows them to feel emotions.
Kotler claims that new technology, globalization, and the demand for customers to express their creativity and values open the gate for marketing 3.0, which requires agencies to develop innovative methods that have more of a beneficial effect.
The digital age paves the way to the 4.0 era offering a unique opportunity to connect directly with consumers through mobile devices.
According to a report by Digital 2022, 58.4% of people between the ages of 16 and 64 now make a weekly online purchase because of ecommerce.
Future of Marketing
Thanks to social media, every platform and brand has an opportunity to take their share of what is estimated to be a $1 trillion market by 2024.
More recently, marketing 5.0 rises with the arrival of the metaverse.
Talk of the metaverse has been ubiquitous in recent months. Internet searches for the term increased by 7,200 percent last year.
In December, Facebook - now Meta - announced that it would "help bring the metaverse to life," according to CEO Mark Zuckerberg, which made the term skyrocket to one of the 100 top searches on Google Trends shortly after and 2 million posts on Instagram.
Microsoft quickly followed by acquiring the giant Activision, providing the "building blocks for the metaverse."
Current trends in electronic commerce include live purchases, often known as live commerce or live streaming commerce. As a result, network and social media platforms have reacted and introduced new features for integrated purchasing in the metaverse with content promoting immersive experiences like virtual hangouts.
What is the Metaverse?
Although there is no unified definition, most descriptions, including that of investor Matthew Ball, include the following common elements:
- The metaverse is real and "always on"
- It spans both the physical and virtual worlds as well as multiple platforms.
- It promotes a virtual economy based on cryptocurrencies, goods and digital assets.
- People can have virtual presence or identity and create user-generated content and "world building".
- It is considered an evolution of the Internet as we know it, mainly because it can create digital worlds parallel to the physical one.
- For marketers, the metaverse is a way to engage consumers with new experiences, while pushing the brand in new directions.
Study Marketing online to stay ahead
The metaverse is set to change the industry and how companies connect with consumers. It’s impact will be so profound that learning how to navigate this new environment will be the priority for marketing strategists everywhere.
Want to kickstart your career through an innovative online master’s degree in Marketing? Here are the most exciting online options in the states:
- Master of Business Administration in Marketing by Saint Leo University
- The Master of Business Administration in Social Media Marketing by Saint Leo University.
- The Master of Science in Marketing in Marketing by Walden University
- The Master of Business Administration in Marketing by Lynn University
- The Master of Business Administration with an Emphasis in Marketing Online in Marketing is offered by Southeastern Oklahoma State University
For more information about these online master’s degree programs, please complete our registration form on the right side of the page. An academic advisor will contact you to provide more details about your future career.
Also, you are free to continue navigating through our website, startuniversity.us, to learn more about other types of traditional and online degrees available for you.