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To get the most out of the metaverse and avoid disappointing consequences, brands must adopt three key principles, according to a new report released today. Avoiding the Regretaverse: How Not to Mess Up In the Metaverse is a grim dating how-to guide to making the most of the biggest change in the media landscape in decades. Authored by Phil Rowley, Head of Futures at Omnicom Media Group UK, the report aims to help brands get ‘better’ in the metaverse. he said: “There has been much debate about the fact that the metaverse is over. But let me be clear: the metaverse is not over yet. “The metaverse is, and will continue to be, an unimaginably vast opportunity. Overreacting, and wasting precious marketing budgets, will be banished to a dark parallel world of what we call the “Regretverse,” a zone built on it. “Why? Futures has identified three principles that show brands how to make the most of the biggest change in the media landscape in decades: clarity, insight and durability. The three principles are: • Be clear: Brands need to properly define the metaverse.
Brands must embrace the broadest definition of the metaverse in order to capitalize on the vast opportunities it holds. Gaming should be seen as an affordable entry point into the metaverse due to the presence and scale of mass media across mobile, tablet, PC and consoles. Brands should not be tempted to ditch their existing advertising, but rather expand it. The metaverse is an evolution of media, not a media revolution, so brands should look at how they can adapt their existing media and advertising. • Be discerning: Brands often get things wrong. But you can put it right.
Brands will need to adopt different strategies to master the metaverse and understand the tradeoffs between media sophistication and reach. It’s important to be brutally honest about why you want to participate and what you hope to get. Brands new to the metaverse should plan to start in beginner mode and work their way up to more complex directions.
• Build durability: Brands need to tackle this for the long haul.
To get the most out of the metaverse, brands need to actively participate in the long game. Taking a macro approach, brands need to work on long-term strategies for surfing the metaverse lifecycle. Only by testing, learning and improving can a brand be fully mastered. And one size does not fit all. Brands need expertise across his four planes of existence – physical, physical, digital and virtual – and must adopt a multidisciplinary approach to prepare for future evolution.
Lowry added, “The term regretaverse is not meant to deter brands from engaging. It’s a warning that if the work is worth it, it’s worth doing well. The metaverse as a phenomenon.” is not going away, and brands shouldn’t ignore the metaverse any more than they did the invention of television.
“By creating adaptive, multi-faceted and enduring plans, we can help brands master the metaverse and make the most of this incredible opportunity.”
The full version of Avoiding the Regretaverse: How Not to Mess Up In the Metaverse is available for free download. Please contact Omnicom Media Group.
This was posted by Business News on Bdaily’s Members News section.
