Virtual Reality and the Impact on Digital Marketing
My Experience with Virtual Reality
I own an Oculus Quest 2 and have mostly used it for the game BeatSaber where you use lightsabers to break blocks in tune to music, one of the first and most popular VR games out there. The free rooms / houses that come with SteamVR or Quest are excellent, you can decorate them with free items you earn over time and in games but I would never actually pay for a nicer in-game house (I'd rather spend the time to make one). I have also briefly played VRchat which is like a Roblox Metaverse where you can explore areas, go for walks and go on Ferris wheels while talking with friends and strangers nearby. The Museum of Other Realities is a VR art exhibit (with some paid tour features that I think are well marketed but I didn't pay for) which has some really cool ways to view art. There are tables with 3D art you can view from above in a human-size to diorama view or you can go inside the diorama and view it as if it was real. These free experiences are fantastic and are supported by a premium paid extension for those who are interested. Lastly, I have played virtual escape rooms which are almost more fun than real-life ones because you can actually see everything and know if it is actually useful compared to real life where you have to guess what objects have meaning and which are just décor.
What will Digital Marketing have to do with Virtual Reality?
Digital marketers will need to use event based strategies in events compared to recurring ads placed around the virtual world. If you purchase a Metaverse house you are unlikely to allow companies to place traditional ads in your home. That being said, digital products and clothes can certainly be bought and stored in these virtual properties. Marketers will likely need to use different tiers of digital merchandise, having a free wearable is a great way to have more visibility before charging a premium for more unique skins or NFTs. People who are content with the free items are included in your branding and for those who value the premium NFT items they are more than welcome to purchase them.
When it comes to Corporate Social Responsibility Virtual Reality is in a tough spot. Increased digital usage immediately has a negative environmental impact and may have a significant impact on the mental health and sociability of current and future generations according to a CNBC article. The hoarding of digital objects in your own private estate does not foster a community virtually or in real life and that will be critical for brands. Creating virtual neighbourhoods where each user is active and walking around to be positively interacted with would be quite challenging. The communities in Discord are likely the closest comparison and community is based on individual participation which can be removed at any time compared to in-person events where if you decide to leave people will notice and encourage you to stay (hopefully in a healthy way). The biggest challenge in my opinion would be profitability, what actual value do you bring to your customers in a CSR way? Avatars and skins are extremely shallow and making people pay for them is almost predatory and in some cases may be seen as gambling like current loot boxes are. The only way to be responsible in the metaverse would be to increase your brand image and awareness through free community building events.
An Example of Virtual Reality and Digital Marketing
I get home from work and eat dinner before putting on my Quest X headset and motion tracking suit to enter my virtual abode. I pick out an outfit from various brands depending on which virtual activities I wish to participate in for the evening. I pick out a Nike sports outfit and log in to VR Dodgeball with my friends where I use the Red Bull winged dodgeball to beat my friends Fireball skin. Later there's a virtual concert and I switch into my Eminem merch with the intent of maybe buying more at the virtual merch stand if I don't win any of the freebie skins that they shoot across the stadium. While I'm there I grab some of the free food items from A&W to fake-eat, I wouldn't pay for fake food but I may as well eat it while I'm watching a show and maybe I'll stop at A&W on my way home from work tomorrow. After the concert I ordered the 2nd tier Uber ride home that takes me on a longer scenic route through outer space, the free down-town city tier just isn't the same after the 10th time.
Sources:
Jr, T. H. (n.d.). ‘This is creating more loneliness’: The metaverse could be a serious problem for kids, experts say. CNBC. Retrieved 20 November 2022, from https://www.cnbc.com/2022/01/31/psychologists-metaverse-could-be-a-problem-for-kids-mental-health.html
