predictions: How marketers will approach gaming, web3, and virtual experiences in the year 2023

Marketers have unleashed their creativity to think about how they will engage customers in the virtual, digital future. This was evident from the metaverse discussion that took place over the past year. Many of these ideas may be feasible in the coming year, depending on how mature platforms are and the lengths marketers will go to reach customers wherever they are.

It’s not just talk. Big brands such as Samsung and Under Armour have launched multi-pronged, ongoing engagements with virtual worlds and virtual goods. Metaverse-related activations make up about half of marketers’ current plans or are being considered.

These are some of the plans that will be implemented in the coming year.

Return to Marketing Basics

Customers can reach new levels of immersion with virtual worlds and augmented realities. Marketers will be focusing on AR and VR experiences and will avoid NFT activations tied to cryptocurrency value, as a result of recent crypto-crashes.

Andrew Frank, Gartner’s VP distinguished analyst, stated that “I believe there’s definitely an awareness of a reality-check on the crypto side” of the metaverse. “I believe we will see marketing organizations become more practical and realistic about these technologies’ value. They will be looking at ways they can use these technologies in order to increase loyalty and offer more secure rewards.

Marketers will continue to use long-standing loyalty programs and data strategies that can benefit from the new technology. This is known as “returning to marketing basics”. NFTs and digital tokens, for example, can offer discounts like coupons, but they don’t have to be confused with cryptocurrency investments.

Frank stated, “You can have [brand] awareness without getting involved with this whole value crypto as an investment vehicle.”

Frank said that NFTs can also be used to selectively reveal your intentions and interest to marketers. Instead of asking permission, you can use the [blockchain-based] loyalty cards to express your interest in products or general preferences.”

NFTs in loyalty programmes

“The recent FTX crash has sparked a lot uncertainty and fear in the crypto/NFT markets, but despite that, we still see a lot interest from brands to launch Web3 activations,” Laura Connell, consumer trends manager at GWI, said. “Because the metaverse is focused on community, brands will discover new and different ways for consumers and others to interact digitally with them.”

Web3 users can purchase an NFT which unlocks certain privileges similar to traditional rewards programs. The NFT supports a decentralized blockchain ledger that ensures data about customer engagements is not kept private by companies or third parties. It is on the blockchain and not in a company database.

Connell stated that brands can expect to engage more with NFTs as they incorporate digital activations into their loyalty and reward programs. “Rewarding engaged community members, as we have seen with Nike, Swoosh, and Starbucks, is the new era in brand marketing and customer retention,” Connell said.

She said, “With web3, we see NFTs in a brand loyalty program which could identify and curate an even closer group of customers than ever before.”

Social cues and interactions: Discovering the clues

Consumers and marketers are both new to virtual worlds and tokens. As the space matures and brands become bolder, they will learn more about how users interact with this environment.

“We are starting to see’metaversebudgets’, RFPs, and internal’metaverse team’ as companies formally commit the metaverse beyond merely ‘testing the waters.,” said Alex Howland (President and cofounder) of virtual world platform Virbela. “These innovators will learn more about the social cues which allow for complex interactions, and how they can scale far beyond what video conferencing allows.”

Sheldon Brown, cofounder of Virbella and VP of product development and innovation, stated that a robust ecosystem of diverse social environments would be an exciting exploration opportunity for companies in the metaverse of 2023. “These environments mirror how we move in real-world environments, emphasizing different aspects of ourselves in various contexts.”

Gaming influencers are on the rise

Marketers in gaming know that the gaming industry has its rising stars. In the coming year, look out for more brands that will tap into these vibrant communities.

Alexander Frolov (cofounder and CEO of Influencer Marketing Platform HypeAuditor) stated that “[this] will be a year when marketers embrace partnerships with gamers influencers even if there are no obvious ties to the gaming industry.” While Twitch is the main platform for gamers, there are many other platforms such as Instagram or YouTube that they follow. Red Bull, Samsung, Hershey, and Red Bull are just a few of the brands that have already partnered with Ninja, the most popular gaming streamer on Twitch. We anticipate a lot of other non-gaming brands to follow in their footsteps.”

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