Rethinking Retail Brand Storytelling in the Age of the Metaverse

Anyone paying attention to tech advancements of recent years has likely heard of the metaverse. This is a virtual reality environment where people around the globe can experience life and interact with others in ways that they can’t in the physical world.

Many experts see the metaverse as the next iteration of the internet, so it is only logical that marketers and designers should start to think about how they can use this space to integrate the storytelling of their brand and catch the attention of new and existing customers. 

Brand Storytelling And The Metaverse

First, it is important to share a few definitions so you can get a better understanding of these newer concepts. If you are starting a new company or you are new to marketing, then you first need to understand the meaning and benefits of brand storytelling. Essentially, brand storytelling is the way that marketers paint a picture and engage with an audience to shape a brand’s identity that goes beyond traditional marketing approaches.

Successful brand storytelling examples of the past include Nike’s campaign, where they used basketball player Michael Jordan to explain how their company expanded and became the juggernaut they are today. Also, Airbnb uses its marketing to tell the stories of travelers that stay in their properties. The point is that you are advertising your company without force-feeding specific products to your customers.

This is a type of marketing that needs to hit just right. If you are developing a campaign, then there are some effective brand storytelling methods that you can follow. For instance, you should create truly authentic ads that go beyond what your company sells and show the real people that make up your business. Your story can also have a sense of empathy, where you show that you feel your customer’s pain and provide a solution. Ultimately, your story will depend on your specific company.

Brand storytelling is the way that marketers paint a picture and engage with an audience to shape a brand’s identity that goes beyond traditional marketing approaches.

Strategies To Try

Now that you know what brand storytelling is, how can this fit into the metaverse? You must start rethinking your retail brand storytelling now because this environment will only become more popular as time goes on. In 2021 alone, Meta, formally known as Facebook, invested $10 billion into the metaverse, so you know it is here to stay. Now, Instead of sitting on the couch watching TV or reading a magazine, the metaverse allows guests to walk around and experience things in a new way. 

One aspect that is really molding the metaverse is 3D world-building, which allows visitors from all walks of life — from gamers to casual shoppers — to experience a more immersive virtual experience that they can’t get in the real world. As the metaverse continues to expand, more eyes will be on your brand. Experts believe that this tech will allow for new marketing opportunities. 

There are many ways that you can share your brand story through the use of virtual reality. For instance, if you had a shoe business, you could encourage visitors to walk in the shoes of the company’s founder to see how the brand has grown. Or, if you have a fashion brand, then you could create an immersive space like a virtual shopping mall where customers can get a 360-degree view of your best-selling outfits through the years.

You can also try to create an interactive experience with your customers. You can create a place where customers can witness your brand story while touching and experiencing different aspects of it so they are more inclined to buy. Keep in mind that many of the rules in the virtual world are still being defined, but this is a good time to start thinking about what you could do next.

Precautions About Branding In The Metaverse

While there seem to be endless opportunities for rethinking your brand storytelling in the metaverse, keep in mind that you shouldn’t go all-in right away. The metaverse is still being developed, so there are still some risks to consider. 

For instance, not all customers will want to spend time in the metaverse. If you advertise to an older demographic, then you may be wasting your money paying for a medium that they may not want to see. Also, some customers won’t want to pay the $300+ it costs to get the VR headset necessary to explore this world, so think about your core audience for that aspect as well.

The metaverse is still being developed, so there are still some risks to consider. 

With all that said, while there are some concerns, overall, the future of the metaverse looks bright. Start rethinking your brand storytelling approach now, and you could reach a new audience in a brand new way.