Marketing Technology Trends 2023: A Glimpse Into The Future

Author: Arun Pillai

It’s 2023. The marketing industry continues to evolve, and technology is at the forefront of this evolution. With every technological upgrade, marketers rush to hop on the latest marketing technology trends to capitalize on them and gain a competitive advantage.

From email marketing technology to Web3, B2B and B2C marketers are leaving no stone unturned when it comes to using technology to boost their marketing efforts. While there are several predictions for where marketing technology is headed in 2023, one prediction stands out- mixed reality and the Metaverse.

Many marketers are not yet sure about how to leverage the Metaverse. But you might already be behind if you’re not considering this latest technology for your marketing strategies in 2023.

But how is the Metaverse shaping the future of marketing technology? We’ll find out in this blog.

What is the Metaverse?

The word gained popularity after Meta entered the Metaverse market with a multi-billion dollar investment. In simple words, the Metaverse is a digital environment with virtual avatars representing real people.

It is an immersive and fully functioning digital universe that exists in real time. The Metaverse uses AR and VR to create a network of 3D worlds where you can lead a parallel digital life. It is a completely virtual environment with virtual stores and events, but it can sometimes overlap with the real world.

For example, you might go to a store and put on smart glasses to see the effects of augmented reality in the store’s physical location. You might even communicate with a virtual salesperson.

While talking about the Metaverse, Mark Zuckerberg, CEO of Meta, said, “you’re going to be able to do almost anything you can imagine with it.”

As the Metaverse is digital, it is always active. Other features of this technology include the following-

1. self-contained and fully-functional
2. user-generated content
3. virtual identities for individuals and agencies
4. open and shared digital universe through decentralization
5. a fully operational economy that runs on NFTs, digital currency, or cryptocurrency

Why is the Metaverse Leading Marketing Technology in 2023?

Metaverse in marketing is fairly new, with only a handful of brands hopping on the trend. This makes now the perfect time to get started before it booms. Why? Because early adopters that realize the potential of this marketing technology will benefit the most.

Marketers are swiftly flocking to the Metaverse in 2023 to engage millennials and Gen Z and leverage new, innovative ways to target their audience.

Big Metaverses like Roblox and Fortnight offer unattainable brand opportunities in the real world. Take Vans for example. The skateboarding brand rolled out a virtual skatepark on Roblox. It allows players to learn new tricks and earn points that they can redeem in a virtual store to customize their avatar.

The executive team of Vans believes that the Metaverse is the perfect place to increase brand awareness and reach their target audience aged between 13 and 35. The brand’s virtual skatepark has seen over 48 million visitors.

In March 2021, luxury fashion brand Gucci also launched a digital pair of sneakers that users can wear in augmented reality. Called the Gucci Virtual 25, the sneakers are priced at $12.99. Users can also use these sneakers on partnered apps like VR Chat and Roblox. But Gucci didn’t stop there.

The brand launched the Gucci Garden on Roblox in May 2021 as a virtual experience to complement its Gucci Garden Archetypes installation in Florence, Italy. The brand also collaborated with Roblox creator Rook Vanguard to create digital pieces. Gucci Garden allows users to mingle with others in the space and buy these pieces.

Vans and Gucci are excellent examples of how marketers can leverage the Metaverse in 2023 and exercise more creativity in the virtual space. It helps you reach a wider audience, boost brand awareness, and ensures terrific audience engagement.

Additional Read: 7 B2B Marketing Trends in 2022- Winning Formulas to Adopt for Growth

How Can Marketers Get Started with the Metaverse?

If you’ve moved beyond the question ‘what new technologies are used in marketing‘ and are ready to actually put them to use, you’ll need to channel creative thinking. As the Metaverse is fairly new in marketing technology, you can easily run campaigns without dedicating a massive budget.

But remember, regular advertisements won’t work here. You need to be creative and focus on driving engagement. As a B2B marketer, you can use the Metaverse in the following ways-

1. Content Marketing

Creating relevant content and building thought leadership are at the heart of a B2B marketing strategy. But in the Metaverse, the flow of content consumption is flipped. For example, in the real world, B2B marketers write a whitepaper and share it with prospects through different channels. But in the Metaverse, you must first identify these consumption channels, segment them by user type, and then create content.

This means that instead of creating one piece of content for all users to consume, you’ll have to create multiple pieces for different experiences, making the editorial process bi-directional.

2. Trade Shows and Events

You can use the Metaverse to create a shared experience for business leaders by hosting industry events. It offers an immersive experience that goes beyond just a video-based event. You can start by experimenting with an existing event or extending a physical event into the Metaverse.

This will help you understand the demand for your offering, identify key elements that influence a participant’s experience, and evaluate community implications.

3. Training

You can use the Metaverse to train your team and other stakeholders like partners, customers, shareholders, etc. Industry bigshots like Accenture have used the Metaverse experience to onboard tens of thousands of new employees.

It offers an immersive experience that can drive employee satisfaction and retention.

To Wrap Up:

It’s 2023, and marketing technology’s importance continues to grow in both B2B and B2C spaces. But as this technology is continuously evolving, you need to keep up with it to stay relevant.

The Metaverse has a huge potential for the marketing industry, but it is still in the nascent stage. So hop on the bandwagon before it’s too late and create hybrid experiences to enjoy the best of both worlds.

References:

1. https://www.influicity.com/the-future-of-the-metaverse-in-marketing/
2. https://browsermedia.agency/blog/metaverse-future-digital-marketing/
3. https://www.linkedin.com/pulse/3-use-cases-metaverse-b2b-marketing-today-adam-gelles
4. https://blogs.oracle.com/marketingcloud/post/metaverse-marketing