Dubai: How long will it take for brands from the United Arab Emirates to move to the âmetaâ?
Mark Zuckerberg’s version of an alternate / virtual universe aims to reconnect Millennials and Gen Z with a Facebook-related platform other than Instagram. This virtual world – populated with avatars of what exists in the real world – is still under construction, but brands are already watching closely. And if they see that their consumers are already there, it’s only a matter of time for brands to take their place.
Rid the “metaverse” of all the hype that Zuckerberg usually adds to any initiative on his part, it’s still a pretty cool concept. Provided that consumers and marketers are prepared to spend a lot of time in this parallel world and get their things done. (Think of “The Matrix” and its take on a universe populated with versions of the individual, and you get a glimpse of what the Meta could offer.)
âToday, the metaverse involves a shared virtual space where users are represented by virtual avatars,â said Amit Raj, co-founder and COO at Binary, an out of home (OOH) digital agency. âIt’s not just a simple virtual theme park where the design is centrally planned. Neither is it a simple game intended exclusively for the enjoyment of children. Nor is it a simple app that you can download from the App Store and âplayâ at your convenience. The metaverse are virtual universes that merge reality and the virtual world “.
Mark Z’s Meta is going to turn the world of the Metaverse upside down. It will be on another level with Facebook, Instagram and the seamless integration of the real world into the parallel universe.
âMetaverse exists in real time. Players can do separate activities at the same time. It also allows different platforms to work together. You can offer virtual advertising in the metaverse. For example, Bidstack, a video game advertising technology company, has moved from actual outdoor advertising to showing ads on virtual billboards.
Can be expensive
Advertising and marketing exposures in the meta world could be expensive, and that would be something advertisers are likely to discover this year. âIt will end up getting expensive as more and more people come in because it’s like real estate,â Raj said. âComparatively, it will order more just because it will deliver an immersive brand experience and, therefore, more value to advertisers. “
So, is Zuckerberg on another winner? Whatever young people may say about being seen on Facebook, the platform still has the moolahs of anyone who wants to be on it. Despite the occasional crashing of data privacy, Facebook has advertisers lined up.
Instagram retains its influence with all the right demographics, so far easily resisting stiff competition from rivals like Snap and TikTok. Will Metaverse deliver another hit to the founder of Facebook?
Overall ad spending in the UAE was estimated at around $ 765 million last year, based on feedback from the advertising industry. Overall spending for the MENA region was around $ 5.1 billion. On digital and social media spending, the share of Facebook and Instagram would be around 30%, YouTube 25%, TikTok 15% and Snapchat 20%.
Add Metaverse to the mix and offline advertising could cause another round of disruption. âConventional offline and online advertising methods will be a thing of the past,â Raj said. For example, Fortnite, a player-versus-player game played by hundreds of millions of people in the Gen Z group, collaborated with Nike to promote their new Jordan sneakers and teamed up with rapper Travis Scott for a virtual concert in front of a audience of over 10 million The metaverse is full of innovative marketing potential.
The Overall UAE Advertising Market Size in 2021, Based on Industry Estimates
Content and context
Kantar, the global marketing and research consultancy, in its 2022 forecast, believes that “metaversees gain importance” will be a dominant theme.
Keerat Dhillon, associate director of Kantar’s Insights division, said: âThe media landscape has always been dynamic, with the pandemic further fueling all change. Advertisers still have to think very strategically about how to navigate and operate in this changing landscape.
Content and context are now king, so the key is to minimize intrusion while maximizing relevance to consumers. Customizing your designs to suit each context and amplifying campaign coverage are key to driving maximum impact in the Middle East.
– Keerat Dhillon
If Zuckerberg is successful, his take on the metaverse will provide content and context. The brands certainly hope he gets it right.