Corporate Events in the Metaverse: The New Frontier of Business Interaction

1- What is it?

The Metaverse is a concept referring to a virtual, shared, and always-active universe where users can interact in a fully immersive 3D environment.

Some see the Metaverse as the natural evolution of the Internet as we know it, but more specifically, it is an extension of existing virtual worlds. The field where it is expected to have the greatest impact is marketing and advertising, as it can radically transform the relationship between brands and customers.

2- How does it benefit corporate event companies?

The Metaverse is not necessarily a direct competitor for marketing companies that organize corporate events, but rather a new tool and opportunity to expand their services.

• Service expansion: They can offer metaverse events as an added option, creating innovative and unique experiences.

• Tech collaboration: Working with developers to build immersive experiences adds value.

• Adapting to change: Combining physical and virtual events maximizes reach and engagement.

• Education & training: Opportunity to train teams in new tech and trends.

• Analytics & measurement: The Metaverse provides detailed data to assess event success and improve strategies.

Marketing & advertising challenges in the metaverse

It is evident, then, that the Metaverse represents a great opportunity for marketing, as it establishes a new channel of connection between customers and brands. However, it also presents a series of unique challenges that must be identified and addressed in order to fully harness its potential.

One of the biggest challenges of marketing in the Metaverse is the lack of regulation. As the Metaverse continues to develop, it is likely that new rules and legislation will emerge to manage its use. Currently, regulations are scarce, which means that the responsibility for using the Metaverse appropriately for commercial purposes falls on the companies themselves.

Brands and companies in the Metaverse: examples
One of the pioneering brands in the use of the Metaverse for advertising is IKEA. The Swedish furniture company has developed a virtual reality application called IKEA VR Experience, which allows customers to explore a variety of virtual home environments and experiment with different furniture and decorations. Customers can move freely through these environments and also use a controller to interact with furniture and accessories. In addition to offering an innovative experience, this application allows them to get a clearer idea of how the furniture would look in their own home.

Another brand that has embraced the Metaverse in marketing is Coca-Cola. The company has created a virtual reality experience called The Coca-Cola Zero Sugar VR Game, in which users 

can immerse themselves in a virtual world where they must overcome adventures and challenges, interact with characters and environments, and have the chance to earn virtual rewards through various games. This experience allows Coca-Cola to connect with its customers in a fun and exciting way, while also promoting its products in a subtle manner.

Is the metaverse for every brand?

As a brand, we must understand that what matters most is being where our customers are, offering them what they need in the way they expect. Therefore, entering these worlds makes sense if we are able to enhance the experience we currently provide them—and if we’re not ready yet, we should focus on preparing ourselves.

There is a clear reality: maybe our customers are not there today, but younger generations were born into these worlds. They live in these realities naturally—they consume content, socialize, shop, etc. In fact, it’s conceivable that in the future, the product we sell physically today may be replaced by the one we sell in the metaverse.

Why is the Metaverse unstoppable for brands?

The Metaverse brings us the opportunity to recover non-intrusive advertising and, in addition to offering the ability to personalize, gather audience data, and at a lower digital cost, social networks are also stagnating—as is the audiovisual industry—so there is no other path but to evolve.

Technology is becoming increasingly advanced: this lowers the cost of devices, democratizes their use, and thus expands access to more and more consumers. We are talking about connected consumers whose expectations must be met.

On the other hand, it also reduces dependence on physical resources, events, and travel, thereby lowering costs and environmental impact.