Affiliate Marketing Within The Future Of The Metaverse
Oh boy, the talk of the year: The ‘Metaverse”. And so many are asking, "how does it even work?". It’s a concept not only extremely difficult to grasp but one that many will have to jump on board with in order to know what to expect.
Here’s a sneak peak into the future of affiliate marketing within the Metaverse.
What is the Metaverse?
At a high level, it’s a realm of avatars that individuals have made of themselves living in a 3D reality through the eyes of virtual goggles. You can interact within different worlds, with others in those worlds, or invite others into a world you created. Really, it's like a virtual reality game but a lot closer to reality. Have you ever played those Facebook games where you create a giant farm village over time? Think of it like that but like a global village where you can create your own currency and visit other ‘dimensions’, so to speak.
How does Metaverse tie in with marketing? It’s actually a big deal!
The Metaverse provides limitless opportunities for brands to grow. Take Nike’s partnership with Fortnite that integrated the apparel in. This allowed players to purchase sneakers for their players in the game. A limitless global virtual reality world brings many opportunities for business growth. You can meet a player who needs financial help with their currency. You can provide AI integration in the Metaverse for the apparel you sell and the players can try on. The Metaverse is going to grow within the next couple years and more brands will have to board (and steer) the ship.
Should you get on board with affiliate marketing in the Metaverse now or wait till others have had a chance to test drive it first?
If you have the means to do so, then you should hop on the bandwagon asap. Any brand or individual that joins in the infancy stage of a platform that’s expected to grow big does best. The first influencers on Instagram are as big as they are because they took advantage of the rising platform in its infancy stage before it got “too big.” Once a platform is overpopulated, it becomes more difficult to get noticed, which is the issue we are now seeing with Instagram, TikTok and Youtube.
The best way to go about this is to join the Metaverse, do some research on what’s currently going on in there, and see if your brand would be a good fit to enter in the 'verse and begin that journey. If the time isn't right, then set reminders weekly to check in and see what’s going on in the Metaverse til the right opportunity arises to jump in and start advertising in the Metaverse!
Some tips about affiliate marketing in the Metaverse
Affiliate marketing can look a little different in the Meta and that’s because individuals are presented in different ways from being avatars, virtual world or virtual offices/homes.
Currency can work a little different in the Meta as far as how commission for affiliates get paid. Payments can be in NFT’s, crypto and even completely made-up currencies in some worlds.
Overall, it’s important to learn and understand:
- The different currencies, how they work, and how to navigate them
- UX (user experience) trends
- Worlds and platforms within the Metaverse
- VR (virtual reality) trends
- AI (artificial intelligence) as it relates to the Metaverse
Yes, it seems like it’s hard to grasp this concept and having to learn something that’s so foreign to many of us. However, capturing it in its early stages, familiarizing yourself with how it works to begin affiliate marketing in the Meta is going to get you ahead of the game and will be much worth it in the long run!
What type of products are benefiting currently on Metaverse?
One of the most obvious ones is tech companies. Especially if your tech product or software plays an influential role in navigating this platform.
E-Commerce platforms will also do very well in the Metaverse. Virtual online shopping will likely skyrocket and products and services that fit within this category are going to be sought after in the Metaverse. Avatars will be looking for businesses to affiliate for in this category, and business will likely need to recruit avatars to affiliate for them!
How is the Metaverse operating now and how do I get in?
There are some Metaverse platforms you can join, however you will need to assess which one is most aligned with your brand. It’s important to note that the Metaverse is in it’s infancy stages and there are still some challenges to iron out. Picking a platform for now and getting educated and familiarized with how the Meta works is key. As stated, joining a concept or platform as an early adopter in its infancy stage proves long-term and larger success for that brand.
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