Since Mark announced recently that Facebook company is changing its name to ‘Meta’, I’ve been researching to understand more what does Facebook new name and the concept of ‘METAVERSE’ mean? From what I’ve read, The Metaverse does not yet exist (although my 11yo daughter enlightened me that Roblox platform is called Metaverse – and the games are called experiences), generally, as I’ve come to learn, its definition is malleable.
According to Wikipedia (not my single source of truth by the way) “Metaverse is a speculative future iteration of the Internet part of shared virtual reality, often as a form of social media.
The metaverse in a broader sense may not only refer to virtual worlds operated by social media companies but the entire spectrum of augmented reality” (Wikipedia, n.d).
Metaverse, Consumer Behaviour And Brand Evolution! By Dolapo Otegbayi
As a Marketeer, and Brandpreneur, I’m curious, anxious and (delightfully) wondering what this means for the consumers in the future? Even now, the speed of change in the behaviour of consumers (across the gens) requires us to think fast, decide fast, act fast and move on fast.
It means that we need to travel through time into the future and the new future frequently. And for the Brands? 21st Century Consumers are described as ‘spoiled’. We have everything at our beck and call. With a single click or tap of a button or one voice command, we have access to everything and anything we want in seconds.
“Smartphones are now the remote control of our digital lives and they have tipped the scales of power in favor of the consumer forever” (Forbes, 2019).
Brand Managers, Creative Director, Media Manager …… Marcom….. how ready are you? What disruptions do you envisage?
Dolapo Otegbayi is a Marketing Director, Specialised Nutrition @FrieslandCampina