Insights in Five: Next-Gen Reality in the Metaverse

Insights in Five:

Next-Gen Reality in the Metaverse

A Suzy Micro Report

June 2022

Insights in Five:

Next-Gen Reality in the Metaverse The metaverse exploded in popular culture in late 2021 as Facebook changed its name to Meta. People were suddenly dropping tens of thousands of dollars on digital art, and brands needed to develop new marketing strategies for virtual spaces. Despite the hubbub around the metaverse, how interested are consumers in actually visiting it?

The brands consumers have heard about advertising in the metaverse include:

53% of consumers are aware of the metaverse.

50% 40%

Facebook

53% Interest, though, isn’t exactly high. 28% of respondents said they were “very disinterested” in learning more about the metaverse.

19%

17%

17%

Coca-Cola

Microsoft

Disney

Weren't aware of any brands advertising in the metaverse

The celebrities consumers are interested in interacting with inside the metaverse include:

10%

56%

10% of respondents said they had attended an event in the metaverse.

22%

21%

Rihanna

Lady Gaga

17% Snoop Dogg

10%

Had no interest in interacting with celebrities in the metaverse

Paris Hilton

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55% of respondents have heard of NFTs, but haven’t purchased them. Of the 9% of consumers that had purchased an NFT, they said it was because:

18%

To support an artist

28%

It was an exclusive item

Key Takeaways Education is Key Back in the 90s, consumers had a hard time understanding the value of the internet. The metaverse faces the same challenge as consumers struggle to understand its utility. However, nearly half (41%) of consumers have some interest in connecting virtually. Brands that want to use the metaverse need to drive messaging to convey the value and opportunities of a virtual world.

Be Strategic With low adoption and low interest at the moment, brands have time to craft compelling metaverse strategies that will actually resonate with consumers.

The major companies consumers said they were interested in seeing in the metaverse were tech companies (like Apple, Microsoft, and Samsung) and apparel companies (including Nike and Adidas).

38%

Liked the design

Keep the Target Audience in Mind

46%

Expect the value to increase over time

Of all the age groups surveyed, Gen Z is most interested in the metaverse.

And men are slightly more interested in the virtual world than women. For those that are interested in the metaverse, exclusivity and unique experiences are major draws. Reward early adopters with special events and virtual swag to continue to drive demand and awareness.

Bottom Line: Take the time to be thoughtful about the metaverse as consumers delay adoption. In the meantime, focus on surprising and delighting the early adopters.