Affiliate marketing is one of the most important tools available to modern businesses. It is a cost-effective marketing method with high ROIs and can allow for focused, targeted campaigns. Many companies are now launching affiliate programs to take advantage of the many benefits they can offer.
Over the past few years, the Metaverse has entered the public vernacular and become one of the hottest topics in tech. Touted by major brands like Meta, it is expected to revolutionize how we interact in the digital domain and will have a major impact on both individuals and businesses. The Metaverse promises to create new opportunities for businesses and affiliate marketers, let’s take a look at some in more detail. Keep reading to find out more.
What is the Metaverse?
Before we get into some of the opportunities affiliate marketers can expect to see in the Metaverse, it’s important to clarify just what exactly the Metaverse is.
While the idea of the Metaverse has only recently been picked up by modern tech companies and entered the public sphere, the concept itself is actually fairly old, dating back to the 1990s when the idea featured in works of science fiction.
Essentially, the Metaverse is a fully immersive, virtual reality (VR) world where users, represented by avatars, can do a number of things including interacting with one another, viewing and engaging with content, and shopping. The Metaverse, at its core, is a 3D representation of the internet that users experience through the use of VR headsets.
If this seems like a futuristic concept, that’s because it is. If the Metaverse becomes as popular and as widely used as companies like Meta hope it will, it will change the face and scope of the digital media landscape forever. What will this mean for affiliate marketers and what kind of new opportunities will there be? Let’s find out.
New products and technology
The Metaverse is built upon and relies on technology. It wouldn’t be possible without VR, and as VR systems continue to develop and improve, we can expect to see even more realistic, immersive, and interactive Metaverse experiences.
This is something affiliates can get involved with outside of the Metaverse. VR headsets and equipment are becoming increasingly popular, with brands like Oculus Rift garnering significant mainstream attention. Oculus Rift currently offers an attractive affiliate program with a 3% commission on headset sales. As more and more people take an interest in the Metaverse and want to experience it for themselves, becoming an affiliate partner for a VR technology company could be a potentially lucrative choice.
For affiliates working inside of the Metaverse, VR equipment should still prove to be an effective product choice. People will always want the next best thing and will be looking for something that will improve their Metaverse experience.
New markets and demographics
Identifying and targeting particular demographics is crucial for the success of any business. What these markets are will depend on the specifics of a particular product or service and can dictate how marketing campaigns and strategies are designed.
Younger demographics like Gen Z are one of the most sought-after markets, with companies scrambling and competing to figure out what will best appeal to younger generations. There are a number of reasons for this, the primary one being that successfully targeting and appealing to young people can offer businesses more success long term.
Several studies have indicated that the vast majority of the Metaverse user base is made up of young people, with nearly 55% of users of the popular Metaverse game Roblox under the age of 13.
This presents a unique opportunity for marketers and can give them access to an untapped market of young, tech-savvy people that would be far more difficult, or even impossible, to reach through traditional marketing channels.
New types of content
Content is the foundation of the internet, and it has been utilized by businesses to generate growth, drive traffic, and secure sales. From articles to blog posts, images to videos, the range of content available online is endlessly diverse, with businesses required to have a broad, all-encompassing approach to content creation if they want to see the best results.
With the advent of the Metaverse, content and how it is created is expected to change significantly. It will no longer be restricted by the small screen, 2D format of today, but will instead need to be designed with a fully immersive, 3D world in mind. Interaction will be the name of the game; content creators and marketers will need to come up with ways for their content to encourage and reward user engagement.
The buyer journey is set to change, with many predicting a return to more traditional shopping-like experiences. Rather than watching videos and following links, users will be able to view and react to products in real-time, with affiliate marketers set up in Metaverse-based shops, offices, or retail locations.
If the Metaverse takes off like Meta hopes it will, we can expect to see substantial changes in consumer behavior and preferences. Businesses and affiliate marketers will need to be ready for this change if they want to take full advantage of the opportunities available in this new virtual world.