If the metaverse materializes into a globally adopted reality, creator marketing will likely play a major role in brand success.
A new study from creator marketing agency Billion Dollar Boy attempts to break down future opportunities for creators, brands, and overall metaverse trends.
From 4,560 interviews and surveys with consumers, brand marketers and creators across the U.S. and U.K., the study shows that younger consumers are already utilizing metaverse technologies, as 33% of U.S. Gen Z respondents and 27% U.S. millennials are active in the space.
But because the metaverse has not fully materialized and still exists as a plethora of separate experiments, technologies, and experiences, the majority of respondents remain confused about the metaverse.
Only 28% of U.S. respondents reported being able to confidently describe the metaverse to another person while 21% said they are ambivalent, and another 21% said they are “confused.”
Still, 46% are keen to know more and 36% said they would attend a brand event within the metaverse.
Some consumers are also curious about virtual influencers, with 29% of U.S. respondents stating they would purchase a product (clothing ranked the highest) or service promoted by a virtual influencer.
According to the study, marketers are ready for metaverse opportunities. Over a third of U.S. brand marketers reported being “excited” about the metaverse and 26% said they are “hopeful.”
Almost 70% of marketers in the U.S. said the brand they are working for has already formed a dedicated in-house team or agency exploring possibilities within the metaverse.
Almost 60% already have a budget set aside for marketing activity within the metaverse, and 57% reported they are executing a marketing strategy within the burgeoning metaverse space.
Almost two-thirds of marketers said they would consider working with a virtual influencer, and 59% said they would be willing to give up creative control for a metaverse campaign to work with a creator who is well-versed in metaverse spaces.
“As a space that is still yet to be built, the metaverse has huge potential for brands,” says UK CEO and founder of Billion Dollar Boy Thomas Walters. “The creative opportunities are infinite, and unknown, and those marketers who are willing to be bold and invest now will reap the rewards.”
“Creators are key to brands successfully entering the metaverse,” adds Walters. “They have unparalleled experience in establishing communities and spearheading innovation, and they will lead the way in this next era of the web.”