- Brands on the Block
- Posts
- [101] A Beginner's Guide to Emerging Technologies for Marketers
[101] A Beginner's Guide to Emerging Technologies for Marketers
Part of the 'Block by Block' Series
Brands on the Block & Riley
May 04, 2024
📢 Introducing the BLOCK BY BLOCK series, helping demystify emerging technologies & unlock their potential for impactful marketing campaigns.
Stay tuned as we roll out more informational content, breaking down everything from the metaverse to NFTs and equipping you to build innovative experiences that resonate with your audience.
What you’ll learn ⬇️
How Today’s Marketing Landscape is in Flux
Demystifying Emerging Technologies for Brand Activations
NFTs
Metaverse & Gaming
AR & VR
The Power of Integrating Multiple Technologies
Why Brands Should Be Acting Now
Getting Started with Emerging Technologies
Common Terms (Glossary)
1. Today’s Marketing Landscape is in Flux
Marketing is no longer business as usual. Consumers are bombarded with messages on countless devices & are increasingly ignoring traditional advertising. Banner blindness is real, & brands are struggling to capture attention & build meaningful connections.
But there is hope! If you follow us at Brands on the Block, you’ll notice the world’s top brands are consistently turning to new formats to create impactful customer relationships. Emerging technologies like the metaverse, NFTs, Gaming, & Augmented Reality / Virtual Reality are changing the game. These technologies offer exciting new ways for brands to connect with consumers on a deeper level, fostering a sense of community, ownership, & adventure that traditional ads simply can’t achieve. While some marketers might dismiss the ability to connect with customers on the level of decades past, the desire for brand loyalty & engagement remains strong.
Feeling overwhelmed by the pace of change? We are here to help! Are you ready to unlock the power of emerging technologies for your brand? Keep reading to discover key technologies & how they can transform your marketing strategy.
2. Demystifying Emerging Technologies
Time to level up! Here’s a breakdown of the leading emerging technologies transforming brand activations.
A. NFTs
Beyond the Memes… NFTs are more than just digital collectibles. Let's back up & dive deeper into their potential for brands.
What are NFTs?
NFTs (Non-Fungible Tokens) are more than just digital collectibles; they represent a revolutionary approach to digital ownership. Imagine a unique digital certificate of ownership for a special digital item. Think "one-of-a-kind digital trading card" for your brand. NFTs are built on secure technology that verifies ownership of a digital asset, like artwork, music, or even a specific in-game item. Unlike Bitcoin (where all coins are identical), each NFT is special and can't be replicated.
NFTs allow individuals to own digital assets independently of a centralized company or authority. They achieve this by being verified on a blockchain, a decentralized digital ledger (or transaction list) accessible across the web.
Activation Potential for Brands:
I. Exclusive Content & Experiences
Offer limited-edition NFT collections tied to your brand that unlock exclusive content or experiences for owners. Think early access to new products, behind-the-scenes access, or virtual meet-and-greets.
II. Drive Product Sales & Prove Authenticity
Create limited-edition products paired with NFTs, adding value and collectability to your offerings. Imagine limited-edition sneakers with an NFT proving authenticity and unlocking exclusive features or promotions.
Example: Prada Timecapsule Collection
III. Build Community & Loyalty
Reward loyal customers with NFTs, fostering a sense of community and exclusivity. These NFTs could offer special perks or discounts, encouraging repeat business and brand advocacy.
IV. Boost Engagement
Engage your audience with interactive NFTs, like gamified experiences or exclusive access to events. Imagine an NFT scavenger hunt within your brand in a metaverse experience.
B. The Metaverse & Gaming
What is the Metaverse?
Definitions of the metaverse vary, but generally means a virtual world (or more idealistically a network of interconnected virtual worlds) where users can interact, socialize, and own digital assets such as virtual apparel, accessories, and in some cases even land.
Is There a Difference Between the Metaverse & Gaming?
Today’s definition of a metaverse aligns closely with the characteristics of video games, which have become increasingly social due to technological advancements over the decades.
These immersive environments, whether a standard video game or a web-hosted social experience, offer brands a unique opportunity to create innovative marketing experiences and engage highly engaged audiences.
What are Examples of Metaverses?
Roblox
Fortnite
Pokémon Go
Spatial (compatible with NFTs)
The Sandbox (compatible with NFTs)
Decentraland (compatible with NFTs)
Activation Potential for Brands:
I. Create immersive brand experiences and storytelling
Transport your customers to a virtual world showcasing your brand story, products, or values. Create memorable brand experience like virtual events, concerts, and games.
Example: Sol de Janiero ‘Universe’ on Roblox
Example: MLB Live Game Metaverse Watch Party
Example: Absolut ‘ABSOLUT.LAND’ on Spatial
II. Launch virtual storefronts and products
Drive a new stream of revenue by developing a virtual storefront within the metaverse where users can browse and purchase digital or physical products.
Example: Mango Virtual Store on Roblox
III. Partner with metaverse creators for brand integrations
Collaborate with established companies & creators to integrate your brand organically within their virtual worlds. Think pop-up shops, branded billboards, sponsored events, and product placements.
IV. Create branded gaming experiences and challenges
Develop interactive gaming experiences or challenges within popular games, allowing users to engage with your brand in a fun and memorable way.
V. Create a game that lives outside of an established platform
Develop a standalone gaming experience, such as a dedicated app or mobile web game, that provides users with unique interactions and experiences.
Example: Nike’s Jordan Brand Dirt Bike Game
Example: Maison Margiela NFT Numbers Game
C. AR & VR
AR and VR offer innovative ways to bridge the gap between the physical and digital worlds, creating engaging and interactive experiences for consumers.
What is AR?
AR (Augmented Reality): Overlays digital elements onto the real world through a mobile phone or headset. This is the foundation of many social media app filters (ex: the ability to try on virtual glasses through your phone's camera).
What is VR?
VR (Virtual Reality): Fully immerses users in a computer-generated environment. With a VR headset, you can be transported to a virtual world, like a concert or a busy city street, all from the comfort of your home. Some metaverses can be accessed on a VR headset.
Activation Potential for Brands:
I. AR Product Visualization & Try-On Experiences
Allow customers to virtually try on clothes, makeup, or even furniture in their own space before purchasing. Think of companies like Sephora offering virtual makeup try-on experiences or IKEA allowing users to visualize furniture placement in their homes. Additionally, there are many companies offering AR-enabled mirrors for in-store product try-on.
II. VR Brand Storytelling & Product Demonstrations
Immerse users in a captivating brand story or product demonstration within a VR environment. Imagine experiencing a Milan fashion show virtually or exploring a flagship store VR headset.
Example: Decathlon Vision Pro Shopping App
III. Interactive AR Games & Activations
Develop interactive AR games or activations that encourage user participation. Think of scavenger hunts enhanced with AR elements similar to Pokémon Go or interactive product displays.
Example: ASOS AR Catwalk
3. The Power of Integrating Multiple Technologies
Brands can unlock exciting possibilities by strategically integrating NFTs, the metaverse, gaming, and AR/VR into marketing efforts. Additionally, these emerging technologies can complement and enhance one another, creating seamless experiences that go beyond individual platforms and devices.
Imagine a fan joining a metaverse watch party for their favorite sports team. Because they attended, they received a commemorative NFT. Their actions showed their loyalty to the team, which rewards them early access to playoff tickets or entry into a raffle for exclusive fan experiences.
By getting creative and stacking technologies, brands can create holistic marketing campaigns that engage consumers across multiple touchpoints, reinforcing brand messaging and driving conversions.
4. Why Brands Should Be Acting Now
Many brands have realized that standard ad formats are not enough to create meaningful relationships with today’s consumers. There is a clear opportunity to complement awareness-driving tactics with deeper, relationship-building programs. Leaning into new technologies will help brands:
Cut Through the Noise: Stand out from the crowd with engaging and interactive experiences that capture consumer attention and create lasting impressions.
Reach New Demographics: Tap into younger and engaged audiences within the metaverse, gaming platforms, and AR/VR experiences.
Build Deeper Connections: Foster a sense of community, loyalty, and ownership through exclusive NFT collections, interactive experiences, and gamified activations.
Drive Sales & Engagement: Offer unique value propositions by linking NFTs to physical products, creating interactive AR product try-on experiences, or hosting virtual events within the metaverse.
Stay Ahead of the Curve: Embrace innovation and showcase your brand as a forward-thinking leader within your industry.
The window of opportunity to capitalize on emerging technologies is now. Brands that act quickly and decisively to integrate these technologies into their marketing strategies will gain a competitive advantage in an increasingly digital marketplace.
5. Getting Started with Emerging Technologies
Excited by the potential but don’t know where to begin? Here are some steps to get you started:
Identify Your Goals: Define your marketing objectives and target audience. How can these technologies help you achieve your goals and connect with your customers?
Research & Experiment: Stay informed about the latest innovations and explore brand activations using these technologies.
Start Small & Test: Don't jump into complex projects. Define a budget that can be used to start a small campaign and test the effectiveness of these technologies for your brand.
Seek Expert Help: Partner with agencies or consultants who specialize in integrating emerging technologies into marketing campaigns.
Stay in the Know! Subscribe to our newsletter for ongoing updates & examples of how brands are using emerging technologies.
Looking for More Brand Inspiration? Check out our Activation Database for the latest innovative brand activations.
6. Common Terms (Glossary)
NFTs & Blockchain:
Blockchain: A secure decentralized digital ledger that records transactions across a network of computers. NFTs utilize blockchain technology to track and verify ownership.
Fungible: Items that are identical and interchangeable (ex: Bitcoin)
NFT (Non-Fungible Token): A unique digital token representing ownership of a digital asset on a blockchain. (ex: owning a digital artwork or a limited-edition item within a game)
Smart Contract: A self-executing contract agreement written in code on a blockchain platform used to distribute NFTs.
Tokenomics: The mechanics of how cryptocurrencies and NFTs are designed and function within an ecosystem.
Web3: A concept for a future iteration of the internet that is decentralized, blockchain-based, and user-owned.
Metaverse & Gaming:
Avatar: A digital representation of a user within a virtual world, often customizable.
Metaverse: A virtual world where users can interact, socialize, and own digital assets.
Metaverse Platform: A software application or online service that allows users to access and interact within a metaverse (ex: Roblox, Fortnite, Spatial, Decentraland, The Sandbox).
Gamification: The application of game-design elements and principles to non-game contexts, often to enhance engagement.
Mini-Game: A game within a game (ex: scavenger hunt on the Roblox platform).
In-Game Advertising: Placing advertisements within video games, such as on billboards or product placements.
AR & VR:
AR (Augmented Reality): Overlays computer-generated elements onto the real world, typically viewed through a smartphone, headset, or smart mirror (ex: trying on virtual makeup with a social media app).
VR (Virtual Reality): Creates a fully immersive experience within a computer-generated environment, typically using a VR headset (ex: attending a concert virtually).
DISCLAIMER: This content does not contain investment, tax, legal, financial or other advice & is not intended to be used in this way. It includes the opinions of the author & is strictly for informational purposes. Please do your own research.
Reply