After 2 days of discussion around the opportunities and practical challenges of the “real-world metaverse,” (still an undefined concept), we pause to examine the agency perspective. A key piece of the marketing and commerce value chain, how do they see the opportunities to “merge realities.”

Key Takeaways

Here are a few key messages or insights that we gleaned from this session.

• Agencies are in an influential spot in guiding brand marketing strategies and tech adoption. That was the case with mobile, social and all other technological paradigm shifts.
• … And it will be the case with the metaverse. That includes fully-online 3D experiences such as brand experiences in Fortnite and Roblox. And it includes the “real-world metaverse” that lets brands create digital experiences in the real world.
• The latter includes everything from utilities (e.g. shoe try-ons), to whimsical brand experiences (Snap selfie lenses). These are inherently new mediums and marketing tactics, which carry a new playbook.
• In holding brands’ hands through this transition, it’s an educational process. That will include helping brands develop competency in not just creative execution, but measurement.
• Broadly speaking, the latter will be a key evolutionary step. Just like the world had to learn new metrics and benchmarks in the smartphone era (e.g., measuring foot traffic versus “clicks”), the real-world metaverse will need native metrics to capture its depth of engagement.
• Put another way, beware of metaverse experiences measured in CPM terms…

The Agency Perspective

Will the real-world metaverse present new methods and modalities for brand and SMB marketing? Agencies will have a front-row seat.

Wendi Caplan-Carroll, Square Biz
Kate Conroy, New Jersey Business & Industry Association
Petia Abdur-Razzaq, The Stylista Group