Metaverse marketing under threat as more brands adopt AI technologies
By Zion Rufus
The emergence and rapid adoption of AI and its technologies have certainly impacted the race for the metaverse, as more brands ditch their metaverse plans to pursue and develop generative AI technologies.
As a result, the decision of whether to focus on AI or the metaverse now depends on a brand’s specific marketing goals and the resources they have available to achieve them.
The concept of the metaverse, a virtual shared space where users can engage in a variety of activities and interact with each other, has been around for years, however, the increased adoption of artificial intelligence and its technologies has slowed down the race for the metaverse.
According to Helen Akue, a brands and communications professional, “the metaverse is a long-term bet”, and while some brands are willing to take that risk, others are more interested in what’s working right now.
Akue points out that AI is also more scalable and easier to implement than metaverse technologies, making it a more attractive option for many brands.
“AI-powered marketing technologies are delivering real results for brands, and that’s hard to ignore,” she said.
Over the years AI-powered marketing technologies have made it easier than ever before for brands to create personalized and targeted experiences for their customers. By analyzing vast amounts of data, AI can identify patterns and preferences that can be used to tailor marketing messages, product recommendations, and more. This has led to a significant increase in marketing effectiveness and ROI, as well as improved customer satisfaction.
On the other hand, the metaverse is still a relatively new and untested concept, and its potential benefits for marketing are not yet fully understood. While some companies have made significant investments in metaverse technologies, many others are hesitant to commit resources to something that may not deliver a measurable return on investment. This uncertainty, combined with the growing success of AI-powered marketing, has led many brands to shift their focus away from the metaverse.
Christopher Aigboje, a digital marketing professional agrees. “AI has revolutionized our marketing efforts, allowing us to deliver more personalized and relevant experiences to our customers. We’ve seen a significant increase in engagement and sales since implementing AI-powered marketing technologies, and we’re continuing to explore new ways to leverage AI to drive even better results.”
However, not everyone in the tech industry is convinced that AI is the answer to all marketing challenges. Some experts argue that the metaverse still holds significant potential for brands that are willing to invest the time and resources to explore it.
“AI is certainly a powerful tool, but it’s not a panacea,” says Joko Mordi, CEO of Brands Outreach. “The metaverse offers unique opportunities for brands to create immersive experiences that can’t be replicated in the physical world. While AI can help make those experiences more personalized and targeted, it can’t replace the power of truly immersive storytelling.”
However, it is important to remember that both concepts have their own unique strengths and weaknesses. AI-powered marketing is delivering measurable results for brands right now, but the metaverse may offer new and innovative ways to engage with customers in the future.
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