The practice of advertising is being transformed by Metaverse – Rotimi Bankole
By Abimbola Mohammed
Media planning expert Rotimi Bankole, CEO, SBI Media (the foremost Next-Gen media planning, branding & digital marketing agency), has said even though Metaverse continues to be the buzzword of the moment transforming the creative sub-sector, it is no surprise as the practice of advertising is shaped by innovation since its existence as a profession.
Responding to the enquiry by MARKETING EDGE Magazine on the role of Nigerian agencies in the new world of Metaverse and how these early iterations are shaping the future of advertising within the Integrated Marketing Communications (IMC) space, Mr. Bankole said the advent of modern advertising has been shaped by innovation.
“Since it became a full blown profession, the practice of advertising has been shaped by innovation from the industrial revolution, development of the Internet, social media, artificial intelligence (AI) and data analytics. The Metaverse is yet a watershed innovation that is going to change advertising as we know it. The way and manner we build and help brands to engage is going to change.
“For example, just imagine if the real world we live in is going to have a digital copy, how will you build your brand? How will consumers behave in this world and how does this translate to their behaviour in the physical world? These are the key dimensions that are going to face a huge disruption as the Metaverse further iterates,” he said.
Speaking on the role of advertisers in ensuring updated privacy standards on a local and global level in creating successful targeted ad campaigns and also ensuring that the new digital world is not cluttered with ads, he said: “Actually the Metaverse could be an improvement on the ‘zero ad’ policy of the streaming platforms such as Netflix, Peacock and Amazon Prime. The ecosystem is going to be an open platform where the consumer is not only having unlimited choices of how they want to be engaged with brands, but a platform in total control of what they want to see, touch or feel because the Metaverse will decentralize the connection and engagement. Agencies will need to bring more to the table. Innovative agencies would thrive at the end of the day.”
The media guru said his agencies SBI and Streams Media are gathering knowledge on Metaverse so as to help brands who want to play in that world meet their goals.
“First thing we are doing is to gather more knowledge and understand the key assumptions and realities embedded in the Metaverse hypothesis. As we gather more knowledge than any of our pairs, we believe we are going to be at the forefront of innovation for brands who want to play key roles in the Metaverse,” he revealed.
He explained that being a global agency, SBI is going to be one of the major players in the decentralized Metaverse world and also in Web3.0.
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