4. Focus on your target audience
A target audience varies from company to company. All businesses have particular needs and different audiences they’re looking to reach. Focusing on the group of customers you’re catering will also affect the ways in which your product or services are advertised and sold. Having a product that is optimized for the metaverse is great, but it might not be enough when it comes to moving your business there. A good starting point is doing a proper market research and having a closer look at aspects like the age demographics and the top experiences preferred in some of the top metaverse-like platforms.
Roblox: As of the end of 2021, this platform had 50 million daily active users, with the fastest-growing demographic being the 17-to-24-year-olds. This audience values constant new content updates and complex experiences featuring visuals and effects, which helps explain the popularity of Roblox top events held in 2021, including Gucci Garden, Twenty One Pilots Concert Experience, KSI Launch Party and the Roblox Fashion Awards 2021. It’s also important to note that the Roblox community is known for its creativity and last year alone, some 25 million-plus virtual items were created on the platform and 5.8 billion virtual items were acquired.
Decentrand: As one of the most exciting and fastest growing metaverses, Decentraland saw its user base growing by as much as 3,300% and the price of its in-platform currency MANA spiked some 4,100% in 2021 alone, underscoring the vast interest this metaverse has been getting. While mostly focused on enabling users to claim ownership of virtual land on a blockchain-based ledger of parcels, Decentraland is also a hub for events, advertising and user-created content, making it the perfect destination for brands. As it also attracts a diverse crowd, this metaverse has an enormous potential no matter the type of business you’re running.
Axie Infinity: There’s no talk of the metaverse and technology like NFTs without mentioning Axie. This game and metaverse-like platform has reached cult status, especially among those aged between 19-29 years old, with most of the players of Axie being from Asia. Most users will spend on average up to two hour per day on the platform. Although mostly focused on gaming, Axie frequently promotes marketing and partnership opportunities through its developer Sky Mavis.
The Sandbox: This NFT game has a loyal demographic and a thriving marketplace that saw over 100 artists sell user-created NFTs for 2.2 million $SAND in 2021. It also has over 165 brand, IP and artist partners including Snoop Dogg, DeadMau5, Avenged Sevenfold, The Walking Dead, and the Smurfs, reaching an audience of over one billion fans. The Sandbox’s target audience can generally be divided into creators and players, each drawing a different range of demographics, from youngsters who enjoy connecting with others on the platform and are challenged by gameplay to the adults who prefer investing in world-building activities.
Finding where your target audience might be in the metaverse is an important step for any business aiming to be successful in a virtual format, but would also recommend that you not forget about additional steps like creating a truly innovative and attention-grabbing metaverse store (you might need the help of a metaverse developer for this), assembling a great customer support team and focusing on advertising that is optimized for meta platforms and channels. All of this will help you transform your business into a brand that can have higher chances of resonating with some of the present and future users of the metaverse.
