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How are brands attracting women into the metaverse?

How should brands engage with women in the metaverse?

That’s the EWG question Unlimited, the innovation and influence arm of Elite World Group, has partnered with The Female Quotient to release the first global report revealing the reactions, motivations and needs of women in a new Web 3.0 world.

Some 487 online interviews were conducted with women in the United States between May 31 and June 3. All data was fed through Ipsos consumer surveys, as well as LinkedIn polls and people-to-people interviews.

“Consumer interest in the Metaverse continues to grow exponentially, with female consumer interest growing at a rate of 15% month over month – but even so, Metaverse experiences are still largely geared towards men, with men dominating the creation and purchases of virtual goods,” said Erica Bartman, CEO of EWG Unlimited.

“Our new findings reveal powerful, untapped approaches for brands to successfully engage with women through virtual experiences and immersive media, underpinned by the influencer marketing expertise of EWG Unlimited, which claims a 11% average engagement rate on digital and metaverse marketing campaigns, compared to the industry average of just 2% engagement,” Bartman said.

Shelly Zalis, CEO of The Female Quotient, said: “Despite representing almost half of online communities, female audiences and creators have long been overlooked or sidelined at the forefront of innovation. technological. By leveraging Influence 3.0, brands have a major opportunity to adjust their Web 3.0 strategies to empower and educate the high-impact female demographic, and we at The Female Quotient are proud to partner with EWG Unlimited to drive this wave of change.

Titled “Influence 3.0: The Future of Influence for a New Generation of Web 3.0 Women,” the report offers brands a comprehensive playbook for engaging female audiences in the metaverse, which will be unveiled live today at the Cannes Lions Festival of Creativity.

The report’s findings will be explored during live panel discussions and special events at the Cannes Lions. Panelists will include Bartman, Zalis, actress, model, social media influencer and NFT enthusiast Alexis Ren; Emily Pero, Vice President of Marketing and Communications at Burberry, and Miranda Cantacuzene-Speransky, Director of Elite Model Management London.

Among the key findings of the report:

  • Three out of four women have heard of the Metaverse, but only 30% are actually familiar with it.
  • 43% of women aged 18-34 want to join the metaverse to connect and socialize.
  • 33% of women aged 18-34 would visit a metaverse experience hosted by a brand or influencer.
  • Young women are more likely to visit metaverse activations that have been inspired by brands or influencers they follow, but these activations should first focus on people-to-people relationships and community building.
  • For women ages 18-24, aesthetics is the second most important factor in ongoing Metaverse engagement, behind number one, socializing.
  • Despite growing interest in the metaverse, there are still very few women who have accessed it. Only 14% of women have accessed a metaverse platform, like Roblox or Decentraland. Among the small user base, accessibility and education issues are paramount.
  • 53% of brand managers say they are likely to test a Web 3.0 activation in 2022.
  • 13% of women aged 18-34 would attend a metaverse event hosted by an influencer they follow.

Specifically, women make up nearly half of all online communities, yet female audiences and creators have long been overlooked or sidelined at the forefront of technological innovation, according to the report. The study highlighted that women aged 34 and under are more likely to be familiar with the Metaverse than women over 35, with 42% of women aged 18-34 saying they were very or somewhat familiar with the Metaverse. . Only 29% of women aged 35 to 54 and 21% of women aged 55 and over claim the same level of familiarity.

Aesthetics are a key factor, and one in four women said that a beautiful aesthetic would keep them coming back to the Metaverse over and over again. The report showed that most Web 3.0 platforms and products are currently built by men. as interest of women in Web 3.0 products continues to rise, men continue to dominate the way these technologies are designed. In the NFT space, only 16% of creators identify as women. A lack of female representation in Web 3.0 engineering has led to an inherent male bias in Web 3.0 and metaverse aesthetics.

Among the recommendations, brands are partnering with female creators to create Web 3.0 content. They need to mix physical and virtual experiences to meet women where they are already offline. They suggest tapping into talent to inform inclusive avatars and virtual product metrics and advocate for female artistry and thought leadership through NFTs.

One low point is that 33% of women say their internet connection isn’t strong enough to easily access a metaverse platform, and 24% of women say they don’t understand the controls on how to access on their account. Some 62% of women say they don’t understand NFTs, and 36% of brand managers see education and onboarding as the biggest barrier to entering Web 3.0.

The report suggests brands share educational resources and tools through social media and live experiences. They should create a platform for female designers and technologists to experiment and lead, and collaborate with native Web 3.0 talent to showcase female-led design and engineering globally. They recommend joining a forum in The Female Quotient’s Equality Lounge, where leaders collaborate at key conferences to drive change and close the gender gap. Another recommendation is to recruit a committee of Web 3.0 thought leaders to educate your network and start innovation from scratch. EWG Unlimited has formed a Women in Web 3.0 Advisory Council, which aims to strengthen digital ownership and innovation for the highly influential female demographic.

The report found that most brands are still in the very early stages of Web 3.0 adoption, with 46% of brand managers saying they’re unfamiliar with the metaverse and 24% saying they’re still in the process. of experimentation.

EWG has created a step-by-step guide for marketers looking to maximize brand engagements as the first step to entering the metaverse.

The steps include analyzing your brand and target audience needs to determine your virtual footprint. They suggest engaging with existing customers and attracting new followers by creating a bespoke brand environment, complete with your unique message and visual identifiers. Another step is to experiment to reach new Gen Z communities by plugging elements of your brand into gaming platforms such as Roblox or Decentraland, and investing long-term in a crypto-native community strategy to reach the main enthusiasts of the public.

The report also recommends tapping into talent and launching influential avatars by using real-world talent and creating immersive content and experiences that resonate with native audiences. Another idea is to generate buzz by partnering with talent to conduct live chats, create NFTs, and facilitate shopping experiences or entertainment exhibits within the metaverse and engage talent to excite their community and drive traffic to your virtual brand experiences.

The report suggests viewing NFTs and the Metaverse as an extension of its customer retention strategy and an opportunity to connect authentically with Millennials and Gen Z. They recommend brands use NFTs to build connections deeper with customers beyond one-time transactions, as an evolution of traditional loyalty programs. They suggest viewing its NFT holders as brand evangelists and treating them like VIP customers, and continuing to grow your audience and customer data pool with the emerging virtual communication channels.

Recognizing that today’s consumer exists in both physical and digital spaces, the report notes that brands must be prepared to meet them in both realms. They recommend accompanying traditional product launches with virtual content or wearable devices, and creating virtual product lines that can be worn in a variety of metaverse spaces, and increasing conversions by integrating 3D video. and imagery of its products on its e-commerce site.

FOR MORE STORIES:

Burberry doubles its NFTs in the metaverse

ComplexLand has evolved into a metaverse shopping experience

Metaverse, traceability, sustainable business practices discussed at eP Summit 2022


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