Nearly half of US marketers in a Sitecore survey plan to invest 10-25% of their marketing budgets in metaverse experiences.
A new survey has found consumers in the United States plan to shop, share, and engage with brands in virtual environments.
87% of consumers surveyed in Sitecore's Perceptions of the Metaverse survey say the metaverse will play a significant role in the way that they shop and interact with brands. Another 79% expect to spend more time in the metaverse than on social media apps, like Facebook and Instagram.
Surveying more than 300 marketers, the report found more than two-thirds (69%) plan to build experiences in metaverse-like environments in 2023 and 48% plan to invest up to 10-25% of their marketing budgets in metaverse experiences.
These findings contrast somewhat with the global Campaign CMO Outlook which found that senior marketers are split when it comes to investing in the metaverse.
“When it comes to consumer interest and the need for marketers to start planning for and building metaverse-like experiences, the moment has arrived. Our 2022 metaverse survey reports that consumers expect marketers and brands to devote significant budget and time to creating metaverse experiences that live up to their expectations, are inclusive, unique and personalised,” said Paige O'Neill, chief marketing officer of Sitecore.
“The metaverse presents a new marketing frontier to engage and connect with consumers. Brands and marketers who understand and are starting to embrace and explore this new frontier are already ahead of the game.”
Key highlights
This week, Campaign's media and technology editor Shawn Lim is reporting from the Sitecore Symposium 2022 conference in Chicago.
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