Exploring the Potential of DOOH in the Metaverse
Published: January 14, 2022
The metaverse has become classified as the evolution of the Internet by CEOs, tech giants, and innovators, with an estimated worth of $8 trillion to $13 trillion in the total addressable market by 2030. In fact, Mark Zuckerberg is so sure of the metaverse that he changed his company brand from Facebook to Meta and revealed his plans to invest $10 billion in creating AR and VR hardware, software, and content in 2021. Zuckerberg is not alone in this endeavor, with multinational tech companies like Microsoft, Google, and Amazon betting billions on the considerable potentiality of the metaverse.
Not only are major global tech companies getting involved, but so is the advertising industry! Brands are seeing this as an exciting channel to connect with consumers in an unimaginable way. Yet, despite the flood of enthusiasm and investments in this utopian world, the gaming ad landscape still needs to be explored. According to eMarketer, although the gaming ad business is worth more than $8 billion, it still accounts for less than 6% of the estimated $140 billion total digital ad revenue market.
As the metaverse develops, marketers need to find a creative, discreet, and personalized advertising approach that reaches over three billion global gamers while blurring the lines between the physical and digital realms. Many savvy companies are remedying the disarray of ad platforms by implementing in-game digital out-of-home (DOOH) advertising. Programmatic in-game advertising companies such as Bloxbiz, Anzu, and Adverty are deepening brands' relationship with the gaming environment in a well-integrated and non-disruptive approach. Big brands such as Coca-Cola, Nike, and McDonald's have already jumped on the in-game DOOH advertising train.
Similar to the real world, DOOH ads are strategically designed to fit the game’s environment, with millions of users viewing the virtual scenery at a given time. Studies show DOOH advertising significantly improves brand awareness and engagement but does this ring true for in-game advertising?
Bakugan witnessed first-hand how in-game DOOH advertising worked for their company. The anime television show wanted to promote its toy action figures to gaming audiences around the holiday season. With the help of Bloxbiz, its dynamic creatives were illustrated seamlessly on 3D billboards and posters across 100 games in the Roblox metaverse. The campaign proved to be a success, reaching over 6.2 million people. Audiences exposed to the ads were 26% more likely to play with Bakugan toys and 21% more likely to ask for the toys as a present.
Not only does in-game DOOH advertising build brand awareness, but with enhancements in programmatic, advertisers will be able to hyper-target and measure consumer behavior in the online universe. Game developers or DOOH platforms can provide advertisers with data such as the amount a user played and the amount of time they viewed each screen, giving valuable insights into their preferences and purchasing habits. With this information, brands can refine and improve marketing campaigns to deliver a more effective and targeted ad.
Another benefit of DOOH in the metaverse is its ability to create a more interactive visual ad experience. The immersive experience with digital content can become a more natural and intuitive way for consumers to interact with brands. Roblox CEO Dave Baszucki recently shared at the Roblox Developers Conference that an "immersive advertising system" will soon launch on their 3D portals and billboards. Baszucki stated, "players will be able to choose whether to stop by, use that pop-up or portal or door, you name it, to jump over to one of our brand experiences, experience something new… (then) pop back to the experience that they're playing."
The emergence of the metaverse comes with an unexplored and exhilarating blank advertising canvas for marketers. With DOOH, advertisers have limitless potential to be a powerful game-changer in these virtual worlds and environments. The ability to deliver highly targeted, personalized, and immersive content will drive the user experience, and sales lift! If you're ready to launch your DOOH campaign, our team of experts is prepared to help at no charge to you! Contact us at email@example.com.