It’s very exciting to get caught up in the narrative about the metaverse, but the reality is that 17 million Australians already play regularly, and his company and co-founder Brad Manuel are working with brands on “workable results,” Livewire co-founder Andy Khabra told Mumbrellacast this week. .
“I think the word metaverse, and the word metaverse are overused at the moment,” he said. “When we talk to brands, it’s a lot more about practical outcomes and what we can actually achieve by connecting them to the gaming community and the gaming ecosystem.”
“When you think about the range of solutions we provide to brands and our customers, it really starts off to the point of researching and understanding what the consumer intersection of that brand is, and then you really get to an objective view of KPIs and brand outcomes.
“Mostly, this is starting to look at things like lifetime customer value, brand affinity and brand loyalty, but it can also be in more tactical and gaming areas as a gateway to that new set of audiences that you can actually achieve, whether it’s to build a long-term strategy The range is to gain user gain or market share or be defensive. You can actually create that within this new space.”
Despite the hype surrounding metaviruses over the past 12 months, Ipsos research in May found that only 44% of Australians are aware of it, and a news item said that while it’s easy to get caught up in the call, it’s still “in the early days” What is the ultimate vision?
“I think keeping it practical in the results would be a better use case for campaigns and, more importantly, the results of the campaigns that brands are trying to play against.”
It’s a two-way story, he said, “not just for brands and marketers but also for consumers because user experiences should be there as well.”
“You don’t necessarily want to build something where only ten people will show up and then all of a sudden it stays stagnant and there is a pile of investments that have been invested in it. So there is definitely a balance to be struck.”
While it has remained modest about the sheer amount of opportunities in gaming, which has seen Livewire’s partnership with gaming giant Activision Blizzard, and most recently Uber Eats, it has also launched offices in London, Singapore and Mumbai, in its already short existence.
Manuel talked about what to expect in the next five to 10 years for Livewire, and marketing in games in general, which already has a consumer base of 3 billion globally.
“I think we’ll see more and more brands that are really woven into games, but not just from an advertising standpoint. We’ve seen some really bad examples, maybe others of how not to do it, but their idea and concept is correct.”
“A game like Apex Legends, Cyberpunk, or any game based in a world where there are current or pre-existing ads, game creators are making fake ads, fake worlds, fake stores, fake stores, and fake products, because the modern age doesn’t feel the world without products.
“So I think we’ll see more global and regional partnerships on how to integrate this into games, as well as how publishers will upgrade their technology to be able to cut deals regionally and segment them in the same way they would for sports LED screens where you overlay them with different graphics and pieces.”
Catch up on the full conversation with Manuel and this week’s Mumbrellacast story.