In the metaverse module given to the Digital Marketing graduate program at the University of Santiago de Compostela in Spain, this week, Magua and Sitearm presented the students how metaverse platforms can be used in digital marketing and metaverse marketing applications of real brands.
We gathered at our virtual campus and from there we moved to the presentation area on our virtual campus. Magua gave an opening speech here and talked about the content of today's lesson. Later, Liss from the WBH team told the students about presomatic and speakeasy tools that they can use while presenting in SL, and these tools were shared with the students. Liss emphasized that using these tools while presenting in SL is an effective way of presenting. Liss then shared her e-mail address with the students so that they could contact them if they needed help with the presentation, and ended her presentation here, leaving the floor to Magua.
Magua started his speech by defining the concept of 'virtual economy'. He gave various examples and statistics about the virtual economy. He talked about virtual born businesses and the concept of avatar entrepreneurship.
Later, Magua explained how the 4Ps concept in classical marketing can be adapted to virtual world marketing. He gave examples from businesses established in virtual worlds and people who generate income from second life (Belleza, Maitreya, Anshe Chung). For example;
- Product: digital product,
- Pricing: cryptocurrencies and linden dollars,
- Place: Second Life marketplace,
- Promotion: virtual events.
He gave examples of businesses established in virtual worlds.
Later in his presentation, Magua also gave examples of real brands' marketing activities in virtual worlds. After these examples, Magua ended its presentation with 'thing to learn from SL'. After Magua, Sitearm started his presentation.
Sitearm began his presentation by explaining the SL currency Linden dollar, the Second Life marketplace, and the SL economy. Site then made comparisons between costs in the physical economy and the virtual economy. Comparisons were made on the factors of design cost, production, product reproduction, storage, distribution, sales, and pricing. He talked about the similarities and differences between the real economy and the virtual world economy. Then he gave statistical information about the number of users of various virtual world platforms. Additionally, Site gave examples of brands that have existed in the virtual world for more than 10 years. Finally, he ended his presentation by talking about current trends and future trends in virtual worlds.
After Sitearm's presentation, students were divided into groups represented by 6 different colors (blue, green, red, purple, yellow, and gray). Each group went to the area with the flags in the field according to the colors of their teams and had an in-group discussion for 20 minutes. Here, the teams chose their team leaders, decided when to meet with Liss for the presentation, and decided concept for their digital marketing presentation would be about.
After the group discussions, they gathered in the field again, where Site called the groups separately and asked the following questions:
- Who is your team leader?
- When are you meeting with Wisdom?
- How are you reaching each other between classes?
- What part of digital marketing is your team going to focus on for your project?
- What have you heard today that catches your interest?
After the students answered these questions, the lesson ended.