A Lot Of Brands Don’t Know What The Metaverse Is, According To This Study

Facebook’s name change to Meta made the metaverse one of the most widely discussed pieces of future tech that is out there right now. While Meta’s reasons for the name change might have more to do with the controversy that Facebook had been embroiled in for almost half a decade at the very least, the metaverse has regardless become an interesting topic and if it becomes as influential as people are currently saying it will then it might become a game changer for the world of marketing.

With all of that having been said and now out of the way, it is important to note that most brands, marketers and analytics professionals don’t seem to know what the metaverse actually is, nor are they aware of the impact that it can have on them moving forward. An analytics firm by the name of ListenFirstMedia recently conducted a survey wherein it asked various brand marketers whether or not they knew what the metaverse was, and the results are quite surprising.

22% of the respondents said that they had no idea what the metaverse was at all, with 49.5% saying that they somewhat knew what it was. A further 10% said that they were not sure what it was, with only 18% saying that they did, in fact, know what was meant by the term metaverse. This might be a bit of a roadblock in Meta’s journey to turn the metaverse into its main product, and that might actually be the point since having a very vague product can make it difficult for government institutions to regulate them.

Another survey that asked consumers what social media platforms they trusted the least revealed that around 44.5% of people that Facebook is the least trustworthy platform out there. However, 14% also said that Instagram was the most trusted platform, and 40% of brands called it their most important marketing resource as well. Hence, the focus on the Metaverse might be rather harmful for the company unless the people that they serve are able to figure out what the term means and how they can use it to their advantage to any extent at all.

Read next: "Metaverse" is becoming the most used keyword for several platforms to get some extra eyeballs
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