Abstract
The metaverse, an immersive digital world that combines augmented reality (AR) and virtual reality (VR), offers unique opportunities for consumers to experience brands in a new and interactive way. Virtual influencers, characters that exist solely within the Metaverse, are increasingly being used to connect with consumers and engage with them on a new level. The chapter examines the role of virtual influencers in the Metaverse, including their impact on consumer behavior and their potential to create new value exchanges and revenue streams. The chapter also discusses the challenges that arise when implementing virtual influencer campaigns and how these can be addressed. The potential of the Metaverse to enhance consumer engagement through the use of virtual influencers is analyzed, and recent trends in this area are discussed. The chapter concludes with a discussion of the future of influencer marketing in the Metaverse, including the role of virtual influencers and the opportunities and challenges that lie ahead.
Top1. Introduction
Metaverse is a term that has gained popularity in recent years, particularly in the tech industry. The Metaverse is a term used to describe an immersive digital world that combines augmented reality (AR) and virtual reality (VR), offering a unique, interactive experience for consumers, who can interact with each other and digital objects [AlGhaili et al., 2022]. There is no clear and widely accepted definition of the Metaverse, as it is a concept that is still evolving. However, a popular definition is that the Metaverse is a collective virtual shared space, created by the convergence of physical and VR, where consumers can interact with a computergenerated environment and with other consumers in realtime [Dwivedi et al., 2022c]. This virtual world is designed to provide consumers with a sense of presence and immersion, enabling them to engage with digital objects, and interact with each other as if they were in the physical world. The Metaverse is not a single technology or platform but rather a collection of interconnected platforms and technologies, including VR headsets, AR devices, social media, and gaming platforms. The Metaverse is not limited to a single application or industry but is expected to have a broad range of applications in fields such as education, entertainment, commerce, and social networking [Paulauskas et al., 2023]. The emergence of the Metaverse is being driven by advancements in technology, particularly in AR and VR. The growth of 5G networks, which will enable faster internet speeds and lower latency, is expected to accelerate the development of the Metaverse [Cai et al., 2022]. The COVID19 pandemic has accelerated the adoption of digital technologies, including VR and AR, as people seek new ways to connect and engage with each other [Gasmi and Benlamri, 2022]. As such the Metaverse represents a new frontier for digital innovation, offering a world of opportunities for businesses and individuals alike. As the Metaverse continues to evolve and expand, it is expected to have a significant impact on the way we interact with each other and the digital world around us.
Influencers/opinion leaders have been around us for centuries, but it has taken a new form in recent years with the emergence of social media platforms [Koay et al., 2022]. Influencers are individuals who have a large following on social media and are able to sway the opinions of their followers with their posts and endorsements [Farivar and Wang, 2021]. Brands have recognized the power of influencer marketing and have been using it as an effective way to reach out to their target audience. At the same time, there has been a rapid growth of technology in the form of the Metaverse, which has created new opportunities for businesses to engage with their consumers. The use of Metaverse technology in influencer marketing is a relatively new concept but is gaining momentum [Giang Barrera and Shah, 2023, Dwivedi et al., 2022a]. Brands are now exploring ways to use virtual influencers who exist solely within the Metaverse to connect with consumers and promote their products. These virtual influencers are computergenerated characters that have their own unique personalities and styles, and they can interact with consumer s just like human influencers [Conti et al., 2022, RodrigoMart´ın et al., 2021, da Silva Oliveira and Chimenti, 2021].
Key Terms in this Chapter
Influencer Marketing: This is a form of marketing that involves collaboration with individuals who have a large number of followers on social media platforms and can use their power to promote products or services.
Virtual Influencers: Computer-generated characters that have their own unique personalities and styles, and they can interact with customers just like human influencers; can create new value exchanges and revenue streams; create unique experiences for customers in the virtual world; promote new products and services and to engage with their customers in a more personalized way.
The Metaverse: This is a term used to describe an immersive digital world that combines augmented reality (AR) and virtual reality (VR), offering a unique, interactive experience for consumers, who can interact with each other and digital objects.
Consumer Engagement: This can be defined as status, process, and behavior and involves key elements such as subject (who: consumer, customer, consumer or etc.), object (with whom: company, brand, influencer, fan page, advertising, etc.) and dimensions of engagement (cognitive, emotional and behavioral). There are several consumer engagement perspectives such as multidimensional perspective, psychological perspective, social perspective, experiential perspective, and behavioral perspective.
Consumer Engagement Behavior Perspective Online: This is defined as consumers’ actions, which derive from motivational factors and are aimed at the engagement’s object. The actions generally involve activities from low to high, i.e. from lurking to creating.