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Archetypes for Virtual Worlds Emerging
Virtual Worlds Experimentation Continues to Extend Brands
Boston, MA - 14 May 2008 - A Strategy Analytics study of various virtual worlds revealed multiple business models in various stages of experimentation -with a few showing signs of significant promise. This report, "Finding Real Business Value in Virtual Worlds," investigates approaches to this new medium. Already several leading brands have invested significant marketing dollars into virtual worlds in order to extend their brand presence.
"While virtual worlds have been met with a mix of enthusiasm and skepticism by the press, it is not too early to begin exploring options for developing a financial position in them," according to Adrian Bowles, Ph. D., Executive Director of the Strategy Analytics Virtual Worlds Strategies research. "Virtual worlds hold significant potential for extending brand equity to a variety of audiences, despite few real metrics that can authenticate their value." This report identifies trial models for value creation within virtual worlds, in an effort to determine their overall business value and brand impact.
Barry Gilbert, Vice President and Research Director, notes, "Leading firms are already making their presence known in virtual worlds, in order to further build brand loyalty. The cost of entry and experimentation is still relatively low, with a minimum downside risk and enormous upside potential." Gilbert adds, "While few standardized metrics exist to support ROI, top brands, such as Coke, Disney, Mattel, IBM, and Dell are extending their brand presence in virtual worlds."
Early feedback suggests that not only are new markets and audiences - served, but an increasing number of people around the world are attracted to the virtual worlds. As these markets mature, Strategy Analytics expects to see some convergence of possible behaviors, and open standards that will facilitate the movement of people and property - both virtual - between worlds.
Press release contact
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Barry Gilbert |
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