Virtual Marketing 201

Virtual Marketing 201
Vio Business Series #3

INTRODUCTION

Most owners of a virtual business or organization usually focus on marketing in the virtual world. They miss out on the opportunity to reach potential customers through real world marketing venues. Not only can real world media venues reach people who already have accounts in the virtual world. It can also help bring new people into the virtual world, which means potential expansion of the virtual marketplace. That is a good thing for everyone!

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WHY SHOULD WE REACH EXISTING VIRTUAL WORLD MEMBERS THROUGH REAL WORLD MEDIA?

Think about it... As fun as it is to spend time in the virtual world, no one is here 24/7. Many people who are enthusiasts of the virtual world read magazines and browse the Internet for virtual world information and trends.

One of the general concepts of marketing is the importance of branding. The more a customer sees a brand name, even a virtual brand name, the more credibility they associate with that brand. It is also a fair assumption that customers may attach more credibility to a (virtual) brand they see in the real world media than they do within the virtual world, especially if they still see the virtual world more as a game than a serious business marketplace.

Also, the search tools for business in the virtual world are not very sophisticated. It is not easy to find what you are looking for or to be found in virtual world searches. As more virtual world businesses create a presence on the Internet, the more customers will realize they can use Internet Search Engines to find what they are looking for in the virtual world.

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Example:

One of the leaders in virtual world scripted products in Hippo Technologies. They sell products and solutions that only exist in the virtual world. Vio uses their rental box solutions and billboards, because they are a trusted name and their products are very good. We found out about them through a RL web site, SLExchange.com, and saw that they had a decent RL web site and was found easily in the search engines. They also had a good community presence in real world blogs. Because of this real world branding, I see them as being more reputable than another company with no real world presence that may provide the same services.

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To recap this section, what virtual business owners achieve through the real world media is:

1) Improved branding to existing virtual world members
2) Access to more sophisticated and accurate searching available on Internet search engines

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WHY SHOULD WE TRY REACH VIRTUAL WORLD NON-MEMBERS THROUGH REAL WORLD MEDIA?

The marketplace in the virtual world is relatively small. In Second Life, there may be 30,000-40,000 people who spend any significant time in-world, and of that group, perhaps less than 25% bring their RL money into the virtual world to spend. The biggest benefit of marketing and branding through RL media is to add momentum and visibility of the virtual world to the general public. There was a huge influx of new members into Second Life around November 2007 - January 2008 when there was a flood of news stories in the media about the virtual world. The reason people are making money today in the virtual world owes a lot to that "rush" of new members signing up to find out about what they were hearing.

Getting your brand and virtual company seen by people in the real world also helps change people's perceptions of the virtual world. In the early days of the Internet, most people saw the Internet as a place for entertainment and porn. They did not see it as a serious marketplace for business. It took some time and a lot of businesses who were pioneers to start changing that perception.

The virtual world is seen by a majority of the general public as a place for games and sex. The virtual business community has grown considerably, but the perceptions have not changed accordingly. It is up to the virtual business community to make the effort to change the public perception by communicating in the real world what is available in the virtual world. There are enough resources available for every budget to accomplish this goal.

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REAL WORLD MARKETING RESOURCES

Here are some examples of Real World Marketing Resources:

INTERNET
1) Web Sites: Every SL business should have a web site, so they can be easily found in real world search engines. One should also search for web sites that provide content about the virtual world. On these sites, one can try to have links to thier web site or perhaps banners. One excellent web site for the SL marketplace is SLExchange.com. Another good web site about SL businesses is www.OneTreeFrog.com, owned by Slatestone McCall, a member of VIO Business. If you can get your virtual business in the SecondLife.com web site by mention or product placement, that will also have a huge impact on your virtual business.
2) Blogs: Blogs are a popular and free resource. You can find popular blogs to be mentioned on, or you can create your own blogs in a matter of minutes, with no costs to you. Content on blogs is searchable in real life search engines as well. One popular blog is RLSL.org (German) owned by Vio Business member Peach Asbrink. Others include: virtualworld.blogspot.com, blogs.cisco.com/virtualworlds, and http://virtualeconomicforum.com/content-library/blogging. These blogs are looking for content to stay fresh, so contact them.
3) Internet Radio: Get your message heard on a fast-growing and important media. One such Internet (and SL-streamed) radio nework is WJN Radio Network owned by SmoothHcw.
4) Publications and TV: To get stories published about your virtual business, or virtual solution, write a press release about how it applies to people in the real world. You can send press releases to the news wire for free, but be prepared to spend about $80 per release to have them also included in the search engines. PRweb.com is the online news wire of choice for Vio Business.

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SUMMARY

Marketing virtual business in the real world media provides great opportunity, but the virtual business community is not taking advantage of these benefits. Also, the virtual marketplace is hurting when the perception of the general public is not accurate about what is available in the virtual world. It is up to the virtual business community to educate themselves and get the world out to the real world as to what they offer. Only when we apply a serious business mentality to our virtual business can we expect the rest of the world to see our business as a serious opportunity.

The community needs to spend the time and capital if they are to make an impact. Successful businesses, including virtual, typically set aside a budget for their branding strategy, which is a part of the marketing campaign. Successful businesses typically spend 15-40 percent of their revenues on their marketing campaigns. There are plenty of free and cost-effective media outlets to use, so there are plenty of options for every budget.

When agreeing to use a real world marketing resource, get all of the details up front and get an agreement in writing. If you experience any disputes, use an attorney or mediator in the real world.

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BACKGROUND

About The Speaker: Xander Newman has owned Virtual Innovative Opportunities (VIO) since April 2007, a virtual business community and incubator in Second Life. His expertise is bringing together businesses and resources in SL and RL. In the real world, Xander Newman has been an expert with Internet technologies since 1995, owning his own Internet development and SEO company. He also has a Bachelor's degree in Advertising from the University of Texas. Xander is trained in creating organizations and team-building, and by combining all of his skill set, he has been able to:

1) Co-found a publically-trading Internet auction company
2) Create two non-profit organizations, including the largest volunteer organization serving the needs of Hurricane Katrina survivors.
3) Create a documentary film
4) Become an advocate for the indigenous (tribal) people of the world, speaking in front of world leaders at the United Nations in May 2004.
5) Co-founded a business consortium bringing companies to China for joint venture projects.

In his view, the secret to his successes in life come from making his goals about the benefit of others, and surrounding himself with a variety of talent and expertise.

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For more information on this topic, feel free to contact Xander Newman or any of the Vio Team.

Xander Newman
Alexi Mizin
Kalvin jefferson
Slatestone McCall

©Copyright 2008 Virtual Innovative Opportunities. All rights reserved.