What Lawyers need to know about the Metaverse

Video transcript

In this video (watch video above), we are going to talk about the effect the Metaverse will have on you and your law practice.

But first, a quick background on the Metaverse

In October 2018, Facebook (the parent company) changed its name to Meta. According to Facebook CEO Mark Zuckerberg, the rebrand symbolizes a shift in focus for the company.

Whereas before they had been “Facebook-first,” the company will now re-orient itself toward its new Metaverse.

The social media platform will still be called Facebook and won’t be affected by the rebranding.

This is similar to what Google did in 2015 when it established its parent company Alphabet.

What is the Metaverse?

Facebook describes the “Metaverse” as a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.

Basically, it is an immersive, 360-degree digital world. You will be able socialize, work, and play and as avatars.

You can walk through parks, meet friends at a coffee shop, hold meetings in boardrooms, dance in nightclubs, attend concerts with friends, and more.

If you’ve ever seen the 2018 Steven Spielberg movie Ready Player One, that might be the best visual example we currently have of what the Metaverse could look like.

How the Metaverse affects your law firm

Today, there isn’t much you need to worry about. Facebook will still operate as normal, and is still one of the best ways to reach thousands of highly targeted potential clients in your local area.

Looking down the road — as more and more people open up to the idea of virtual reality, the Metaverse can provide you a new way to reach potential clients.

Hosting live workshops or webinars

You can bring real-world presentations to virtual headsets anywhere. It removes the geographic boundaries that limit the way we currently do things. 

You could give a presentation to people across your entire state, or even across the country depending on where you’re licensed.

Just imagine everyone’s avatar sitting in a virtual meeting room all tuned in to your Elder Law or Estate Planning presentation, from the comfort of their home.

Webinars

Instead of watching a screen at home with distractions everywhere, they’ll have their headset on, joining in a digital classroom where you’re presenting at the front of the room.

Advertising in the Metaverse

The way that Facebook does now, the Metaverse is going to make the vast majority of its money on ads.

Early advertising in the Metaverse will mostly be made up of virtual reality billboards – like the ones you see on the side of the road while driving. They are easy to design and insert into the existing space.

The great thing is, Facebook won’t be abandoning its advertising algorithm. So in the Metaverse, you’ll still have the same advanced marketing abilities. You can target specific individuals within your set demographic, allowing you to spend your ad dollars wisely.

Here’s how we see the Metaverse fitting into your law firm’s marketing plan

Again, this is down the road. Maybe 5 years. Maybe less. But eventually, advertising in the Metaverse should be another tool in your tool belt.

Just like you have a social media presence, Facebook ads, a Google Business Profile, YouTube videos, a high-converting website, you can run ads in the Metaverse to reach new potential clients.

People could be virtually “walking” down the street and get a popup notification to join your Estate Planning 101 webinar.

Immersive ad experiences

Another cool feature of the Metaverse is it can be used as a new way for storytelling. Apart from traditional ads like the ones that pop up on Google, Facebook, LinkedIn, etc., you can have immersive ad experiences.

Warner Brother’s recently put together a virtual rendition of the Washington Heights neighborhood as part of their promotion for their new movie In the Heights.

How could you use this to market your practice?

I’ll preface this by saying we aren’t big fans of fear based marketing. However, we know that many of your clients to you because someone they knew had a bad experience with a nursing home, assisted living facility, probate court, etc, etc.

In the Metaverse, you could create an immersive experience showing two scenarios:

    1. A happy family that is honoring their loved one after they pass because the proper planning was done
    2. A family fighting and never speaking again because the deceased left them an estate planning mess.

Really, the possibilities are endless.

At the end of the day, the world is changing, and it is evolving. The next big thing is the virtual reality space.

That being said, today, don’t plan for any massive overhauls in your marketing. Keep an eye on things, watch and see what other people are doing. 

Of course, here at Bambiz, you can count on us to keep you informed on the latest Facebook, Metaverse, and any other marketing trends. Be sure to subscribe to our YouTube channel for the latest.

To learn more about how we can help with your Elder Law or Estate Planning firm’s marketing, schedule a free 15-minute call with us.

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