Samsung will spend more than $35 million on Metaverse projects in the Latin America region
Samsung’s $35M Metaverse Deal: Recently, one of the largest electronics companies in the world, Samsung announced that it will spend more than $35M on Metaverse projects targeting customers in the Latin America region. This move comes as part of the brand’s ongoing digital push and growth marketing plan, and its primary objective is to facilitate the brand’s ability to attract and engage with younger people in the coming generations in this region.
Metaverse in Latin America
In an article published Dec. 20, Anita Caerols, director of marketing and corporate citizenship at Samsung Electronics Chile, explains the rationale behind this virtual reality foray into the company. She remarked:
At Samsung, we believe the Metaverse is a concrete commitment to connecting with young consumers. That’s why we’re investing more than $35 million in initiatives covering all of Latam.
Additionally, Caerols believes that fully immersive platforms are part of the future of marketing and that the current metaverse for digital natives is a natural extension of social media platforms, making it a meaningful area for Samsung to explore.
Samsung’s Metaverse deal
Samsung’s emphasis on the Metaverse and the amount of money invested in this area is justified by the marketing vision presented by the company. In this regard, Caerols stated:
When a business needs to speak and connect with young audiences, seek out current and future potential consumers, and connect with new influencers, it’s imperative that they’re in the metaverse now.
Generation Z and Generation Alpha audiences, who are more used to these platforms, want Samsung to be attracted to its offering and products. According to a study by LinkedIn, 400 million users currently linger on Metaverse platforms each month, 51% of whom are 13 years old or younger.
The marketing vision presented by Samsung justifies Samsung’s focus on the Metaverse and the funds invested in this area. Additionally, according to a LinkedIn study, the various Metaverse platforms currently have an active audience of 400 million monthly users, 51% of whom are 13 years old or younger.
The barriers that currently separate the virtual and real worlds will undoubtedly not exist in the world that this young generation will create in the future. However, that means there will be plenty of opportunities to build together.
Like their digital influencer SAM, who is a hub for brand and event innovation and is also the avatar representation of the spirit of the Samsung brand; their island in Fortnite called Samsung Smart City, where the company believes connecting with their customers is through gamification; and most recently House of SAM in Decentraland.
Samsung believes that organic engagement with society will increasingly become an important aspect in unifying the communication and marketing strategies of major brands.
Samsung’s interest in the virtual world is not new. However, the company has already taken steps to become part of various Metaverse platforms. The company launched its House of Sam experience in Decentraland in October. However, users can interact with the company’s products virtually. In July, Samsung also released Space Tycoon, a Roblox Metaverse experience. It allows users to be part of a space station on which they can build Samsung products from raw materials.