Customer Experiences in Branded Metaverse Events: Effects on Brand Equity

Abstract

This article examines how customer experiences in branded metaverse events influence brand equity through a two-step approach. In Study 1, the authors analyze textual data (N = 13,481) from event participants using topic modeling, revealing five key themes: community, utilitarian digital asset commerce, participation and socializing, hedonic gaming, and information. Next, the authors conducted two quantitative surveys to assess how these experiences impact brand awareness, associations, perceived quality, and loyalty. Study 2 provided preliminary insights to refine the research design for Study 3, which included a larger sample for a more robust and nuanced analysis. Study 3 introduced additional variables, such as brand attitude and purchase intention, and conducted multigroup analyses based on brand categories (hedonic vs. utilitarian), and industries. The findings highlight that while most metaverse experiences positively influence brand equity, utilitarian digital asset commerce doesn’t impact brand awareness or brand associations. Participation and socializing fail to impact perceived quality and loyalty, and hedonic gaming doesn’t boost loyalty. Results also vary by brand characteristics. These insights are crucial for marketers seeking to tailor metaverse event strategies, leveraging immersive virtual environments to strengthen brand equity effectively.