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The metaverse is going to play a large role in the future of business and marketing. However, the specific ways it will change these industries are yet to be seen as it’s still in the early stages of development.
You don’t need to wait for this virtual 3D world to appear in its complete form to use it to benefit your business. There are ways you can use the metaverse in business and its supporting technology to connect to consumers, sell products, and network with other companies.
Explore five ways to use the metaverse to grow your business and reach more of your audience today.
The metaverse is a parallel virtual world that builds on our real-world using technology like virtual reality and augmented reality. It offers users a new way to experience entertainment, gain information, connect to others, and purchase products.
Brands can also benefit from the new opportunities available in and through the metaverse. Here are three benefits you will see if you incorporate the metaverse and its technology in your business.
Customer experience is the top priority for nearly half of all brands going into 2022. Customers are more loyal to your brand if they have a positive experience, and 86% of customers are even willing to spend more in exchange for a great customer experience.
A positive customer experience includes:
The metaverse will let you connect with customers more personally through an immersive environment. It also offers interactive options for customers who want to find their own resources. Additionally, you can use AI to provide faster and more proactive services.
Interacting through the metaverse will also generate more data you can use to customize experiences and optimize your marketing strategies. In addition, you can share product information with your customers as they interact with virtual or augmented reality products to provide more transparency within your brand and help them through the sales journey.
If you use the same marketing strategies you have in the past, you will get the same results. However, if you want to see growth and reach new markets, you must update your social media marketing strategy using the latest technology and trends. The metaverse opens a new world of marketing opportunities by offering a virtual world of connection and interaction ideal for marketing.
The following marketing statistics show how society is moving towards a connected digital world and the marketing opportunities that will arise to meet the new demand:
Prepare your social media to enter the metaverse and provide a more immersive online shopping experience and brand connectivity.
About 86% of customers prefer to do business with authentic brands. The metaverse can help you create an authentic brand with transparency, trust, and support from those outside of your brand. Social media has also helped many brands build on these three elements by giving consumers inside looks at their brands and products.
The metaverse will open even more opportunities for giving customers insights into your company, what you stand for, and how your products are made. These insights will improve your sales as 71% of customers will shop with brands that align with their personal values.
How can you see those benefits today?
The following five strategies will help improve your marketing and sales by tapping into the metaverse and its emerging technologies in preparation for its full arrival.
If you want to be part of the available metaverse platforms, you can collaborate with some big names. The five most popular metaverse examples and developers include:
You can generate income by building a virtual store and selling virtual products on a platform. One example of a brand operating on the metaverse includes Gucci. They purchased digital land on The Sandbox and plan to build an immersive store for shoppers. They also sold NFTs like collectibles designed off real products that a consumer’s avatar uses or displays.
Another way to use metaverse platforms is by collaborating to host virtual events, which are an opportunity to market products or network with other businesses. Virtual events have already seen great success, like fashion shows or the concerts held by Ariana Grande, Travis Scott, and Marshmello.
Consider connecting to the metaverse through a social media influencer. Some brands will create a virtual influencer specifically for the metaverse, while others will connect with real influencers who are tapping into this new opportunity as a way to expand their reach further.
You can start building a framework for entering into the metaverse by incorporating metaverse technology in your marketing today. For example, using virtual reality (VR), augmented reality (AR), and mixed reality (MR) in your brand will provide an easier transition to a fully immersive digital world.
Augmented reality lets you connect physical items to digital information. For instance, AR food packaging is growing increasingly popular as it allows users to interact with products through their smartphones, play games, pull up nutritional information, and watch recipe videos.
While there’s no Amazon metaverse, they still use metaverse technology to improve their service. For example, Amazon’s AR allows customers to place virtual furniture in their homes before purchasing.
You can also use metaverse VR technology to create an entirely virtual experience for consumers. For instance, 3D models of products let consumers zoom in and out on the item and interact with it to see how it works.
The metaverse is an opportunity to build a greater community since it connects people from across states or countries. On the metaverse, people will live in a land without borders and can create communities based on mutual interests rather than location.
How is your brand fostering a sense of community and connectivity?
You can prepare for the metaverse by rebranding your business to embody community and connection. The new metaverse technologies that you will see over the next few years will build on that sense of connection and help you expand your company culture further.
Some ways to build community are involving your customers in your brand, holding events that bring people together, and marketing to specific locations or groups to relate to people within pre-established communities.
Creating easy ways to communicate with your brand and others will also be essential in building a brand of connectivity and community. Accepting feedback, communicating through social media chat, and sharing multiple means of contact are all effective ways to encourage feedback.
The first big technology transition was from desktop computers to mobile devices. Today 58% of purchases are through a mobile device. Now the user experience will shift to the metaverse. However, you won’t be ready for this shift unless you have already made the previous move to being a mobile-friendly company.
Some ways you can improve your mobile accessibility are through:
You might also consider having mobile-friendly options within your physical store. For instance, Target lets you build a registry, check prices, and examine products by scanning barcodes with their app. You can also share information through QR codes and allow customers to use touch-free paying methods like Apple Pay.
Since the pandemic, many businesses are reexamining their work models. In 2021, 70% of companies planned to use hybrid business models that combines remote with in-office work. Workers are also eager to keep flexible work options as 97% of workers expressed interest in working in either a full-time or hybrid remote position.
Some images of the future metaverse show conference rooms with employee avatars holding meetings like they would in an in-office setting. While this is not mainstream yet, the metaverse and its associated technology are opening doors to a seamless virtual work environment.
To build a hybrid or fully remote office, you will need:
You can also use VR and AR to remotely train employees in real-life situations, which will better equip them for handling customers, products, and daily tasks.
Having a positive work environment will help you add value to your customers because your workers are more productive, have better training, and have a more positive attitude while performing their job.
The metaverse is coming, though we don’t know when. If you only focus on the future, you may lose opportunities available right now. The best way to prepare for the metaverse is by building a strong brand in the current market. Your trusted brand will naturally flow over to the metaverse if you already hold a loyal following.
Contact us to help you build that loyal following that will come with you to the metaverse.