The metaverse is an innovative concept that has been developing in our lives for some years now. A term popularized in 1992 by Neil Stephenson in a science-fiction book called Snow Crash, it describes the first simulation of space in which we can move around with an avatar.
Today, the way it works is relatively simple: it consists of having a virtual space connected to the Internet with the aim of sharing it with several users. And even if, in today’s society, this term remains unclear to many, it has already proved its worth to some of the world’s biggest CEOs, such as Facebook boss Marc Zuckerberg, who, in 2021, is renaming his company Meta, and also intends to focus on and develop this technology over the years.
It’s important to remember that, despite its name, the metaverse is not a single place that groups together all virtual locations. It’s more like multiple metaverses that don’t necessarily communicate directly with each other. It’s really an extension of a product’s identity, enabling an unlimited number of people to feel a sense of belonging to it while interacting with its universe.
What can be achieved within the metaverse?
As a reminder, the metaverse project is to create a link between the virtual world and the real world for a product. In the interests of the company, the cost of this new technology must be justified, and event and/or marketing strategies must be implemented to make the project profitable. It remains to be seen what activities and actions will be available to users when they enter the virtual world.
Make a profit with the metaverse
In the metaverse, the consumption method evolves and gives way to new ways of working. So there are new ways of making a profit in this virtual universe. Whether you’re selling an item or creating an advertisement, here’s a list of possible actions:
- Create your own business : the possibilities for creating a business in the metaverse are limitless. You can promote your designs or architectural talents, open an arcade or organize online events such as parties or artist showcases.
- Real estate in the metaverse: As with real estate in the real world, you can buy and sell land to organize events and set up stores.
- Advertising: It’s important to understand that there’s a real interest in the metaverse, because its marketing potential could revolutionize the world of communication. Especially for advertising and its strategies.
- Manage customer relations: communicate with your prospects and customers through a chatbot avatar
- E-commerce: One of the most beneficial elements for companies is the sale of dematerialized products in the metaverse. As the world of the metaverse is linked to that of NFT, an infinite number of products can be offered for sale.
Activities available to a user
Even for a company, it’s important to know what possibilities a user has within the metaverse. It’s by knowing what you can do that you can better develop your business and reach as many customers as possible.
- Customize your avatar: It’s totally possible for users to personalize their avatar by purchasing customization items such as clothing and accessories, in order to stand out from the crowd.
- Acquire NFTs: As the metaverse is linked to the NFT universe, you can acquire works of art and electronic objects.
- Follow courses: A user can perfectly follow online video courses in an immersive classroom with other people.
- Interacting with companies: Sales, questions, customer service, for a customer, access to customer support through a conversational agent, being able to communicate with a company via the metaverse is a chance to exchange views on the subject of your choice.
- Participating in social experiences: It’s also common for metaverse users to join together to enjoy an immersive video experience, and to indulge in a social experiment.
With these explanations, it’s easier to get an idea of all the possibilities, whether for a company or a user, in the metaverse.
The opportunities offered by the metaverse
Knowing all the activities and novelties offered by the metaverse, we can deduce thata wide range of opportunities are available to companies in this market. Thanks to the diversity of its activities and its many innovations, companies have everything they need to revolutionize their marketing strategies and create real added value while ensuring their long-term survival.
It would even be considered dangerous not to follow suit and let other companies in your market develop without following suit. Indeed, development in the metaverse would create a great competitive advantage for the latter, and the past has taught us that the first to arrive in new technologies have often been able to reap enormous benefits.
What are the benefits for companies?
As previously stated, the most important thing for a company is to become aware of its field of possibilities with the metaverse. After that, the aim is to implement a marketing strategy designed to take advantage of the opportunities offered by the metaverse. Here are just a few examples of the advantages that can be gained by venturing into the virtual world.
- Create virtual events: The ability to create events is one of the strong points of the metaverse. It’s good for organizers, as it’s much less expensive, and good for participants, as it’s highly immersive, even when you’re not at home, thanks to virtual reality. The strong point of these events is their easy accessibility.
- Employee immersion: the metaverse can enable employees to work from home in a virtual space dedicated to them. This system strengthens the company’s bond with its employees, improving their working conditions and consequently their productivity.
- Social networks/media: This takes the same principle as social networks, but in an even more immersive way. A different way of communicating than on the web. Users could use the company’s metaverse, or augmented reality, to communicate about the company.
- A new shopping experience: metavers have been an opportunity for brands for several years now, with the possibility of trying out items on the web. Why go to the store when you can use your avatar as an example? This is all the more important in the wake of the health crisis and the proliferation of online shopping.
- Immersive education: More relevant to the education sector, metavers are a revolutionary technological tool in this market. Whether for higher education, medicine or even military research, this development opportunity is not to be overlooked and will revolutionize these environments forever.
A real interest for professionals
In short, metavers and augmented reality will soon be a normality in the corporate world and in our lives. Companies using them are multiplying, and this is just the beginning. The competitive advantages they offer are far too great to ignore, and what’s more, they enable your company to evolve in a number of areas, including communication, management and events. From improving your customers’ sense of belonging, to boosting employee productivity, to developing your social networks, betting on metavers in 2022 is more than a winning choice for any company.
