The metaverse is an innovative concept that has been developing in our lives for several years now. 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 with an avatar.
Today, its operation is relatively simple, it consists in having a virtual space connected to the Internet in order to share it with several users. And even if currently, in our society, this term remains vague for many people, it has already has proven itself with the most important CEOs of the planet such as Marc Zuckerberg, boss of Facebook, who in 2021 renames his company Meta, and also intends to focus and develop this technology over the years.
It is important to remember that despite its name, the metaverse is not a single place that groups all virtual places. It would be more like multiple metaverses that do not necessarily communicate directly with each other. It is truly an extension of a product’s identity, allowing an unlimited number of people to feel a sense of belonging with it while interacting with its world.
What can be achieved within the metaverse?
As a reminder, the project of the metaverse is to create a link between the virtual world and the real world regarding a product. For the company’s interest, it is necessary to justify the cost of this new technology, and therefore to carry out event and/or marketing strategies to make the project profitable. It remains to be seen what activities and actions will be available to users when they enter it.
Making a profit with the metaverse
In the metaverse, the method of consumption evolves and gives way to new ways of functioning. So there are new ways to make profit in this virtual world. Sale of objects or creation of publicity, here is a list of possible actions:
- Create your own business: the possibilities of creating a business in the metaverse are unlimited, promote your designs, your architectural talents, open a game room, 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 hold events and create stores.
- Advertising: It is important to understand that the metaverse is of real interest because the potential of marketing with it 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
- Doing e-commerce: One of the most beneficial elements for companies remains the sale of dematerialized products in the metaverse. Since the world of the metaverse is connected to the world of NFTs, an infinite number of products can be offered for sale.
Activities available to a user
Even for a company, it is important to know what the possibilities are for a user within the metaverse. It is by having knowledge of the possible activities that one can better develop and reach as many clients as possible.
- Customize your avatar: It is totally possible for a user to customize his avatar by buying customization items such as clothes and accessories, in order to stand out.
- Acquire NFTs: Since the metaverse is linked to the NFT universe, you can acquire artworks and electronic objects.
- Follow courses: A user can perfectly follow online video courses in an immersive classroom with other people.
- Interactions 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 an opportunity that offers him the possibility to exchange on the subject of his choice.
- Participation in social experiences: It is also common for metaverse users to join together to enjoy an immersive, video-based experience.
With these explanations it is easier to get an idea of all the possibilities, whether for a company or for a user, in the metaverse.
The opportunities offered by the metaverse
Knowing all the activities and novelties that the metaverse offers, we can deduce that there isa wide range of opportunities for companies in this market. With its diversity of activities and its many innovations, companies have everything they need to revolutionize their marketing strategies and create real added value while ensuring their sustainability.
It would even be considered dangerous not to follow the trend and let other companies in its 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 arrivals in new technologies have often been able to benefit enormously.
What are the benefits for companies?
As stated before, the most important thing for a company is to become aware of its field of possibilities with the metaverse. Following this, the goal is to implement a marketing strategy to take advantage of the opportunities of the metaverse. Here are some examples of the advantages that can be created by a company entering the virtual world.
- Create virtual events: The ability to create events is one of the strengths of the metaverse. Positive point for the organizers because much less expensive, and advantageous for the participants because very immersive without even moving from home thanks to virtual reality. The strong point of these events is the ease of access to them.
- Employee immersion: The metaverse can offer employees the opportunity to work from home in a virtual space dedicated to them. This system strengthens the company’s link with its employees and improves their working conditions and therefore their productivity.
- Social networks/media: This follows the same principle as social networks but in an even more immersive way. A different way to communicate on the web. Users could go through the company’s metaverse, augmented reality to communicate about it.
- New shopping experience: The metaverse has been an opportunity for brands for several years, with the possibility to try 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 following the health crisis and the multiplication of online purchases.
- Immersive education: More related to the education sector, the metaverse is a revolutionary technology in this market. Whether it is for higher education, medicine or even military research, this development opportunity is not to be overlooked and will forever revolutionize these environments.
A real interest for professionals
In short, metaverse and augmented reality will soon be a normality in the corporate world and in our lives. The companies that use it are multiplying and this is only the beginning. The competitive advantages that they offer are much too important to ignore, moreover, they allow your company to evolve on many points notably that of the communication, the management and the event management. Between improving the feeling of belonging of its customers, the evolution of its employees’ productivity or the development of its social networks, betting on metavers in 2022 is a more than winning choice for a company.
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