The Metaverse is a term that we have increasingly seen used, especially by tech and social media giants trying to paint a picture of a bright new future. It is viewed as a tool that is going to enable connectivity to reach new heights. If your brand is engaging with the Metaverse then you’re using exponential technologies to create value for your customers at scale. But what does that actually mean and what is the Metaverse going to offer to individual businesses?
What is the Metaverse?
Definitions don’t stick that well to the Metaverse but one that is being most commonly used right now is “a virtual world where large numbers of people can gather to play, work or socialise.” This might sound to you a lot like the internet that we already have but there are some key differences. The Metaverse is kind of the internet taken to another level, one where the digital experience seeps into the real world and vice versa. Thanks to 5G and the tech that we now all have access to - as well as the hyper-acceleration of digitisation due to the pandemic - we are now in a place where the Metaverse can actually happen.
What will the Metaverse mean for your brand?
Engaging with the Metaverse is going to be a necessary next step for any brand trying to reach consumers, as it is going to change the way that we shop, communicate and socialise. Integrated technologies offer vast opportunities for connection - if a picture says a thousand words, an interactive 3D experience says 1000 images. From the sale of virtual goods and the use of non-fungible tokens to simply providing a way to connect to younger consumers in their native environments, the Metaverse is a vortex of opportunity to build your brand. These are just a few of the benefits to engaging with it:
- Stronger emotional connections with consumers
- Offering customers more interactive content (currently only 3% of content is interactive)
- Customer support in real time
- Enabling effective social shopping online
- 3D product views so that customers can try before they buy
- Digital displays that come with zero waste and endless adaptability
- Incredible virtual experiences that simply wouldn't be available in real life
How can you get started?
The key is to start looking at how you can begin to leverage underlying technologies to start creating value for your business. Working with 3D models is a great place to begin, as these are the backbone of immersive content. Game engines, getting used to using avatars and ensuring that you’re offering payment that fits seamlessly with the most cutting-edge expectations are also going to be crucial to this. All this could open the door to conversion on another level.
The Metaverse is coming at a fast pace and has a huge number of benefits to offer to any brand. Whether you choose to be an early adopter and engage with it now, or wait until the changes become inevitable, could make all the difference to how competitive your brand continues to be. To find out how Iconic Digital can help you with your social media channels, get in touch today, call us on 020 7100 0726. Find out more about our Social Media Marketing Agency in London.