A new landscape is at the forefront of our social interaction. You’ve likely heard about “the metaverse” as the future of the online experience, but the concept remains vague. In essence, it is the encapsulation of a virtual world that combines virtual reality (VR), communication alternatives, and other augmentation through the use of avatars and holographic beings. In fact, the metaverse is made up of “metaverses”, many of which already exist and are highly active, particularly in the video game circuit.
Even with a general understanding of the metaverse, as a corporate stakeholder, why should you care? The truth is that this virtual world is the future of how we will do business, and the metaverse integration of processes, advertising, technology, education, and more has already begun. For industry leaders, it’s time to start understanding how to navigate the metaverse, specifically in core production and conversion areas. That’s why the web design, development, and digital marketing experts at Americaneagle.com have laid out a succinct roadmap that businesses, marketers, and ecommerce specialists can follow to get ahead of the competition.
Ideating, Creating, and Implementing Metaverse Business Strategies
There is no question there will be inherent “metaverse companies” that rule the 3D VR immersive world with business implementation strategies. According to Bloomberg Professional Services, the metaverse market is expected to hit $783.3 billion by 2024, which would amount to a more than 13% growth since 2020. With so much expected growth, businesses will be clamoring to claim their stake, and many already are, with platform immersion in the metaverse as one of the “5 Things to Watch for in 2022.”
Businesses that come out on top in the metaverse will develop strategies that cater to the following:
- The ability for users to virtually interact with your content, products, and services without roadblocks.
- The need for easy-access entry and effective user experiences (UX) for global users.
- A modern storytelling plan that is led by state-of-the-art avatars and virtual models.
- The ability to offer a connection between virtual users, meeting spaces, events, and more.
- A clear path to conversions, particularly digital transactions.
So how do you begin your development? Follow the formula:
Once processes are in place, it’s important to evaluate data analytics and revise any area that could use refinement.
Generating Success Through Targeted Metaverse Marketing
Determining how to create a content marketing strategy for virtual reality can be daunting, but it is attainable with a bit of “outside the box” thinking. The major opportunity for metaverse marketing lies in its ability to reach uncharted territory and major companies are already taking their first steps.
- The skateboard apparel provider Vans recently created a virtual skate park for users to earn points and redeem virtual items in the metaverse Roblox, according to the Wall Street Journal. The example is one of many that others can use for their own targets, as Vans has a main demographic of 13 to 35-year-olds, many of which participate in the virtual reality platform, with over 48 million visitors to the skate park so far.
- Multinational manufacturer Nike has introduced NIKELAND for Roblox, where players engage in and even design games, along with outfitting their avatars with Nike products, according to Reuters.
Emerging non-gaming metaverses are beginning to arise, meaning numerous industries will soon have the opportunity to make a notable impact on the acquisition, engagement, and conversion of new and existing customers. This could ultimately be a game-changer for driving new revenues. In a review of the latest trends and business tactics at the conclusion of 2021, it was found that enterprise businesses are expected to see opportunities for marketing in the metaverse from sponsorships of events and concerts to process manufacturing.
Instituting a New Kind of Social Media Ecommerce
It’s time to stop thinking of business communication and sales on individual social media platforms or even single revenue generation models. Social media ecommerce will become metaverse ecommerce, encompassing combined worlds. Forbes describes this as “the combination of several technological innovations that all operate seamlessly together,” from non-fungible tokens (NFTs) to social commerce, and augmented reality (AR) and VR tools.
Methods to begin transitioning your ecommerce platforms to a metaverse reality include:
- Merging online and offline journeys into omnichannel virtual buying experiences.
- Deploying 3D shopping experiences and web applications.
- Adding personalized buying add-ons for your virtual avatar or other presence.
- Facilitating virtual community-based initiatives for interaction with other shoppers.
Many of your current ecommerce strategies are likely building blocks for connecting with users in the metaverse. Take a look at your existing processes and begin to develop alternatives for a seamless changeover.
Developing digital strategies for your business’ growth in the metaverse should be top of mind. Leverage the expertise of Americaneagle.com to professionally sculpt your ideas, from Web & Application Development to Experience Design and Digital Marketing. Our team can help you stand out in the metaverse, showcasing your industry-leading expertise in a modern setting. Learn more about what we have to offer and start your partnership by contacting us today!