Goldman Sachs refers to the metaverse as an “$8 trillion market opportunity”. Citi Group is as bullish as Goldman Sachs on metaverse prospects saying that the metaverse markets will grow to an $8 to $13 trillion opportunity by the end of the decade.
This massive growth presents the retail sector businesses with an enormous opportunity. As per Accenture’s ‘Meet Me in the Metaverse’ report, the metaverse is a continuum that will span the spectrum of business models, enhanced realities, and virtual worlds.
It will profoundly influence all business aspects, especially how they interact with consumers. As per the Irish professional services company, the metaverse’s main trends include WebMe, Programmable Worlds, The Unreal, and Computing the Impossible protocols.
WebMe reimagines the internet, allowing data to shape virtual human experiences profoundly. As a result, WebMe protocols can help your business connect with its consumers in novel ways. Likewise, the Programmable World protocol elegantly intertwines technology with the physical world.
The Unreal trend, on the other hand, creates passably human machines through AI, while Computing the Impossible will build high-performance computers that tackle challenges previously thought of as impossible.
As per Accenture, the influence of the WebMe trend will push the global digital transformation sector to a $1.25 trillion market by 2026. It will introduce a human-centric shift to e-commerce, delivering superior customer experiences through customer-centric marketing, individualization, and messaging.
WebMe places the ‘me’ in the metaverse and, by 2031, could generate a new category of workers that spend 100% of their work time in metaverse workspaces. To this end, businesses need to reimagine their business’s entire online footprint to make their customer experience journeys compatible with the WebMe and Web 3.0 trends.
This action will support the delivery of assistive, relevant, and personalized customer experience that enhances customer journeys on a real-time basis. WebMe initiatives will create an immersive customer experience that fully engages your customers.
Data shows that the human brain stores 70% more data when learning via augmented reality. Businesses, therefore, can create impactful customer experience strategies using metaverse technology and enjoy more returns on investment.
AR and VR can, for instance, support the placement of virtual items in living spaces and match customer preferences before purchase. A clothing or shoe brand, on the other hand, could set up a virtual store complete with changing rooms that allow digital avatars to test out outfits that match various body types before purchase.
Below are ways your business can provide a seamless customer experience across Metaverse.
Develop metaverse skills in your brand
Create a coherent customer experience strategy for the metaverse by first understanding how virtual worlds operate. Then, develop real-time content incorporating augmented, virtual, and mixed reality technology digital-based customer journeys.
Embrace identity personalization
Create opportunities for out-of-the-box development of personalized avatars amongst departments, employees, and customers.
Create partnerships with metaverse brands
Roblox, Fortnite, Sandbox, and Decentraland have become the most rational business entry points to the metaverse ecosystem. Businesses can build partnerships that bring them up to speed on new technologies. Use these partnerships to test the waters through lower-risk applications such as selling digital twins of physical items or virtual tours.
To illustrate this point, In 2021, PUBG Mobile, in partnership with Tesla, introduced the Tesla Model Y experience to its gaming network. Such collaborations are an excellent and fun way to introduce new products to a niche market.
Design your metaverse customer journey
Curate your metaverse content ideas and build a metaverse customer journey strategy. Match your metaverse strategy to your customer’s identity, the problems your products or services seek to solve, and customer journey touchpoints. Ensure that your customer experience strategy is human-centric, honest, and transparent, then test and iterate.
Conclusion
The metaverse allows marketers to access and interact with customer data in real-time. Savvy retention marketers can build smart customer experience strategies, content, and user personas using consumer real-time demographic data.
More so, the metaverse can help unlock more value from customer journeys through hyper-personalization and segmentation of customer experiences. Marketers can provide helpful solutions to customers by fusing data analytics with empathy, humanity, and individualized engagement.