Four Ways The Metaverse Can Enhance Customer Experience
Metaverse is a technological concept that has gathered a lot of attention recently due to the nature of the project.
Metaverse will enable people to engage in normal social life activities in a completely digital world through Augmented Reality and Virtual Reality. Even though some metaverse projects are yet to be launched, many brands are already investing in the metaverse because they see an opportunity where they can get to their customers in new, simple and unique ways.
Some of the strategies these brands use in the metaverse are Digital twins, digital clothing, virtual real estate, avatar skins, virtual nightclubs etc, the opportunities are numerous.
Since many business platforms are investing in the metaverse to take advantage of its benefits, this article will emphasize the ways the metaverse can enhance customer experience.
Table of Contents
What Is The Metaverse?
One can imagine the metaverse to be another universe in the digital space. By juxtaposing ‘the metaverse” with “cyberspace”, you should get a clearer picture of the term because it refers to a broader engagement with technology rather than a single aspect of technology.
In the metaverse, people can work, transact, socialize, create and play. It is a network of interconnected virtual worlds geared towards real-time interaction. A user is submerged in the virtual environment using advanced visualization and technologies. This means that a user can interact with other users in a completely digital world when he wishes.
Numerous advocates of the metaverse believe that in the ideal future version of ” The Metaverse”, there would be a single platform where one could connect his persona, identity, platform services and many other accessible worlds would be developed. It would be likened to a planet with multiple sub-worlds one can create, join or leave.
The existence of a digital identity, digital ownership, digital currencies, and the universal transferability of digital assets, which depicts a functioning economy in a virtual world, are all critical aspects of the metaverse.
The metaverse might thus replace various parts of our lives like tourism, process of art collection, learning, how people connect, play games, eat in the restaurants and meet up with friends, how to enhance customer experience etc.
Also Read: Top 5 Launched And Upcoming Metaverse Crypto Projects of 2022
Four Ways The Metaverse Can Enhance Customer Experience
1. Digital Twins, Avatar Skins And D2A:
The term “digital twin” means a virtual representation of a physical object, product, or service which is updated with real-time data and helps inform decision making use of real simulations, machine learning and reasoning. With the advent of Web3 and metaverse in the picture, digital twins have expanded to include buildings, digital products, factories, cities and people in virtual worlds
Direct to the avatar(D2A) is a fast-rising business model in which products are sold directly to avatars or digital identities in virtual worlds. Some of these digital assets are sold as NFTs that users can design, trade and wear through avatars in a metaverse.
However, users can create avatars as personalized graphical representations of themselves which they use in video games and the virtual world.
Some avatars can be customised in the area of hair, body, eyes, footwear, clothes, accessories etc.
The D2A market enables brands to give their customers a unique experience in the metaverse by selling the digital twins of their products which could be sneakers, cars, clothings, and other accessories etc to their customer’s avatar, for use in many different virtual worlds.
Some more smart brands use the technique of sampling their clothing products as virtual branded goods, this gets potential customers to wear their clothing products in the metaverse which attracts them to do so in the real world.
2. Customers Own Their Data In The Metaverse:
Data in the metaverse will be more secured than data from the old social networks. Many brands are entering the metaverse as Accenture sets up resources to help clients adapt to the “Metaverse Continuum”.
Metaverse Continuum means a range of digitally enhanced worlds and business models that was created to revolutionize life and enterprise.
The evolution of the internet should inform brands and customers on how to deal with the data that has digitally accumulated over the years. Brands should know what to do with the data and also help their customers evolve.
People have been able to access the data from older social networks to reflect, but they couldn’t continue, all of a sudden.
Brands should think of ” data pastures” and integrate the plan from the onset.
Considering how much time users invest in their online personas in the metaverse worlds, brands must provide them with the opportunity to control that data throughout its lifecycle. They should also give consumers the ability to retire old personae, patterns, habits and associations with a fading sub-brand in the metaverse.
Brands are the key to making this easier for customers and it is very important because some users will continue live in the metaverse long after they are gone, by choice though.
3. Virtual Worlds Increase Customer Engagement:
Its more viable for brands to create emotional, engaging experiences in the metaverse than on any other platform.
Consumers are always hungry for engaging experiences and as a result, that experience has become the value driver in the modern world and the metaverse.
For most folks, being able to strap on a VR or AR headset to perform some tasks rather than driving to the exact location to perform such tasks, is not a bad idea.
Imagine a scenario where a customer needs to visit a bank’s website or mobile app to carry out a transaction or even meet physically with the teller to have a conversation about the transaction, he either carries out the transaction online or physically. He has to choose one option, right?
However, the metaverse is somewhere in between. It is a 3D replica of the internet and the physical world. Instead of visiting the bank’s website to carry out this transaction, the customer can put on their HoloLens, walk into a virtual bank branch and meet a virtual teller. They can have a verbal conversation as the transaction us carried out, just like it will be with a human being and still accomplish the same goal.
4. The OmniChannel Experience Extends Into The Metaverse:
The metaverse will likely change the customer experience and improve buyer engagement as well. The personalized experiences that brands have with their customers will follow them into the plethora of virtual worlds that make up the metaverse.
Metaverse will allow brands to prioritise their customers by providing personalised engagement, no matter where the engagement is taking place.
The extended reality (XR) technologies of the metaverse such as virtual reality(VR) and mixed reality(MR) will allow customers to take the reins on their buying experience from anywhere.
However, as the metaverse grows daily, brands keep learning how they can create positive, emotionally engaging experiences for customers. Even though the majority of metaverse spaces operate in a 2D space, they will be largely a virtual environment that can be accessed through VR, AR and XR devices.
Brands can also deploy various strategies in engaging customers, such as digital collectibles, access to virtual events and NFTs offered as loyalty programs.
Even though the metaverse is not completely practicable for now, real-world applications are now becoming available to consumers.
Also, brands are utilizing and investing in the metaverse by filing trademarks, designing virtual twins of their products, investing in virtual real estate etc.
There’s no doubt that the metaverse will enhance customer engagement with brands when all these arrangements are finally put in place.