"Metaverse" is a term everyone is talking about these days. Whether it's your grandma who has just got on Facebook or your business partner, the next office - Metaverse is on everyone's tongue. But what exactly is Metaverse?
The Metaverse is a shared online space, a merger between virtual and real environments. It allows users to walk, talk and visualize themselves within a three-dimensional environment.
Is the Metaverse a real opportunity for my business? You can test it by creating a proof of concept in the first step and then a prototype/MVP afterwords. In other words, use a VR device and see things changing in front of your eyes.
A few important questions arise now: How exactly is Metaverse important for a business? Is it possible to get a metaverse business? If yes, then how?
Do you have the same questions in mind? In today's blog, we'll learn the importance of Metaverse for a business. In addition, we'll also understand how to move your business into the Metaverse the right way. Let's dive straight into our first topic!
Importance Of Metaverse For Businesses In Today's World
The current internet offers many opportunities for companies. They can set up a website, advertise, and reach their (potential) customers online. The Metaverse may offer similar possibilities. Many companies have already established themselves on the Metaverse. Now they are on the verge of expanding.
JPMorgan Chase & Co. talked about the incredible potential of the metaverse business in a report and opened the first bank in Decentraland. Other companies, including Disney, Nike, Walmart, and Samsung, have already ventured into the digital world. Especially for companies that want to create an experience around their brand, the Metaverse is extra interesting.
The possibilities of the Metaverse go beyond marketing applications. For example, you can open a digital store in the Metaverse and sell digital products there. You can buy virtual fashion items to give your avatar a new pair of shoes or a virtual haircut. The so-called NFTs will probably play an important role in this.
How To Get Your Business Into The Metaverse?
Now that we have understood the importance of the Metaverse for businesses, it's time to understand its implementation. How can you get your business into the Metaverse? Let's find out!
Choose The Right Metaverse Platform
The first step in getting into the Metaverse is finding the right platform. Today, a wide range of platforms are considered various versions of the Metaverse.
These platforms or digital worlds focus on multiple areas, such as real estate, non-fungible tokens (NFTs), gaming, etc. One highly popular platform is Roblox, with more than 49 million active users today.
Roblox focuses primarily on a younger target audience. It allows users to engage in various entertainment and gaming events, such as music concerts. Roblox has the same model that made Fortnite so successful. You can explore a lot about its proof of concept on the internet.
Coming to the point, if you plan to target a considerably young audience via platforms like Roblox, then you have to focus on creativity, authenticity, and entertainment as your primary selling points.
Boost And Optimize Your Brand's Online Presence
Most brands already have their online presence established today - via product selling platforms, social media accounts, or websites. Before exploring the Metaverse for business opportunities, it's ideal for re-evaluating your brand's current online presence and branding strategies.
Ensure that your business has a strong presence on the web. Also, it would be helpful if you learned the basics of today's online market. For example, if you plan to build a shoe business, you must build an engaging and high-quality website. Along with your brand's website, you must put effort into growing your company's social media presence.
Sustaining an online presence isn't just important but necessary to eliminate the risk of losing customers due to the frustration of not finding the data they need. Moreover, ensure that whatever information you post on your website or social media is up-to-date.
Experiment With VR And AR Technologies
When it comes to upscaling your business, it could mean developing or using virtual reality and augmented reality tools. Metaverse sits between the crossing point between AI, AR, and AI technologies. Therefore, you should clearly know how to use them before shifting your business into a world that is all about them.
To get started with these technologies, start experimenting with your VR headsets. In addition, try our other metaverse technologies to kickstart your brand's metaverse journey. With VR technology, you can feel what shifting your business into the Metaverse might look like.
There are so many popular brands that have already started their side of experiments with AR/VR technologies. Zara is the best example. It has held a successful campaign, allowing users to use their AR app to buy Zara products in the Metaverse. Every business around you is getting started with AR/VR experimentation. It's time for you to do the same. Believe us; it will help you a lot when moving your brand into the Metaverse.
Focus on Your Target Audience
The next important step in shifting your business into the Metaverse is determining the right audience. If your target audience is right, you don't have to put so much effort into selling your services and products. They will sell themselves. It is the power of targeting the right audience.
You should not focus on getting everyone's attention towards your business in the Metaverse. Instead, your focus should be on fulfilling the desires and needs of your potential customers in the real world. They might be shopping for your product in the Metaverse, but they won't use it there. Your product's quality and its usefulness to your customers in real-life matters.
The future is the Metaverse, and it's pretty clear by now. More and more businesses are establishing their presence on the Metaverse. It's high time, and you should start moving your brand to this virtual space. Before getting started with it, of course, make sure to take the above information into account. They will help you shift into the Metaverse in the best possible way.