Why are Global Leaders headed towards the Metaverse?
Metaverse empowers businesses to create immersive, three-dimensional, virtual worlds, with live brand interactions using real-time text & voice chats, and avatar creation to penetrate deeper into the market via desktops, laptops, smartphones and VR.
By adopting the metaverse, businesses can deliver unique, immersive and can propel a more personalized and consumer-centric experience for customers, but the following reasons make Metaverse a necessity:
By adopting the metaverse, businesses can deliver unique, immersive and can propel a more personalized and consumer-centric experience for customers, but the following reasons make Metaverse a necessity:
- To Target the GenZ
- To Become an Aspirational Brand
- The Utilize A.I. for Faster & Deeper Market Penetration
What are Global Leaders achieving from the Metaverse?
Training and L&D
Metaverse has enough potential to be an exceptional tool for training, effective learning, building interpersonal skills and improving interactions. HRs can use the metaverse to build immersive 3D training modules that help employees learn new skills, gauge their progress, and performance, build rapport with management, and accomplish goals. Along with this, cross-skilling by experts & digital coaches, engaging in group simulations and social interactions using 3D Avatars can also be enabled.
According to the PwC 2022 US Metaverse Survey, 51% of companies in the US are either in the process of integrating VR into training or have already built one. 34% say that one of the biggest metaverse benefits they currently enjoy or foresee is “a more effective way to develop and train our people.” In fact, according to the report, training over Metaverse, especially using VR has resulted in 4X faster results.
Employee Onboarding
With the growing work-from-home and hybrid work culture all over the globe, businesses, especially HR departments feel disconnected from their employees. The void expands even more when the HRs have to onboard a new set of candidates into the workstream. Since Metaverse excels in building personalized relations and delivering personalized experiences, it can fill that gap between HR and employees.
When candidates find an aspirational organization, they stick to it, resulting in improved loyalty and reduced attrition. This is especially true in the case of GenZs who are constantly searching for attractive and trending work prospects. Imagine every new joiner being welcomed by a 3D avatar of the CEO, an interactive structure that explains the workflow between the departments and the teams. With Metaverse, HR can not only engage them with a 3D virtual workplace but also access them and their understanding of the organization with interactive games, Q&A, quizzes, etc.
When candidates find an aspirational organization, they stick to it, resulting in improved loyalty and reduced attrition. This is especially true in the case of GenZs who are constantly searching for attractive and trending work prospects. Imagine every new joiner being welcomed by a 3D avatar of the CEO, an interactive structure that explains the workflow between the departments and the teams. With Metaverse, HR can not only engage them with a 3D virtual workplace but also access them and their understanding of the organization with interactive games, Q&A, quizzes, etc.
Personalized Shopping Experiences
Traditional shopping experiences are taking a futuristic turn thanks to the metaverse. Imagine walking through a virtual mall, trying on clothes, and testing products, all without setting foot outside your home. Major brands like Nike and Adidas have already set up virtual boutiques, allowing customers to explore their products using avatars. In the luxury fashion brand segment, Louis Vuitton’s Louis the Game, Gucci’s Garden & Burberry with its NFT collections have set up their Metaverses and NFT to strike their audience with a more premium experience, specialised response and rare collectables to offer them a more privileged stature. This interactive and personalized approach is revolutionizing the way consumers shop.
Gamifying Brand Experiences
Gamification has proven to be an engaging strategy, and brands are taking it to the metaverse. Nikeland, an innovative concept by Nike, has attracted over 21 million visitors, leading to increased revenue and brand awareness. Brands are venturing into creating their own metaverse-based video games, where users can earn rewards, trade collectables, and even earn real money.
Events and Expos
The metaverse has also transformed the event landscape. Warner Bros., for instance, introduced a virtual block party for the movie “In the Heights,” providing a unique pre-launch experience. Similarly, Gucci created an immersive exhibition for its 100th anniversary, Prada launched its NFT collection in a specialized event, and Adidas brought its “Into the Metaverse” Metaverse world that allows attendees to connect, interact, play, engage and even shop in the world of Adidas, where often concerts of popular stars are hosted. Basically, socialization is key, and McDonald’s has demonstrated this by entering the metaverse with a virtual restaurant.
Art Galleries and Product Showcase
This is one area where the metaverse is expected to create wonders in the next few years. Creating exquisite, high-quality realistic 3D impressions of real objects and turning them into NFTs, is where brands are gaining huge potential. Brands like Sotheby’s and H&M have introduced metaverse galleries and digital showrooms respectively, redefining how art and fashion are presented and experienced. Also, an Indian Brand, NFJ Labs, in September 2022, launched the “World’s First NFT-based Jewellery Gallery” at the Vicenzaoro Fashion Event, Paris, on the ibentos Metaverse Platform.
Community Building
While brand building is a great prospect in Metaverse, there’s another prospect where Metaverse can break a great deal and that is community building. Metaverse is a universe on its own which takes socialization to a whole new level. People of similar choices, preferences, interests, domains, regions or any other reason, can connect over and interact in meaningful conversations from anywhere in the world. Choose how they look, dress how they always wished to and express themselves among their gang and like-minded people, and build a community of their own. Businesses can help in building such communities. Famous liquor brand Blenders Pride recently hosted a fashion show, where community building was highly promoted, and attendees connected with like-minded people to share their thoughts, ideas, stories and laughs.
Accessibility for All Brands
While some might perceive the metaverse as a realm for giants, with new, improved and simpler platforms like Spatial and ibentos coming up, affordable customized spaces and templates are available, allowing small and medium businesses to dip their toes into the metaverse and world of Web3 and engage customers in innovative ways.
Embrace the Metaverse
The metaverse goes beyond mere buzz; it’s a transformative technology moulding the future of business interactions. Brands that grasp its potential enjoy immersive, engaging, and tailored experiences, reaping the rewards. As this landscape evolves, the metaverse bridges the gap between physical and digital realms. Pioneers like H&M and Hyundai exemplify innovative growth by embracing the metaverse. In a recent talk, H&M Group’s CTO Alan Boehme seemed optimistic, explaining that “Moving towards the future, H&M Group will continue to explore the field of virtual fashion, as another way to meet our customers when, how and where they are”. With larger brands stuffing money into the Metaverse sector, it becomes even more grab-worthy for businesses and most importantly, a need of the hour. Metaverse is now more than a gimmick but a must-have tool to stay relevant.
Now with brands like ibentos coming up, venturing into the metaverse for small and medium businesses is like a cakewalk. Capitalizing on its No-Code and Low-Cost Metaverse Platform with FREE Virtual Land, ibentos promises businesses to land on the Metaverse in just a few minutes. And that’s not all, the ibentos Metaverse Platform is more than virtual—it’s an expansive arena for businesses to elevate engagement, enrich customer experiences, and achieve unprecedented growth. With immersive features, gamified interactions, and dynamic events, the ibentos metaverse reshapes how brands connect. From personalized shopping to virtual events, training simulations to product showcases, the ibentos metaverse is a crucial tool for every brand’s toolkit. Ready to dive in and shape your brand’s future in the metaverse? Connect with us for FREE Demo & Consultation on your personalized Metaverse Plan.
Experience business transformation in a different world of breathtaking immersive brand experiences at www.megaspace.ai