The metaverse is a concept that is gaining more and more attention in today’s digital world. Some believe that the value of the metaverse will be soon to reach the trillions, and experts believe the landscape will be the new frontier of digital transformation. It’s no wonder brands want to get involved.
However, the metaverse is not a one-size-fits-all technology that you can buy and implement into your business roadmap. It’s not something you can “own” in the same way as a VR headset or a set of AR smart glasses. This makes finding a vendor to help you navigate, mine, and understand the metaverse market particularly complex.
If you want to make sure you’re ready to unleash the potential of the metaverse while continuing to innovate and transform your business, here’s what you need to do.
Search the Metaverse
Similar to any disruptive technology, the Metaverse requires careful planning and research. There are still a number of companies in the world today that do not fully understand what it means to be involved in the “metaverse”. An even larger number of companies believe that investing in the Metaverse simply means buying a VR headset.
The first thing you need to know is that the Metaverse is not a one-time technology or business investment. As Mark Zuckerberg (Meta) defines it, the metaverse is an Internet incarnate – an immersive digital experience designed to strengthen the connection between the real and physical worlds.
Researching the metaverse will give you insight into what you can realistically do to bring your business closer to this environment.
For example, you can leverage aspects of the metaverse like virtual reality to create communities for students and design more immersive educational experiences.
You can use decentralization and blockchain to improve the way users manage their digital identities in the financial world and unlock new investment methods.
Know Your Metaverse Innovators
Once you have a better understanding of the metaverse, you can start exploring how companies are engaging with the landscape. Perhaps one of the most obvious companies to look at is “Meta”, formerly Facebook – the brand that helped start the conversation about what the metaverse could mean in recent years.
However, there are countless other companies making their own mark in the metaverse today, from blockchain company Cambridge to Microsoft with its Mesh technology and HoloLens headsets.
If you’re not sure where to start on your Metaverse adventures, events and conferences can be a great way to get a taste of what different brands are thinking about the Metaverse.
Expos like the Global Metaverse Conference or the Web3 Conference provide insight into where various brands are investing in a future of metaverse-related concepts like blockchain, artificial intelligence, and the internet of everything.
Focus on problem solving
Because the metaverse is not a single technology, companies need to take a more targeted and refined approach to ensure they are investing in the right ecosystems. The best way to start is to follow the same practices you would use when installing any new technology in your ecosystem.
Start by thinking about the most important problems in your business that you want to solve. For example, you might want to improve the customer experience and increase your consumers’ satisfaction scores.
If your goal is to boost CX, you can start looking into metaverse concepts that will help you solve specific service issues.
If your customers are concerned about the security and transparency of your interactions, you might consider implementing blockchain and smart contracts.
If your customers want a more immersive way to experience your technology, without having to interact with salespeople in person, you can create a virtual environment where people can test out the digital twins of your tools in an online space.
Look for a supplier with specific expertise
Deciding on the specific issues you want to solve will help you determine the types of metaverse vendors you should work with.
For example, are you looking for a company to help you leverage virtual reality for training and customer support purposes? If so, you can start looking for a vendor that specializes in headsets or software designed for the industry you work in.
Finding a vendor with an in-depth understanding of your industry, as well as the technology you want to leverage, will help you circumvent some of the biggest issues associated with digital transformation.
For example, many companies investing in metaverse technology in the future will need to think about how they will maintain data security and privacy in a digitized world.
It’s also worth looking for a vendor that has a clear vision for the Metaverse and an understanding of how their technology fits into the larger concept of the Metaverse as a whole. Vendors with an overview of the Metaverse are more likely to develop technology that focuses on openness and flexibility – crucial concepts in the Metaverse.
Experiment and Explore
Finally, when it comes to investing in something as new and fresh as the Metaverse, one of the best things you can do is test the technology yourself.
The only way to get a real sense of how things like digital workplaces and blockchains will benefit your business is to experiment with the technology and take notes on what you discover.
For most companies, the transition to a metaverse-driven future will not be an overnight evolution, but a slow and steady journey.
It can start with something as simple as investing in a few VR headsets for your team members, so they can interact more effectively in a hybrid workplace, and scale to the point of creating connected ecosystems. of people, processes and objects.
Through experimentation, you can continuously collect data, feedback, and ideas to guide your future investments and improve your vision.