Back to the Future, Part II:
Getting ready to fly in the metaverse

The metaverse promises the innovation, engagement, and experience that buyers dream of. In my previous article, we touched on what the future of B2B might look like in the metaverse. Now we're going to take a deeper dive on what’s next for brands looking to explore their options virtually.

Blurring the line between our physical and digital worlds can absolutely enhance the B2B customer experience. And you don’t need to wait to deliver exclusive experiences and stand-out interactions

Building your B2B brand in the metaverse and developing deeper connections with buyers can start with small steps, soon. Let’s look at:

• Who’s making in-roads in the metaverse and why now
• Short-term considerations, immediate opportunities 
• How B2B brands can start to get involved in the metaverse conversation
  

What is the metaverse?

Not one single entity but a range of Virtual (VR), Augmented (AR), Mixed (MR), and Extended (XR), reality technologies that are continuously evolving – as well as the virtual worlds that are yet to emerge. The virtual worlds of today and tomorrow are accessed via Web 3.0, the road to the metaverse. 

“I guess you guys aren’t ready for that yet. But your kids are gonna love it.”

Leading B2C brands have been making great strides in the metaverse in recent times. Global players from Adidas to Honda, Estée Lauder to Millennium Hotels have begun developments in the metaverse with real estate on metaverse-ready platforms. And, new for 2022, the world’s first automated billboard advertising system now enables users to reach a global audience in real time, with no need for metaverse real estate or code.

The world of B2B can tend to be late to adopt emerging trends and technologies. But that doesn’t mean that today’s technologies can’t enhance experiences for your customers (CX) and employees (EX).  

Younger B2B buyers, Gen Z, who grew up playing everything from Minecraft to Roblox, are less likely to find the metaverse concept so alien. The metaverse will mature as they do, with Gen Z one day becoming your C-Level audience of the future. 

Making your own in-roads

In the short term, metaverse opportunities need to support existing objectives. There’s no need for your business to focus all its efforts, for example, on development of a virtual plot on the Decentraland metaverse platform simply to be creative. There’s little to be gained from becoming an early adopter for the sake of it, especially if your business’ goals can only be realised with hardware sales growth or an uptick in cyber-services adoption by your existing install base. 

The metaverse today offers plenty of opportunities to trial and test what works, both for your business and for your customer. These include:

• Enriched in-house team relationships through a mix of VR- and MR-based events
• Relationship-building with partners and suppliers
• Establishment of brand affinity in the long term 
  

6 of tomorrow’s opportunities today

Finalising your metaverse strategy might not be on the horizon just yet. Like many B2B brands, you may, rightly, want to assess how the metaverse develops while prioritising other areas. But there are also some avenues open to your business to explore today:

1) Elevate the event experience

Through AR, VR and MR, your business can generate brand affinity while you excite your customer. Consider creating a personal touch with augmented business cards to bring technology into traditionally 2D formats. 

Events themselves can also draw on AR to provide that ‘wow’ moment for guests. There may have been complexity for in-person events over the last few years, but technology has just kept on evolving. You might introduce elements of gamification concepts at your expo booth to add intrigue to your offering. You could allow users to immerse themselves in a combination of MR and AR within their real-life environment to create a 360° virtual experience. Wide-ranging possibilities to amplify your presence at events already exist. 

2) Customise with creativity

Bringing employees along with you on your digital transformation journey is imperative. A great way to begin the process is to test and develop your relationship-building or marketing offerings internally with partners and suppliers. Employee onboarding can even be run across metaverse technologies. 

VR huddle areas that allow users on both 2D and 3D environments to engage are an easy win. We recently ran a company meeting at Revere along similar lines.  

3) Simplify those complexities

Metaverse technologies have the potential to make everyone’s lives easier. Collaborative whiteboard sessions can be brought to life with MR and extended beyond Planner, Trello or similar project management tools. 

4) Showcase your brand

With metaverse technology, products and services get a chance to shine across the buyer journey. You can engage procurement decision-makers with a smart, relevant and timely sales enablement approach and by offering self-service opportunities.  

Revere partner, Sitecore, recently highlighted the opportunities presented in the metaverse. Through appropriate use of customisation and sales engagement at just the right time, the virtual showroom for Triumph motorcycles demonstrates how brands can showcase products to their target audience in the lead-up to any purchasing decisions.

Almost 100% of technology buyers want to self-serve for all or part of their journey - TrustRadius

5) Collaborate with non-competitors

The scope for partnership has widened with the metaverse. Consider collaborating with businesses that share the same audience – but are not competitors – to mitigate set-up costs and uncertainty around accessibility.

Collaboration could take the form of networking events and company updates. A wider shared audience forum can optimise time spent. In fact, entire events can now be run in the metaverse. This mindset shift for CMOs could pay dividends in the long run. 

6) Embrace the NFT opportunity

Ready to add real metaverse value to your virtual events? Put your (brand) name up in lights with NFTs (Non-fungible Tokens) issued to your audience as incentives to attend your virtual events. Your NFT might offer preferential pricing on products and services or exclusive access to expert advice. Whichever route you decide to take, it’s crucial that it’s tailored and relevant to customer need or demand.

Get ready to fly in the metaverse

71% of global executives state that the metaverse will have a positive impact on their organizations, with 42% believing it will be breakthrough or transformational - Accenture

As metaverse innovations develop, customer experience (CX), immersive experience (IX), employee experience (EX) and marketing all become inextricably linked.

Exploring and sharing the scope for product development and the optimisation of working processes in the metaverse will be key.

Navigating data sets will require us to pivot and flex. Being able to visualise customer information in new ways is bound to break down traditional – siloed, non-collaborative – ways of working. 

Critical touchpoints, actions, and outcomes along the customer journey will inform the immersive experiences you deliver.

There’s a lot for B2B businesses to consider. We can help your brand understand the value of the metaverse to business and guide your investment in technologies from AR, VR and MR to NFTs and training simulations.