Ok lets cut out the BS! Hands up who really knows what the Metaverse is and more importantly what it means for your organisation, your responsibilities within that organisation and your marketing strategy?
Please feel free to put your hand up in the comments below and share your thoughts. 👇
The Metaverse has been around longer than you may think and we created a guide to the Metaverse earlier in the year. However I personally admit I am no expert on the metaverse. Don’t get me wrong, I am no dummy, but how could I be when there is barely an aligned description of what it actually is, let alone what construes being an expert of each of the many components.
If the experts can’t decide on one unified description – it’s probably one of the reasons why it can be so confusing. See some snapshots below:
What is the Metaverse?
According to Merriam-Webster;
a persistent virtual environment that allows access to and interoperability of multiple individual virtual realities https://www.merriam-webster.com/
According to Oxford Languages which powers Googles define result:
a virtual-reality space in which users can interact with a computer-generated environment and other users.
According to the Cambridge Dictionary:
the internet considered as an imaginary area without limits where you can meet people in virtual reality (= images and sounds, produced by a computer, that seem to represent a real place or situation)
According to Gartner:
a metaverse as a collective virtual shared space, created by the convergence of virtually enhanced physical and digital reality. It is persistent, providing enhanced immersive experiences, as well as device independent and accessible through any type of device, from tablets to head-mounted displays
Confused? You should be.
Trying to make sense of all this; the metaverse is therefore a virtual and physical space and experience, where users (people) can interact, engage, participate and to a degree live in an alternative and ever changing reality without limitations. How does that sound?
So, a virtual and hence more limitless digital version of life.
Some say the metaverse is already here, with the likes of online gaming such as Roblox and Fortnite. However others state that we are a long way off the metaverse as the technology is not advanced enough yet. VR and AR are still in their infancy and although developing fast and offering some amazing digital realities, they still have far to go before the majority of people are utilising them in the same way we embraced the likes of social media.
So why is the Metaverse on everyone’s lips?
Because it is exciting, it’s new and shiny, it’s the future and offers huge opportunity and innovation for brands. From gaming, virtual shopping, digital currencies, virtual training and teaching, and the list goes on, the metaverse may play an important role.
Already we see virtual walkthroughs of residential properties, tourist attractions, virtual shopping where we can try out clothes, makeup and home furnishings in a real life setting before we purchase them.
It’s an extension of social media, a blend of a digital and a physical world and that can be exciting. Reality is limited, Virtual Reality is not, and where new technology and innovation lies, money is to be spent and therefore made.
What should you be doing about it?
Don’t just jump in with both feet. Remember the year of mobile which lasted a decade, and even now many organisations still have a weak mobile business. But those at the forefront were somewhat the guinea pigs for many years as they tried to force the arrival of mobile – however when users are not using, the growth is always limited.
My recommendation is to get your ducks in line first! 🦆🦆🦆
What I mean by that is look at what you are currently doing, is it working, how do you know, how are you measuring performance, what touchpoints are you monitoring already, what sticking points are there, is your enquiry to sales funnel fully optimised, are your CTAs clear, is your website optimised and user friendly (mobile, desktop and tablet), is your brand and messaging on point and consistent, do you have a strategy for now?
If the answer is no or what??? to any of the questions above, how can you be concerning yourself about the metaverse, when you haven’t even got the current foundation in place to grow?
There is always going to be a big shiny thing on the horizon, a new challenge to tackle, or a new platform to be the first to utilise. I am all for innovation and change, especially in a fast paced digital world.
However many businesses are already behind in the current digital market. If you are currently underperforming, or struggling with where you are now, what on earth makes you think that you or any apparent ‘metaverse expert’ is going to help you change that by employing a VR, CGI, digital and physical strategy?
In conclusion, be aware of the future developments absolutely, but first take control of what you currently have.
This way it will help you shape your path into the metaverse in a much clearer and effective way with purpose, rather than just jumping on the bandwagon.