In October 2021, for the first time, the largest international e-commerce and retail forum was held in Moscow .
The event was opened by Doug Stevens, a Canadian futurist who gained popularity with the most accurate predictions in the world of sales. In his speech, he focused on the metauniverses and spoke about the fact that the computer games market is becoming an effective channel for communication between brands and customers.
What is the metaverse?
The Metaverse is a separate digital world that merges with the real, physical one. In 2021, projects in this area mainly relate to the Social VR category - safe and “hassle-free” social networks within the framework of virtual and augmented reality (VR and AR) technology.
The term was first encountered in 1992 in the novel Snow Crash by science fiction writer Neil Stevenson. But due to the lack of technical capacity and the required level of technology, implementation has become possible only recently.
Society is smoothly and naturally moving to live in the o2o format (online-to-offline). Two years of the pandemic has only accelerated this process. Alternative worlds are created for work, games, communication. The time people spend in them is growing, but real life remains real.
Inside the metaverses, it becomes possible to live lives that a person lacks. The same social technologies are in demand there, there are conflicts, struggle, friendship.
And now it's also a new way to sell and buy goods:
- Imagine that in addition to viewing clothes and equipment, you can try on and purchase it without leaving the online space? People buy virtual outfits for their avatar, as well as goods that will be delivered by courier to their homes.
- Or how do you like the opportunity to shop with friends and consult with the seller directly in the game (or offline)?
In an immersive 3D world, this is possible. Traditional visions of omnichannel retail are being taken to a new level.
What is Metaversial business for?
While the world is buzzing about the emergence of the Metaverse, brands are actively exploring the possibilities of digital channels, as the pandemic has made adjustments and made the capture of market share in the Metaverse system more relevant than ever. What are we talking about:
- Direct sales within the metaverses (Direct-to-Avatar, D2A)
D2A is a business model for selling goods to avatars (digital personalities) that does not require supply chain management.
For example, dropshipping - an intermediary carries out retail trade without storage in its warehouse, goods are shipped directly from the warehouse of the manufacturer, dealer or wholesaler.
D2A brands are sold in social or competitive virtual environments such as games or open worlds where consumers present themselves as an avatar.
Our company (DAO PC) is testing hypotheses to make the transition to virtual worlds easy for both consumers and brands.
D2A gives companies that missed the “wave” of the digital revolution a chance to use the possibilities of the metaverse to grow their business.
- Direct sales into reality (Direct-to-Consumer, D2C)
The customer journey starts in the virtual world and ends in the real world. Through an order in the online application, the goods are delivered to the final consumer. D2C allows brands to enter the market directly, without intermediaries.
But the process continues to depend on third parties for shipping and handling, and turns into a race to see who gets to the front door the fastest.
- Not just advertising, but the presence of brands in virtual worlds
In addition to real products, people buy experiences. The world's biggest brands: SAMSUNG, GUCCI, Balenciaga and others use game engines (underlying software) to completely reshape and recreate spaces and present them to audiences in a new way.
Examples:
- Louis Vuitton has developed skins for League of Legends in collaboration with Riot Games.
- The Gucci&Tennis Clash collaboration helps players discover exclusive outfits designed by the Italian fashion brand and purchase Tennis Clash character clothing items on the Gucci website .
- Balenciaga has created a video game - "Afterworld" to present the fall 2021 collection. Players were taken to the post-apocalyptic world of 2031 to explore different areas - the Balenciaga store, the forest rave - where the models either stood or danced in clothes from the new collection.
Balenciaga captured the attention of buyers and sellers by providing them with an innovative way to experience a product through 3D avatars.
The Metaverse is a way to go beyond the usual store, and turn any user scenario into a process of buying a product or service. There are already huge free-to-play open worlds with economies. In them, people spend a lot of time and spend a lot of money on avatars. They buy skins for them - elements of improvement, and this is an additional sales field and a new audience of buyers.
If we recall the emergence of social networks, they have become a continuation of our reality. In the same way, ordinary life will repeat itself in the metaverses. Those who have communication skills will also be needed in a virtual environment to work out the technology of interaction between people. Including in the context of brand promotion. Therefore, to build trust, you should pay attention to community managers.
- New tools in the field of education
The younger generation is actively proving that computer games are one of the most powerful forms of learning, creativity and self-expression. Thanks to the introduction of metaverses into the educational process, expensive overhead costs will disappear, and the comfort and quality of online learning will improve.
This can be seen on the example of the virtual campus that we are currently creating (an educational process combined with a game).
Our experience
In October 2020, as part of a joint team, we were the first in the world to implement a project for a major retailer, in which more than 20 global brands of home appliances and electronics (SAMSUNG, SEB, Haier, LG and others) took part. 30,000 employees got acquainted with the new products, which then went on sale.
The sellers were immersed in the game in the form of funny robots . The project integrated more than 500 pieces of equipment and about 30 brand representatives, including media people and influencers. They told the players about the new products that will go on sale.
An educational track project was also implemented - an academy, in which participants got acquainted with educational content, answered questions, received points and exchanged them for valuable prizes from partners.
It was then that we saw unlimited opportunities for functionality, interactivity and integration into the metaverse of any, the most daring ideas.
It is important to understand that the creation of a metaverse will not be worth the investment without organizing access and attracting the required number of users.
To close the task, the Immersive.Space platform was created , on which DAO PC continues to work actively. The platform provides key integrations for businesses to link them into a metaverse with systems and processes just like in real life.
3 Keys That Will Help Open the Doors to the Future of Online businesses in Metaverse for Corporations
- Connect the Metaverse to Real Systems/Processes
Determine what integration points are needed to synchronize online and offline processes - think POS systems, CRM systems, payment processing systems, etc.
The data obtained from the interactive 3D view can help develop marketing and product development strategies. Analyzing where consumers spent their time, what products they purchased most often, and what colors were most popular are just some of the data that can be generated from this integration.
- Make sure that real goods sold through the virtual world meet the buyer's expectations
It is important to establish trusting relationships with clients. They must understand that they are buying through the meta version what they want to receive in real life. Digital twins of your product, whether it be a car, handbag or even a house, must be of high quality.
According to a report from advertising agency Dentsu: Product transparency and appeal to the emotions of consumers go hand in hand. Emotions will be one of the main factors influencing the buying decision process.
- Customer Service Optimization in the Metaverse and Beyond
For most brands, the first priority should be to create a true omnichannel experience or O2O (online 2 offline) to serve customers anytime, anywhere, anytime.
It is important to strike a balance between automation and human interaction. Deciding which routine processes can be automated and which require a human touch can affect the customer experience.
For example, Foresight Factory reports that 69% of consumers worldwide prefer to complain about a product or service to a person.
The ability of technology to infer the emotional states of customers promises a future of highly personalized and humanized CX travel. Customer personal data, including length of stay and purchase history, will increasingly be used to provide empathic interactions with brand representatives - people, chatbots and other channels.
Before our eyes, a new world is being born, in which people of all ages will be able not only to play in public virtual spaces, but also to create, learn and earn. Our mission is to expand these opportunities.
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