Metaverse is evolving and quickly becoming a virtual reality where fun and business coexist. The renowned PR professional Austin Rotter has shared his two cents on how business can get into it easily.
Metaverse seems like a world of imagination but that’s exactly what we are heading towards. So far, physical presence and interaction are required when it comes to purchasing goods and hiring or offering services. But wouldn’t it be cool if we can accomplish such tasks from the comfort of our homes?
Imagine what would happen if people got the chance to work and interact with others without leaving their homes. That’s exactly what Metaverse is offering, a complete virtual experience to people. It looks like a dream far from reality but the concept is already evolving.
Tech giants like Meta (previously Facebook) and other businesses are putting their money on it. According to the latest forecast from Fortune Business Insights, the Metaverse market is expected to be worth 1,527.55 billion USD by 2029. There have to be some reasons behind such financial moves, right?
Why are businesses investing in Metaverse?
Metaverse is opening new doors for businesses by allowing them to communicate with customers virtually. People can join meetings and hold gatherings by using VR headsets. But what’s intriguing is that businesses can establish a whole virtual economy within the Metaverse.
For example, if you are an architect, you can construct buildings or recreational areas. You can then monetize it by letting other people or businesses use your virtual property.
So, if you are a business owner looking to capitalize on this new technology, it’s the right time to do so. Austin Rotter, the renowned media strategist, has shared useful tips on how businesses can get into the Metaverse.
- Find the Right Metaverse Platform
The first step towards getting into the Metaverse is finding the right platform. The top platforms popular among businesses right now include:
- Epic Games
- The Sandbox
Roblox is the ideal platform for businesses that are into art, music, movies or gaming. Decenterland is for NFT lovers while The Sandbox is a gaming ecosystem where major brands like Gucci and Samsung have a presence.
- Prepare Your Business for the Metaverse
Like any other platform, Metaverse has its own set of rules and guidelines. So you must prepare your business before dipping your toes in virtual reality. Make sure you have a skilled team and trained staff that is familiar with the Metaverse environment. Since you will be dealing with virtual personas and digital or cryptocurrencies, make certain that your business has expertise in this regard.
- Focus on Your Target Audience
The most crucial thing for a business that is new to the Metaverse will be dealing with customers. Once you have selected the precise platform, it’s time to target the right audience. Instead of focusing on everyone in the Metaverse, create and implement an effective strategy.
Construct your audience persona and then start targeting your ideal customers. For example, if you sell games or action figures, target the teenage audience.
- Offer a Better Customer Experience
Customer experience is the key to a winning marketing strategy in this day and age. This includes your product quality, consumer support services, and above all, the user experience. However, you must not neglect why users are present in the Metaverse. They want the ultimate experience not to hang around and evaluate products.
The ideal way to win your customers’ hearts is by presenting your products and their benefits in the best way possible. Thus, instead of showcasing 2D models, portray three-dimensional images. Let your product, software, or game simulate real-life movements and actions.
- Pay Attention to Data Privacy
If you are a new business entering the Metaverse, don’t overlook the privacy compliance factor. You’ll be running a virtual store that means you must keep a record of your interactions and transactions. Try to document your data in the blockchain and ensure that your customers’ data is safe and secure. Also, be transparent about how you are gathering data and what steps you are taking to prevent data leaks.
Metaverse is a virtual reality that is not only evolving but also expanding as a market. According to Austin Rotter, a professional PR and branding expert, businesses should construct proper strategies before getting into the Metaverse. Choosing the right platform, having a skilled team, and focusing on the right audience are crucial. You need to offer the ultimate user experience to customers and ensure your data is secure within the Metaverse.