Eventually, many pundits believe that Web 3.0 will overtake Web 2.0 as the primary space for online communication. Until that happens, organizations must straddle Web 2.0 and Web 3.0 technologies.
So, what does this mean in practice? Today, businesses with physical product outlets have a two-pronged sales strategy: online and in-store. However, to stay one step ahead of the competition, you must consider introducing the Metaverse into your sales strategy.
A solution is a three-pronged approach. Your marketing strategy needs to include an in-store, online, and Metaverse launch. Here’s why:
The three-pronged approach is perhaps most relevant for retailers. Today, retail launches are a combined approach with in-store and online offerings. Bringing in the Metaverse is a natural progression and a positive step forward, but what does it look like?
The exciting thing about launching a product or service in the Metaverse is that it needn’t be a full-fledged Metaverse strategy, simply an added extra that helps cement a brand’s commitment to progress.
This approach means that organizations don’t need to commit to a full-fledged Metaverse strategy. Instead, companies can make tentative steps to try out Metaverse launches with little investment and risk.
Who Is Doing It and How?
Several high-profile brands have already adopted this approach. Most recently, Mattel, Inc did so with Barbie®. The company’s Forever 21 X Barbie® collection had a standard in-store launch, an online reveal, and a third launch in Forever 21 Shop City on Roblox.
While in-store, customers can purchase the new looks available in the collection. In Roblox, Mattell, Inc has utilized the platform’s in-built technology to provide avatars with high-res digital replicas.
In automobile manufacturing, Toyota and Nissan have entered the Metaverse with virtual showrooms, and Nissan even launched a virtual version of its Ariya electric vehicle. While Mattel chose to go with Roblox, Nissan opted for U.S.-startup VRChat. However, both follow the same model. Neither organization has decided to create its own Metaverse space, opting instead for an existing platform to test and showcase its wares.
One of the critical points in Metaverse development is the requirement to test things slowly. There is no need to go all-in at this stage because technology is still evolving. However, using an existing platform for marketing is a brilliant idea. You needn’t invest in a permanent feature when a specific launch event goes a long way to legitimizing your status as a progressive organization.
And it pays to do your research. The prices of the various platforms vary considerably. Furthermore, it makes good business sense to utilize your existing marketing channels to promote a Metaverse launch, even if it takes place on a relatively unknown platform.
Moving forward, companies will likely abandon Web 2.0 launches altogether, perhaps even in-store launches, for more digitally-focused brands. The Metaverse will provide ample growth opportunities. Eventually, if everything transpires as predicted, then users will have transitioned from the regular internet to Metaverse spaces.
When this time comes, organizations that have adopted the three-pronged strategy that we have discussed today will be ahead of the competition. And not only from a visibility perspective.
Early adoption of Metaverse technologies is critical for company-wide acceptance and implementation. When you work with Metaverse technologies at this early stage, you can help normalize them in your company. Just as data-driven innovation is fueled by cultural shifts today, so will Metverse-driven success rely on company-wide adoption in the future.