Innovative Metaverse Technologies Enhancing Customer Experience

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Darshan Shah

March 8, 2023

Although the Metaverse was a popular topic of conversation in 2022, customer experience (CX) has remained untouched; nevertheless, this may soon change.

The development of the Metaverse has prompted some organizations to adopt the virtual world. Nike, Meta, and Disney, among others, have already recognized this evolved new reality.

Customers can view product information and adverts from an actual physical store or shop. For example, a stroll along a city street will reveal information about local shops, events, goods, services, directions, and more in the physical world.

When it comes to Metaverse use, according to Gartner, around 25% of users will be active in Metaverse for at least an hour by 2026. Moreover, income produced by Metaverse technology might reach $800 billion by 2024, a $500 billion gain over 2020.

Companies can communicate with their customers in several novel ways with the Metaverse. This transformation impacts their operations, services, and what they will provide to their clients.

In this article, we will discuss utilizing metaverse technologies for customer experience.

Let's get going.

Pushing the Limits of the Metaverse: What Can You Do For Better Customer Experience?

Before rushing headfirst into the Metaverse, brands should consider the points below.

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1. Assess Gen Z And Millennial Markets

Connecting with a tech-savvy demographic like Gen Z and Millennials is crucial before venturing into the digital sphere. These people have grown up understanding how technology works and how it advances. Hence, it would be simple and less frightening to include Metaverse in their client experiences.

The metaverse has the potential to significantly impact customer experience for baby boomers and Gen X by offering new forms of entertainment, access to new products and services, and potentially helping to address some of the challenges associated with aging. The possibilities are endless, though.

2. Refocus To Establish Virtual Worlds

Metaverse's virtual environment will allow for personalized and meaningful user interaction. Here, businesses must refocus their efforts from becoming digital to establishing a strong virtual presence.

3. Actively Seeks Out New Technology Opportunities

We are all aware that technological advancements are ongoing processes. This entails that companies should actively seek out new opportunities and invest in necessary improvements. To draw more people into the Metaverse, it is crucial to rapidly increase the capabilities of 3D graphics, virtual reality, and artificial intelligence. Users of the Metaverse will have a far more enjoyable and interactive experience as a result.

4. Generate Cutting-Edge And Interesting Digital Content

Designing an interactive or immersive game and high-tech virtual experiences is crucial for keeping customers interested. To motivate members of Gen Z and Millennials, businesses could consider hosting and presenting a range of events. With events, these customers may facilitate interaction between them. Their participation and involvement in the virtual or digital world would therefore increase.

5. Do Research, Investigate, And Test

All brands must act immediately. Thorough investigation, exploration, acceptance, testing, and education on critical aspects are required.

The importance of having a positive cross-application experience has grown in recent years due to the proliferation of various technological tools. Thus, it is essential to do extensive testing on the technologies that will fuel the Metaverse.

The best results may be achieved via iterative testing from a wide range of users' perspectives. In addition, it may provide a detailed picture of the overall performance across all applications and devices.

Complexity will increase, necessitating more thorough testing. For instance, how would the users communicate in a multi-user virtual setting? As well as how their participation through various mediums would feel. This is the kind of real-world scenario that calls for extensive user interaction.

These characteristics heavily influence a customer's journey and his/her impression of a brand throughout their time in the Metaverse, particularly the digital world.

Exploring the Possibilities of Customer Experience in the Metaverse

The Metaverse will enable organizations to prioritize their clients in a future where virtual selling settings will soon become the norm.

1. The Metaverse Will Give CX A Fresh Aspect

Businesses have been compelled to think outside the box due to the Metaverse. It has helped executives to envision the future of customer experience, linking customer experiences with innovation and experimentation. As a result, customer journey and brand connections with it are changing more quickly than ever before.
Businesses may digitally reproduce compelling experiences and overcome geographical limits by harnessing the Metaverse. Businesses may form communities and offer various digital experiences to reach a bigger audience.

Moreover, using customer-centric features like self-service choices and in-app chat, users will now have greater freedom to adapt services to their requirements.

2. CX Will Improve With Edge Computing

Because of the many digital integrations made possible by edge computing, CX will be more exciting for the user. Gartner predicted that by 2025, 75 percent of all data would be digitally processed at the edge rather than at a centralized location like a data center or the cloud, allowing for rapid reactions and lower latency. In addition, the in-store customer experience (CX) may be revolutionized by using sensors, analytics, cameras, and other Internet of Things (IoT)-type devices.

More personalization and appeal may be brought to the CX with automation and analytics with an edge. Every interaction will have more value and be executed more quickly and efficiently. This reduces infrastructure latency and increases responsiveness.

3. Voice Technology Will Improve CX

In particular, for those unable to use a keyboard or write, voice technology may enhance customer experience and make it more accessible and inclusive. The fact that it's a hands-free choice is just a bonus for customers. With voice technology, companies can reach out to more customers by offering assistance in many languages, making it easier for them to locate the appropriate resources.

Having text-based interactions may also aid firms in improving agent training, assessment, and reporting since contact centers have developed into a more individualized omnichannel platform. In addition, improvements in customer journey and service have been made possible by discovering and implementing new methods by developing machine learning and artificial intelligence (AI).

3 Metaverse Customer Experience Innovations for the Future

Do you recall the term "digital twins"?

Digital twin" refers to an electronic replica of a physical item. It's an alternative to physical prototypes since it creates digital twins with all the same features. In addition, it may function as a realistic representation of an object's behavior or performance.

The concept of a digital twin is to have a digital representation of a physical thing or process that can be compared in real-time. So we're talking about connecting with the virtual while influencing the real.

So how does this relate to the Metaverse? More than you may think. These are some of the technologies that will make the Metaverse full of more immersive experiences:

1. Virtual Reality (VR)

The term "immersive technology" is often used to describe virtual reality. It accomplishes its goals by immersing the user in a simulated setting generated entirely digitally, such as via computer graphics or 360-degree video. The purpose is to create a convincing atmosphere that stimulates the senses utilizing visual, audio, and tactile means. The ubiquitous VR glasses are a common example of such a device.

It's important to remember that the current iteration of VR is only the beginning of the Metaverse.

2. Augmented Reality (AR)

Augmented reality incorporates digital components into the real world, often using software and the camera application on smartphones and tablets. Its goal is to help users learn more about a topic by supplying them with pertinent data.

One innovative use of AR technology is by home improvement retailer Lowe's. The company has developed an AR app called "Lowe's Vision," which would provide customers with visuals of how products will look in their homes before making a purchase. For example, a customer can use the app to see how a new piece of furniture would look in their living room, or how a new appliance would fit in their kitchen.

To use the app, customers simply point their smartphone or tablet at the space where they want to place the item and the app overlays a 3D image of the product in the real-world environment. This is to enable customers by helping them move and adjust the product to see how it looks from different angles and in different lighting conditions.

3. Mixed Reality (MR) & Holography

The physical and digital worlds meet at the intersection (the so-called spectrum) in mixed reality. Indeed, it has close ties to VR and AR but is not limited to those technologies. The usage of holographic technology sets it apart from the other two.

Today's MR outcomes are often accomplished by combining holographic technologies with AR, but the technology has yet to hit the exponential curve before it can unleash its full potential.

Nevertheless, this is not all of it. With the technologies mentioned above, 5G, Blockchain, NFTs (non-fungible tokens), and cryptocurrencies will also thrive in the Metaverse - resulting in better virtual and physical worlds for customers.

Futurists See The Metaverse As A Driving Force In The Development Of CX

Why should a business worry if there has been no constant movement toward changing how we interact?

It's no surprise that futurists see the Metaverse as a driving force in the development of the Internet. The viewpoint predicts that the virtual world will become considerably more immersive in a few years, becoming integral to how we learn, work, and consume—using avatars.

The Metaverse may signal a sea change in corporate strategy, with the emphasis shifting from products to improving customer experiences.

Brands can utilize technology to deliver immersive, engaging, and emotionally resonant tales, which fosters deeper, more genuine relationships and has a greater influence on the user experience.

In a nutshell, this new technological advancement is expected to provide better communication amongst users, hence enhancing their overall brand experience.

Several well-known corporations have begun investing in this area because of the Metaverse and its opportunities, particularly in improving their services.

Conclusion

Companies may use the Metaverse to connect with their customers more personally by providing engaging, relevant, and entertaining virtual experiences.

Using augmented reality, mixed reality, artificial intelligence, and other technologies, the Metaverse will build a virtual environment for users that will become an integral part of their everyday lives, transforming it into a real-world version of the Matrix.

To be successful at any size, a company's leadership must create and continuously improve an experience ecosystem that enables instantaneous responses to customers' wants and requirements. There's no better way to use cutting-edge technology to discover novel interaction methods when laying the groundwork for excellent CX in the coming years.

Innovative Metaverse Technologies Enhancing Customer Experience

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