The transformation of B2B sector with metaverse

This is probably the easiest article we have ever written because we don’t have to tell you how the #metaverse will transform your business - giants like Forbes, Inc., and others did it for us. In an article from April 2022, Forbes writes that “by allowing businesses to establish a virtual presence that is cost-effective and more immersive than conventional methods, the metaverse could soon become a key player in the global economy.” And we couldn’t agree more. Since you’re reading this, you have also probably heard how the metaverse would bring in the new era of business.?

So, what exactly is metaverse? In the shortest of definitions, it is a network of 3D virtual worlds. Currently, you can define what that means for you and your business. Big companies such as Nike, Facebook, Walmart, and others have recognized its potential and gone full in. Last year, Nike filed several trademark applications with the intent to make and sell virtual branded sneakers and apparel. Walmart has done the same. And we probably don’t even need to mention the rebranding of Facebook as Meta. The likes of Mark Zuckerberg, Sony, Microsoft, and many more see the metaverse as the next big step in the future of work. And here is why you should too:

1. Reduce travel costs, increase sales and ROI

Go everywhere in a second, without actually going anywhere. It is estimated that companies, especially those swimming in B2B waters, spend approximately 10% of their revenue on travel costs. 10%! So, instead of flying to Paris, staying in a hotel in Paris, and wasting valuable time while your employees actually take the trip, you can now virtually meet in Paris, without actually going there. It’s both cost-effective and environmentally friendly.?

But that's not all. Metaverse offers a complete transformation for companies specializing in event organization, such as congresses, fairs, etc. They have a unique possibility to organize the whole event completely in the metaverse. That means: more potential goers, significantly reduced cost and thus higher earnings.?

Finally, metaverse provides the opportunity to increase sales and revenue by establishing a digital presence, reaching new markets very easily, and discovering new sources of revenue while not leaving their office.?

2. Improve employer productivity

Did you know that all departments in your company can profit from the metaverse? And again - it’s cost-effective and a huge time-saver. Instead of training your employees in real life, Forbes says, employees can now learn new skills faster in metaverse-based training simulations. Companies also have the possibility of creating a more immersive customer experience with customer-service agents using avatars to assist in real-time. Did you know that a staggering 49% of potential customers have made impulse purchases just because they have received a more personalized experience? That is surely something to think about.

3. Transform marketing and advertising

In April 2022, Forbes listed metaverse as one of “The five biggest marketing tech trends in 2022”. From sponsoring virtual events likely to generate plenty of revenue to increasing availability with virtual product showrooms or even shopping malls, choices are wide and growing. Although companies are already incorporating metaverse in their marketing strategies, we have yet to see many new and ground-breaking #marketing and advertising opportunities. Forbes makes the most real points of all - although the metaverse is still developing, businesses that adopt the metaverse now will have a first-mover advantage, which will, in return, create a loyal customer base and give them the opportunity to become “a thought leader in their industry”.?

4. Transform networking opportunities and business in general

Metaverse gives B2B companies the unique opportunity to build stronger client relationships just by communicating virtually, which might prove a lot more effective than regular text-based communication. Harvard business review states that face-to-face communication enhances effectiveness and success by a whopping 34%, merely due to the fact that people are more likely to agree to something when asked in person, as opposed to over e-mail. Also, knowing this, the opportunities are almost infinite - everything you can do in person, you can now do virtually as well, with the same effect. Yes, we’re talking about product announcements, company updates, networking events, conferences, educational sessions, and product showrooms…you can see where this is going.

This is just a short reminder of what metaverse can do for your business. And, don’t forget that the metaverse is still evolving, which means this is your chance to be among the first to use it for the advancement of your business and make headlines with early-mover innovations. Get in on the fun early on and transform your business with metaverse. Rewrite the rules of business. Go metaverse.