Welcome to the Metaverse and Web 3.0, where facets of our physical and digital worlds collide to deliver value unlike ever before. You’ve likely heard about the Metaverse buzz by now. But trust me, the hype surrounding its potential is indeed real – extending far beyond Facebook’s brand marketing efforts or the latest and greatest VR gaming headset. We’re on the precipice of a new era.
Metaverse and web 3.0 the dawn of a new era for buying experience
In essence, the concept of the Metaverse represents a shared and persistent virtual ecosystem where various Web 3.0 extended reality (XR) technologies are used in cohesion by millions of people. Gartner forecasts that 25% of consumers will spend at least one hour a day in the Metaverse for work, shopping, education, or social entertainment within the next five years. Furthermore, according to Forbes and JPMorgan, the Metaverse represents an annual $1 trillion opportunity given that its virtual worlds will “infiltrate every sector in some way in the coming years.”
The Metaverse and Web 3.0 will undoubtedly shape the buying experience of the future. As the capabilities of technology evolve, so too must the tools that sales organizations leverage to engage their buyers and enable their employees. From highly immersive and personalized customer experiences to rich and interactive sales training programs, enterprise-grade virtual selling and coaching technologies have game-changing potential across the sales enablement space.
Why? Well, pandemic or no pandemic, virtual selling environments are here to stay. Nearly two-thirds of today’s B2B buyers prefer remote-human interactions or digital self-service as opposed to traditional face-to-face engagement. And by 2025, 80% of interactions between buyers and sellers will take place on digital channels. This dramatic shift in consumer preferences is what fuels the adoption of XR tools in sales enablement, in turn creating avenues to align with their digital-centric lives.
- Virtual Reality (VR): Immersive digital environments that replace the end-user’s real-world environment
- Augmented Reality (AR): Interactive experiences where digitally-enhanced content is inserted into the end-user’s real-world environment
- Mixed Reality (MR): The combination of AR and VR to create “phygital” environments that allow the end-user to interact with both in real-time
Now, envision the use of these Web 3.0 technologies through the lens of a seller. By integrating XR within a customer-facing display or presentation, brands can literally bring products to life through immersive 3D virtual showrooms – allowing customers to interact with them as if they were in the palm of their hands. Sounds a lot more captivating than a PowerPoint deck, right? From the awareness and consideration stages to the point of purchase, Web 3.0 technologies can be leveraged at every touchpoint of the buyer’s journey to keep VR showrooms active 24/7 so customers can explore at their own pace and be guided to a smart decision.
Beyond that, Web 3.0 technologies can also be applied to virtual sales coaching and training. With interactive characters and immersive 3D video content, businesses are able to create MR environments that replicate real-world scenarios their employees will encounter during buyer engagement. As the employee interacts with a simulated buyer, their performance is scored and measured by AI-powered voice analysis tools that identify actionable insights for improvement. Each scenario is fully customizable with real-time functionality to maximize its value – fostering a new approach to professional development that empowers human learning to new heights.
The rise of the Metaverse and Web 3.0 represents a golden opportunity across all industries. The enterprises that are quick to integrate them within their sales enablement playbook will further position themselves for revenue growth and sustained success. In order to create the buying experience of the future, we first need to embrace the technology that shapes it.
OP-ed Disclaimer: This is an Op-ed article by David Keane, CEO and Co-Founder of Bigtincan. The opinions expressed in this article are the author’s own.
