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Twelve years ago, companies weren’t hiring social media talent — they didn’t think they needed it. But now? Businesses need social media directors and entire social media teams. The same goes for playing in the Metaverse.
I am convinced that in the next three to five years at least 30% of the business will result from a mix of Metaverse experiences and implementations of Web3 technologies (e.g. artificial intelligence, virtual reality and non-fungible tokens or NFTs). . It’s important for creative agencies (e.g. advertising agencies, marketing agencies, etc.) to prepare for how they now play a role in the Metaverse so their clients can find them.
Related: What you need to know about how the metaverse is impacting business
The Big Three
The first step in preparing for the Metaverse is for creative agencies to decide which of three roles they will play—either the seasoned experimenter, the contributor, or the activator. Making that decision now will help companies prepare for when their customers arrive in the Metaverse, and it’s only a matter of time before they do.
- Experienced experimenters. This are companies that already understand the metaverse. To find out if they belong to this group, business leaders can ask themselves whether their company strives to be the deep subject matter expert on all things digital, or is an early adopter at the forefront of new technologies. In this case, they need to understand the technologies involved in the Metaverse and how Web3 is accelerating developments and revolutions.
- contributors. These are companies that are still in their infancy when it comes to embracing this new wave of technology, and in-depth expertise is not required. Creative agencies in this group can showcase their client partners’ brands on the Metaverse, merging their physical and digital presence in a way that is profitable and meets client needs.
- activators. This final group consists of companies focused on finding ways to offer holistic experiences for companies and audiences within the Metaverse. Companies in this group are like a mix of experienced experimenters and contributors.
Whether you know a little or a lot about Web3, you can’t afford to be completely left out. Defining your role is an essential first step in preparing for Metaverse integration. People are investing heavily in the Metaverse. It is expected to reach $5 trillion by 2030, and that number is growing exponentially every month.
See also: Your brand can become part of the Metaverse. Here’s how.
After creative agency leadership has decided what role they want to play, they need to strategize and strengthen their online presence. To that end, they will want to hire people whose job it is to prepare the company to implement itself into the Metaverse, whatever role the company takes. This allows them to strengthen their brand identity – and therefore brand loyalty – before the metaverse fully arrives (and it’s coming sooner than we think).
Additionally, leaders and creatives should focus on user experience. What kind of experience do you want to give your customers with your business in the Metaverse? This is critical for brands to establish themselves in the metaverse, because if they can think a step or two ahead of what their customers want when they enter the metaverse, brands will be there waiting and ready to give that to customers what they are looking for.
Finally, it’s critical for creative agency leaders to stay adaptable as they learn more about the metaverse as it’s still unfolding. Staying adaptable and ready for change helps agencies stay ahead of the curve and be prepared to meet clients when they find them in the metaverse.
See also: Your job as a CEO is to make yourself replaceable. Here’s how to start a business that can thrive without you.
The importance of Web3
Even if your agency isn’t yet embracing extended reality and other Metaverse projects, experiences, and communities, many of your client partners’ clients are. Meeting customers where they are is arguably the most important step in building brands and businesses that grow and change.
The metaverse isn’t just a probability—it’s inevitable. Throughout the development of the Internet, waves of progress have emerged due to technological advances. The internet has evolved from a simple new technology for sharing the world of information via web browsers to the development of social media. Among all of these were advances in programming language, faster internet speeds and of course the smartphone.
Now we’re in a new wave: the wave of augmented reality (AR), VR, and mixed reality experiences with the technologies to make them work even more solidly and deeply. If you haven’t already started exploring immersive platforms and how to approach conversations and tactics related to the metaverse with your client partners, the time has come.
See also: The metaverse isn’t dying, the “experts” just keep getting it wrong
The natural course
If technology trends truly repeat history, it won’t be long before hanging out in the metaverse becomes mainstream. We have to watch where people go. An immersive virtual world where customers can socialize, shop, relax, work, and play isn’t that far-fetched anymore.
Since there was a time when people thought the idea of online dating, smartphones, social media, and real human connection on the internet was scary and too futuristic, it makes sense that agencies might be dealing with the same fears about the metaverse are faced. The popular movie she may have seemed sad and dystopian, but some interesting predictive themes were provoked in this film. Concepts such as love, connection, relationships, identity, and community will evolve over time as they always have.
However, knowing what we know now, we understand that embracing new technology is far better than avoiding it. And for creative agencies, it’s much more profitable. The Metaverse is becoming so much more than just a buzzword, and the reality is that advertisers and marketers will be conducting business in a virtual world at an exponential rate as seamlessly as they advertise on social media — and very soon. The blending of our real and virtual lives has already begun, and the sooner you get on board, take a perspective and experiment, the better.