Recently, you may have heard the term “metaverse” used more in conversation. The idea of the metaverse has already become a hot topic of 2022. Many companies are asking questions like, “What is the metaverse?” and “How can our organization leverage the power of the metaverse in 2022 to keep us positioned as experts in the technology space?” Here at APC, we’ve been making those same considerations on how our business will leverage the power of the metaverse in 2022.
So, what is the Metaverse?
The Harvard Business Review defines the metaverse as “any digital experience on the internet that is persistent, immersive, three-dimensional (3d), and virtual, as in, not happening in the physical world. Metaverse experiences offer us the opportunity to play, work, connect, or buy.
Just a few ways to leverage the power of the metaverse in 2022 include:
- Product demos
- Training new employees
- Virtual conferences
- Virtual meeting- and break- rooms
Many companies that a handful of us use daily are also considering diving into the metaverse. Nike, Microsoft, Facebook, Epic Games (located right here in Raleigh, North Carolina), and the Roblox Corporation have established their companies as beginning players in the metaverse.
Microsoft is even exploring integrating its Teams and Mesh platforms, positioning its cloud services as a leader in the space. Do you use Microsoft Teams with your work? Soon, you may be able to enhance this experience with more creative virtual experiences for businesses, like enabled avatars and virtual conference rooms where you conduct business with your colleagues and coworkers.
Even the sizeable athletic conglomerate Nike is playing the metaverse space. As The Harvard Business Review details, Nike has already filed patents for virtual goods and opened the opportunity for building retail environments to sell these goods and services.
Janet Balis, a leader at Ernst & Young LLP, states, “If you are already in it, prepare for the fact that all new spaces present risk and reward; manage accordingly, knowing that it may be super-unpredictable and lacking in standards.”
A few ways to stay on top of the metaverse roll-out include:
- Consider how much your target demographic and audience will spend in the metaverse. For example, if you have a millennial or very young target audience, you will likely not avoid the implementation of the metaverse.
- Pay attention to how your competitors are acting in the space. Are they showcasing a leadership meeting? Do they have metaverse delegates and representatives demonstrating the capabilities of this new technology to the rest of the company?
- Consider your launch plan. What are your clients seeing across their client portfolios?
- Consider the risks and rewards. Undoubtedly, all new technology will present challenges. It’s essential to stay on top of the potential malfunctions and hazards and have a counteractive plan in place to fight those unknown risks and challenges.
It’s no doubt that adopting the metaverse will present certain risks and unprecedented procedures. At the same time, however, think of the reward. Being an initial player on such an impactful and emerging frontier could prove vastly rewarding for companies. And, don’t forget to watch APC’s blog space for thought-leadership pieces on business intelligence tools, data science, and management/data governance.
Kristen Burgess is the Marketing Specialist at Alliance of Professionals & Consultants, Inc. She has five years’ experience in curating content for digital platforms, social media contributions, and supporting marketing campaigns and strategies. Before joining the APC wolfpack, she worked in digital marketing for software as a service, giving her keen insight into the types of professionals APC hires today. In addition, she likes to stay up-to-date on the most relevant trends within the technology industry through thought-provoking podcasts and newsletters while paying attention to industry leaders’ trends. In her spare time, she serves on the Management Team and helps craft communications for the Junior League of Durham and Orange Counties.
