When we speak about metaverse, it’s the future of internet which enables two worlds to bridge together, the virtual world and the physical world. It helps by connecting our virtual experiences like avatars or characters to our physical experiences in our real world. This bridge will transform our current internet into internet of places and property, as well as it will create new user experiences and opportunities.
On the other hand, when we speak about B2B Metaverse, it is the B2B internet of spaces that will reshape the business and create tremendous opportunities. This will impact B2B business in many ways by adding new capabilities to:
– Enterprise Workplace with digital twins and models for collaboration
– B2B Business Development with new customers experiences, products & services showcase and Expo, matchmaking, and networking
– B2B Financial Transactions with tokenization, digital currency, decentralized payment models, NFT
In this article, we will focus on the new ways and new tools to engage with customers and develop business:
- New and enriched customer experiences in the B2B Metaverse: The metaverse offers creative and exciting new customer experiences thanks to 3D, VR/AR/XR, AI and other social media features used for communication. These new customer experiences of B2B Metaverse can be benefitted by moving from 2D ordinary website to more exiting and interactive 3D website as described by Victoria M. Frost in her article B2B Companies: Drop Your Website, Build a Metaverse or/and by participating to an established B2B Metaverse ecosystem, for example Must B2B Metaverse, where you can have a virtual booth to show case your products, also you will be able to connect, matchmake, network and collaborate with other B2B Metaverse companies and most importantly you can organize professional conferences in an immersive environment and as well as conduct all your entertainment events.
- High Potential Ecosystem & collaborative Go-To-Market solution: According to McKinsey report, at least a dozen sectors, including B2B services, mobility, travel and hospitality, health, and housing, are reinventing themselves as vast ecosystems, networks of networks that could add up to a $60 trillion integrated network economy by 2025. It is about creating and selling more products and services by collaborating with your ecosystem partners to deliver to them what you cannot deliver alone! The potential of ecosystem collaboration is huge and helps a lot to find new customers beyond your traditional prospecting methods and achieve better TTM and ROI by collaborating with partners to sell turnkey solutions. The B2B metaverse is the perfect ecosystem that provides the right digital infrastructure and tools to communicate and collaborate. In addition, it will help to get your own ecosystem to matchmake & obtain valuable insights to identify the right partners.
- Hybrid B2B Sales & Expo for more agility: According to McKinsey& Company, hybrid B2B selling is expected to be the most dominant by 2024. B2B sellers are looking for the right mix between in-person and remote contacts, as well as the event organizers looking to transform temporary events to a permanent community to be able to adapt themselves to the hybrid move. It is now recognized that the hybrid model provides more agility and insights than traditional ones. The B2B Metaverse will clearly be the playground of the hybrid B2B Sales and Expo model.
- Innovative Distribution Strategy: Just imagine the new generation of B2B distributors who are in the B2B Metaverse with interactive Showrooms to showcase their multi-brands products and services through different use cases and verticals. A showroom for energy savings where multi-brands HW & SW products made available through their digital twins to bring virtual models and where clients can perform simulations to select the right products and services for their application and budget! Those showrooms could be personalized for local markets and customers! This will create a new distribution channel and will accelerate typically what traditional distributors are currently doing to create reference designs with only few brands!
- Elevating B2B Marketing
The combination of different advanced technologies embedded in the B2B Metaverse addresses a critical gap in today’s digital B2B journeys: the ability to learn from every digital interaction and information with feedback loops to improve and to be able to deliver data, advanced B2B insights and opportunities to marketers.
By setting their own booths and showrooms inside a B2B Metaverse, B2B companies can learn more about their customers behavior and best matches. Therefore, they can achieve the ideal customer experiences by personalizing navigation experiences, spaces, dressing and even creating VIP spaces with limited access controls. By setting virtual conferences in a fully interactive digital space, they increase their visibility, create, and distribute more content as well as attract more leads!
In addition, the metaverse represents a huge reservoir of creativity and therefore a huge potential for advertising opportunities. It is possible to advertise everywhere in B2B Metaverse, in an immersive way, through conferences, through gaming, messaging, NFTs, etc. This will allow brands to reach millions of users in few clicks and find the right target audience.
The B2B Metaverse for sure will transform the B2B sales and business. It is already here and is creating tremendous opportunities! So, companies need to consider it as an opportunity to introduce a new sales channel and lead generation tool, a new CX, a new ecosystem insights tool, a new collaborative working and product development … it will ignite your B2B business in many ways!