As someone who runs a small business and works with other women-owned small companies, I understand some of the concerns about Facebook’s rebranding to Meta.
Much of the criticism leveled at Facebook is justified. Meta and the rest of the IT sector have a long way to go to restore the harm done by their questionable practices — much less their own reputation.
But we’re here to discuss the flip side of the coin: why does this create a tremendous opportunity for small-business owners and end-users, and how you can embrace this changing environment for the better. Without further ado, let’s begin to discuss the significance of the metaverse for small business and metaverse business opportunities.
What it truly implies…
The transfer from Facebook to Meta signals the beginning of an era of innovation. What the “metaverse” will look and feel like will change over time.
According to preliminary reports, we may expect 3D virtual rooms, shared virtual experiences with loved ones all over the globe, concerts, virtual workrooms for collaboration, shopping, VR gaming, and fitness (the possibilities are unlimited)!
There is an opportunity when there is change.
With an increasing number of small companies utilizing Instagram and Facebook in particular to drive brand exposure and sales, it’s comforting to know that these platforms will continue to exist as the applications we all know and love.
At Orange Web Group, we run Facebook advertising for a variety of amazing businesses with varying budgets, so I’m relieved that their campaigns won’t be negatively impacted by the re-brand. If anything, I believe this is an intriguing route that most firms will be able to add to their expanding internet presence.
And, as Benjamin Franklin once remarked, “when you’re finished changing, you’re finished.” So, take advantage of the metaverse business opportunities to adapt and stay ahead of the competition.
The possibilities for retail are limitless.
Not only will customers be able to access virtual locations, but they will also be able to stroll around them wearing their favorite custom clothes, which are now referred to as “digital skins.”
But, more than just looking good, small companies have the opportunity to create a new “e-commerce” and buying experience, and this is one significance of metaverse for small business.
Get “genuine” with someone you’ve never met before.
As the owner of an advertising firm, I’m most thrilled about having collaborative meetings using Meta’s Horizon Workrooms so we can employ and connect with the brightest brains from across the world, which is excellent for small companies looking to develop.
So, how will the future look?
Spark AR is a fantastic piece of software in the Meta family that allows users to create augmented reality experiences.
While anything is possible, I assume the VR headset would also include adverts in between sessions, providing an opportunity for small firms with limited resources to adapt without having to create their own AR elements.
What happens next? There are four actions that small businesses might take to prepare for the “Metaverse.”
It’s time to take the following four steps:
- Training – Take advantage of as many training programs as Meta or Facebook have to offer for you and your business. There are several free ones accessible thru Facebook Blueprint, the company’s free online learning platform.
- Investments — Begin investing in augmented reality technology online and in-store, as well as training and hiring the proper expertise in this field. Spark AR provides excellent training and information for newcomers.
- Regulations – ensure that your rules and processes are in place to safeguard the privacy and rights of your customers, employees, and community.
- Maintain an open mind. With each new development comes an opportunity, so prepare to embrace the Metaverse with enthusiasm and passion and take advantage of metaverse business opportunities.
The following are three ways that smaller businesses may begin to use Virtual Reality right now to remain ahead of their competitors.
Virtual Tours across production lines, office premises, or exhibition grounds may bring clients, business partners, and future applicants closer to your business.
Increased qualified leads by 49%
By allowing customers to interact with your products and services firsthand and up close, you enable them to make better informed decisions, therefore qualifying incoming leads from the start.
Increased website engagement by 40%
Offering Virtual Reality Tours not only helps your sales efforts, but it also enhances the amount of time clients spend on and interact with your website.
Customers increased by 13%.
According to studies, delivering Virtual Tours to clients improves the tourism business in particular: 13% of individuals who experience a holiday ahead in Virtual Reality go on to plan a trip or contact hospitality organizations.
Virtual Product Presentation / VR Showroom
Showcase your products and services from an entirely new perspective. Excite customers, increase visibility, and cut costs.
Give your products and services a fresh breath of life.
Allow your clients to interact with and experience your products and services in a new and engaging manner. Virtual Product Presentations provide new ways to exhibit your products and services by allowing consumers to explore various elements of them, resulting in more leads, a better customer experience, and lower expenses.
Virtual Product Presentations add significant business value.
Customers increased by 16%.
Providing a fresh and engaging customer experience, as well as vital insights about your products and services, may encourage your consumers to make a purchasing decision. Studies show that firms that used Virtual Reality in their sales process had an average rise in sales of sixteen percent.
Reduce travel expenses by 31%
Adding VR Showrooms and Virtual Product Presentations to your sales materials allows potential customers to experience products and services from anywhere, at any time, significantly minimizing the need for frequent sales meetings and, as a result, travel expenditures.
Increased visibility by 48%
You boost the likelihood of potential consumers converting by making the appearance and feel of your products and services more perceptible to them. Physical retailers that include an extra VR Showroom can boost qualified leads by 48%.
Marketing & Entertainment in Virtual Reality
To generate sales, raise brand recognition, and retain consumers, create an amazing and engaging Virtual Reality experience.
Make your brand come to life.
Customer expectations are always changing. At the same time, it is getting increasingly difficult to be remembered in the face of an overabundance of media and consumers’ decreased attention spans. The solution is virtual reality: excite your consumers, engage them with your products and brand, and make your message stick in their brains.
Measurable Success via Engaging Experiences
Decision making has been eased by 75%.
Customers are more likely to purchase your products, services, and brand if they can interact directly with your items and brand in a defined “realistic” setting.
Increased brand awareness by 49%
Virtual reality in marketing and entertainment not only increases revenue, but it also raises brand awareness. according to a Touchstone Research survey, 80 percent of customers are pleased about witnessing branded VR approaches.
Increased emotional connection by 230%
The high level of immersion and involvement provided by virtual reality leads to a greater emotional connection to the material displayed, as well as your brand and products.