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What is the future of CX in the Metaverse?
It has been evident that the emergence of the Metaverse has propelled several companies to accept the virtual world. In this article, we will share our thoughts about customer experience and Metaverse.
It has been evident that the emergence of the Metaverse has propelled several companies to accept the virtual world. Meta, Nike, and Disney - but not only - have already acknowledged this advanced new reality.
If we talk about the usage of Metaverse, Gartner report says that by 2026, approximately 25% users will be engaged in Metaverse at least for an hour. Additionally, revenue generated from the Metaverse technology may reach $800 billion by 2024, a $500 billion increase from 2020.
Metaverse will enable businesses to interact with customers in several ways. This transition indeed influences their activities, services, and what they will give to their customers. Here the vital point is how Customer Experience (CX) will look like in this virtual world.
In this article, we will share our thoughts about customer experience and Metaverse. Let's get started.
CX in the Metaverse
The Metaverse is referred to as a virtual space that is being built on a blockchain foundation. In this space, users can have access to virtual reality and several other interfaces. Metaverse aims to recreate real, or a lifelike interaction in a virtual world. This can be done by the utilization of 3D user avatars, 3D changes in physical space, realistic navigation, and artificial intelligence.
Customer experience is a powerful factor behind the perception of customers regarding how they perceive a particular brand. It is one of the important factors that play a great role in a company's success. This fact applies to all brands, whether they exist in the real world or the digital world. It gives them a chance to rethink their operations and evolve as per the changing virtual world.
Keeping the point in mind, global organizations like Hyundai, Gucci, and Balenciaga have already started investing in new technologies that will help them to stay ahead of their competitors. Prediction says that by 2026, globally 30% of organizations will innovate and get ready with their Metaverse-friendly products.
Brands must consider the below-mentioned things before diving into the Metaverse.
1. Evaluate the potential of Gen Z and millennial markets
Before exploring the digital world, it is quite important to tap into the tech-savvy audience that is all about technology, such as Gen z and Millennials. These generations are already aware of the operation and evolution of technology. Thus, introducing Metaverse in their customer journeys would be easy and less intimidating.
2. Go virtual first
The virtual world of Metaverse will provide a highly personalised and meaningful experience to its users. And here the organizations need to shift their concentration from getting digital to being virtual first.
3. Technology is always exploring and upgrading
We all know that technology never stops evolving. Thus, it implies that companies need to explore and upgrade accordingly. To engage people with the world of Metaverse, it is essential to expand the 3D technology, VR and AI exponentially. It will give Metaverse users a phenomenal experience and engagement and boost their experience.
4. Creating high-tech and engaging virtual experiences
It is very important to create high-touch and high-tech virtual experiences that can engage the users. Companies must consider inviting and presenting various opportunities to inspire Gen z and Millennials. They can do so by letting them interact with the help of events. This, in turn, would lead to their active and higher engagement in the virtual world.
5. Do research, explore, and test
Brands need to rush. They should do comprehensive research, explore, embrace, test and learn vital factors.
With the increase in tech advancement, the cross-application experience is now more important than the dependency on any specific gadget. And therefore, the technologies which will drive the world of Metaverse, need to be tested thoroughly.
Iterative testing can bring the best outcome in terms of various viewpoints of the users. Also, it can provide a clear picture regarding the cross-application performance and device independency. There will be more complex situations which should be tested. For example, in case of multiple users in the virtual environment, how they will interact. And what will be their experience if they participate through different devices. These are some of the practical situations which need deep interactive testing.
These attributes will play a major role in shaping a customer's perception regarding a brand in their journey of the Metaverse.