A Setting for B2B Marketing in the Metaverse
By Clarissa Gunadharma, Marketing Intern at Heinz Marketing
Don’t know what the Metaverse really is? You’re not alone.
To give a quick rundown, let me try to explain to you what the Metaverse means. In summary, the Metaverse is a combination of virtual worlds and augmented reality that combines aspects of the digital and physical worlds. It’s one step closer to an entirely digital economy where users can buy and sell goods across networks. Although the entirety of what it entails still remains largely unexplored, it has become a reference point of a new digital infrastructure.
What is the value of the Metaverse for B2B Marketers?
Business is all about meeting a customer’s wants, needs and demand; Industry-leaders in the B2C space like Nike, H&M, Gucci have been quick to adapt marketing strategies in the Metaverse to hone in on approaching and engaging their customers. This same concept can be applied to the B2B space as businesses continue to think of innovative ways to interact with their clients.
When the rise of the “internet” and “cyberspace” occurred, B2B marketers were laggards in adopting these digital platforms and struggled to get involved like B2C marketers did. While trade shows, product demos and client meetings continue to be pillars in the B2B sales funnel, each of these components have the potential to build upon a historically unfamiliar online routine of virtual client meetings, product demos and customer service.
The Metaverse adds a new element of creativity and customization to each buyer’s journey where lines are blurred between remote and in-person experiences. While B2C companies have traditionally had retail and store front experiences, B2B companies are now able to set up their own “storefront” in the Metaverse. It presents a new facet and opportunity for B2B businesses to expand their ideal customer profiles (ICPs) to a new customer base that may have been limited by geographic boundaries. Individuals (clients, customers) are immersed in a world where they dictate their own experiences based on needs and wants.
What can the Metaverse potentially provide the B2B space?
- Virtual Industry Conferences and Events
- Opportunities to fully interact with a client and their product through VR
- Larger scope of leads and prospecting
- Advanced product demonstrations that go beyond sharing a presentation
- Immersive training experiences
- A new, creative and innovative way to approach marketing and advertising
In a new product video for Microsoft Ignite, Microsoft’s CEO Satya Nadella recently conveyed how businesses will be able to utilize the Metaverse to “transform how we see the world but how we participate in it – from the factory floor to the meeting room. Take a look.”. From Avatars to Product Demos, this is only the beginning of what the virtual world will look like within B2B operations.
Although the Metaverse still has a long way to go to become a fully integrated digital world, multiple virtual spaces have seen great success at a smaller scale (e.g Minecraft, Roblox etc). It isn’t too late to start strategizing how your B2B business can push the boundaries of marketing in the Metaverse.
Do you think the B2B world is ready for virtual reality? How do you think it will impact B2B Marketing? Let me know in the comments!