B2B uses of the Blockchain and the Metaverse


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When Facebook changed its name to Meta in 2021, the world took it as a signal to transition to a new digital frontier. The metaverse – a different world that exists entirely online – is the central theme of the social giant’s rebranding.

Meanwhile, companies around the world have started investing in the metaverse. H&M and Gucci have pioneered the use of virtual reality to sell bespoke products to customers. The Musée d’Orsay in France has installed virtual reality spaces that viewers can watch from the comfort of their rooms. Walt Disney Studios has filed a patent for its ongoing Metaverse theme park.

For companies selling products directly to consumers, metaverse investments are considered vital as everyday consumers are increasingly likely to patronize companies that adapt technologically. But does the phenomenon also apply to companies that cater to other companies?

In other words, is the B2B market forced to dip its toes into the metaverse just because of the hype? Or is it still more lucrative to stick with traditional ways of marketing even looking 10 years later?

Metaverse and virtual reality

As with most previous emerging technologies, the Metaverse and VR have shown that B2B marketers have a lot to gain from investing in it. The metaverse has been touted as the new big tech breakthrough: think of the mobile revolution or the dot-com boom. It comes with a new, plain and simple way to market and advertise to consumers and businesses.

VR technologies such as hardware and software design are potential B2B product spaces. The pandemic ushered in the modern version of a physical meeting: video conferencing. The relatively young industry is likely to mature as companies see it as an effective tool. Companies large and small are outfitting their meeting spaces with virtual products such as VR headsets, glasses, flat screens, software, TVs, collaboration tools and more.

If the Metaverse becomes a full-fledged reality, then B2B vendors would be required to provide remote support, immersive training, and increased participation in manufacturing, selling, marketing, and acquiring B2B products and services. between the stakeholders. Customer support and customer experience services are more acceptable to customers if vendors are adept at metaverse operations rigor.

Because B2B marketing thrives on product research and development, the metaverse opens up new avenues to get businesses to buy into their offerings. Customers don’t need to be physically present to experience the full and direct impact of B2B media. Once virtual sites become mainstream, customers can view 360 degree angles of items for sale.

Additionally, product testing is commonplace in B2B marketing. In the Metaverse, creators can craft a product experience tailored to a customer’s unique needs, challenges, and concerns. Logo creation tools, for example, can present a virtual version of a logo creation process. Ultimately, this approach will lead to improved results without wasting unnecessary costs on testing and trials.

In the metaverse, the “show, don’t tell” technique will be the real differentiator from traditional forms of advertising and marketing. Too many stories lead to low conversions, but the Metaverse and its fleet of VR possibilities can arm a B2B company to show and showcase a stunning experience or personalized reality.

Blockchain and Web 3.0

Blockchain entry is not new to cryptocurrency, but it is now seen as a viable tool for more important things than currency, such as document storage, finance, museum and government records. , intelligence, military information, etc. Is there an urgency for B2B spaces to accommodate a largely speculative industry like blockchain technology and the broader Web 3.0?

The truth is, blockchain is driving the future of the internet. Although blockchain is in its infancy, we cannot let go of its role in the emergence of cryptocurrency, which is being adopted by major brands and other financial institutions and government agencies. How can business owners take advantage of these services. Is there even a slight utility to the technology for B2B brands?

Because blockchain is a secure technology for storing data between multiple owners, it is a viable technology for shared supply chain management and storage. The immense security and difficulty of access make it a perfect tool to improve collaboration between multiple parties and to help management teams manage disputes and resolutions effectively despite varying distances and differences in services.

Blockchain’s best-selling asset, security, allows most data companies and other service providers to use it for long periods of time. It ensures the longevity and security of data, customers and other stakeholders. This explains why many companies form fully customized service combinations using blockchain as their primary storage and sharing engine. Big data-driven companies are usually on the front line: data centers, software technology companies, artificial intelligence centers, e-commerce stores, etc.

Now that early adapters are on the rise, blockchain is poised to become a $2 billion industry over the next three years. 82% of Fortune 100 companies are exploring the possible implications and usefulness of emerging technology. This includes the top 50 companies, major accounting firms, and at least one top tech giant: IBM, uses blockchain to power its TV commercials for enterprise cloud services.

A complicated but promising future

It will be years before ordinary consumers can feel and experience the effects of metaverse and blockchain technology in everyday life. Today’s phones and laptops were alien 10 years ago, and now they’re ubiquitous tools. And, as always, B2B companies will need to take the first steps necessary to acquire and improve the technology before B2C can bring it to market and implement it for everyday consumers.

More Resources on Metaverse and Blockchain in B2B Marketing

What does a B2B marketing team look like in the metaverse?

The Impact of Digital Currencies on Future Marketing Efforts: Jeremiah Owyang on Marketing Smarts [Podcast]

Blockchain 101: What Digital Marketers Need to Know

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