The term “metaverse” refers to the internet’s potential for bridging the gaps between the physical and virtual worlds. It is beneficial because it links our virtual experiences with characters or avatars to our actual experiences in the physical world. Our current internet will become a “internet of places and property” thanks to this bridge, which will also produce new opportunities and user experiences.
When we talk about the B2B Metaverse, however, it is the B2B internet of places that will transform business and open up enormous potential. By enhancing these capabilities, the B2B market will be impacted in a variety of ways like –
• Enterprise Workplace with digital twins and models for collaboration • B2B Financial Transactions with tokenization, digital currency, decentralized payment models, NFT • B2B Business Development with new customers experiences, products & services showcase and Expo, matchmaking, and networking
Lets focus on the new ways and new tools to engage with customers and develop business:
1. In the B2B Metaverse, new and improved customer experiences are possible. Thanks to 3D, VR/AR/XR, AI and other communication-related social media characteristics, the metaverse delivers innovative and exciting new customer experiences. Moving from a standard 2D website to a more engaging and dynamic 3D website can help create these new consumer experiences for B2B Metaverse, as Victoria M. Frost explains in her article B2B Companies: Drop Your Website, Build a Metaverse, or participate in an existing B2B Metaverse ecosystem.
2. Collaborative Go-To-Market solution and High Potential Ecosystem: A McKinsey analysis claims that at least a dozen industries—including B2B services, transportation, travel and hospitality, health and housing—are reimagining themselves as enormous ecosystems, networks of networks that, by 2025, may total $60 trillion in the integrated network economy. It’s about working together with your ecosystem partners to give customers what you can’t do on your own to help you create and sell more goods and services! The potential of ecosystem collaboration is enormous, and it greatly aids in locating new clients outside of the realm of your standard prospecting techniques. By working with partners to sell turnkey solutions, you can also improve TTM and ROI. The B2B metaverse is the ideal ecosystem for providing the necessary digital infrastructure and collaboration tools. In addition, it will help to get your own ecosystem to matchmake & obtain valuable insights to identify the right partners.
3. Hybrid B2B Sales & Expo for Greater Agility:By 2024, hybrid B2B selling is anticipated to be the most prevalent. To be able to adapt to the hybrid move, B2B sellers are searching for the ideal balance between in-person and distant interactions, while event organizers are looking to turn transient events into a permanent community. The hybrid approach is increasingly acknowledged to offer greater adaptability and insight than traditional ones. The hybrid B2B Sales and Expo model’s playground will undoubtedly be the B2B Metaverse.
4. Innovative Distribution Strategy:Picture the next-generation of B2B distributors in the B2B Metaverse, using interactive Showrooms to highlight their multi-brand products and services across many verticals and use cases. An energy-saving showroom where customers can run simulations to choose the best goods and services for their application and budget and where several brands of HW and SW products are made available through their digital twins to bring virtual models! For local markets and clients, those showrooms might be customized! This will open up a brand-new distribution channel and speed up the usual process used by conventional distributors to develop reference designs for a select few companies.
5. Improve B2B Marketing :The B2B Metaverse’s integration of a variety of cutting-edge technologies fills an important gap in today’s digital B2B journeys: the capacity to learn from every digital interaction and piece of information with feedback loops to improve and be able to provide data, advanced B2B insights and opportunities to marketers. B2B enterprises can gain additional insight into the behavior of their consumers and the best matches by building up their own booths and showrooms inside a B2B Metaverse. As a result, they may create VIP locations with strict access controls and personalize navigational experiences, places, attire and even spaces. Setting virtual conferences in a highly participatory digital environment helps them become more visible, produce and share more information, as well as draw in more prospects.
Additionally, the metaverse offers a tremendous amount of creative possibility, which greatly increases the potential for advertising options. In the B2B Metaverse, advertising is conceivable everywhere, in an immersive fashion, through events, games, messaging, NFTs, etc. Brands will be able to contact millions of consumers with only a few clicks and identify their ideal target market. Without a doubt, B2B sales and business will change as a result of the B2B Metaverse. It already exists and is opening up enormous possibilities!