Marketing and Sales in the Metaverse

Understanding and Profiting from the Metaverse: An Introduction for Businesses

verfasst von: Andreas Kohne, Ralf H. Komor

Verlag: Springer Fachmedien Wiesbaden

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

Inhaltsverzeichnis

Über dieses Buch

This book brings clarity to the new, often still opaque world of the Metaverse. It concisely shows how the business areas of sales and marketing can specifically unleash their potential within it. Develop a fundamental understanding of the key terms and tools of the Metaverse with this book, and learn how Augmented Reality (AR) and Virtual Reality (VR) can shape the future of your business – and how you can optimally present and sell yourself in virtual worlds. With numerous use cases, strategies, and best practices, you will be well-equipped to help shape the Metaverse of tomorrow today.

Inhaltsverzeichnis

Frontmatter

Chapter 1. Introduction

Abstract

Many talk about it, but few really know what it is: the Metaverse, or in German: das Metaversum. Derived from Greek/Latin, it means something like “beyond/above the real world”. According to a study by Statista, 41% of respondents in Germany have already heard the term, but few can explain it; and (currently) almost no one uses the Metaverse (Statista 2022). After a brief internet search, one could almost get the impression that the Metaverse is primarily pink and purple and consists of animated figures. In addition, one learns that many technologies with incomprehensible abbreviations play an important role: AR, VR, MR, XR and many more. Also, Facebook has been called Meta for a few years and develops hardware and software for the Metaverse. And additionally, the Metaverse seems to also have to do with cryptocurrencies, NFTs, and Web 3.0.

Andreas Kohne, Ralf H. Komor

Chapter 2. Basics

Abstract

Mark Zuckerberg once said one could imagine “the metaverse as an embodied internet, where you don’t just look at content, but are immersed in it” (Süddeutsche 2021). However, long before the metaverse, researchers were exploring virtual experiences. The first real simulation was developed as early as 1962. With the “Sensorama”, a machine was invented that allowed the user to ride a motorcycle through New York, while a 3D film of the surroundings played in front of them, the chair vibrated appropriately, and even fans were used for headwind and the corresponding smells. Since then, we have come a long way and technology has rapidly improved, especially in recent years.

Andreas Kohne, Ralf H. Komor

Chapter 3. Why We Are Not yet in the Metaverse

Abstract

After explaining in the previous chapters what constitutes the Metaverse, how it is composed, and what technologies it is based on, this chapter explains why the Metaverse in its full form is not yet available and why this is likely to take many more years.

Andreas Kohne, Ralf H. Komor

Chapter 4. Why It’s Still Worthwhile to Engage with the Metaverse Today

Abstract

The preceding chapters described what the Metaverse is, how it is structured, and why we have not yet fully arrived in the Metaverse today and in the near future. Nevertheless, we are on the way and the speed of developments is increasing year by year. So it’s not a question of “if”, but only a question of “when”. Therefore, companies should already now critically engage with the Metaverse and examine in which areas potential added values could lie.

Andreas Kohne, Ralf H. Komor

Chapter 5. Impact of the Metaverse on Sales and Marketing

Abstract

Since the existence of e-commerce, the exponential development of technology has revolutionized the way we consume goods and services. Powerful computers, fast internet, mobile devices, social media, and data-driven marketing have radically changed the consumption process. And now, in the age of the metaverse, a new dimension of personalization and interaction is opening up, transforming our shopping behavior once again. The metaverse: An estimated market volume between 500 billion (Statista 2023) and 5 trillion US dollars (McKinsey 2022) in 2030 is making sales and marketing departments sit up and take notice. In this chapter, we answer the question: What impact does the metaverse already have today on sales and marketing?

Andreas Kohne, Ralf H. Komor

Chapter 6. Kickstart for Businesses in the Metaverse

Abstract

Taking the step into the metaverse may sound like a futuristic vision, but it is already possible today. In this chapter, we present a comprehensive approach that aims to encourage those responsible and interested to position themselves not only theoretically, but gradually and practically in the metaverse. We not only highlight the potential benefits and opportunities, but also the diverse challenges and risks that need to be considered—and point out relevant technologies that companies should have on their radar in order to be able to operate successfully in the metaverse. However, there is no universal recipe. Which technologies and platforms are relevant for you also depends on your industry, your target group, and your goals.

Andreas Kohne, Ralf H. Komor

Chapter 7. Opportunities and Risks

Abstract

New technologies offer immense opportunities, but at the same time, they also pose risks. In this chapter, we present the greatest opportunities of VR and AR technologies: customer-centric marketing, more emotional customer experiences, a stronger brand perception, and significant revenue potential. On the other hand, we also uncover the greatest risks: challenges posed by the advancing deepfake technology, security and data protection concerns. With this, we aim to provide guidance for decision-makers who are increasingly dealing with entrepreneurial perspectives in the metaverse.

Andreas Kohne, Ralf H. Komor

Chapter 8. Information, Links, and Checklists

Abstract

Now that you have gained a comprehensive overview of the metaverse, its underlying technologies, and the associated opportunities, we would like to provide you with useful resources, links, and checklists in this final chapter. These are intended to serve as valuable tools with which you can optimally start your entrepreneurial engagement in the metaverse. Although the information compiled here is not complete, it nevertheless provides a solid overview and can serve as a guide for further steps. We hope that these resources will be of use to you in the successful implementation of your entrepreneurial activities in the metaverse.

Andreas Kohne, Ralf H. Komor

Titel: Marketing and Sales in the Metaverse
verfasst von: Andreas Kohne
Ralf H. Komor
Verlag: Springer Fachmedien Wiesbaden
Electronic ISBN: 978-3-658-45970-3
Print ISBN: 978-3-658-45969-7
DOI: https://doi.org/10.1007/978-3-658-45970-3