The Future of Connection and Experience in the Metaverse
The mobile internet revolutionized our lives, removing barriers to connection, spurring economic opportunities and giving way to untold personalized experiences. Now, a new wave of computing technologies promises to carry the revolution into the metaverse, creating new possibilities by bridging the physical and virtual worlds.
To understand the economic potential of connecting in the metaverse, we need only look back at how the mobile internet leveled the playing field. From creating a digital store-front, to messaging a customer across the world, the mobile internet expanded a business from beyond its physical shop and put it in everyone’s pocket.
Businesses that embraced the mobile internet early reaped the benefits, while those that lagged wasted precious time playing catch-up. Much like the shift from desktop to mobile reshaped nearly every aspect of our lives, the shift from mobile to metaverse promises to do the same for every industry imaginable.
Adoption could result in a $3 trillion contribution to global GDP by 2031, with APAC contributing nearly twice as much as the US and far more than any other region.1
“The metaverse is the next chapter of the internet,” says Karen Teo, Head of Global Business Group (Mid Market) APAC at Meta. “It’s another layer of experience that doesn’t conform to the laws of the physical world. Instead it creates new possibilities for experience and connection. Over time, it will redefine how brands and people connect.”
The metaverse will become central to how we connect online—from gaming, exercise and entertainment to shopping, real estate and productivity. Most importantly, it will redefine how we connect to one another.
People will be able to access the metaverse from many devices, with different levels of definition. Some exist today, others will exist in the future. While the metaverse is now in the ‘dial-up internet’ stage of its development, businesses need not wait to embark on their metaverse journey. They can start now with technologies that are available today.
For instance, more than 700 million people currently globally use augmented reality (AR) filters across Meta technologies every month.2
The Macallan did just that in Taiwan. Just shy of its 200th anniversary, the Scottish whisky-maker combined physical and virtual worlds to connect with a younger generation of consumers.
An on-site event titled “Tales of The Macallan” lived at the heart of the campaign, sharing The Macallan’s storied history. Only a limited number of people were able to attend the physical event in Taipei. Here, The Macallan saw an opportunity to open the experience to everyone in Taiwan through innovation.
Working with Meta’s Creative Shop, media agency Zenith Taiwan and creative agency BBDO Taiwan, the whisky-maker brought Tales of The Macallan to life in the virtual realm. Using extended realities (XR) technologies, it created an immersive and interactive experience that allowed online audiences to explore a 360-degree view of the exhibition, sharing its legacy in a novel way.
The Macallan’s experience illustrates one of the defining characteristics of the metaverse: Co-Presence. As we immerse ourselves in our experiences of choice, we have the opportunity to feel like we are together even when we can’t be. Technology will enable us to overcome physical barriers to connect virtually in a way that really feels like being there.
“As a pioneer in the whisky industry, we relentlessly pursue innovative ways of storytelling to craft incomparable brand experiences both online and offline. We’re delighted to leverage Meta’s newest solution to make the experience memorable and enhance The Macallan brand preference as well.”
For The Macallan, the benefits of connecting with consumers in the metaverse are clear: Bringing Tales of The Macallan online spurred a 7.1-point jump in ad recall and 5.4-point lift in brand perception–both well above the vertical average. This new way of experiencing content and building experiences will lead to some of the richest and most creative spaces for connection and opportunity.
In APAC, for instance, more than two-thirds of shoppers who are likely to shop on social media say they want to virtually try on products from the comfort of their home 3. Businesses have new opportunities to connect with them in a way that better suits their needs.
The metaverse offers more than a means to make upper-funnel connections. Hyundai Australia, for instance, ran a campaign that targeted mid-to-lower funnel activity. The carmaker moved the entire test drive from pavement to palm, reimagining the adrenaline-pumping, multi-sensory experience of driving the Hyundai N-range vehicles with AR. Interactive audio-visual experiences built around the unique sound and design language of each vehicle. The experience offered users an option to seamlessly take the next step: review price and schedule a test drive.
“Hyundai’s N range is founded on the feeling of fun,” says Alex Pinsuti, Head of Retail, Brand and Product Marketing, Hyundai Motor Company Australia. “Whether you’re attacking a tight and twisting hill climb or simply on your daily commute, the fun-to-drive spirit of N is like no other. This AR campaign was the perfect opportunity to demonstrate the playful, performance-driven side of the Hyundai brand by bringing to life the visceral experience of driving an N digitally in an accessible and engaging way.”
The campaign drove higher customer success rating prior to purchase intent while capturing lower funnel considerations. Among results were a 12.5-point life in ad recall and an 8.4-point life in brand awareness.
As the metaverse becomes part of our daily lives, businesses must build short- and long-term strategies. Starting today, they can begin learning about the metaverse, laying the foundations for their strategy. Understanding Co-Creation and Continuity will prove vital to their success.
Co-Creation speaks to the transition from a world brokered by platforms and companies to an equitable and inclusive world created and owned by users. People want to be seen, heard and valued. Businesses must strive to connect with and work alongside them to create a diverse and inclusive future that reflects what they value most. Creators have already taken a lead on creativity in the metaverse, underscoring the need and opportunity for businesses to create in tandem.
Businesses must build holistic, integrated solutions across multiple touchpoints, creating a seamless experience by blending new solutions with traditional media. Therein lies the opportunity to recruit and harness the power of Co-Creators along with the community that's active on the platform.
To prepare, businesses should experiment with young technologies including augmented reality and virtual reality (VR) in the near term, collaborating with creators to explore and create new formats. As with the mobile internet, embracing innovation early will pay dividends. In the long term, businesses should build immersive brand experiences at scale, creating virtual worlds that reflect their purpose and values.
“We have the opportunity to help build the metaverse with diversity, equity, and inclusion from its inception,” says Teo. “This is an enormous responsibility, but working collaboratively is one of the things that excites me most about Meta, and our role in using technology to have a positive impact on society.
Creators come in all different shapes and sizes–they can be lifestyle authorities, entertainers, comedians, artists and subject matter experts. What unites them is their independence, their humanity, and their involvement in their communities. Today, businesses, creators and developers are experimenting across Meta’s apps with virtual and augmented reality features–all of which will play a big role in the metaverse.
“It's important to continue to focus on today's opportunities by experimenting with AR and VR and finding new ways to connect with their audience," Teo says. "If you are doing that, you're already on this journey. Preparing for the metaverse is just the next step in the digital transformation story. Getting comfortable and making the most of the available creative tools will prepare you for what's coming next. Much of that is already accessible on our platforms.”
The tools that are available to create within the metaverse can realize practically any dream. From complicated gaming worlds to imaginary celestial moon scapes, the potential is endless. With that in mind, businesses must ask themselves three questions: What value can we deliver? How do we want people to feel? And how should we approach that differently in the metaverse? The answers could unlock a virtual world of possibilities.
