Blog
21.09.2022
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Julia Loeser

The Metaverse: Status Quo and Opportunities for B2B Companies

Unknown digital worlds? A study by Civey on behalf of Teamviewer shows that around 69 percent of respondents in Germany don’t know what theMetaverse even is. This needs to change, as the use of virtual spaces is on the rise. After Christopher Klee's previous blog post presented the basics and the current status of the Metaverse, this post looks at the current ecosystem as well as opportunities for B2B companies.

 

Metaverse on the Upswing

Whether corporate events, concerts or meetups: more and more events in the B2B sector are being held in the Metaverse. Just recently, for example, Santander Bank virtually staged an entire awards ceremony. This shows that they are ready to digitally map even complex worlds. Not only the event sector, but also numerous other industries could be greatly changed by the Metaverse.

One example is the travel industry. According to a survey by the digital association Bitkom, one fifth of Germans could already imagine taking a holiday in the Metaverse. What's more, a third of people in Germany are curious about the Metaverse, as another Bitkom study from the beginning of the year shows. At the same time, the Metaverse has not yet arrived everywhere: For the vast majority of the population (81 per cent), virtual worlds are still merely futuristic visions. 

 

Investors Accelerate Scaling of Business Models

This means that even though the technologies for creating complex 3D worlds are already available, a rather small group of people is familiar with and uses the Metaverse. There is great potential here, which is also seen by investors who are increasingly discovering the Metaverse for themselves – whether for real estate purchases or classic venture capital. 

Specialised investors such as Metaverse Ventures or FOV Ventures are getting involved, as are more broadly positioned VCs such as Verizon Ventures, Play Ventures or Janus Henderson Investors. With their investments, they ensure that the corresponding business models are scaled and the innovative technologies are made accessible to the general public more quickly. The current slump in cryptocurrencies might make now a good time to invest in Metaverse projects, as beinpcrypto, among others, writes. The current market situation with little capital favors long-term, serious projects.

 

Usage Examples Are Ready – No Matter for What Device

There are already enough practical examples of useful applications of the Metaverse, as the Metaverse company rooom from Jena, among others, proves. Whether virtual showrooms, 3D product presentations or digital learning environments or events – a wide variety of industries can benefit from virtual rooms. Product manufacturers and fashion companies have the opportunity to present their products three-dimensionally and thus take their e-commerce offering to the next level. Real estate companies can not only reach many more people through Metaverse representations, but also address their target groups much more efficiently than through conventional viewings alone. Event managers also benefit from the new possibilities of the Metaverse, as their reach is significantly increased by it. They can engage people worldwide with their virtual events.

But even sectors that are not the first to come to mind when using the Metaverse can benefit massively. For example, complex laboratory environments or special equipment can be presented virtually in detail using the new technology, ideal  for life science and biotech companies to convince medical technology experts and investors of their product.

 

B2B Marketing in the Digital Space

Marketing in the digital space also offers special potential for B2B companies. This is because various elements of the B2B sales process – e.g. trade fairs, product demonstrations or discussions with potential customers – can be easily reproduced in the Metaverse. In this way, products can be experienced much more intensively and comprehensively than would ever be possible via photos and videos. Even if million-dollar deals will certainly not be struck via the Metaverse alone in the immediate future, the Metaverse does expand the sales options of companies considerably – and those responsible should start using these channels now in order not to lose any sales opportunities.

 

Conclusion: Being a Part of the First Movers and Early Adopters

The Metaverse will increasingly influence B2B business in the coming years. The technologies are ready to map sales and brand-building measures in the virtual worlds and thus offer (potential) customers, investors or partners a better impression of their own business and products. Companies should therefore look for experienced partners with whom they can take the first steps in the Metaverse now in order to be the first to profit from its advantages and to inspire a digitally savvy target group today.

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