February 6, 2023


The metaverse may be a new niche in the retailer consumer experience, but it’s off to a disappointing start becoming a business communications outlet.

The consumer fascination for today’s metaverse signals a significant shift in the way people use technology. If the metaverse begins to exist and operate in totality, marketers clearly shouldn’t miss out, says Marcel Hallerbach, co-founder and chief innovation officer at product-to-consumer (P2C) platform firm ProductsUp .

Hollerbach suggests that this could become the focus of change in how we conduct business in the workplace and how we engage with colleagues to complete daily tasks.

According to some early industry accounts, consumers care about the metaverse and are increasing their knowledge of it. In fact, 47% of American consumers can define the metaverse relatively accurately.

This makes it essential for marketers to gain proficiency in navigating the metaverse to reach consumers. Industry watchers estimate that by 2026, at least 25% of people worldwide will spend at least one hour per day in the metaverse for digital activities, including work, shopping, education, social interaction or entertainment.

If that prediction is to materialize, organizations will need to understand the mechanisms of the metaverse and how to market to consumers within it. As in the dot-com era, companies that do not come to market with this new technology will be considered laggards.

“There are two things for brands to know about implementing their products in the metaverse. First, ignore the pessimistic view that the metaverse is dying and not profitable. Second, brands can still drive product sales and overall workplace efficiency. actively engage in the metaverse for,” Hollerbach told TechNewsWorld.

commercial use

Meek Jordan, ProductUp’s chief people and culture officer, predicts that the metaverse will drastically change the 9-to-5 routine in workplaces. New technology will transform how teams communicate in a post-pandemic world at large.

Creating a virtual space for employees to interact in both the office and remote locations is just the surface level. Over time, the metaverse could change how employees do business, undergo training, and communicate with others both internally and externally, Jordan said.

However, the metaverse as a business tool is far from being on solid ground. 2022 was the year of experimentation for marketers, and chances are that won’t change in 2023.

Many advertisers have struggled to find new ways to connect with audiences. Marketers also faced inflation, economic uncertainty and ever-changing data and privacy regulations, according to Nancy Smith, CEO of Analytic Partners, a commercial mix analytics company.

For this year, she predicts that the metaverse will not be scalable, pushing brands back to real-life experiences. While many marketers have felt compelled to enter the metaverse to explore and experiment, virtual channels will not be the right way to attract customers in 2023.

“Audiences have been starved for human connection for more than two years now, and brands that can leverage engaging, in-person experiences will have the upper hand,” Smith told TechNewsWorld.

opportunities still shaping up

Brands also need to learn that the metaverse is not a quick-profit opportunity, suggested Johan Liljeros, general manager and senior commerce consultant at Avensia, an omnichannel commerce strategy services company.

“The development of Metaverse is a long-term investment. Gen Z and Gen A will be the drivers, and they will continue to grow as the generation becomes a stronger economic force,” Liljeros told TechNewsworld.

He added that it will affect the older generations as well, as the younger generations introduce them to that technology. He believes that older generations will use the technology around the Metaverse, or the Metaverse itself, for experiences, travel/tourism, health and shopping.

Liljeros sees brands increasing sales of their consumer goods within the metaverse. Opportunities include selling digital representations of products like fashion and makeup, buying advertising space in games, or AR environments where you can now buy airspace for your ads or coupons.

“Not only will the audience continue to attract retailers and brands, but the Metaverse also creates a more immersive and social shopping experience where you can literally go shopping with your friends and loved ones,” he said.

Misguided or Lost Technology?

Mark Zuckerberg announced the vision of Facebook’s Metaverse in October 2021. Its development is still far from that vision. Meta’s recent moves fuel the narrative that the metaverse is doomed given Meta’s losses in the stock market [since October 2021] and company [recent] Significant layoffs, Hallerbach observed.

“However, brands need to recognize that the metaverse is a major digital transition like the internet. Once established, early adopters of the metaverse will benefit,” he said. “Despite all this, Meta announced that it will spend 20% of its costs in 2023 on development for Reality Labs, which is Meta’s Metaverse group.”

From a company culture perspective, the metaverse offers a potential opportunity to address a major issue that has plagued workplaces since the start of the pandemic — employee engagement, Hollerbach offered. Most employees are tired of staring at screens and talking back and forth with little or no opportunity to interact with each other.

“With Metaversal’s capabilities, normal operations can be conducted remotely, but ‘metaversal’ capabilities provide the opportunity for more employee interaction,” he countered.

factors to fix marketers

According to Hallerbach, marketers and retailers recognize the potential of the metaverse. Some 56% of media buyers are investing in or considering metaverse advertising and marketing initiatives.

He suggested that the hesitation of 44% of marketers and retailers to fully implement their organization and products in the Metaverse is a wait-and-see strategy to see what the Metaverse can do with their product. What’s missing so far is a standard way for retailers to get involved as the Metaverse hasn’t been fully rolled out yet.

One of the biggest benefits marketers and retailers can count on when they invest in Metaverse is complete control over a product’s online presence. Customers can interact with products, research the brand’s mission statement and goals, and even play games virtually.

“Currently, the technology to create such an immersive experience is still under development. But this is the biggest benefit I see for retailers and marketers,” Hallerbach opined.

Transforming Traditional Workplace Operations

Hollerbach is confident that after two years of using videoconferencing technology like Zoom, being able to interact with other employees in the metaverse will be a welcome addition to an organization’s tech stack. It will offer a level of peer-to-peer personalization.

But how organizations implement using the metaverse is an important process. Execution should be done methodically, unlike what happened at the beginning of the pandemic.

“It should be used in a way that provides real value to employees. Nearly a year after the initial announcement of the Metaverse, there are few concrete examples of continued ‘Metaversal’ use by companies,” he said.

By slowly working it into the core structure of remote working and taking time to understand what works and what doesn’t, employees will become more accustomed to using the technology and more receptive to its purpose. From the very beginning the goal was to increase the level of people-to-people contact.

“By meeting that goal specifically in the workplace, Metaverse aims to combat employee burnout and videoconferencing exhaustion, as well as make remote or hybrid employees feel more connected to their organizations,” he offered.

budget and timeline

Metaverse is still developing key technologies to make the final product possible. Technologies such as 5G, AI, edge computing, AR and VR are still not advanced enough to create a virtual environment as envisioned by Zuckerberg in 2021, according to Hallerbach.

He advised that another aspect which is often overlooked is that the technology should be sold at a reasonable price. Otherwise, adoption would be a long process due to budgetary constraints.

Market conditions are forcing companies to focus more on their core business and less on experiments. This is the main driver of the slowdown in the adoption of the metaverse, he warned.

“Some experts are suggesting 2040 as a date when we can begin to see what the metaverse is capable of itself. I believe that is a fair assessment,” Hallerbach concluded.

There is nothing more embarrassing than sharing or forwarding something you think is true and then being criticized because whoever received it knows better and thinks you are an idiot.

When I worked for a multinational company, I used to send out an email newsletter of things that I found interesting and relevant to our work. As long as I forwarded something about my company that wasn’t even remotely true because I didn’t verify the source, people were fine with it. That was the end of my newsletter, and suddenly I had a whole lot of executives convinced I was an idiot. This didn’t do my career any good.

This was before we had the internet, though we had email, and things have gotten worse since then. Now we can announce our stupidity not only to our boss and colleagues but to family, friends and thousands of people we have never met on social media.

None of us have time to research or fact-check every piece of information that comes our way. If you’re like me, you find a lot of things that aren’t true.

Today, fake news covers politics, medicine, investing, cryptocurrencies, science, and even dating (here’s a boy in Oregon using dating apps to kidnap and rape women). Also, there are frequent competent attempts to trick us into providing information that could result in identity theft.

How do you fix this problem? OtherWeb is a fascinating effort to help people access the truth, not by moderating fake news, but by helping you fact-check it yourself, so you can determine whether or not the information is fake as you process it. are part of.

Let’s explore the otherweb this week. Then we’ll end with our product of the week: a new smartphone from Samsung that’s a cut above the rest when it comes to video making.

fake news

Right now, one of the problems with fake news is that many people use that designation for anything they disagree with or feel bad about when the term should only be used when the news is false or misleading. Are. Furthermore, there is often disagreement as to whether a piece of information is incorrect.

For example, there are a number of stories that indicate that Earth’s core has not only stopped rotating but may have started rotating backwards — and recently, another credible source says it’s all BS. Is. Now, if you’ve seen any of the movies that suggest the event will end the world, having the Earth’s core spin backwards is certainly scary.

Recently, I read an article on Forbes that argued that all other articles are BS because the people who wrote them didn’t understand the study they based their articles on. Can you imagine casually bringing up this topic with someone you were trying to impress, only to have that Forbes article shoved in your face with the implication that you are clueless?

I’m not saying that either situation is perfect, though, since while we’re still here, the “end of the world” scenario looks off the table (good news for a Monday). But had you known both articles existed, you could have nuanced your comment, chosen another topic, or taken a side and made a more credible argument – ​​repeating fake news Rather than getting caught, even if you heard it from what some consider to be a false reliable news source.

An obvious improvement is to stop bringing up topics you don’t directly know about. Sometimes, it just seems like the safest route. But we still make decisions based on what we read, so knowing the risks of taking what we read as truth allows us to make better choices not only about what we share but how we share it. meets.

other web solutions

That’s what Otherweb attempts to do. It’s a news-focused network like Twitter, but with an emphasis on making sure you have the information you need to determine whether a story is true. It allows you to choose trusted sources to build your feed, and it uses transformative AI to scan relevant pieces of news and correct headlines.

How many times have you clicked on a link on Google thinking the story interested you, only to find that the title has nothing to do with the content?

Otherweb also summarizes the article in bullet form so you have a brief overview on the content, which can save you from wasting your time on the site, and you can use the sliding bar to see what type of content you want. .

Unlike most other such services, which use someone else’s search engine (usually Google), OtherWeb has its own, and at least for now, it is not ad-funded, so search results are not included in the list. The medium has neither the desire nor the need to optimize advertising revenue. , You get close to what you want to find without having to dig through all those paid and prioritized results that make your search that much harder.

Be aware that, at present, Otherweb has not worked out its revenue model and will wait until its user base grows to critical mass before surveying it to figure out how to monetize the service. This means the firm is limited in terms of funding, and there will be changes that may include fees to use the service or advertising to fund it. This will probably end up as some kind of hybrid model where you can choose to pay and use the service without ads or get the service for free but with annoying ads.

The OtherWeb will never be the financial powerhouse that Google is, but given its differentiator is accurate news, it should be able to better balance the needs of advertisers with the needs of users. I would still recommend paying for the service to remove the possibility of your results being contaminated by any attempt to maximize advertising revenue.

wrapping up

In my business, fake news is a career-ender, so I’m always on the lookout for services and sources that can help me identify and avoid it.

Right after 9/11, I saw “Loose Change,” a very well done conspiracy video that argues convincingly that the US was behind the attack on the twin towers. I almost became a believer because I had never seen such a well made fake story. Luckily, the one person I spoke to about it immediately set me straight, and I haven’t written a column that will forever make me an idiot. But it was a very close call.

While still in its infancy, it seems that Otherweb does a pretty good job of helping me determine if a story is fake, thus protecting my reputation from otherwise silly mistakes.

Another interesting aspect of this service is that it is completely open-source and collaborative. So that anyone wanting to do something similar but with a different spin can do so, showing that the people behind this app are less interested in revenue than in fixing the fake news problem.

Check out otherwebs if you get a chance. Log-in is required, so you must sign up with the site in order to use the service. We have very few people and companies focused on making the world a better place, and I want to see that change.

Maybe you too can avoid that next embarrassing moment where you face criticism for repeating a fake news story you didn’t know, but you should have known, was a hoax.

tech product of the week

samsung galaxy s23 ultra

Samsung is an interesting company and one of the few that has the potential to compete with Apple head-on. To date, Samsung has underperformed its potential because making its stuff work together doesn’t seem to be a priority, at least for now. I think this was the big news at the Samsung Galaxy Unpacked event last week. It’s started working “better together”, and it’s doing it better than Apple.

The difference is that Samsung products still work with other vendors’ products but still work better with other Samsung products, whereas, often, similar offerings from Apple Only Apple products that substantially limit Apple’s total addressable market (TAM).

For example, the Apple Watch, which is still the best smartwatch on the market, won’t work with Android phones, which limits the TAM for that watch to about one-third of what it might otherwise be. Samsung usually avoids that limitation, and its smartwatches are catching up to Apple’s.

But Samsung really hit it hardest last week with its Galaxy S23 Ultra. The picture and video quality of this new phone can output up to 200 megapixels for photos and 8K and 30 fps for videos, which is in line with professional cameras and can be used on almost any kind of high quality professional-grade camera. Can be used to make movies and pictures. Light.

samsung galaxy s23 ultra

Samsung Galaxy S23 Ultra will be available on February 17, 2023. (Image credit: Samsung)

Its seamless connection to laptops, especially the Book3 series announced at the event, will make a professional photographer take notice because they’re transferring RAW files, not the compressed files you usually end up with. I was a professional photographer, and even my experts couldn’t do what this phone could do.

The Galaxy S23 Ultra has a Pro-Video mode that opens up all the settings. Assuming you know what you are doing, this allows you to create amazing pictures; If you don’t, it uses AI to do all that for you. I’m pretty sure a non-photographer with this phone could go way beyond what I could do as a pro at the time.

decent mechanical digital image stabilization, advanced high-speed focusing, nightography to take great pictures in low light, and the fact that it uses Qualcomm’s most advanced technology which is a processor solution designed jointly with Samsung As it appears, this phone really stands out. Outside.

The performance jump compared to last year’s phone is pretty extreme, too, with a 34% jump in CPU performance, a 49% jump in NPU performance (AI), and a 41% jump in graphics, making it a gaming flagship. Smartphones and showcasing is a big part of it. How far has it come. Oh, and it has a 1,750-nit display that’s huge and should allow you to do things in bright sunlight that you can’t do with your current phone.

Granted, as you’d expect, it’s not cheap to date, with a list price of just under $1,200, but if my heart doesn’t have lust for this phone, this is my product of the week.

Well, I’ve been impressed with the amount Samsung spends on launch events in the past, but less impressed with the execution. Samsung executed this latest launch event almost perfectly, and credit goes to the team that prepared it. They spent more time pointing out why you want a certain feature than device speed and feed, which has always been a best practice. Nicely done! it’s worth seeing.

The opinions expressed in this article are those of the author and do not necessarily reflect the views of ECT News Network.