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Generation Metaverse: How to address future buyers in the Metaverse
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51% of users across the entire Metaverse market are now aged 13 and under and are mainly active in gaming worlds such as Roblox, Fortnite and Minecraft. While this target group currently uses the Metaverse primarily for virtual learning and gaming, scenarios such as purchasing physical or virtual goods and participating in events in the Metaverse will also be relevant for this generations of digital natives in the future.
Let’s talk generations
The grouping of people into different generations is based on their birth period and brings together individuals with similar traits, behaviors, and values. The time frames for each generation can differ significantly depending on the region. Here is a rough classification:
Baby Boomers: 1946–1964
Gen X: 1965–1979
Gen Y (Millenials): 1980–1994
Gen Z: 1995–2010
Gen Alpha: 2010 onwards
Digital natives who have grown up with technologies and the Internet include the Millenials as well as Generations Z and Alpha. Generation Alpha has been exposed to smartphones, tablets, social media, voice assistants, and artificial intelligence since childhood, making them the most heavily influenced by digitization. Their purchasing habits are predicted to be even more digitally-focused than those of previous generations.
The Metaverse is more than gaming
Gaming and online games, in particular, have played a significant role in the development of Metaverse technologies in the past. Although gaming is currently one of the most popular activities in the Metaverse, the applications of Metaverse platforms are not limited to gaming. In a study by the consulting company McKinsey, a large percentage of Generation Z respondents still said they were engaged in gaming. Fitness, education and shopping are popular among Millenials, while Baby Boomers also shop on the Metaverse.
These insights point to a growing need among consumers to interact with companies – far beyond gaming.
- 62% of consumers have already explored one or more virtual brand experiences,
- 36% are eager to see technology providers enter the Metaverse,
- and 30% are excited about offers from fashion and luxury brands.
Gaming has familiarized consumers with the Metaverse – now it’s time to meet the demand for valuable applications for the future business generation. Interest in virtual events and concerts, the purchase of (digital) goods, and interaction with other people is exceptionally high. Gamification and game elements can help motivate and engage potential customers
Best practice examples from the telecommunications industry
The goal of many companies is to build a strong community that identifies with the brand and forms a connection at a young age. Thanks to touchpoints such as events and gamification through rewards for achieving certain goals, customer loyalty can be built with digital natives at an early stage. You can, for example, hold concerts in the Metaverse or offer challenges and virtual promotions.
Deutsche Telekom, for instance, is already successful in the Metaverse. “Beatland” gives users the chance to experience electronic music and various mini-games – a fun way to introduce young users to the brand. Telekom customers from the business sector are also attracted by virtual events and consulting services in the Metaverse. In the Telekom “Magenta House”, a realistic 3D environment shows how different smart home devices are linked together. These can be discovered with the help of a search game.
Tomorrow’s customers are technology-savvy and value innovation. This means that providers can establish a positive image through innovative Metaverse offers that improve customer experience and inspire users. 3D avatars, virtual assistants or Augmented Reality, for example, can contribute to making the shopping experience in the Metaverse more interactive and exciting. This is why many companies are already working on stores and branches in the Metaverse – including Deutsche Telekom and a Dutch telecommunications provider.
Millennials and Gen Z are used to personalized content and experiences from online shopping. It is therefore worthwhile to provide personalized offers and interactions in the Metaverse that are tailored to the individual needs and preferences of the user. For example, you can offer their avatars personalized clothing, accessories, or digital items that match their interests.
rooomPortal connects generations
A portal that transports you from a classic retail store straight into the Metaverse? AR makes it possible. With the rooomPortal, both younger and older customers can experience a new touchpoint with the Metaverse. Creates an appetite for more!
Digital Natives have grown up with social media and value interaction with other users. Companies can create special spaces or events in the Metaverse that are designed to enable users to network and get in touch. Here, you can organize collaborative Virtual Reality experiences or meetups in the Metaverse, for example. Vodafone, the Düsseldorf-based telco group, will in the future use various Metaverse environments for employee training and development in order to provide the best possible support for individual training goals. Features such as voice chat and interactive sticky notes encourage participants to interact with each other.
The topic of sustainability is also important in the Metaverse. Younger generations in particular show an interest in sustainability issues and attach importance to environmentally friendly offers and socially responsible companies. Of course, sustainability initiatives can also be launched in the virtual space that appeal to this target group and reflect its values. For example, Telekom uses the labels #GreenMagenta and #GoodMagenta to show their active commitment to environment and society.
Worth reading
In a chapter of the “CSR, Sustainability, Ethics & Governance” book series, rooom CEO Hans Elstner, together with Telekom TechBoost, provides insights into how companies can use digital solutions in the interests of sustainability.
In addition, it should be ensured that the Metaverse technology used is also compatible with the company’s own sustainability requirements. Web-based applications make use of the respective technical possibilities of the end devices, while so-called pixel streaming requires high resources on the server side. This means that the more participants there are in a 3D space and the more complex its design, the more server power is required. A web-based platform like rooom is the more sustainable solution.
How real business thrives in the virtual world
The Metaverse is far more than a gimmick. Benefits and application scenarios for product manufacturers and service providers are clear and will continue to develop significantly in the future. Even though generations Z and Alpha may not be “cash cows” at the moment and bring in high revenues – they are tomorrow’s customers. Those who take this to heart and address their needs can be rewarded with strong customer loyalty later on. The Metaverse plays an important role as a new marketing and sales channel. In order to address potential buyers in the metaverse, you should know the needs and expectations of your target group and create added value accordingly.
Our top tips in a nutshell:
- Develop inclusive experiences for all generations – with content adapted to target and age groups.
- Start thinking about tomorrow’s customers now: Digital natives are primarily interested in shopping, socializing and gaming.
- Create smooth transitions to your traditional business.
- New creative approaches should place particular emphasis on interaction, personalization and sustainability.
What is the right Metaverse strategy for me?
Our team is on hand to offer advice and support when it comes to developing Metaverse strategies and concepts. In a Discovery Workshop we will find a suitable solution for your company.
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