A customer experience revolution is underway
Hype surrounding the metaverse skyrocketed in 2021, prompted in part by Facebook rebranding as “Meta.” But 18 months on, there’s still limited consensus on when the metaverse will arrive, who will build it, or even what it is.
At one end of the spectrum there’s the purist’s definition – a persistent, universal, immersive reality, experienced through virtual reality (VR) and augmented reality (AR) headsets. At the other end, the metaverse is simply an evolution of the internet that facilitates richer, more immersive interactions.
Whatever shape the metaverse ultimately takes, one thing is clear – customer engagement is transforming in parallel with the metaverse’s evolution, driven by changes in both technology and customer behavior.
Artificial intelligence (AI) is automating and enhancing almost every step in the customer journey. In financial services, for example, customers can now open bank accounts and set up mortgages using digital identity verification. Next-generation digital assistants deliver sophisticated, always-on customer support, and intelligent interfaces provide new and exciting ways to engage with customers beyond the screen.
Digital business models are also evolving, with retailers setting up advertising networks and brands offering subscription options, all so they can build deep, direct customer relationships. Immersive shopping experiences are gaining traction and next year we expect to see digital avatars that enable you to try before you buy hitting the mainstream.
Everywhere we look, the customer experience is evolving. These changes will enable digital leaders to test and learn how best to differentiate offers throughout the customer journey.
The experiences they create will generate reams of customer data, which can be used to drive personalization in the product and service, and the wider experience. The businesses who get this virtuous circle right will have a significant competitive advantage.
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