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The Metaverse: How Will it Affect Small Businesses?

You are now entering The Metaverse. Imagine this: VR goggles and a face to face meeting, even though you’re on the other side of the world to a customer or client. Sounds crazy? Well, that’s the future; the bridge between AI and VR for a deeper level of human interaction. So, if that’s something that you’re curious about, now’s the time to learn about it in preparation for the changes in the digital sphere. If you’re a small business, then it’s important to understand the advancement of virtual reality and how it will affect your social media marketing strategy, e-commerce and business approach. Preparation is key, so let’s delve into the world of VR and how the metaverse might affect your small business.

What is the metaverse?

It merges different digital realms into one place and it’s set to remove the need for the internet. Basically, it will create a more streamlined technology experience from a new ‘face to face’. Think about attending an event, or having a work meeting, or even trying on clothes from a shop, from the comfort of your own home. That’s exactly what the metaverse will allow!

What do we know about social platforms and the metaverse?

Facebook has told us what they’re going to change their name to: Meta. What will other platforms follow with? It’s something that all the other big ones like Instagram, TikTok and Twitter will be thinking about, but there’s nothing that’s been released about that yet. Facebook has said that they’re developing new technologies to connect and explore the metaverse. They’re even looking at equipment and opening shops to sell them. It looks like big things are coming… 

Are there any advantages?

It is mind blowing to think about the metaverse, or at least it probably is to a lot of people. There is a magnitude of potential with it, and it really does open a lot of digital doors. In that case, let’s go through the advantages that we can get from it. 

First of all, we’d probably get increased productivity. That’s because commute times would be shortened, general processes would be quicker, and that’s only scratching the surface. The creativity heightens as well when it comes to virtual reality, because the opportunities would be increased hugely. No doubt, there would be huge increased connectivity, because of how much people can see of each other so easily. Think about increased eye contact with people and visually seeing people instead of just looking at a screen, when you don’t even have to be in person…

Well, what about the potential disadvantages…?

There are some things to bear in mind about the metaverse if you’re planning for the future. Starting off, there could be tech glitches to begin with, which would hinder things. Bearing this in mind,  it’s important to prepare for all the potential issues and have a back up plan in place. When you’re thinking about adapting your business, also think about your audience; will they be able to afford accessories? Who will have new technologies available? 

How will the metaverse affect small businesses?

Now we know what the metaverse is, how social platforms are adapting, and both the advantages and disadvantages, it’s easier to answer the above question. So, how will it affect small businesses then?

The exciting thing about the metaverse in the workplace is the initial creative utilisation of how businesses and brands will take advantage of this new technology.  Depending on industry or sector, there are endless possibilities with how this can change the workplace. An example is having an improved at home shopping experience in the retail industry. Additionally, there could be simulated gym experience for personal training, and a step up from zoom deeper level of “human interaction” for meetings or networking. Obviously, everything discussed here is the result of announcements and research, so no one knows for sure what is to come. It’s interesting to think  about though!

The future is exciting for small businesses – what do you think about the metaverse?

Here at Alcimi, we modernise businesses through digital transformation, and we can help prepare your small business for the future of VR. Get in contact and say hello today to see how we can help you!

The Metaverse
Author: Amy Williams
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