Metaverse is the new buzz among marketers. It is an exciting platform that comes with a lot of potential for creative marketing tactics. And, we are yet to determine the full possibilities of the Metaverse in our sector. At the same time, we observe another field growing rapidly — Conversational Marketing. Тhe global conversational AI market size is projected to increase from USD 6.8 billion in 2021 to 18.4 billion by 2026. We observe more and more big companies integrating it as part of their marketing strategies.
So, what does the future hold for conversational marketing in the Metaverse? We have put our thoughts together to help you get a sense of both. Keep reading to learn more about how digital conversations will play a vital role in the future of marketing.
Conversational marketing is a customer-centric approach that focuses on marketing by creating engaging dialogs. It is so popular in recent times due to its ease of use for the customer. By definition, it comprises all the marketing strategies that enable two-way real-time interactions.
One of the well-known conversational marketing practices that businesses use is the Chatbot. According to recent reports, it is expected that the market will reach $142 billion by 2024. This is just one example of how impactful the conversations with your customers can get. The possibilities in this area are limitless including technologies such as voice recognition, VR marketing tactics, and many more. And the reason – is customers’ ever-growing search for convenience and personalization.
If we think about the Metaverse, there are а few key points that come to us right away. Consider a 3D world where you can:
This certainly feels like it is straight out of a science fiction movie. But, it is closer to reality than ever. The necessary gadget and everything associated will be available to customers by 2024.
Now, let’s take a look at how it can help brands. Brands can:
The simple idea behind all these is to make brands look more human. The goal of conversational marketing is also more or less the same. And the desired result is to interact with the end-user in the most amicable way possible and get them to love your brand.
As we already discovered, Metaverse puts the customer at the center of all activities. However, it also aims to connect brands and people through smooth-flowing conversations. This is where conversational marketing and AI come into the picture.
Here are a few ways in which we think businesses will use conversational marketing in the Metaverse:
Instead of waiting for reviews and feedback from customers, brands can now analyze conversations. In the Metaverse, companies can understand how users feel about their services through chats. They can easily track conversions with a strategy for interacting with prospects through their sales funnels.
With Metaverse, businesses can enable hyper-personalization. For that, they will need to understand their customers on a deeper level. Good conversations with their target audience will help them know more about their customers, and this is where conversational marketing comes into the picture. The ability to analyze data that comes from the user is crucial for understanding the user-specific pain points, and it is possible through Conversational AI. By leveraging these insights, companies can take personalized actions that help customers move forward in the sales cycle.
All our efforts on social media have been towards making the brand look more human. Metaverse will make it even more simple to do so. Businesses will already have an avatar representing their brand. The customers can talk with the avatar through their VR headsets. Conversational marketing also includes natural language processing capabilities. Hence, it can understand the user requests and provide a better customer experience.
Coming back to Conversational AI, it is expected that Metaverse will increase customer interactions through the voice assistant. As of now, 31% of people already use voice assistants in their daily life.
These are some of the ways in which conversational marketing in the Metaverse will be a truly innovative element that can significantly ease the process of interacting with the customers. They wouldn’t feel like they are talking to a business. Rather, the customers will feel comfortable, like when they talk to fellow humans.
Conversational marketing is here to stay, and it’s the way to the future. Brands are increasingly competing for attention using methods for entertainment like gamification or interactive quizzes. And people expect a delightful and highly personalized experience. So, we believe that conversational marketing will be an indispensable tool in the Metaverse.
By interacting directly with their audience, not only do they offer their customers a great brand experience but also gain valuable insights into what customers want from their business and how they can improve it. In other words, as conversational marketing becomes more widespread, everyone wins.
The Metaverse is becoming an increasingly relevant place for businesses. As such, we see that conversational marketing will become one of the key tools they’ll use to engage with customers in this space. By building trust and credibility with their customers through AI-enabled conversations, businesses will be able to provide a personalized experience that feels authentic and valuable.
<a href=”https://www.freepik.com/vectors/metaverse”>Metaverse vector created by freepik – www.freepik.com</a>; <a href=’https://www.freepik.com/vectors/web-analytics’>Web analytics vector created by storyset – www.freepik.com</a>