Is the future of marketing the metaverse, GenAI or something else?

This article is part of our Opinions section.

Ever since Zuckerberg nearly broke the internet with his pioneering vision for the next iteration of the web, it would seem that the evolution of the mixed and virtual reality experience was all anyone could talk about. Cue everyone from Apple, Microsoft and Google through to Disney and even Gucci jumping on the metaverse bandwagon for a slice of the potentially hugely lucrative pie that an immersive, 3D internet will bring.

That was, of course, until the arrival of ChatGPT, bringing with it an uncanny ability to generate near-perfect human-like text. Now, as we enter the second half of 2024, the focus has shifted from curiosity to strategic implementation. Businesses are proactively exploring how these powerful technological forces can reshape the way they interact, create, and conduct business to create new opportunities for growth.

Amid a difficult economy and diminished budgets, the big question is – where should busy businesses be placing their focus?

Exploring the intersection of conversational AI and virtual realities

Of course, these concepts are very different both in their scope and stage of development. The metaverse is still essentially on the drawing board, whereas generative AI tools such as ChatGPT are already being incorporated into tech platforms and being used to fulfil specific functions.

In marketing, AI tools are now widely used to help companies create personalised content at scale, generate novel concepts and explore new creative possibilities. Moreover, with AI-powered analytics into everything from browsing behaviour, purchase history and demographics, it’s now possible for marketers to optimise content on a much deeper level.

What the metaverse and AI have in common is that they pose strategic questions to companies. Every time a new ‘hot’ tech trend emerges, business leaders need to parse whether it is simply hype or a solution that provides a clear commercial opportunity which will require investment to realise.

The metaverse itself may not ever arrive in the manner that Meta envisions, however, artificial and virtual experiences do present obvious and exciting new ways to engage customers. Businesses can invest in developing these experiences now and potentially carve out a competitive advantage and align their brand with innovation.

On the other hand, AI presents a number of clear ways to both engage customers through, for example, chatbot experiences, and create serious efficiencies through automation. Combining both major trends opens the door to a mind-boggling number of new use cases.

Redefining the customer journey

For example, a company can use generative AI to create dynamic and personalised content within a metaverse, such as custom avatars or unique, on-the-spot generated promotional events that engage users in real time.

Furthermore, these technologies are redefining the concept of customer journeys by creating continuous, engaging narratives that guide the consumer through a seamless transition between virtual and real worlds. Brands that understand how to navigate and integrate these technologies are setting new standards in marketing, providing experiences that are not only engaging but also deeply integrated with users’ lifestyles.

While the potential is immense, the integration of these technologies into marketing strategies comes with its challenges. Privacy and data security are paramount concerns, especially with AI’s scope for deepfakes and misinformation. Additionally, ensuring inclusivity and accessibility will be essential to creating equitable digital environments. 

Next steps

So what is the best course of action? Invest time and money on one, bank on both or do nothing until the best applications emerge?

The answer to that is far from straightforward and will very much depend on the commercial strategy of individual businesses. What is universally true is that to use AI, AR/VR or indeed any new tech in your marketing effectively, you need to ensure you have the right modern tech platforms.

Far too many businesses invest in experimenting with, or applying, new innovations when really their resources would be much better applied ensuring the infrastructure they use is up to scratch. Many businesses are still using outdated and inflexible CMS systems to run their marketing. Many are using multiple CMS systems. Yet using more than one CMS can cause disorganised workflows, content siloing, and communication issues, as well as increasing costs and reducing efficiency.

To put it bluntly, if your business is struggling to efficiently run its existing website, produce personalised communications campaigns and effectively manage content on its channels as it is – adding in more complex advanced tech is never going to work. This doesn’t just mean having, for example, a headless CMS platform – it also means ensuring that your data infrastructure is up to scratch. Effective marketing is run on data and that is even more true for AI and VR/AR experiences. 

Future focus

More so, the reality is that recent developments such as metaverse and ChatGPT are just beginning in terms of the future of big tech. Years from now the consensus is that web decentralisation will be commonplace (moving ownership away from big gatekeepers, such as Google and Facebook, to individuals), community robots will roam cities to offer personalised local content and holographic wristbands will be used to share concepts. While certainly much further in the future, these revolutionary ideas offer a clear indication of what could be around the corner and reiterate the importance of businesses taking heed of the pipeline.

Of course, Rome wasn’t built in a day and we can certainly not expect the full evolution of the metaverse, generative AI or any other tech breakthroughs to be ready anytime soon. What businesses can do, however, is begin to consider it and prepare now. Ironically, this actually starts at the beginning – ensuring a solid foundation is in place with a good, modern tech infrastructure which will make your life much easier, save your team time and money, allow you to create more effective marketing campaigns, and ultimately enable your business to capitalise on any new tech trends and be ready for tomorrow, today.

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