Just Think About the Metaverse More Like a Media Channel

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The metaverse is already a media channel for brands. According to a new survey by TELUS International, around three-quarters of American consumers believe that brand interactions in the metaverse will one day replace those in the real world. In fact, 65% of respondents believe the metaverse will be considered mainstream in the next five years.

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Half of those polled said they would choose one brand over another if it offered a superior experience in the metaverse. Additionally, more than a quarter (27%) indicated they would pay a 5% premium for a product or service that was supported by a quality metaverse experience, and 22% would pay up to 10% more.

“Just as the internet and mobile apps revolutionized the way we interact with brands and consume information, goods and services, the metaverse offers brands exciting opportunities to interact with consumers in entirely new ways,” Michael Ringman, chief information officer at TELUS, shares.

“Digital 3D worlds open up a window of opportunity for brands — it offers them a space that’s accessible, allowing them to connect with consumers globally in unique and interactive ways, providing consumers with an enriched customer experience.”

The pressure is on for brands that choose to engage with consumers in virtual worlds. The survey indicated they expect interactions with brands in the metaverse to be more engaging (53%) and better customized to their interests (49%).

When asked what would encourage respondents to interact with brands in the metaverse, the top response was the ability to realistically try out or try on products and services (41%).

There is, however, a limit to what surveyed consumers feel comfortable doing and purchasing in the metaverse, even with these enhanced experiences. For example, only 35% would buy a house or rent an apartment in the real world through the metaverse. This is in stark contrast to survey respondents saying they would feel comfortable gaming (79%) or engaging with a brand’s customer service (68%) in the metaverse.

There are concerns too. For example, 60% said they believe it will be easier for individuals to get away with inappropriate behavior in the metaverse and just 45% think brands are prepared to moderate content in order to keep users safe. Most people don’t consider AI alone to be enough of a safeguard against malicious content.

“Like we’ve seen with digital environments that have come before it, the metaverse is unfortunately not going to be immune to users who abuse these spaces, putting brand reputation and their customers at risk,” Ringman says. “As brands begin to explore this new platform, content moderation must be incorporated during the initial planning phase to ensure users experience a safe and inclusive environment. This will mean employing a mix of AI and human moderators to ensure a timely, accurate and inclusive review of content and behaviors.”

The findings are based on a Pollfish survey conducted on October 17, 2022. It includes responses from 1,500 Americans who are familiar with the metaverse.