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#45 | DCX - Perspectives and insights on digital customer experience
The Metaverse Issue: DCX Podcast #10 - Welcome to the Metaverse; Concerns in the Metaverse; Linkedin Poll of the Week; DCX Links and Thought Leader Linkedin Profile of the week
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DCX Podcast #10: Welcome to the Metaverse
In this week’s DCX Podcast, I talk with Yonaton Raz Fridman, CEO of Supersocial, and host of the podcast ‘Into the Metaverse,’ about how virtual worlds are becoming the next-generation playground for young people and how brands are showing up in these environments.
We also discuss how the metaverse is impacting digital customer experience and how businesses can leverage its features to enhance customer experiences and drive engagement. The conversation covers topics such as the challenges businesses face when integrating digital customer experience strategies with the metaverse, strategies for personalizing customer experiences, and trends for the next five years.
Yon shares how the COVID pandemic has accelerated the trend toward virtual worlds and made them more visible to the wider world. And how companies should think about the metaverse as a paradigm shift for how the internet is going to function in people's lives and how it will impact human interaction with brands.
The metaverse will become an integral part of people's identity and open up massive brand opportunities, but it is also intimidating and challenging for companies to navigate.
Virtual worlds as a place to socialize and play. 1:47
What is the promise of the metaverse? 7:21
What is the metaverse, and what does it mean? 9:18
What’s the best way to show up? 13:24
Examples of companies that are doing virtual worlds well. 18:24
Cements the brand as an innovator. 20:10
How virtual identity will integrate into our identity. 24:05
Determining what’s real. 28:44
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Concerns in the Metaverse
The metaverse has captured the public's imagination, but a new Morning Consult report reveals significant concerns around privacy and safety. Of the 4,420 U.S. adults surveyed, 55% cited tracking and misuse of their data as a major concern, while 44% were worried about cyberbullying and online abuse.
Personal safety and sexual harassment were also cited as major concerns by a significant portion of respondents. These findings highlight the need for companies to prioritize user safety and privacy as they develop and promote metaverse experiences.
DCX Linkedin Poll of the Week
This week I was interested in learning more about why our colleagues in the Customer Experience Professionals Group on Linkedin are working in CX. Thanks to all who responded.
This recent poll of customer experience (CX) professionals sheds light on their motivations and values. The results indicate that CX professionals are primarily driven by a desire to help others and solve problems rather than just focusing on business success. This is a crucial aspect of CX, as it involves understanding and addressing the needs of customers. While building customer loyalty is important for retaining customers and growing business, it doesn’t appear to be the top priority for CX professionals.
The poll highlights the importance of empathy and problem-solving skills in the field of CX.
These insights provide valuable information for companies looking to improve their customer experience and better understand the values of their CX professionals. Primarily, hiring individuals with strong interpersonal skills and a willingness to go above and beyond to help customers is important.
Interestingly, the poll indicates that building customer loyalty may not be the top priority for CX professionals. While this may seem counterintuitive, it's important to note that customer loyalty is a byproduct of providing a positive customer experience. By focusing on solving problems and meeting the needs of customers, CX professionals are ultimately working towards building customer loyalty.
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Links to Industry news, ideas, insights, and the DCX Thought Leader Linkedin Profile of the week
Research - NFT Tech - Brands in Web3 & the Metaverse
The report analyzes 314 brands that launched a total of 526 web3 projects in 2022 and Q1 2023. The report also scores brands based on aesthetics, originality, purpose, and fluency, providing a comprehensive overview of the quality and uniqueness of web3 projects launched by top brands.
Roblox, the popular online gaming platform, is expanding beyond its reputation as a children's platform and attracting older users and investors. The company is diversifying into new areas, such as virtual concerts and education while improving safety measures and moderation. This shows how Roblox is growing up and becoming a more inclusive platform for all ages.
The metaverse is not just a buzzword.
It's a game-changer for businesses seeking a personalized and seamless customer experience.
‣ Provides new ways to discover & explore products
‣ Creates a seamless experience between physical & virtual products and
‣ Offers personalized experiences based on customer data and preferences.
The concept of the metaverse, first coined by Neal Stephenson in his book Snow Crash, is becoming a reality as companies work towards building their own versions. Stephenson himself is working on Lamina1, a blockchain company for creators.
While the present metaverses differ from Stephenson's original vision, there is a discussion on the design decisions being made, the intersection with gaming, the involvement of AR/VR, the role of IP, and the use of artificial intelligence. Stephenson discusses what he's building and where he gets his ideas from.
The article reports that VC-backed funding for Web3 companies has dropped in Q1 2023, with only $2.2 billion raised compared to $3.6 billion in the previous quarter. The decline is attributed to a decrease in the number of mega-deals and a shift in investor focus towards more early-stage investments. Despite the drop, the overall trend for Web3 funding remains positive, with a growing interest in decentralized finance and NFTs driving investor enthusiasm.
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DCX Thought Leader Linkedin Profile of the Week
Every week, I share a person's profile from Linkedin that I think will benefit your life and career.
Dr. Catriona Wallace is a leading expert in customer experience, artificial intelligence, and the responsible use of technology. Wallace is, most recently, the founder of the Responsible Metaverse Alliance, a coalition of organizations working to ensure that the metaverse is developed and used in a responsible and ethical way.
Wallace is a strong advocate for the responsible use of technology. She believes that artificial intelligence has the potential to make a positive impact on the world, but that it is important to use it in a way that is ethical and responsible.
Dr. Wallace is a Director of the Gradient Institute, Chair of VC fund Boab AI, a Director of medical research center, the Garvan Institute, and she was the founder of a machine-learning company based out of New York. Catriona is also the Co- Chair of Sir Richard Branson’s B Team’s AI Coalition.
Catriona has been recognized by AFR as the most influential woman in business and entrepreneurship and by Onalytica as one of the top speakers on both Ethical AI and the Metaverse, internationally. She co-authored the book Checkmate Humanity: the how and why of Responsible AI last fall.
Wallace is a passionate advocate for customer experience. She believes that customer experience is the key to business success. She is committed to using her expertise to help businesses improve their customer experience and create a more positive and engaging experience for their customers.
Please share with others you think would benefit.