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THE INDUSTRIAL METAVERSE


WHAT IS THE INDUSTRIAL METAVERSE?


Sarah Groves, owner and director of digital marketing agency Catalyst, explores the huge marketing potential the industrial metaverse affords the modern manufacturer


beginning as the consensus is the industrial metaverse looks set to eclipse the consumer one, with 20% of major manufacturers on course to join it by 2025..


M For others, the


consideration now must be whether and how they can become part of it.


Two years ago when Mark Zuckerberg announced his bold vision for a shared, immersive space where the physical and digital worlds combine, otherwise known as the metaverse, its potential impact on manufacturing may not have been the first thing to spring to mind.


Indeed, much like the transformative trends that have come before it, such as IoT and Industry 4.0, the metaverse concept was initially shrouded in both scepticism and curiosity by industry. For many manufacturers, it might have been easy to assume it was just another tech ‘flash in the pan.’


Today though, this is changing as virtual shopping and outfit generators make way for what promises to be even bigger evolution of the metaverse – the industrial version. What is the industrial metaverse, you ask? Put simply, it’s a world in which real machines, sites and factories, buildings and cities, utilities and transportation systems, are mirrored in the virtual world to create a new type of extended industrial reality. And while the consumer metaverse may court far more attention, the consensus is that there will be


42 FEBRUARY 2024 | PROCESS & CONTROL


anufacturers may have just got over the hurdle of adapting to the forces of digital retail. But this is just the


far more money to be made in the industrial metaverse. In fact, it’s predicted that the industrial metaverse could grow into a $100 billion market by 2030.


The result is – quite literally – a whole new world of opportunity for manufacturing, especially when it comes to its complex marketing needs.


Historically, of course, manufacturers didn’t need to enter the public space of marketing. Rather they could rely on their sales teams, networking and word of mouth to drum up business. This is no longer enough. Amid the upsurgence of social media platforms for customer service, visual commerce and video sharing, it’s become increasingly important that manufacturers cater toward digitally- centered clientele. This means personalisation, customer-centricity, and memorable content, as research shows those that master the digital advantage sustain growth. Imagine then, the potential that the industrial metaverse could afford manufacturers to enhance the customer experience further. Take, for example, the typical customer journey. While Instagram, Facebook, blogs and the like are a great way of showcasing the different products or services that can solve your customers’ problems, they can be little substitute for seeing them and how they are made first hand. With the metaverse, it becomes possible for customers to submerge themselves in your product or service in 3D true to scale. This hassle-free customer experience transcends


physical boundaries. Another huge benefit is that the metaverse can help manufacturers provide greater visibility with regard to their environmental and ethical conscience. Through the ability to develop a 3D simulation of processes, inventory and capacity, it makes it possible to create an immersive supply chain network map and demonstrate a sustainable approach which builds confidence and buy-in. Equally interesting is the unlimited creative freedom afforded by a decentralised concept. This is because unlike other social media platforms which are subject to specific content requirements and advertising costs, the metaverse offers a wide open door for manufacturers to connect with customers in which way they want. This could include anything from creating their own world to creating environments and networking events that connect customers with their products and services.


So, the question begs – how can manufacturers prepare for it?


One of the most basic ways you can get metaverse-ready is by revaluating and redefining your online presence. Firstly, is your website up to par? It sounds obvious but as your business’ all-important digital front of house, ensuring it not only looks good but is user-friendly and functional is a must. Alongside this it’s time to look at your content strategy. Yes, there may not be as much creative scope for manufacturers as in the B2C field but that’s not to say it can’t be unique or memorable. The metaverse is essentially the future version of the internet so getting your content right now is vital to ensure people take notice of it.


A robust search engine optimisation (SEO) strategy is equally important. With algorithms changing every day, this is key to not just claiming but maintaining your online presence.


With the basics in place it could then be a good time to test the waters. To begin with you could consider a few low-risk opportunities to ‘go virtual’, such as creating a 3D representation of a product, or introducing a virtual tour of a key facility. Customer feedback could then be used to validate your rationale for joining the metaverse and in what shape. Ultimately, while we are yet to see the full impact of the industrial metaverse, the reality is it is coming. By beginning to embed a more immersive, virtual reality now, manufacturers can ensure they remain primed for a new world of opportunity to come.


Catalyst www.wearecatalyst.co.uk


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