Via By Homayoun Hatami, Eric Hazan, Hamza Khan, and Kim Rants, McKinsey Quarterly Suddenly, the metaverse is in the zeitgeist, for better or worse. Investment more than doubled in 2022 powered by big moves (such as Microsoft’s $69 billion acquisition of Activision Blizzard, now under antitrust review) and small ones (about $12 billion to $14 billion of venture capital and private equity investment). Everyone has heard about the successes racked up by some big gaming companies: Roblox reported more than 58…
Making The Business Case For The Metaverse: How Companies Can Create Value In The Next Web
The metaverse represents an evolving version of the next web, creating immersive 3D experiences that evolve traditional 2D websites into a connected series of virtual worlds. Already, consumers and businesses are exploring ways to enhance their everyday activities, deepen connectivity, and unlock more exciting applications. New McKinsey research estimates that the potential economic value of the metaverse could generate up to $5 trillion by 2030. The report, “Value Creation in the Metaverse” also found that 57% of metaverse-aware companies say…
The importance of retail experience design; Designing a valuable retail experience
via Lauren Mathews, LEAP Author Lauren Mathews explores the importance of total experience innovation in a hybrid world. Solis’ book, X: The Experience When Business Meets Design, couldn’t be more timely. In her article, she writes… 90% of purchases are researched online before being made in-store. Customers expect a memorable experience when shopping in stores. A retail store experience brings a brand’s story and values to life. But retailers can’t rely on Instagrammable moments and digital screens alone to make their stores…
What is the Metaverse? Defining the Metaverse as it Evolves
Even though the term is inextricably linked with web3, the popular virtual worlds often referenced today are closer to web2 in operation and business models than they are to a decentralized platform. Roblox, Fortnite, World of Warcraft, Meta (formerly Facebook) Horizon Worlds, Second Life, Decentraland, are all in their own way example of an evolving metaverse. The original term was coined by Neal Stephenson in his 1992 science fiction novel, “Snow Crash.” In it, he envisioned a place where humans,…
Reimagining the future of marketing and why CMOs will drive business growth in the future
COVID-19 overturned lives and livelihoods across the globe, forcing people to find new ways of working, shopping, and playing. Homebound consumers abandoned deep-seated shopping habits overnight, going online in droves and compressing a decade’s worth of digital adoption into months. Although businesses responded quickly to a flood of new online customers, they faced unprecedented disruption, with a staggering 75 percent of consumers trying new brands, products, and channels. These seismic shifts are transforming the role of marketers and marketing, and…
Is the Future of Business Growth Tied to a New Generation of 360 Experience Marketers?
Executives across the globe are prioritizing investments and capabilities that help accelerate business growth. According to McKinsey research, 78 percent of CEOs are now banking on marketing leaders to drive growth. We aren’t talking about your everyday CMO, however. To drive business growth requires a new breed of 360 CMOs and marketers, those who take a holistic, data-driven, 360 approach to customer experience transformation and innovation. McKinsey’s research uncovered three elements, a “growth triple play” of creativity, analytics, and purpose, that delivers…
McKinsey – The Growth Triple Play: Creativity, Analytics and Purpose
Brian Solis joined McKinsey at Cannes Lions, the International Festival of Creativity, to debut research that explores the high performing organizations that prioritize the “growth triple play” of creativity, analytics, and purpose. The presentation is here (registration required). Key Findings: Only 7 percent of companies are delivering on the growth triple play by unifying creativity, analytics, and purpose. They are driving average revenue growth of 2.3 times versus peers from 2018–19 (which increased to 2.7 times versus peers from 2019–20)….
The New Playbook for the Future of Marketing and CX Will Be Written by You
Recent McKinsey research uncovered a “growth triple play,” where successful companies integrate creativity, analytics, and purpose to deliver at least two-to-three times the growth of their peers. But even for those companies that used just one of the capabilities—either creativity, analytics, or purpose—they experienced an average growth rate of more than 6%. Those that added a second component saw growth rates climb to more than 7%. And for those that employed the full triple play, growth rates climbed to more…
The New Experts: How Robotics, AI and Automation Are Shaping the Future of Your Work
Sophia, the AI-powered robot who was infamously granted citizenship by Saudi Arabia recently beat me out for two keynote speaking opportunities. True story. This is how I opened my presentation at the KQED studios in its inaugural Silicon Valley Conversations program, “The New Experts: How Robotics, AI and Automation Are Shaping the Future of Your Work.” The event focused on the way new technologies are changing how we work, where we work and the skills we need to work. I joined Michael…
The Imminent Shift from Social to Digital Engagement
How do you define engagement? No matter how you define it, engagement is something that we most likely underestimate. Engagement symbolizes the touches that occur in various moments of truth and this should completely change not only how you engage someone in each moment but also how the inside of your company works with one another to make it frictionless and experiential. Whether a customer stands on the stage of awareness, consideration, purchase, or post purchase, touch points open and…
