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How the GenAI/Metaverse Symbiotic Relationship Impacts CRM

genai metaverse symbiotic relationship impacts crm

How the GenAI/Metaverse Symbiotic Relationship Impacts CRM

ISM Thought leaders in Customer Strategy

In my last CRM Magazine column, I shared the story of the red ‘fire dress’ to illustrate the ongoing integration between CRM, AI and the Metaverse. I told the story of an avid Gen Z Metaverse shopper – Elizabeth Holden – who is shopping for a special party dress to wear to an upcoming Metaverse party. She puts on her Apple Vision Pro googles and visits GetReal! – her favorite dress shop in the Metaverse. She meets with the store manager avatar to describe the type of special party dress she is looking for. While she speaks to the store manager avatar, the store’s natural language processing engine feeds her dress description into the store’s GenAI engine. Her Metaverse shopping history as well as her ‘digital closet’ that is stored in the store’s CRM system provides additional data that gets fed into the GenAI engine. Two hours later, Elizabeth receives a ping on her Apple Vision Pro goggles asking her to visit GetReal! to view the ideal party dresses the GenAI engine has located. While the GenAI engine finds 11 incredible dresses, it turns out her favorite is the red ‘fire dress’ that has actual flames coming out of the bottom of the dress – of importance, in the Metaverse you can design garments out of impractical or even impossible fabrics like liquid gold, glass, water, fire, or smoke. She is thrilled with the red ‘fire dress’ and purchases it as NFT (non-fungible token), which further cements the dress’ status as a unique fashion piece. She wears the red ‘fire-dress’ to the Metaverse party and it becomes the talk of the party!

While this story illustrates a fun way to understand the integration between CRM, AI, and the Metaverse, at the core of this integration is the tight and growing GenAI/Metaverse symbiotic relationship and its impact on CRM sales, marketing, and customer service excellence. Let’s dig into this relationship.

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The Metaverse Needs GenAI

Gen Z (born 1997-2012) and Millennials (born 1981-1996) are driving AI and the Metaverse. These generations are as comfortable in the real world as they are in the virtual world; in fact – as seen in the movie Ready Player One – Gen Z and Millennials thoroughly enjoy moving seamlessly from one world to the other. They decide when to learn, work, play, and shop in each world. Consequently, the more realistic we make the immersive world, the more Gen Z and Millennials are likely to spend time in the Metaverse purchasing goods and services, seeking customer service, and performing other CRM functions.

Recent advances in GenAI – built on top of AI, machine learning and natural language processing algorithms – generates the Metaverse experiences Gen Z and Millennials thrive in. This includes:

  • Producing photo-realistic avatars that move around the Metaverse with the agility of a human
  • Generating photo-real objects that stimulate the user experience: peek at the latest Ferrari in the Metaverse; you will swear it is real!
  • Scraping, organizing, and querying vast amounts of data generated in (and outside) the Metaverse to deliver personalized answers/recommendations quickly and to tailor Metaverses interactions based on user behavior
  • Delivering easy to create, personalized and highly contextualized immersive environments that respond to a user’s emotional state
  • Democratizing content creation: e.g., Elizabeth was thrilled to learn the creator of the red ‘fire dress’ was an up-and-coming designer

GenAI Needs the Metaverse

While GenAI performs its ‘magic’ in the Metaverse, the Metaverse captures valuable data that gets fed into GenAI engines (e.g., the natural language conversation Elizabeth had with GetReal!’s store manager), thereby enabling the GenAI engines to perform even better ‘magic’ and perpetuating the GenAI/Metaverse symbiotic relationship.

Together GenAI & the Metaverse Impact CRM

The GenAI/Metaverse symbiotic relationship meaningfully impacts sales, marketing, and service in the real and virtual worlds:

  • Sales: Encourage buyers to view products in a 3D immersive environment; deliver optimal product and service recommendations; provide guided selling, close deals faster; send targeted messages that draws upon CRM contact history; leverage sales intelligence, and more.
  • Marketing: Create hyper-personalized campaigns tailored to specific individuals; generate customer segments dynamically; provide impactful marketing content; provide gamification to enhance the immersive user experience, and more.
  • Customer Service: Provide fully automated, AI-driven service experiences; leverage smart, customer service chatbots; build powerful customer service knowledge bases both to assist customer service reps and provide cost-effective, customer self-service; build and leverage Metaverse customer communities, and more.
  • Field Service: Provide real-time remote assistance; resolve field inquiries more quickly and accurately; generate creative solutions to challenging problems; leverage digital twin technology; deliver cost-effective self-service to the field; leverage Metaverse field service communities, and more.

Whether you choose to be a change agent or an observer when shopping for a special party dress, or solving a complex field service issue, now is the time to understand and leverage the GenAI/Metaverse symbiotic relationship and its impact on CRM.

 

Barton Goldenberg (bgoldenberg@ismguide.com) is president of ISM, Inc. Since 1985, ISM has established itself as the premier strategic advisor leveraging leading edge technologies – the Metaverse, Digital Communities, and CRM – to improve sales, marketing and customer service. His thought leadership includes co-creator of the ‘Business Success in a Virtual World’ podcast, co-creator of the award winning XR/Metaverse Resource Center, and author of three business books including The Definitive Guide to Social CRM. He is also in high demand as a keynote speaker (www.bartongoldenberg.com).

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