You will be amazed to know that the situation between Metaverse and Tourism is more like Ferrari’s F1 in 2009 than real fear in investing in the Future

Recently the most hotly debated topic on the Web, but also in posts that are not completely technical, has been precisely that of the Metaverse.

In 2021, Internet searches for this term increased by 7,200 percent. In December, Facebook renamed itself Meta, and CEO Mark Zuckerberg declared his ambition to “help bring the Metaverse to life.” A month later, Microsoft declared that its proposed acquisition of gaming giant Activision provided “the building blocks for the Metaverse.”

Private companies are pouring large amounts of investment capital into this area ; already more than doubling through 2021 . Epic Games has invested $3 billion in developing projects directed at or, at any rate , close to the Metaverse : it has announced a partnership with LEGO to build a children’s Metaverse .

By another definition, the Metaverse is seen as an evolution of today’s Internet: it is something we are immersed in instead of looking at. It can fulfill the promise of vast digital worlds parallel to the physical one. For marketers, the Metaverse represents an opportunity to engage consumers in entirely new ways while pushing internal capabilities and brand innovation in new directions.

It is the right time to adopt a mindset of experimentation and learning, to be open to experiments in the metaverse and to quickly overcome failures and capitalize on successes.

We continue to see a healthy dose of skepticism about the Metaverse, and companies may want to exercise caution, as the promise may take some time to achieve the desired results. But we believe we are on the eve of a fundamental change in the way people use the Internet. Marketers would be remiss if they did not begin to explore what the Metaverse can offer.

This is the right time to adopt trial adn error strategies and to experiment as much as possible , to quickly overcome failures and capitalize on successes.

It sounds strange , but the real problem with the implementation of this Technology lies not so much in its technical complexity , rather it lies in our perception of reality not being complete . With the Metaverse we try to create a virtual surrogate of the existing , but we do not know the root of reality itself . We must, therefore, perfectly define the goals of our hotel business .

Why do you want to be part of the Metaverse? If your brand’s consumers are there, do you want to raise awareness among a new audience, position your brand and generate favorable “sentiment” or promote loyalty to your facility?

Is your goal to stimulate innovation in your marketing team? In the short term, the main goal of brands should not be to stimulate sales directly, as sales of virtual objects are still much lower than sales of physical objects. In addition, today’s metaverse audience, especially on online entertainment platforms such as Roblox, is often younger, which brings both opportunities and risks.

Identify the platforms that offer the best opportunities and brand fit. Currently, Roblox, Fortnite, Decentraland, Minecraft, and Meta’s Horizon Worlds are just a few of the metaverse games and platforms out there. Some will be better than others for specific purposes. There is ample opportunity to experiment with multiple platforms to see what works. For example, the luxury brand Gucci has conducted several activations to figure out where and how to connect with Generation Z. Last year it attracted 19.9 million visitors in two weeks when it launched a meta-verification version of its real Gucci Garden on Roblox. Gucci has also partnered with the fashion-focused Zepeto Metaverse, announced plans to launch a virtual world on the blockchain-based platform The Sandbox, and created assets for games such as The Sims, Pokémon GO, and Animal Crossing.

Always remember that the market rewards pioneers and consumers tend to see brands in the Metaverse as innovative . Companies, then, need to figure out well how to balance advertising in the virtual world with real-world purchases of physical hotel services . Take for example what skateboard retailer Vans did last fall when it launched the interactive skatepark “Vans World” on Roblox. To raise brand awareness and target the company’s core demographic, Vans allowed visitors to virtually explore skate sites with friends. Through the game, visitors can also earn points to spend on virtual sneakers and clothing items, as well as build custom skateboards in a virtual skate store. This initiative has successfully engaged both existing and new fans, and has so far recorded more than 48 million visitors.

Ferrari in 2009 and Brawn F1

When considering the speed at which platforms are evolving and new use cases are emerging, it is clear that brands will be incentivized to continue testing and learning. In addition, it will be imperative for marketers to secure the talent needed to keep up with new and rapid developments in areas such as augmented and virtual reality, consumer journey analytics and social commerce.

It follows from this that the real problem of the Metaverse is not so much its technological complexity, but the human resources that have to devise new sales paradigms from the Metaveso to the reality of Hospitality ; it follows that it is not monetary capital that is the stumbling block to entering the Metaverse but, the preparation and talent of its operators.

All this, reminds me of the year 2009 of F1 where Brawn F1 , just born as a team and with zero potential, thanks to bureaucratic loopholes and ingenious technicians created a car that routed Ferrari that started as the favorite . In that case, the house of the Prancing Horse did not lack money , but an equally prepared and shrewd team in preparing a winning car .

Finally, the Metaverse has great potential beyond marketing. To create value across the enterprise, companies themselves must take the time to think through the Metaverse’s potential strategic implications for sales, operations, manufacturing, R&D, and human resources. Organizations and brands that plan and execute these operations will benefit most from the future of the Metaverse.