Want to win in the metaverse? Think internal first

In late 2022, KPMG International commissioned Forrester to carry out a global survey of TMT executives from technology, media and telecommunications. Seven hundred and sixty-seven global strategy decision makers, at companies with US$250M+ in annual revenue, participated in the survey from 13 different countries across 5 continents. Insights include:

Six out of ten believe the metaverse will have a huge impact on consumers and businesses
Only a third say their companies feel adequately prepared with platforms for designing metaverse experiences and related operational processes.
A majority expect the metaverse to have a positive impact on customer satisfaction and engagement, less than half have even held a simple business meeting in the metaverse with their clients.

Bent Dalager

Innovation Lead & Partner, Advisory

KPMG in Denmark

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Want to win in the metaverse? Think internal first

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Of the companies represented by the 767 TMT executives taking part in the survey, a quarter (25 percent) are categorized as being in a state of “high readiness” as a result of their responses. High readiness companies are characterized by:

More likely to anticipate that metaverse investments will make a big impact across their business, including digital transformation, product innovation, customer satisfaction and engagement, talent acquisition, employee experience, and revenue growth
Investing twice as much on the metaverse as low-readiness companies
See a higher value in both customer-facing and internal use cases
More likely to conduct business meetings with clients in the metaverse

The ultimate vision of the metaverse may not be here today, or tomorrow, or even next year, but it is poised to have a profound impact on the TMT sector, and companies should be attuned to developments and ready to act if opportunities arise that they feel could add value to their business.

With the majority of TMT companies not ready for the metaverse, there is expected to be tremendous opportunities for those ready to move and money left on the table for those who don’t.