The Power of Digital Enablement Revolutionizing B2B and B2C Commerce Business Models 

To thrive in the fast-paced automated economy, businesses must be adaptable and innovative. The digital era has transformed how companies operate, compete, and serve clients. The drive toward a digital economy is powered by technological advances, changing client needs, and global connectivity. Enterprises must adopt digital-first approaches and leave traditional methods behind to remain in the race. The Role of Digital Enablement in Modern Businesses Digital enablement is crucial in the automated economy. It gives businesses tools to use digital technology effectively. This strategy goes beyond adding new systems. It means weaving digital processes into a business’s core. This improves efficiency and customer interactions. Allowing businesses to innovate, make operations smoother, and personalize interactions with clients. This gives enterprises the advantage boosts revenue growth and operational efficiency, laying the groundwork for long-term success. Understanding Digital Enablement Digital enablement involves weaving digital technologies throughout a business to deliver superior client experiences. It’s more than just using new tools; it’s about reimagining how an enterprise works to make the most of digital innovations. This strategy uses a range of technologies, from cloud computing and data analytics to AI and IoT. It helps enterprises to improve their operations, products, and services. Significance of Digital Enablement in Business Transformation Digital enablement is crucial in today’s fast-paced business world. It makes companies competitive and innovative. It also increases client loyalty and revenue through improving personalized experiences. This enables businesses to swiftly adjust to changes in the market, foster ongoing innovation, and improve how they operate efficiently. Overcoming Traditional Challenges with Digital Enablement Digital enablement is key in solving major challenges faced by traditional businesses: By tackling these issues, digital enablement not only improves current operations but also opens doors for innovations and growth. It empowers enterprises to move beyond old limitations, achieving greater efficiencies, flexibility, and client engagement. Essentially, digital enablement is a strategic change, reshaping how businesses operate and compete in today’s digital world. Strategies Enhancing Revenue Growth with Digital Enablement Leveraging Digital Marketing for Client Acquisition Digital marketing is changing the game. It uses tools like SEO, blogs, social media, and emails to reach more people easily and affordably. Unlike traditional methods, digital marketing lets enterprises target their audience more precisely and deliver measurable results. It’s a key part of using digital enablement to grow revenue exponentially. Enhancing Client Engagement and Retention Strategies Digital enablement allows enterprises to connect with clients through phones, social media, and other digital channels. This enhances client engagement because of the ease of connectivity, building stronger relationships. Moreover, advanced analytics and CRM systems help enterprises understand and serve their clients in a more personalized manner, keeping them loyal and satisfied. Personalization and Tailoring Services for Increased Revenue Digital enablement’s key perk is making services and interactions personalized. With data analytics, companies learn what each client likes and wants, shaping their offers and messages to match. This improves the client experience, boosting their loyalty and readiness to spend, which in turn, grows revenue. Comvita’s Successful Revenue Growth Through Digital Enablement Comvita, a $250M New Zealand-based enterprise, transformed its online sales by embracing digital strategies. Initially making only $0.4M annually from e-commerce, they developed a new, user-friendly website. This platform focuses on client experience, offering easy navigation and personalized features. They also used digital marketing to attract more online visitors. The result? Their online sales soared to $2.2M in just one year, proving the power of digital enablement for revenue growth. Improving Operational Efficiency with Digital Enablement Streamlining Processes Through Automation Automation is key to improving operations. It reduces errors and saves time by automating tasks like client service and inventory management. Technologies like Robotic Process Automation (RPA), AI, and machine learning can make this possible, making processes more efficient and freeing up staff for strategic work. Data-Driven Decision-Making for Operational Efficiency Data analytics helps businesses make smarter decisions by using big data. This allows them to see patterns, predict trends, and gain insights for better operations. It’s useful in areas like supply chain optimization, risk management, and product development. This approach makes businesses more agile and competitive. Enhancing Collaboration and Communication Digital tools like project management software, cloud-based platforms, and communication apps help improve teamwork and information flow. They connect teams across different areas, making it easier to work together and innovate. This increases the ability to complete projects more efficiently. MUV Achieved Operational Transformations Through Digital Enablement The story of MUV, a ground transportation and logistics company, is a great example of how digital enablement can transform operations. MUV moved from traditional ways to a digital approach, automating key processes like booking and vehicle tracking. This not only made operations more efficient but also improved service quality. A big change was better teamwork and communication through digital tools, which brought drivers, dispatchers, and clients on the same page. MUV’s success shows the positive impact of digitalization on business operations. Digital Tools and Technologies for Business Enhancement Key digital tools like cloud platforms, CRM systems, ERP systems, e-commerce platforms, and social media are transforming businesses. Cloud platforms provide flexible resources and global access. CRMs improve client service by centralizing data. ERPs streamline various business processes for better efficiency. E-commerce platforms open up wider markets, and digital marketing enhances client engagement and brand awareness. Implementing Analytics for Informed Decision Making Analytics is a core of digital enablement, offering insights for smarter decision-making. It lets enterprises use large data sets to spot trends, gauge performance, and predict client behaviors. This leads to strategic planning, focused marketing, and personalized client experiences. Ultimately leading to improved business results. Emerging Technologies Impacting Revenue and Operations Emerging technologies are changing how businesses work. AI and Machine Learning make tasks easier and give valuable insights. IoT connects devices for better data sharing, boosting efficiency. Blockchain makes transactions safe and clear, improving supply chains. AR and VR create new ways for businesses to interact with clients and demonstrate products. Using these digital enablement tools not only improves how enterprises work now but also prepares them for

The metaverse era has arrived. Since the dot com era, it’s difficult to recall any technology notion that has generated as much excitement. Everybody is interested in the untapped potential of virtual worlds, from tech companies to gaming studios to luxury brands to artists and influencers. Aside from the $10 billion that Meta has committed to developing its virtual reality social network, other major technology companies, including Microsoft, Nvidia, and Shopify, have also made significant investments in the metaverse. The luxury industry is likewise breaking new ground. The first-ever Metaverse Fashion Week will be held in Decentraland at the end of March, showcasing dozens of worldwide companies, virtual shows, and after-party events. NFTs, the token type that makes up the wealth of the decentralized metaverse, have also recently seen a boom in popularity. The NFT industry is expected to reach $80 billion by 2025, according to Jefferies, an investment firm that previously projected this figure. It’s the Beginning of a New Era In light of this, it’s essential to keep in mind that the present metaverse user experience isn’t even close to what it will be in the future. There are several barriers to entry in the decentralized realm that is still in place, such as purchasing a virtual reality headset and navigating exchanges, blockchain platforms, wallets, and exchanging crypto with fiat money. Things are already changing, though, as is typically the case with a new technological cycle. Known entrepreneur and investor Marc Andreessen famously said in 2011 that “software is devouring the planet.” He was well aware of the revolutionary possibilities that software was about to unleash. Enterprise software investment increased 123% within a decade after his speech, to $600 billion per year. Nowadays, no one buys software licenses or installs them on their computers. Everything from infrastructure gear to document storage to software is now supplied “as a service” by companies rather than owned or operated by them. The next logical step is to provide access to the metaverse as a service. To begin testing ideas for using the metaverse for marketing and branding reasons, existing metaverses like Decentraland or Roblox are being used since they are already in existence, have a large user base, and offer an infrastructure for testing concepts. But, who would want to construct their metaverse besides the large IT companies? After seven years of development, it’s fair to say that Decentraland has just recently started to attain significant popular success. A high-end business or an influencer doesn’t want to deal with the stress of dealing with a bad review. They’re trying to develop methods to connect with people who like spending time in the metaverse and are interested in purchasing digital hardware. Increasing the Number of Metaverses opens up New Possibilities It’s already clear that the current tiny number of operational metaverses will be unable to support all of the metaverse’s use cases for a worldwide user population. Although blockchain scalability is a significant concern, the user experience and return on investment for brands are just as necessary. Metaverse traffic increases the difficulty of anyone’s brand or use case to stand out and the difficulty of finding what a user wants to discover. In addition, a “one-size-fits-all” approach always fails to please everyone. How many parents would allow their children to spend time in a metaverse with inappropriate information for their age? But on the other hand, many genuine adult enterprises may be barred from a metaverse if it is made child-friendly by enforcing laws. Thus, when businesses and brands learn to see the benefits of having their virtual worlds, the business model known as “metaverse-as-a-service” will become the dominant one. For this reason, a luxury brand metaverse, which may have logos, catwalks, and virtual stores, will necessarily be quite different from a wellness metaverse, which may include virtual doctors and yoga classes. To narrow down the notion, it is possible to do so. Many variations on the concept of a food metaverse, a virtual restaurant where you may explore takeaway menus and place orders for home delivery, are possible. Distinct courses, skills, age groups, and languages might be the emphasis of different school metaverses. Venture Into The Unknown: Metaverse-as-a-service Because of this, companies and industries may customize their features and functionality to their specific target audience without learning any code thanks to the Metaverse–as-a-service platform. The gatekeeping for age-appropriate material and the creation of VIP metaverses like VIP membership clubs might be easily implemented. If we look to the future, it’s clear that the metaverse will follow a similar trajectory to that of software. It will only be when metaverse-as-a-service becomes the norm that metaverses will completely take over the planet. Metaverse-as-a-service is a golden opportunity for businesses who are willing to scale up their game in the coming escalating future. Luckily, experts at Cooperative Computing have already geared up. With several successful Metaverse projects under our belt and more actively in progress, we’re open to new projects.  Feel free to share your desired goals with us, so we can provide you with a viable business solution.

In June 2021, Mark Zuckerberg shared an overly ambitious idea with his team. Instead of just a social app that connects people, Facebook is a technology company willing to develop interconnected experiences straight out of a sci-fi movie. Mark announced a new world: metaverse. Previously the company’s focus was to develop products for communities, creators, commerce, and now virtual reality. In an address to his employees, Mark shared,  “What I think is most interesting is how these themes will come together into a bigger idea; our overarching goal across all of these initiatives is to help bring the metaverse to life.” What is the metaverse? Metaverse was first coined by Neal Stephenson in his sci-fi novel Snow Crash. It refers to a digital universe where users “live” within a combination of virtual reality, augmented reality, and video. A clip from Ready Player One movie depicts how the metaverse will feel like:  Previously, New York Times shared how game companies like Fortnite, Roblox, and Animal Crossing have used the metaverse elements in their games to glance at how things will be in the future. Why Is Facebook Involved? The grand announcement of Mark made it clear regarding how serious Facebook is about the metaverse. It’s now Facebook’s top priority.  Some analysts consider investing in VR headsets; Oculus was a bold move. But obviously, Mark has some plans that support making Oculus headsets cheaper than their competitors.  Facebook is also working on VR applications for social hangouts designed for the workplace. Mark ensured in an interview that “Metaverse won’t be developed overnight by a single company.” So, Facebook funded $50m to non-profit groups to build a smarter metaverse.  But surely, it will take another 10-15 years for the true metaverse to takeover. Why Metaverse Is The Next Computing Platform? Technologists claim that ultimately the internet will evolve into the metaverse. Within a few years, you won’t need to wait for Amazon to deliver products to your doorstep. In the metaverse, you just have to wear glasses, imagine what you need, and within seconds the thing will be standing right next to you.  Today’s internet is the main entry point to connect with millions of people, communicate, and socialize with others. With the metaverse, it will become impossible to differentiate between reality and fantasy. But experts believe that extended reality (XR), which is the combination of reality and virtual, will aid in keeping us real. The metaverse is based on the idea that virtual, multi-dimensional, real-time environments that can be accessed and interacted with are destined to become a transformational tool in social and business engagement. For these environments to become practical, extended reality must be widely adopted. Video games and niche enterprise applications have been the only areas in which XR has been applied to date. With games increasingly becoming platforms for social experiences, the likelihood increases that their qualities – open and creative expression mediums, channels for pop culture, and discoverable, continuous virtual worlds – can and will be used in other contexts. How Can Companies Benefit From The Metaverse? Whether you’re a startup or an enterprise planning to beat their rivals, you must transition in the next phase of online ads to the modern-day virtual economy. Companies must research customers in the metaverse.  People can behave and shop in the metaverse in a different way than they would in real life. Here robots will be virtual assistants and a bridge between consumers and businesses. Surely, there will be ads in the metaverse. Frederic Descamps, CEO, Manticore games, said, “Even in [the film] ‘Ready, Player, One,’ who made the Metaverse there? It will be all about the act of creation.” Brands need to approach this responsibly and ethically and not make our world one giant advert. It’s essential. CMOs must know what is inside the metaverse. Digital clothing, building your world to the impact that marketing can have on people. In 2019 the GTA V presented clothing options similar to the protesters who wore them in Hong Kong on Los Santos street—covered in black with yellow hats and gas masks. The Chinese players noticed and fought back in the police uniforms. There will be no individual wandering in the metaverse. (With NPCs, holograms, or other players) they will have friendships and relationships that influence their decisions. Play and interaction styles of brands will need to continue changing. Social media won’t be the only place where customers can interact with brands; they’ll also be able to do so in 3D. The Road to Metaverse Begins with 5G The 5G metaverse is all about augmented reality, going out into the world to enhance it. Since Ready Player One relies on fiber and Wi-Fi 6E, you will never have to use 5G if you don’t leave your house. With 5G, people can use AR/VR headsets for the first time and enter the Metaverse. It is basically packing an entire two-year-old smartphone in Oculus headsets, so they are heavy, and have much worse graphics than PCs or consoles can deliver. If 5G is good, as opposed to the kind we are working with now, headsets will be capable of rendering their graphics remotely, acting just like displays and collections of sensors. This will greatly reduce headsets’ size and power consumption. In the end A new version of the internet is being developed, and the effects on society will be profound. There will be new challenges, but there will also be new opportunities for marketing, communications, and branding professionals. New horizons and frontiers will open up for brands and businesses in this new era of the metaverse. How are you preparing? Are you ready to build an augmented reality app for the future? Our app development experts can help.