Measurement in the Metaverse

Innovation is a wonderful thing. It propels us to new frontiers and changes the world as we know it. The metaverse is one such area of innovation that has been widely talked about over the last year. While no single metaverse exists today, there are many examples of virtual experiences that feel immersive, and in which people can interact with a digital environment and each other, such as those developed by Meta, Roblox, Epic Games (Fortnite), and Snap. As more and more brands look to create unique experiences within the metaverse, their impact must be measured to understand if those investments are driving business results. 

With the metaverse being an unproven ground, it is also the optimal time to experiment and learn what works and where improvement is needed. The best way to do that is by collecting credible data about participant experiences in these virtual spaces, using digital evaluation practices.

So, how should we measure impact in the metaverse? The truth is, regardless of environment, the process of measuring experiences should be standardized. The EMMC was founded for this very reason. We argue that marketers should still be gathering two critical pieces of data:

·   How do participants rate the value of experience?

·   What business outcomes are you more likely to achieve as a result of the experience?

These data points allow marketers to understand the impact of the metaverse experience. Using consistent data points allows for comparison between metaverse and in real life (IRL) experiences. This allows us to assess if experiences IRL or in virtual worlds prove to be more impactful for the brand, or if the two ought to work in combination to deliver optimal results.

While the metaverse may only be in its infancy, the way in which we measure the impact of branded experiences within it should use a proven process that stands the test of time. 

Have thoughts you want to share regarding this topic? Contact us. We’d love to hear from you.