The metaverse is shaping up to be a transformative arena for businesses, offering immense potential for innovation and growth. To capitalise on this opportunity, industry leaders must understand its core value drivers.
Insights from a recent study undertaken by CFE experts provide a strategic framework for businesses to harness the metaverse effectively. Below is a streamlined analysis tailored for decision-makers.
Defining the metaverse’s potential
At its core, the metaverse is a convergence of virtual and augmented realities designed to deliver immersive digital experiences. For complementor firms—companies enhancing products or services within the metaverse—it opens avenues to transform customer interactions, streamline operations, and foster collaboration.
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Five key value drivers for the metaverse
1. Immersive customer engagement: Transform how users interact with your brand by leveraging engaging virtual experiences..
2. Massively scaled user innovation: Enable customer-driven innovation by inviting users to participate in co-creation..
3. Virtual business efficiency: Enhance operations with advanced digital tools to drive cost-effectiveness and improve workflows..
4. Digital exclusivity: Create unique digital offerings to build brand value and urgency within the virtual world..
5. Extended ecosystem collaboration: Forge strategic partnerships to innovate and expand reach within the shared virtual space.
Actionable strategies for business leaders
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1. Invest in immersive experiences
- Why: Virtual technologies like VR and AR captivate audiences and boost engagement.
- Action: Develop interactive features such as virtual product tours or immersive shopping environments. Luxury brands, for instance, use AR for virtual fashion showcases that redefine customer experiences.
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2. Drive user co-creation
- Why: Engaging customers in the creative process leads to tailored products and enhanced loyalty.
- Action: Launch platforms that encourage user contributions, such as contests for product innovation or gamified feedback mechanisms.
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3. Streamline with digital efficiency
- Why: Operational enhancements in the metaverse can optimise resource usage while reducing costs.
- Action: Implement tools like digital twins for real-time simulations of supply chains or inventory, ensuring peak efficiency.
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4. Develop exclusive digital offerings
- Why: Scarcity boosts demand, while exclusivity enhances brand prestige.
- Action: Introduce limited-edition digital products or experiences, such as branded virtual collectibles or elite events.
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5. Build collaborative ecosystems
- Why: Partnering within the metaverse fosters innovation and amplifies reach.
- Action: Engage with complementary businesses for co-branded events, shared marketing, or collaborative ventures in virtual spaces.
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6. Prioritise agility and innovation
- Why: Rapid technological shifts require businesses to constantly adapt and evolve.
- Action: Invest in employee training on emerging metaverse trends and encourage innovation through brainstorming and cross-functional collaboration.
Leading in the virtual economy
The metaverse is evolving quickly, offering unprecedented opportunities across industries. Success demands strategic foresight, adaptability, and a commitment to leveraging its core value drivers—immersive engagement, user collaboration, digital efficiency, exclusivity, and ecosystem partnerships. By adopting these strategies, business leaders can chart a path to competitive advantage in this burgeoning digital frontier. Start implementing these insights today to position your organisation at the forefront of the virtual economy.
This article is freely downloadable via QUT ePrints and the Journal of Management Information Systems.
Krüger, K., Weking, J., Fielt, E., Böttcher, T., Kowalkiewicz, M., & Krcmar, H. (2025). Value Drivers for Metaverse Business Models: A Complementor Perspective. Journal of Management Information Systems, 42(1), 143–173. https://doi.org/10.1080/07421222.2025.2452679
Want to find out more?
Need help navigating this exciting digital landscape? Contact CFE for more information and expert guidance on building your strategy for the metaverse.
Email future.enterprise@qut.edu.au