Building Your Own Metaverse

In a world of countless products and endless Software as a Service subscriptions (SaaS), buying something off the shelf is generally a recipe for sunk costs and endless frustrations. Furthermore, comparing any products, by brand, acronym, or brief description is sure to end poorly.

As an example, a simple search for ‘CRM Solutions’ results in 726 solutions. These solutions range from leaders like Microsoft and Salesforce and branch out from there. But even the online feature comparisons do not do justice nor accurately reflect the robustness or limitations with any of these solutions. As the saying goes, the devil is in the details and the details are where solutions will win or lose.

So how do you go about determining what your software needs might be and what software solution(s) are right for your short-term and long-term business objectives?

Safety and efficiency are often two words that come to mind when thinking about field service and field workers. However, when is the last time that you’ve assessed the viability of your current processes and systems as it relates to your remote field service employees? The reality is many companies are still leveraging spreadsheets for scheduling and manual checklists for safety and task-oriented services.

With increased liabilities, increased customer expectations, and a limited pool of tradespeople, reimagining your field capabilities is a critical part of the ongoing success of your business. In fact, one of the most measurable ROI’s for field service companies is surrounding their field service processes and systems.

The late Peter Drucker is famously attributed with the phrase, “culture eats strategy for breakfast,” and we couldn’t agree with him more. In fact, at DPT, we have our own take: strategy eats technology for breakfast.

Just as culture formulates a solid foundation to build and ultimately implement strategic initiatives, strategic focus provides the same foundation for technology applications. In many businesses, this also equates to the difference between technology and solutions.

To put it simply, technology is the “impulse purchase” made to fill a current and immediate need. In contrast, a solution is planned. It’s rooted in a strategic vision that incorporates both current and future-state business requirements.

In this podcast, we discuss why strategy is the first step toward achieving a 360 view across your organization. Technology is the tool that can help get you there but without a proper strategy, technology will only compound rather than solve your problems. 

What is Metaverse or a Dataverse and why should you build one for your organization? The Amazons, Googles, Facebooks/Meta’s of the world have shown us the power of data and how it relates to interacting and marketing to consumers. Consider the power your organization could have if you knew the habits of your buyers. Think of this not only from a sales and marketing perspective, but also from the perspective of being more nimble as markets, industry trends, and consumers are evolving at a more rapid rate than ever before.

Historically, companies rarely experienced the risk of a talent shortage or a workforce with options. In many ways, this meant traditional compensation packages including retirement plans, health benefits, and a ‘competitive salary’ would get and retain talent. However, many of these benefits can be obtained independently now. Employees are no longer dependent on an employer if they want medical benefits or even a retirement plan. There are entirely new market segments being created by and for the ‘gig economy’.

While the older generations might not be ready to make the leap, the younger generations are. ‘Millennials’ have now surpassed the ‘Boomer’ generation as the largest generation in the current workforce. Why should you care? 

The Millennial generation aligns with the next transformational phase of your business. These individuals will be represented as your new buyers which will make it critical that they are part of your organizational strategy. They know what your future workforce and customer want, no different than their predecessors did. 

With greater accessibility of digital tools and generational transitions, meeting your customers where they are, has never been more important. The Millennials have now surpassed the Boomers as the largest generation in the current workforce. Is your business aligned with the new buyer? Do you truly know what the new buyer values over her predecessor? Is your sales team aligned, or are they using the same tactics they’ve always used? 

The reality is, the overwhelming majority of businesses have not taken a hard look at their sales and engagement models. While most companies will tell you that they are focused on the customer experience, do they even know what experience the customer values most? 

Understanding the above is critical to business growth and the importance of digital transformation. For years, businesses focused on building a better mousetrap (think industrial revolution), well what happens when the mousetrap is aided by technological advancements? 

 Regardless of your business, understanding your buyer and seller habits is key to sustainability and growth. The most tangible way in doing this is through quantifiable customer data and information sources. Leveraging data within your company such as accounting software, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and customer service solutions are a few information sources that should be able to tell a quantifiable story about your customers. From demographic data through buying habits and buyer-stakeholder alignment, your transformation begins with business strategy, followed by business process and systems to complement, and achieve growth.