A $340 Billion Industry Is Ripe For Disruption with the Metaverse
Technology has empowered us to achieve so much more — to do things that could not be imagined before. And still, one thing that has not changed is the dread we experience when we enter the world of customer service.
We've all experienced the endless menus and voice recognition scripts over the phone. The only-so-helpful bots in tiny chat boxes. Websites with giant FAQs that don't address our problems. They all mostly seem to reduce interaction instead of facilitating it.
How do we bring back face-to-face discussions while retaining the at-home convenience? How do we make this process more human for everyone, without increasing cost of service for organizations?
I believe we can — in the metaverse. Today, media's focus on the metaverse is on its catchier applications: virtual concerts, immersive video games, digital art, virtual theme parks, and virtual real estate. What is yet to get enough attention is the massive potential for disruption in the global contact center business. According to Statista, the global contact center market was approximately $340 billion in 2020 and is expected to grow to approximately $500 billion by 2027.
Imagine being able to transform an industry that size using technology. Imagine having an interactive environment, accessible from your home, with live people in it — people you can see and talk to, much like in the physical world.
As we all continue to feel the fallout from the pandemic in our home and work lives, the metaverse can change the equation for companies in how they connect with customers and how they source talent.
Let's consider some of the sore points in customer service today and how they can be addressed:
- Too much time finding the right customer representative. Our initial interactions are focused on how to be routed to the proper place, often by typing out keywords to a chatbot or shouting them into our phones, or by dialing numbers after listening to menu options. Then we're stuck in a queue.
- Complicated and boring websites. With an eye on expenses, many companies want consumers to find their own answers online. But text-heavy FAQs and poor website design pose hurdles, without the personal touch that many of us want.
- No face time. Customers and service agents remain ciphers to each other. How is a person reacting to what the other is saying? Do they look like they're engaged in listening? We don't know, and perhaps as a result, outright hostility can see more likely than genuine connection.
But imagine a future that looks like this in a metaverse environment (for illustrative purposes only):
- Greater autonomy. With problem areas defined much like in a physical location and an information desk to answer questions, for example, we can immediately go wherever we decide best fits our needs. No more "Listen carefully as our menu options have changed."
- Interactive kiosks and videos. These, available around defined problem areas, offer a more engaging approach in the metaverse — especially as you wait for available agents. That would be much better than being on hold and staring into space as dreary smooth jazz plays on repeat.
- More human connection. Webcams and avatars — or simply even uploaded photos — can replicate the in-person experience much more effectively. Greater potential for human understanding, yet still mixed with at-home convenience, is perhaps the greatest perk.
For companies, the metaverse offers a way to deliver a differentiated and engaging experience for customers but also for service agents. Amid the fallout from the pandemic, these environments align with enabling remote work while still delivering face-to-face interactions typically lacking in call centers and other hubs. While the specifics may remain fuzzy, the future is there for us to build — starting now.
What other customer service problems do you regularly encounter? And can the metaverse fix them?
The views and opinions expressed are solely those of the contributor and do not necessarily reflect the official position of the ANA or imply endorsement from the ANA.
Shubhra Kathuria leads Metaverse and Foundry efforts at EY wavespace, EYs innovation and growth centers. She has been helping some of the largest brands across the globe transition to, and utilize the full potential of the Metaverse; pushing the boundaries of how we will shop, learn, play, work, and interact in this next evolution of the web. Shubhra firmly believes human-centered design and collaboration are at the heart of creating great products, services, and experiences. A lot of her work is in bringing together diverse minds, new technologies and business models – leading to innovations that move businesses forward.