The Future of Metaverse Marketing and AI

(00:00)

I want to welcome Alicia Rapaport from S&P Global. I've been following her work for a while, and I'll let her introduce herself. Alicia, why don't you share who you are and what you're working on? I'll make you a co-host so you can share anything you’d like. Welcome back, and welcome, everyone, to this Insiders Edition. I’m excited to learn from you today.

(00:41)
Thank you, David. Thanks for having me. Hello, everyone—it's nice to meet you all virtually.

A little about myself—I have an interesting background. I spent the first part of my career in healthcare, working within the system to build a Child Life program in hospitals and support pediatric patients. I was involved in program development, marketing, and fundraising, which sparked my interest in marketing. That’s what ultimately led me to what I’m doing now.

(01:19)
In 2013, I started my own marketing firm, working with a range of clients, from startups to established businesses. It was an incredible experience, allowing me to learn about branding and different industries.

In 2020, I joined S&P Global. I initially started as a contractor through my own company, just before COVID hit. After six months, I was offered a permanent role, and I’ve been here ever since. I often joke that I’m an "S&P COVID baby" because I joined during a time of significant change, especially in marketing. Everything that had been done in person had to shift to virtual, which presented an interesting challenge. I’m sure many of you in marketing can relate to how much the industry evolved during that time.

(02:01)
I’ve worked in various areas at S&P Global. I started in the ESG division, helping develop what is now known as Sustainable1, which plays a key role in our brand's sustainability efforts. It was an exciting time to be part of that development.

A few years ago, I became interested in AI. It actually started as a marketing contest—“Think outside the box, come up with something new and engaging.” I thought, “What if we created a metaverse where potential prospects could interact with our products?” That idea later came to life.

(03:17)
We have an incredible essential tech team at S&P Global, doing amazing work in AI. I connected with them, and that’s how this journey really took off.

I’m going to share some slides to give you a better understanding. Am I sharing the right screen?

(04:10)
Yes, AI and marketing.

Great. So, obviously, I’m speaking to an audience already familiar with AI and virtual reality. However, in financial services, virtual reality isn’t as commonly used for marketing and prospecting. If you attend third-party events, you don’t often see companies using VR headsets to engage customers.

(04:44)
The benefits of using the metaverse and VR for marketing are significant. Personalization is key—we can create branded experiences tailored to a company’s specific focus. It allows for immersive engagement, making interactions more interactive and memorable.

Additionally, we introduced gamification. People are naturally competitive, so we designed experiences that encourage engagement through interactive challenges. It’s not just about learning; it’s about making the experience enjoyable and rewarding.

(05:53)
There’s also a competitive advantage. This approach helps differentiate our brand, allowing us to amplify and expand our strategies. The retention rate is also a major factor—when someone is fully immersed in a VR experience for five to seven minutes, they aren’t distracted by their phone. They are truly engaged, processing the information we’re providing.

(06:27)
We piloted the metaverse last year at a third-party event to gather feedback. Attendees—both clients and prospects—were highly engaged. Many said they hadn’t realized the full capabilities of our products before the experience. This year, we’re expanding on that success, incorporating gamification and refining the experience.

(07:37)
Moving forward, we plan to use this tool for webinars and training sessions. We’re also launching an AI bot, which I’ll discuss in more detail.

(08:17)
Here’s a visual of our metaverse. Initially, we used a gaze-based interaction—users would look at a coin to unlock videos. This year, we’re incorporating a puzzle element, requiring hand interaction, which we believe will make it even more engaging.

(08:53)
Where does this experience take place, both virtually and physically?

(09:22)
We’ve been using it at trade shows, where we have a booth. It’s a great draw—people see it and get curious. Instead of just picking up brochures or swag, they can actively engage with our products.

(10:04)
Is this built in Horizon or a custom platform?

(10:40)
It’s a custom-built platform developed with a company called Hyperspace. They’ve been working with S&P Global’s essential tech team for years, and that’s how I got connected with them.

(11:21)
One of the newest features we’re working on is our AI bot. We’re training it to answer user questions, guide them through the metaverse, and provide relevant product information. If a question goes beyond the bot’s capability, it can direct the user to schedule a demo or meeting with a real person.

(12:43)
Will this AI persona only exist in the metaverse, or will there be a standalone version?

(13:14)
For now, we plan to keep it within the metaverse. Our focus is on creating depth of engagement rather than just broad reach.

(14:19)
Do users need a headset to access the experience, or can they use a desktop version?

(14:58)
There’s a desktop version, so you don’t need a VR headset. While headsets enhance the experience at trade shows, people can also access the metaverse remotely via desktop.

(16:53)
How often are you deploying this?

(17:43)
Right now, it’s being used at major trade shows. Last year, we focused on piloting and gathering feedback. This year, we’re refining and expanding our approach.

(19:00)
Are sales teams trained to guide visitors through the experience?

(19:38)
Yes, we’re in the process of training them. During our pilot phase, salespeople were excited to show it off, and they played a big role in engaging attendees.

(20:13)
How do you scale this?

(20:43)
Scaling involves increasing the number of VR headsets at events and leveraging the desktop version for broader accessibility. We also customize the experience for different events, incorporating branding and interactive elements like digital swag.

(21:19)
What’s the cost of the hardware and metaverse development?

(22:03)
Headsets range from $300 to $400. Development costs vary, depending on complexity, from $5,000 to several hundred thousand dollars. We built ours in phases, gradually adding features.

(23:29)
What’s the expected impact? Are you aiming to reduce sales costs by providing more information upfront?

(24:24)
Our goal is to engage clients in new ways, provide customized product information, and improve retention.

(26:21)
Are you using AI in other aspects of your work?

(27:39)
Yes, we have an internal AI tool called Spark Assist, which helps with workflow automation and data analysis. We also launched an AI marketing cohort to explore AI’s role in marketing strategy.

(35:33)
Once we have KPIs, we’ll measure how this impacts lead generation and sales.

(36:15)
It’s all about testing and evolving. Just like when social media started, we had to experiment. The same applies here—taking the risk to see what works.

(41:14)
Thanks, everyone, for joining! Looking forward to sharing more updates in the future.