The document discusses how businesses can operate in the metaverse and provides guidance on planning a venture in virtual worlds. It outlines general categories of goals for an organizational entry into the metaverse like exploration, improving effectiveness, and generating revenue. It also covers identifying the target market and audience, choosing a platform, developing a marketing plan, and managing the implementation and community to support a successful virtual world presence.

1. WORKING AND LEARNING IN VIRTUAL WORLDS – DAY 3 William Barnett, Ph.D. Entergy Endowed Professor of CIS College of Business Administration, University of Louisiana at Monroe

2. How can business use the Metaverse as part of their ongoing operations? What kinds of opportunities can an entrepreneur/organization pursue? How do I plan for providing goods and services in the Metaverse? What are some things to remember about running a venture in the Metaverse? Doing Business in the Metaverse

3. Doing Business in the Virtual World Virtual Worlds have wide capabilities for commerce and supply chain support What happens when Globalization goes Meta? Additional layer – Meta or Virtual layer Customers have distance problems too Economies and Support Ecologies expand into the Virtual World

4. Virtual World Enabled Economies Virtual World Payments Real World Payments Real World Svc/Delivery Virtual World Svc/Delivery Sales and Marketing Support Ecology Virtual World Trade * Source: Second Life Virtual Worlds and v-Commerce, Daden Ltd. 2007

5. Planning for the Virtual World Organizational entry into the Metaverse should support goals and objectives A Virtual World project starts like any systems project Establish Goals Identify Constraints Organizational Technological

6. General Categories of Goals Exploration – Work out issues early Improve Effectiveness and Efficiency Support internal/partner communication Concept Development and Design Training Recruitment Support societal initiatives (compliance too) Generate Revenue!! Adapted from: Virtual Worlds and Serious Business, Daden Ltd. 2007

7. Identify Market/Audience Who is this presence for? Internal or External Focus Mass Market versus Market Niche Virtual World Marketing must focus on the AVATAR Avatars are connected to People People have MONEY Must think of avatar motivations as much or more than demographics

8. Choose a Platform Virtual World versus Virtual Platform Virtual World – exists and is generally populated Virtual Platform – must build world Public versus Private Worlds Gain control and security in Private World Must also recruit your audience if not internally focused

9. Develop Marketing Plan “ Build it and they will come”….NOT!! Based on target audience, may need to develop awareness and loyalty Strategies: In World Hybrid Real World

10. Manage the Implementation Developing a Virtual World presence has many of the implementation issues as other software and web projects Build versus Buy versus Contract Grand Design versus Pilot Projects Must consider design metaphor True Virtual Worlds are Open Metaphor use can convey roles and procedures

11. Manage your Community Most critical success factor is to manage presence as a Community Virtual worlds are about interaction You MUST connect with the community that you are trying to attract Web models may not transfer directly Have a plan for interacting with visitors Manage your presence Update content – provide a reason to come back

12. Any final thoughts, questions, or ideas? /clap

13. Faculty, Administration, and Students of PULV @NickWilson, @Intellagirl, and @BevanWhitfield for all their informative Tweets Daden Limited for their support for sharing knowledge Acknowledgements

14. “ No teacher ever starts out to a mediocre job…sometimes it just works out that way.” Please feel free to IM, Tweet, email me comments and suggestions to improve the quality of this seminar. Comments and Suggestions

15. Everywhere and Nowhere… Email: barnett@ulm.edu Second Life - Liam Gunes OpenLife – Liam Gunes (Norrington Region) Twitter – http://www.twitter.com/liamgunes Follow Me! Give me some good information, I’ll follow you back Facebook – William Barnett (surprise)