Of the many metaverse predictions we can make, shifting from focusing on the point of purchase to a recurring as-a-service model is one of the safest. Market trends have been pushing toward this for quite some time, embracing the idea of ongoing customer relationships as the way forward. Whatever form the metaverse ultimately takes, we can guarantee that the “Anything-as-a-Service” model will be a significant part of it. At this point, predictive data analytics suggests the trend will only grow stronger as the world becomes more attuned to an increasingly immersive and accessible metaverse of networks.

The Anything-as-a-Service model has already radically changed the way that multiple industries conduct their business. This model has several advantages compared to the traditional one-off customer point-of-purchase model. Every reason to believe those ongoing advancements in connectivity will foster a more interactive and long-term standard for business-customer relationships.

At Your Service

Anything-as-a-Service (also known as XaaS) was born of the software industry, and there you can still see it in full force today. For example, Microsoft debuted the then-named Office 365 as a subscription model, being one of the biggest companies to embrace the as-a-service models in such a big way. However, the process was known before then, and thousands of other companies do this same thing. It began in the software industry as a way of establishing regular customer interaction and soon grew to encompass the hardware and IT infrastructure industries.

While the model may have originated in the software industry, it is undoubtedly growing in popularity across different industries.

• Streaming media
• Food delivery services with subscription options
• Consumer goods services such as box subscriptions (which run the gamut of anything from gifts and cosmetics to at-home educational kits and more)
• Membership programs
• Retail and banking
• Transportation

In seemingly every industry, XaaS models have begun to crop up, helping companies to keep customers engaged in the long term.

This shift toward service models is accelerating, and indeed it’s becoming increasingly rare to find major consumer-business interactions that do not somehow use this model. There will always be a need for single-point customer interactions. However, predictive data analytics suggests that the increasing accessibility of cloud-based computing will only further enable large and small industries and businesses to use this model.

Anything-as-an-Advantage

The XaaS model offers a wealth of advantages to the business and the customer. For businesses, the obvious tangible benefit is a recurring revenue stream, enabling brands to stay ahead of trend-based metaverse predictions. Regardless of the industry type, there are a host of secondary benefits to consider with XaaS models.

First-Party Data

Perhaps a long-term customer relationship’s most important secondary advantage is access to first-party data. Cookies will soon go the way of the digital dodo, forcing another significant evolution in internet privacy and business-side data acquisition. Retail Media Networks (RMNs) are an essential step in the data revolution that will follow in the wake of third-party data phasing out. RMNs allow brands to build new and more direct points of interaction with customers. Combined with the proliferation of XaaS models, brands now have more control than ever over the nature of their ongoing customer relationships.

Experience

Necessity is the mother of invention, and in this case, the necessity of adapting to new models gives brands more experience in the aspects of interaction traditionally reserved for third parties or specialists. These opportunities allow brands to understand the customer experience and connect with the customer more accurately.

Familiarity

Consumers already experience a wide range of anything-as-a-service models in the form of subscriptions. Streaming media, food delivery services, software services, insurance, box subscriptions, the list is seemingly endless. However, the majority (57%) of consumers believe that this service model improves their experience over periodic, disconnected purchases. They feel closer to their chosen brands than with isolated points of purchase.

On the Shoulders of Digital Giants

Digital innovation led to the creation and proliferation of the XaaS service model, but other industries are catching up. Across the spectrum, metaverse predictions transform how businesses shape their infrastructure and develop their brands. This data-driven industry model allows businesses to build a holistic view of customer spending habits, preferences, and satisfaction. The most successful businesses use this data to refine their offerings and improve the customer experience.

Even traditional businesses are adopting the innovations of the software-based service model pioneers. Embedded services allow a steady stream of data, insights, revenue, and options. The data simply affords too many advantages to ignore, and businesses limiting themselves to only traditional physical models struggle to represent their brands.

The metaverse may not yet be fully realised, but the business world is helping to lay the foundational groundwork for whatever form it will ultimately take. Whether it’s integrating reward programs along with memberships, offering additional perks, or simply trying to reach customers that traditional physical models would otherwise miss, more brands recognise the growing ubiquity of services and the need for adaptation.

Every aspect of the customer’s journey benefits from the insights gleaned through data-driven service metrics. Personalising the experience is key to improving both sides of the interaction and upsell and cross-sell opportunities. Embedded finance, such as BNPL options, allow brands to reach greater segments of buying customers.

Anything-as-a-Service has changed how business works—and it looks like that’s just the start of the new industrial revolution.

Meeting the Metaverse

At Acxiom, we love data. We love technology and the many fascinating ways that people can use it. The metaverse is an exciting amalgam of possibilities. Its potential shapes today’s business models and is shaped in turn by it. We study the data, we predict the possibilities, and we are always ready to innovate.

If you want to keep up, follow the data. If you want to grow, lead the data. That’s what our work is all about.