Of the synthetic worlds’ new ways

Over the past few years, synthetic worlds, like Second Life and some 50 others, have created a new way for people to socialize, entertain, innovate and transact business — in itself, this can be a harsh reality for many organizations.

Why is that?

Mainly because traditional inward-focused business models may not have the long-term sustainability to survive much longer, at least in the online realm.

If you’re new to this online phenomenon, consider that synthetic worlds are basically computer-based simulated environments that allow for multiple users to inhabit and interact with each other through 2D or 3D graphical representations of humanoids and other forms (also known as the “avatars”).

Also note that these virtual words resemble the real world with rules such as gravity, topography, locomotion, real-time actions and communication.

Businesswise, the typical process for a company to get some kind of value out of synthetic worlds starts with (1) a sound understanding of the virtual environment at hand, (2) the launch of a test (or prototype) environment followed by a (3) full implementation and hopefully, regular follow-ups.

Companies need to realize that, in these new virtual environments, self-organized consumer communities (think of them as ongoing uncensored “60 Minutes” shows on steroids) can lead to lucrative opportunities or, if the balance should swing in the other direction, present pretty self-evident (and dramatic) new threats such as when a business (or one of its products) gets on “the bad side” of one or many members, in a given synthetic world.

Taking a long-term strategic approach to assessing the pros and cons of virtual environments ensures, at the very least, that enterprises decide to venture into an environment based on a thorough evaluation of its possibilities… and its risks. As the consumer environment alternatives change, virtual environments offer new routes to market and since the traditional business model will likely be unable to cope with it, the opportunity is that much more significant.

As synthetic worlds stand today, companies that explore and understand these environments will likely win consumer buy-in along with better loyalty tomorrow.

Tags: synthetic worlds, virtual environments, avatars, socialize, entertain, innovate, transact, online