Unraveling Metaverse's Retention Secrets: The Key to Profitability in a Virtual Economy

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Author(s): R. Akash (SRM Institute of Science and Technology, Chennai, India)and V. Suganya (SRM Institute of Science and Technology, Chennai, India)
Copyright: 2024
Pages: 32
Source title: Creator's Economy in Metaverse Platforms: Empowering Stakeholders Through Omnichannel Approach
Source Author(s)/Editor(s): Babita Singla (Chitkara Business School, Chitkara University, India), Kumar Shalender (Chitkara Business School, Chitkara University, India)and Nripendra Singh (Pennsylvania Western University, USA)
DOI: 10.4018/979-8-3693-3358-7.ch002

Keywords: Human-Computer Interaction / Information Science Reference / Media & Communications / Virtual Communities & Virtual Reality

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Abstract

As the Metaverse continues to surge in prominence, this chapter delves into the often-overlooked realm of customer retention within this digital landscape. Recognizing the pivotal role that customer retention plays in ensuring the long-term sustainability and profitability of virtual economies, this study endeavors to uncover the intricate secrets that drive lasting customer engagement within the Metaverse. At the heart of this chapter lies the development of a comprehensive conceptual framework designed for adoption by industry stakeholders. This framework acts as a bridge between theory and practical implementation, offering a multifaceted perspective on the factors that influence customer retention. Through literature research with a rigorous analytical lens, this study aims to equip businesses, creators, and investors with the knowledge necessary to thrive in the ever-evolving Metaverse. By applying this framework, stakeholders can cultivate enduring customer relationships, thereby transforming the Metaverse into a hub of sustainable profitability within the virtual economy.

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