Why Augmented Reality and Virtual Reality Will be Important for Your Business
The rapid pace at which the technology has grown over the years is second to none. Every day we hear about the exponential growth brought about by some of the brilliant minds of this industry. Blockchain, Artificial Intelligence, Edge Computing, Internet Of Things, and Data Science are some of the latest technologies being developed today. Some are already a part of our lives, while others still have a long way to go.
Augmented Reality and Virtual Reality are part of the same technology group. These are technologies powering industries with features that we have barely experienced. And yet at the current stage, both Augmented Reality & Virtual Reality have surpassed most of these technologies in the Marketing world. A fairly new marketing strategy implemented by the best in the industries, Augmented Reality and Virtual Reality Marketing will give you the competitive edge you need to make a mark.
Augmented Reality
At present, Augmented Reality is one of the freshest ways to introduce your Business. Augmented Reality is the key to generating compelling content. With Augmented Reality, you can provide your audience with a tailored personal experience. You can add customization to your apps, websites, softwares, products, and services. The consumers appreciate the level of dedication put into the advertising efforts. This level of detail also boosts engagement and leaves consumers wondering what’s next!
Augmented Reality offers new ways for your business to stand out: Content marketing is one of the most credible sources of information and entertainment. It has been powering businesses for decades now. It further stresses the need for incorporating AR into your content marketing plan. Presenting your customers a high-quality interactive AR content is a sure-shot way to bring in more leads.
Just think of what you can achieve with AR content. Instilling Trust, Building Bonds, Generating Excitement, Boosting engagement, Increasing Conversion Rates, and skyrocketing Sales. With the demand for new and unique content, AR Provides Businesses with an edge they have been lacking.
Is Augmented Reality Cheap? No, definitely not. But the proper implementation of AR strategies can generate a great ROI. And it is a more affordable alternative when compared to Virtual Reality.
Augmented Reality Business Models Examples:
Ikea Place App:
Pic Credit: Ikea Place App Video
Pic Credit: Ikea Place App Video
Effective, useful, and engaging, Ikea’s Place App will forever remain the first Large Scale AR app to go Viral. The app allows users to pick a piece of furniture from the shopping app and place it in their living room. It not only helps get rid of furniture that’s unlikely to fit in their home but also helps the people purchase ideal Furniture for their house.
Pokemon Go:
Pic Credit: Pokemon Go Launch Video
Pic Credit: Pokemon Go Launch Video
Remember the time when almost every kid was running around chasing pokemon? Before Pokemon Go, who would have thought that it would actually happen. Several other big-names have created games to market their products, but Nintendo takes it a step further by adding AR to the mix.
Snapchat:
Pic Credit: Snapchat New World Lenses
Pic Credit: Snapchat New World Lenses
Often overlooked, Snapchat filters have been augmenting reality before everyone else. But since Snapchat implemented additional AR features that are the lenses, it has increased engagement. The initial hype of AR marketing is the opportunity to attract your audience, the same way Ikea, Snapchat, and Pokemon Go did.
Virtual Reality
Augmented Reality is affordable compared to Virtual Reality. Although you do have the option to choose the level of immersion with Virtual Reality, a fully-immersive experience will be more expensive. The initial investment must seem like overkill, but the return on investment is worth it. It is only one factor to be affected. A well-established VR business model can bring in new customers as well as retain customers who might have been losing interest in your brand.
Augmented Reality and Virtual reality have numerous benefits over a variety of industries, from retail to medical training. Virtual reality has led to the development of imaging techniques that can help doctors, interns, and students understand human anatomy on a level that has never been studied before. While performing surgeries, a doctor can use VR to identify the issue with the person’s body, which will not only lead to a successful surgery but also save a lot of time. It increases the chances of survival reducing error margins.
Even though Augmented Reality is a marvel in itself, it is a dulled version of Virtual Reality. Virtual Reality engages customers on a level that their only focus remains on your products and services. It provides you a perfect opportunity to implement your business knowledge and build an interactive and immersive VR environment that will result in a sale. Virtual Reality is built around the idea that the customer gets to experience the benefits of your products before purchasing it., quite like a bakery offering free samples to its prospective customers.
Virtual Reality Business Models Examples:
Ikea Virtual Reality Showroom:
Pic Credit: Ikea VR Showroom Video
Ikea has mastered both Virtual Reality and Augmented Reality Marketing. With the move to use both these technologies, they announced their presence to people who were still unaware of their existence. People who try to use it for furniture businesses have big shoes to fill. We will wait for a better idea to beat IKEA’s Virtual Showroom experience.
McDonalds Happy Goggles:
Pic Credit: McDonalds Happy Goggles Assembling Video
Pic Credit: McDonalds Happy Goggles Assembling Video
A limited yet successful marketing endeavor: Mcdonalds Happy Goggles were a hit with kids of all ages as well as adults. They gave new meaning to the term wealth from waste. A few years ago, Mcdonalds rolled out Happy Meal boxes that could be turned into VR headsets. Once the happy Meal box are assembled into Vr headsets, all the customers had to do is insert their phones inside the headset.
Volvo Test Drive:
Pic Credit: Volvo Test Drive Video
Pic Credit: Volvo Test Drive Video
One of the most popular applications of Virtual Reality is in the Automotive sectors. Big-league automobile businesses such as Volvo are not the only ones to use VR Test drive to their advantage. Some newly-emerging automobile businesses have also managed to implement it. Successfully Launched in 2014, the application has had several updates and can be downloaded. Volvo made this move to reach the audiences where Volvo local car dealerships weren’t available.
Let’s get real! These are some top-notch businesses, as we have already discussed the big leagues. Their success story should help you understand how Virtual Reality and Augmented Reality can rig the game. In the future, our world will be powered with VR training centers to help reduce manual errors. There are a thousand different ways VR could be implemented: Movie and Tv show platforms can create a Virtual Reality Theatre where audiences can mingle. A scenario that we have already seen played on our screens, but it will soon be a part of our reality with a little assist from Virtual Reality.
