For years, virtual reality (VR) technology has been debated and hinted at, but this year has seen some substantial advances. While there is still a long way to go before VR can be deemed a mainstream technology, now is the ideal time to evaluate its function in business and how it will affect marketing.
What is virtual reality?
The Virtual Reality Society defines virtual reality as “a three-dimensional, computer-generated environment that can be examined and interacted with by a human.” “That individual enters this virtual world or is immersed in this environment and can manipulate items or perform a series of actions.”
VR technology is becoming more affordable and cost-effective due to customer demand and new advances. This has created a lot of excitement and order in the market and a lot of interest from businesses looking to get in on the action.
Why is virtual reality so effective?
If you’ve never tried virtual reality before, you’re probably wondering what all the excitement is about. If we had to summarize it in four bullet points, it would look like this:
Novelty. For starters, virtual reality is “cool.” It’s different, it’s cool, and it’s never been done before. That, in and of itself, provides a market allure.
Immersive. Media has gotten increasingly immersive over time. The more visually appealing and engaging a technology is, the more effective it is, from television and video games to social media and mobile devices.
Memorable. Did you know that visuals are processed 60,000 times faster by the human brain than text? As an output, it stands to reason that VR experiences are even more memorable than photos, luring users back for more.
Story-based. Finally, virtual reality is frequently based on narrative. You have a recipe for success whenever you have a visual medium that can be used for storytelling.
Virtual reality is here to stay. It will be great to witness the developments achieved in the following months, from personal use to commercial applications.
What is its function?
As previously said, the possibilities for using VR technology in marketing are nearly limitless. Let’s look at some of the applications:
Incredible adventures. You may transfer your customers to any scene in the world with virtual reality (or even your imagination). Marriott recently accomplished this by collaborating with Framestore VR Studio and Relevant to offer customers virtual tours of vacation spots such as Hawaii and London. It was a huge hit, demonstrating the power of virtual reality.
Customer training. What better approach to teaching customers about a subject than to get them involved? This is exactly what the Hacienda Patron tequila distillery accomplished recently when it gave customers a behind-the-scenes glimpse at the production process. Customers felt more connected to the brand as a result.
Fresh thinking. While newspapers are rapidly disappearing, major corporations seek new methods to stay relevant. This year, The New York Times published a series of virtual reality films for its subscribers.
The possibilities are boundless, and marketers are looking forward to additional breakthroughs in VR technology to take advantage of this powerful storytelling medium.
I was putting everything together.
VR technology, particularly in the marketing profession, is intriguing and promising, and it can completely transform the way marketers interact with customers, having a long-term influence on organizations everywhere. What are your thoughts?
