Recently Facebook took over the promising Oculus VR headset with an investment of $2 billion. There are similar moves from other industry giants like PayPal, Sony, and Google. Sony’s futuristic project Morpheus to PayPal’s interest in artificial intelligence with the new takeover of software company Vicarious To Google’s VR enabled Glass Smart Specs hitting the market, the marketers and business leaders are now showing unprecedented interest in VR Technology. So, VR technology is no longer going to be kid’s plaything in their computer games, but they are increasingly going to have serious implications in every walk of life including marketing and business moves.
Virtual reality, in a nutshell, is an advanced computing environment and interface that can deliver simulated and immersive experience to users. The immersive experience and simulation either can be offered through gadgets like smart glasses, VR headsets or through device screen. Earlier with augmented reality technologies like GPS, Google maps, iBeacon, etc. we have experienced enough of an immersive environment. Now even augmented reality technologies are fast transforming into augmented virtuality.
1. Virtual Reality for Remote Product Demo
Thanks to VR the salesperson is not going to knock your door for a scheduled appointment for the product demo. Thanks to virtual reality, marketers now can show their offerings right in your gadgets with immersive life-like experience. Besides the huge boosts in their productivity and cost advantage, it is going to offer consumers lot of ease in making their decisions based on experience that counts as ‘real’.
2. Virtual Reality for Remote Education
Online classrooms are already there for more than a decade and they are part and parcel of modern education systems. But often online courses are underestimated because of the lack of human contact and hands-on experience. Virtual reality is likely to change this perception as immersive, practical hands-on training and education will be possible remotely on your devices. Thanks to VR more classrooms will become virtual and VR educational apps will take over.
3. Virtual Shopping
Getting your favorite pizza delivered by a drone right on your rooftop is no longer a science fiction. Already a pizza chain has experimented with that. Now, virtual shopping will take retail to the next level. Just get a feel of the streets, look at shop windows and browse the same products displayed on those windows right from your device screen. Virtual reality will take the shops along with its look, feel, ambience and products right on your device.
4. VR Advertising
Just think of the city walls showing live streaming video ads like your television. Marketers are no longer fighting for ad space as ads will only be shown contextually. With the demographic study of an area, user research and based on the location and context of the users, relevant ads will be displayed.
5. Win-Win Situation for Marketers and Consumers
Think to such an extent social media impacted marketing? Any marketers know the pitfall of bad comments on social platforms. In the future, with the proliferation of VR, a bad product and its derogatory experience will spread among communities like wild fire. So, VR is actually leading marketers and consumers to a win-win situation.
6. Faster Product Development and Lesser Time to Market
Thanks to VR the huge laboratory time for developing a new product can be saved to a great extent. With virtual reality the customer research and feedback can have the real-time edge and a whole array of background operations can be fast-paced. This will allow faster product development and shorter marketing cycles.