The use of VR technology for business, marketing, and advertising is growing exponentially. With the number of head-mounted displays (HMDs) on the market doubling and approaching the ten million mark, businesses are seeking to understand the new frontier in VR so that they can incorporate the technology into their business model.
However, most of the technology out there is expensive and limited in its capacity. But, by taking advantage of the new Oculus Rift and the other headsets hitting the market, businesses can tap into a growing market of VR consumers. So what is special about this technology and what are the opportunities in this new VR technology market? Let’s answer these questions together.
VR in the Business Setting
It is expected that VR will be much more commonplace as a user experience for consumers in the future. This can be for both on-demand experiences and also for long-form VR experiences, such as education and training. With a whole pack of unique features, VR provides the potential to change the way we think about business and communications. It changes the relationship from the traditional two-way information flow between a consumer and the brand to a one-way experience. The best way to think about it is as a marketing channel – the way in which users are more ‘conversationally engaged’ with a brand.
Using data and insights and combining search, social, and video data, VR can be a great medium for brands to engage. The technology has the potential to really change the user experience in a good way. With the recent advancements in VR, users can engage in a one-way experience where they have to turn the camera on the device to experience the environment.
Brands can think about this in a much more immersive way, as opposed to a typical user experience where the user just reads text and sees images. For a marketer, this can be a great way to create an emotional connection with your customers. As a result, marketers that can tap into the medium will also have a powerful tool to communicate to their audience. The technology provides opportunities to enhance the experience of the viewer.
How to Use VR Technology for Your Business
Some of the biggest fields for VR right now are gaming, media, entertainment, design, and healthcare. There is even a field that allows businesses to run their own show in a 360-degree video. Thanks to virtual staging solutions from the spotless agency, you don’t have to be sitting at your desk or to be at a certain location. It is a completely different experience. The whole point of VR is that you can be anywhere that you want to be and get the experience that you want.
Although VR is exponentially growing in popularity, many companies are still not really taking full advantage of it. There are some businesses that are doing a lot with VR even if they are not using all the possibilities of the new technology. For instance, when was the last time you played any online games? You can still have fun with that, but it is no longer the best way to have fun. This does not have to be the case for your business. There are some people out there that are using VR in a creative way and that is the field of VR that you should be looking into.
Benefits of VR Technology for Your Business
VR technology has a significant impact on the way we all work, play, and interact. This has the potential to fundamentally change the way that we work and communicate with our customers, partners, staff, and peers, providing great new benefits. Here are some of the most prominent advantages of the technology which will definitely make you think about integrating VR into your business:
- Increased ROI through reduced costs and increased capacity;
- Innovation through the adoption of the latest software and hardware;
- Access to talent through high skilled employees and new recruits;
- Improved customer satisfaction through access to customer-specific solutions;
- A focus on safety and security;
- Increased brand awareness, and recognition of your products/services;
- Access to endless training and education opportunities;
- Better visibility in all areas of the market.
The use of VR technology can significantly improve a business’s image and brand awareness. With all these in mind, it is no wonder that virtual reality technology is hugely popular and is being used by organizations across the globe including:
- Google’s Cardboard VR headset has been downloaded almost 1.2 million times;
- The NBA is going to trial their own version of the technology;
- Disney and Universal have produced VR experiences for their parks
There is also a vast opportunity for organizations that are looking to expand into the virtual and augmented reality market to get a head start. All in all, the use of VR technology is now starting to boom, and it is only going to grow. We do expect that virtual reality will become the next big thing in the coming years.
