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According to the Global News Wire, “The global augmented reality (AR) and virtual reality (VR) market is estimated to generate revenue of USD 22.1 billion in 2020 and is expected to reach USD 161.1 billion by 2025, witnessing 48.8% CAGR during the forecast period.”
Image Credit- Innovame
Augmented reality and virtual reality have become more accessible than before; with the reach it promises to attract viewer’s attention. And attracting a potential customer is all that businesses and marketers need to desire. Every brand needs to stay one step ahead of its competition, not just a brand; every small, medium and growing business uses marketing as a great tool to bring revenue. Using VR and AR as a marketing tool can be a game-changer for every kind of business.
A survey by Clutch found that about 17 % of small business owners are interested in VR and AR as a marketing tool.
VR and AR now have grown beyond the video games world. Being a businessman or businesswoman, you should be aware of the significance these technologies hold.
Check out some of the following facts to upgrade your knowledge;
Image Credit: Media Post
When choosing AR or VR for your business measuring budget and your goals might be the most significant aspect. Keep the following points in mind;
Implementing VR to attract customers can be a good strategy because; there are still many people not familiar with the VR experience. VR devices or technology is still not in reach to a lot of people, reasons can be it being expensive. So for the customers, who have not yet experienced VR (and those who have), VR can be fun.
You can make a deal with a superstore or a mall to install a VR device. Customers then can simply put on their headsets and have a unique experience; this can leave a strong impression on a customer. Check out the following video to get an idea;
Every business’s main goal is to get more and more customers to make a profit. Many businesses forget to keep one thing in mind- customers reach. If your idea, product, or content cannot reach potential customers then the whole hard work goes to the bin.
For companies or businesses that have their root in the entertainment or technology industry, the use of VR can prove to be successful. The main goal of using VR is simple- the brand wants to paint their product (whatever they are offering) as unique, adventurous, modern, and innovative. Before you think to invest a substantial amount of money in VR make sure to ask some key questions;
Remember Pokémon Go? What was the reason behind its huge success rate?
People went crazy over this game because they could play it whenever they wanted and wherever they desired. All they had to do was use their easily available mobile. AR is beneficial for the video game industry without a doubt, but it holds great scope for many other industries as well.
Image Credit: Vox
Businesses can help their audiences visualize what their product can look like in shape, quantity, or size. Familiar approaches of VR can be traced to popular social media apps as well such as Snapchat and Instagram.
The fast-moving consumer goods (FMCG) sector is ever-growing and thus it has gigantic potential to advantage from both VR and AR technology. Whether you are an entrepreneur or small business owner who wants to start an FMCG business or already in this business- AR and VR is a great option.
Image Credit: CSG
A customer journey is essential from the beginning, these days ecommerce shines, VR and AR can be incorporated at every step. Lots of retailers are investing in VR and AR to give their customers an enriched experience. Brand loyalty is important when you want to earn continuous success. Offering refreshing services from time to time can evoke customers’ interest in your product.
Augmented reality can make education more fun for the coming generation (as mentioned in our previous blog as well). Forbes published an article, The 5 Ways VR and AR Will Change the Way We Learn at School, with in-depth facts and knowledgeable points on implementing VR and AR in schools.
In the End: Want to add VR and AR in your business marketing? Reach out to us, Trigma Solutions, NOW for information and solution.
