When cinematographer Morton Heilig invented the Sensorama in an attempt to create a multisensory movie watching experience, little did he know that his efforts would go on to have a profound impact on society. He was pioneering the technology that we now know as virtual reality. VR has created new possibilities in a multitude of industries, including entertainment, medical, education, fashion, and so on.
It is estimated that virtual and augmented reality technology was responsible for $29.5 billion in revenue last year. That number will continue to grow as more companies invest heavily in both VR and AR.
From a marketing perspective, virtual reality is a powerful tool for improving the user experience and finding new outlets for connecting with target audiences. Combine that with the increased incorporation of artificial intelligence to VR and we are looking at game changing technology for advertisers and marketers to leverage for years to come.
With so much to keep up with, we take a look at 4 Ways that virtual reality will influence the future of marketing.
VR vs AR
Before we get into the thick of it, we must first define the difference between virtual reality (VR) and augmented reality (AR). This video does a solid job of explaining the key distinctions between the two.
In short, augmented reality adds digital elements to a real world setting. How it works is that whether it is through your smartphone or another device, you are able to view your current setting in real time, but it is overlaid with digital elements. A popular recent example of augmented reality technology is Pokémon Go.
Virtual reality, on the other hand, is a fully immersive experience outside of the real world. Usually done through a VR headset, what you are viewing is a totally fictional environment. While it is mostly known for being used in gaming, VR has been used for other purposes, such as teaching, practicing medical procedures, and is even used in therapy.
Now that we have went over the basics of how the technology works, let’s move on to how it will impact the future of marketing.
Increased Advertising In Game and In App
The success of the recently mentioned Pokémon Go has led to a plethora of games and apps using both augmented reality and virtual reality technology. This opens up new opportunities for advertisers to reach their audience through these platforms. It also presents a different avenue that marketers can collect data from that can be used in future marketing or remarketing efforts. As more games and apps use VR technology, we will have a better understanding of how to target these users based on factors such as what types of games they like to play, what kind of apps they download, and their behavior on each medium.
One thing to keep in mind, however, when creating in game or in app advertisements, is to not irritate our audience. When we play games or use our favorite apps, we do not want to be interrupted by constant advertisements. The challenge for marketers will be to design ads that integrate well with the chosen game or application as to not disrupt the user experience or alter it in a negative way.
Image from The Franklin Institute
Mixed Reality
Improvements in artificial intelligence have led to newer types of reality that are growing in popularity, with mixed reality being the next big thing. Mixed reality is essentially a higher form of augmented reality. The main difference between the two is that augmented reality simply overlays digital elements on a real world environment, while mixed reality incorporates digital elements that interact with the real world. So rather than simply having an animation showing on your screen or headset, mixed reality allows users to fully engage with the digital assets they see on screen. The digital elements themselves can also be affected by what goes on in the real world environment they are being projected onto.
For marketers, this enhances how consumers are able to test out products by allowing them to use the product virtually in a variety of settings and situations. This technology also significantly improves the user experience at virtual events, which will be further elaborated on in the next section.
Image from Microsoft
Virtual Events Become More Accessible and Meaningful
VR, AR, and mixed reality technology blurs the line between virtual and in person events. Imagine a trade show for example. Technology now allows virtual attendants to be able to walk through the venue, experience product demonstrations, and potentially even try using the products themselves. In person events can also enhance the experience for their physical attendants by having specialized booths or areas where attendees can interact with their products using VR or AR.
Companies can now host events that are more accessible and reach a larger audience. An event held in a certain location can now be attended by anyone in the world from the comfort of their own home or office. Language barriers can be overcome because digital elements can be programmed to appear in the language that is most relevant to each individual attendee. People with disabilities can now easily participate in events and activities that may not have been possible to do so beforehand. Marketers will need to account for the broader audience that can attend events because of VR, AR, and mixed reality, while also finding ways to to use the technology to enhance the overall user experience.
Image from Event Manager Blog
Customer Support and Product Training
An important aspect of marketing is after purchase support. It is common for consumers to have questions or issues that come up after they start using a product. The way that companies handle these post purchase issues can determine whether the consumer stays loyal to their brand or seeks to take their business elsewhere.
As VR technology gets more sophisticated, we will be able to provide better customer support services. Instead of simply answering a customer’s question, we will have the capability to actually show them how to solve their problem. Another form of customer support would be to have product training sessions done through VR or AR. This way, consumers will have a more immersive learning environment to better understand your product.
Image from HubSpot
Conclusion
As marketers, virtual reality offers us exciting opportunities connect with our target audience. As the technology grows in popularity, it will not be a matter of if we should be using VR as part of our marketing strategy, but how.
If you have any questions about VR marketing or want know more about how it can potentially be beneficial for your marketing strategy, feel free to contact us using the form below.
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