In 2016, major products from Google, Oculus VR and Sony were introduced into the market. Facebook also acquired more AR and VR companies after it bought Oculus at a price of $2.1 billion.
All these companies underscored Facebook’s belief that AR and VR will soon become the next frontier. As a result, these AR and VR technologies will eventually become integrated into every platform that people consume on a daily basis. Experts estimate that the fields of AR and VR will continue to experience growth and by 2025, it will turn into a $95 billion market.
To date, gaming and video entertainment are among the creative economy industries that show huge demand for AR and VR technology. It is also gradually penetrating into education, healthcare, and real estate industries. But, how do these VR and AR technologies impact the world of marketing and advertising? Will it serve more as a boon than a bane? Read further to find out.
What are AR and VR?
AR stands for Augmented Reality and refers to the enhanced version of what you see in reality, with the help of technology. AR is used to add information to an image that is created. Many AR apps these days use the smartphone camera in showing people a clear view of the real world right in front of their naked eyes, while also adding digital information which may include images or texts, right on top of that specific view being created.
On the other hand, VR stands for Virtual Reality which makes use of computer technology in creating a simulated environment. When you use VR, you will be able to view a completely different reality than the view that you can actually see in front of you. A Virtual Reality can either be an animated scene created in a VR studio or something that’s artificial.
You can move around and look at the view in different directions as if you were actually in that place. With the presence of virtual reality apps, you will be able to explore places that you’ve never been to before.
The Transition From Mere Observation To One That Allows Consumers To Be Completely Immersed
AR and VR are the answers to every artist’s dream of being able to build different worlds, in pixels. This new creative medium replaces rectilinear devices with the kind of technology that will showcase the world in expanding concentric circles. This, in turn, provides a higher level of experience and immersion that was never before seen by consumers all over the world.
These AR and VR technologies are indeed a game changer as consumers will no longer be viewing content. But, with the help of AR and VR technology, they will have the opportunity to be at the center of the inner part of the virtual world. Thus, enabling them to experience what it is like to be in an immersive nature of this technology.
Marketing And Advertising Content Can Now Be More Personalized
Some experts predict that the emergence of AR and VR will lead to a disruption in the way companies operate their businesses since there will be a major platform shift after the birth of mobile devices, PC and the web. The best thing about VR and AR is the fact that it enables marketers and advertisers to create so much value when producing personalized content and when developing new business models.
Eventually, business CEOs and marketing heads will be able to learn how to take advantage of these AR and VR technology and make these work to be more successful in all their marketing and advertising efforts.
AR and VR Allow Social Sharing To Increase Brand Awareness
The life of a marketing professional is not easy. Developing a certain method of marketing often elicits in them some mixed emotions of excitement and fear that whatever brand message that they could come up with will only be ignored. Thus, knowing up to what extent people are aware of their brand is a question that often ruminates in a marketer’s mind.
Luckily, virtual and augmented reality offers marketers with new channels where they could increase brand awareness. It is because AR and VR enabled them to create personalized characteristics of people engrossed in social media and allow them to experience the created content from the first-person point of view.
Newly developed brands these days can also get ahead strong in their marketing efforts if they take advantage of AR and VR right away. If marketing platforms are created in a way that users can share the AR content via social media, there is no doubt that increased brand awareness will be achieved soon despite the fact that the brand is still new to the market.
If AR and VR apps give people the opportunity to share their experience on different social media networks, creating a noise about the product will soon naturally just take place.
So, even when augmented and virtual reality is not yet part of mainstream marketing labs in many parts of the globe, soon they will become an indispensable part of it. Marketers and advertisers will start to recognize its potentials and benefits and will have it soon as part of their marketing budget.
AR and VR Help Consumers Make Better Buying Decisions
Marketers and advertisers will be able to measure consumer engagement as they activate specific metrics with regard to the amount of interaction being shown by the consumers with the created AR and VR solutions.
Every entrepreneur is aware of the fact that the ultimate purpose of creating sensible marketing and advertising solutions is to be able to come up with sales. Plus, the goal is to see to it that for every successful sale, there will always be a satisfied customer who will keep coming back for more.
So, once these consumers are exposed to the immersive nature of AR and VR, their expectations about that certain brand will also increase, thereby creating a higher level of that element of surprise to make the brand as every consumer’s first choice.
There is no doubt that Augmented and Virtual Reality is here to stay for the simple reason that it does work wonders in improving every business’ marketing and advertising solutions. As more brands recognize its potential, marketers may need to explore and learn more about how these AR and VR technologies help them create better consumer experiences.
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