Virtual and Augmented Reality revolution is coming. That’s a fact – No matter what the naysayers and critics say, starting with the Oculus Rift premiere last year and Pokemon Go astonishing worldwide popularity, the newest technology, and its marketing potential has already been noticed by the big brands which are investing millions of dollars into it.
Caption: Not as popular as it was just a few months ago but a real game changer for augmented reality. And those who quickly understand how significant the changes are going to be, stand a chance of getting all the benefits, early adopters usually get – media hype included. But media attention is not the only reason why your agency should include VR in its offer:
1. VR Will Change the Way People Think of Many Traditional Industries
The potential of virtual reality is huge, and hundreds of companies from a variety of different verticals are already taking advantage of the new technology. Theme parks allow customers to virtually experience some of the rides, before they even arrive at the venue, fashion brands invite their clients to participate in fashion shows using nothing more than VR headsets, and non-profits use the technology to bring people closer to the problem they are trying to solve. And the best is, all of that can be experienced regardless of people’s location.
2. Four Generations of People are Waiting for the Virtual Reality
Another critically important (and equally optimistic) statistics for all marketing agencies are the ones focused on demographics. According to them, the virtual reality is awaited by people of four different generations – Generation Z, Millennials, Generation X and Baby Boomers – all of them already used to smartphones and the Internet. While for every one of them this technological revolution will mean something different, companies are already fighting for their attention with everything VR has to offer.
3. Your Future Audience is Already Used to the Virtual World
In just a little over 20 years, the number of people using the Internet grew from a couple million to a few billion around the world. And thanks to that, many subsequent technologies got adopted even faster. People are already used to the Internet and smartphones to a level that should make the transition to 360° content smoother than ever. In fact, the first ads using 360° video and graphics are already here and thanks to the media coverage, they are being watched by millions all around the world. And ads are just a part of the big VR world – it is predicted that by 2019, there will be 110 million of consumer devices in the United States alone with embedded intelligent virtual assistants, all with a tremendous potential for VR solutions. Speaking of figures…
4. Numbers Don’t Lie – the Industry Is Growing Rapidly
While the reality is virtual, the numbers are real. According to Deloitte Global, VR industry has hit its first magic billion dollars in hardware and content sales in 2016. And the overall worth of the market is predicted to grow at an exponential rate for the next couple of years, hitting 21.8 billion in consumer spending by the year 2020. What’s even more important, these numbers don’t even include augmented reality – the whole VR and AR market is forecasted to be worth $162 billion within the next three years. But it’s not the statistics that made the VR so important for every marketing agency out there.
5. It’s Going to Be Marketer’s Paradise
While it’s all just a forecast and there’s definitely a lot of hype surrounding augmented and virtual reality, it really offers something no other medium ever did.
Caption: Instead of interrupting the experience, create a story and let users dive into it.
The biggest advantage of virtual reality is not in how fast it grows but in the intensity of user’s experience. Users are no longer just passively watching the screen but are completely immersed in everything that they see. This eliminates a lot of distractions and lets users focus a lot better on company’s message. In fact, for the first time in history brands are no longer forced to interrupt user experience but instead can create it. Of course, it’s not going to be easy – users will still need to be educated and entertained in the process. But the emotions generated by the VR experience can be a lot stronger and more memorable, making the creation of captivating stories more profitable marketing-wise than ever before. And thanks to the wow effect, those who start early stand a chance of leaving a long-lasting impression on their customers.