How VR will change advertisingFebruary 21,2018
Virtual Reality will eventully take over the way we watch and see movies, series, television shows... It definitely has the potential to make you feel like living in a luxury apartment or experience a rain forrest in more vivid way. As it is gaining more popularity, VR is slowly sliping into the advertising industry as well and few leading brands out there have already realized the importance of it. That’s why we thought of letting you know how Virtual Reality has got the potential to change the future of advertising and take it to the next level.
Recent studies show that VR is only popular among advertisers who work for the tech industry. Others don’t have a clear understanding at all, regardless of the benefits that are associated with it. However, few leading car brands have also taken the required steps in order to incorporate Virtual Reality into their advertising campaigns. Volvo, Jaguar and Audi have already created their own VR ads.
Knowingly there is a fear among people before they try out a new product or a service. Due to that, most companies still prefer to stay with the products or services, which they are familiar with, no matter even if a better product is available. For those looking for new opportunities and innovation seekeers, that’s where virtual reality can come in very handy and will be able to assist in reaching goals effectively and less expensive. Unlike traditional advetising, Virtual Reality has got the ability to provide users with a more vivid and . Therefore, you will be provided with the opportunity to witness something, without leaving the comfort of your home. Then you will be convinced to go ahead and purchase that specific product or service. This is one of the most prominent benefits that VR can deliver to advertising campaigns.
The popularity of trial practice is increasing along with time. This is another reason available for the marketers to think of when using virtual reality as an advertising fannel. Potential customers would seem more tempted with the trial experience that they can go through with minimum hassle. All these new technologies has forced traditional advertising to become obsolete or to adapt to them. Nowadays advertisers are now provided with the opportunity to engage with their consumers in a more life-like way, with the help of virtual reality. VR will become soon in a very powerful tool for marketers. And it will be possible for the advertisers to make sure that they get the maximum results out of the efforts that they spend on the campaigns.
From recent studies, it has been identified that branding campaigns are evolving from storytelling models to journey marketing. Story telling has been for the past few years, the trendiest approach to marketing for those companies who are always innovative, but thanks to new technologies, this trends seems to be heading into a new direction: journey marketing. This is where consumers are walked through all the experiential steps into a purchase fullfilling at the same time customers expectations. Augmented Reality and Virtual Reality would play a major role behind this, as both allow business to present their products in more real-feel-like manner. With the help of the technology, it is possible for the marketers to customize experiences according to the audiences. Therefore, it will be possible to take the potential customers to areas, which they cannot travel in real life. This enhanced live experience will help the customers to get a deeper understanding about a specific product, solution or a service. Therefore, it is possible to convince a potential customer to proceed to the payment.
Keeping the brands aside, even the general public is still not aware of what VR capabilities are. From a recent study that was conducted by Forrester Research, it was identified that about 42% of the adults who live in United States have never heard about virtual reality. Therefore, it would take some time for the marketers to take required steps in order to launch their VR based marketing campaigns and get the best results out of them.
Another research was conducted by Lifecycle Marketing with the objective of analyzing the popularity of VR among advertisers. From this study, it was identified that only 8% of the advertisers have started using VR technology in their marketing campaigns. Moreover, 35% of the advertisers stated that they don’t have any intentions to incorporate VR into their promotional campaigns in the near future. 57% of the advertisers who took part in this research stated that they don’t find VR useful because of the industry that they are based in.
Moreover, 35% of the advertisers stated that they don’t have any intentions to incorporate virtual reality into their promotional campaigns in the near future.
This can be considered as the main reason why VR is only popular among advertisers who work in the tech industry. Only they tend to believe that virtual reality is related to them and others don’t take any steps in order to get the benefits associated with VR. However, it is powerful enough to deliver amazing results to businesses that belong to any industry, The way how Coca-Cola uses VR to promote their products is a perfect example to prove the above mentioned fact.
In general advertisers and marketers seem to be quite reluctant to adopt new technoligies like these. In other words, they prefer to move ahead with the tried and true methods such as video marketing and social media marketing, instead of trying new technologies such as virtual reality. It is true that these traditional marketing methods are in a position to deliver effective results. However, we cannot predict that they would remain productive in the future, especially when new technologies such as VR become mainstream among consumers.