The Challenges And Rewards Of Virtual Reality For Small Business

Written by | Marketing Strategy

Once the domain of sci-fi and big-budget Hollywood movies, virtual reality (VR) and augmented reality (AR) have not only become “real” reality, but are as cheap and accessible enough as any other hot toy or gadget. And while, at the moment, VR headsets like Oculus Rift and Samsung Gear VR may not be quite as omnipresent as iPhones and Xboxes, they’re getting there: Experts predict that by 2020, VR will be a $30 billion business.

For integrated marketers, the shift promises to be a game-changer

As the media landscape becomes more fragmented, and traditional channels like broadcast become increasingly expensive and more narrow, audience, integrated marketers need unique, creative ways to capture their audiences’ attention. Right now, nothing else comes close to virtual reality.

One of the medium’s biggest challenges is also where its greatest rewards are found: how to move beyond an experience that’s merely “wow, this is pretty cool” to “this really made me feel something.” The results can be huge: according to a recent study, neuroscientists reported that a VR experience drove 27% more emotional attachment to a brand, compared to traditional methods. When you look at this this Dutch campaign for McDonald’s Happy Meals, it’s easy to see why.

It’s All About Catering To Your Customers

This isn’t just about creating programming, like a TV show, it’s about being able to put someone into another person’s set of shoes or perspective –such as Red Bull does here to dizzying but dramatic effect.

At the very least, VR could give your customers a different way to interact with your business, which can benefit organizations—like this casino of the not-so-distant future.

While large-scale VR experiences like these may not be in the doable-right-now realm for integrated marketers, VR lends itself to being an attention-getting lure at events; it’s becoming increasingly common in recruiting videos; it can lend richness to people-focused functions like education, support, and training; and augmented reality can effectively bring a catalog to three-dimensional life.

Last modified: July 17, 2017