Public interest in VR (Virtual Reality) has gone far beyond gaming. The VR market is set to grow at an extraordinary rate in the coming years, with revenues from virtual reality software alone projected to increase by over 3000% in four years. These days, VR is no longer a virtual concept – it is a reality, and it’s becoming a part of the routine for an ever-increasing number of people.
VR has emerged as a gaming product, but it was bound to succeed and spread into other areas and is now shaRing several industries such as Real estate, Tourism, gambling and other retail.
The secret of such a whopping success lies in 3 main factors that make VR stand out in the crowd of video trends:
1. It fascinates, recent studies show that most smartphone owners would like to use VR while shopping online to evaluate a product before purchasing it
2. It is memorable, VR clips are captivating for two reasons: they immerse us in new environments and evoke strong emotions
3. It is fresh, like everything new and unexplored it raises great interest among both consumers and businesses
Those three factors help it stand out among video marketing trends, says an infographic by global marketing company Take1.
Why Use VR In Marketing?
When it comes to marketing, VR is the format to connect brands with their audiences on a radically new level! The technology directly appeals to the 3 parts of the human brain that are responsible for perception and reaction to surroundings. Furthermore, consumers favor brands that invest in VR: the Neocortex – for higher level thinking, Limbic System – for Emotion, behavior, and motivation, the Reptilian Bran responsible for premitive instincts
- 71% Of consumers assume a brand that implements VR to be modern and forward-thinking.
- 52% Of consumers admit that they would like to be associated with the brand.
- 62% Of consumers would feel strong engagement with the brand.
- 53% Of consumers would more likely purchase from a brand using VR technology.
What to expect from VR in the coming years?
If you are intrigued by the possibilities of VR and its implementation in your marketing strategy, here are just a few more examples of the trend’s constant evolution and growing popularity:
1. Increasingly immersive experience: Tech developers are working on gadgets that affect sensory experiences like touch and smell to further engross the users.
2. Gaming is going to get a huge boost: VR’s in gaming market stake is expected to reach $45 billion by 2025.
3. VR shopping in real-time: IKEA and Alibaba have already adopted VR in their marketing strategies with the goal to get people to shop in virtual stores and purchase a wide range of products.
Are Consumers Ready for VR?
A technology like VR can help brands connect with people on an entirely new level. Meanwhile, AR the ultimate leader in this virtual race since VR technology hasn’t yet met the same level. adoption rate -a fact is that makes marketers think twice when deciding on a new direction.
Now, it is up to the advertisers to find new ways of implementing VR in customer acquisition and integrating it into online commerce in the most convenient form for consumers.
Review the infographic and read all the details. Have you experienced Virtual Reality? Did you have the chance to try it out? Share your experience with your peers and use our commenting section below.