When we talk of VR and AR tech, the first thing that might come to your mind is gaming. That’s fine, considering that these two techs came from the curiosities of the gaming industry. However, since its commercial inception about a decade ago, many sectors have started to gamble in such a tech, with global spending reaching upwards of $200 billion. One of these sectors willing to take a gamble in VR and AR tech is marketing.
The marketing industry is constantly finding new ways to refine its existing strategies. Moreover, it’s willing to spend billions of dollars on other technologies in hopes of attracting consumers. Currently, the sector has its eyes on VR and AR tech.
Marketers had a particular problem in decades, and that is how they can connect consumer experience and action in a specific advertisement or campaign? Many traditional strategies, such as TV and radio ads, only give consumer experience but never any interaction. This is the same for modern techniques such as influencer marketing.
It’s safe to assume that many strategies that exist today can deliver consumer experience, but never any action. As a result, no consumer can interact with these strategies, which leaves them wanting more. An interactive ad will be remembered by people for days to come, making it easier for people to purchase products and services in the future.
To solve this problem, marketers looked into various technologies. Finally, they found the right one in VR and AR tech.
VR and AR Tech in Marketing
Virtual and augmented reality connects both consumer experience and interaction in one advertisement. This tech is efficiently doing this because of its inherent trait, which is immersion.
Ads and Immersion
Immersion plays a significant role in video games. Many even claim it as the primary defining factor of a good video game. This is the same for advertisements and marketing campaigns.
A good ad captivates consumers, and it lets consumers forget that there is even a ‘skip ad’ option. Moreover, a good ad lasts for a minute and leaves consumers wanting more. No other tech can do this in marketing aside from VR and AR tech.
If you’ve tried VR or AR before in video games, you’d know how it can let you forget about the world around you for a second. That’s how immersive and captivating it is and how it can direct consumers into an ad they’ve never experienced before.
Success in VR
Many big companies have found success in using VR and AR in their marketing campaigns. One of the best is one that came from a non-profit event, VR For Good.
VR For Good
When Oculus was available to the public, it launched a marketing event known as VR For Good. It’s where people can exhibit non-profit experiences to let others know about the current problems the world is experiencing. Some of the problems it exhibited were homelessness, racism, and inmate abuse.
People were allowed to view short videos using VR tech, and well, the consumer experience was captivating. Right after they viewed a video or two, people were left with new perceptions towards society’s problems because they were able to experience them themselves. This is just one of the many capabilities of VR and AR tech in marketing, and it’s interesting where this would lead soon.
Will it Make Other Marketing Strategies Obsolete?
Now for the question you came here for, will it make other marketing strategies obsolete? The answer to that is no. There are still many marketing campaigns that are far more effective and cheaper than VR and AR marketing.
The main problem with this form of marketing is the cost. For example, an advertising agency that specializes in search engine optimization knows that they won’t be rendered obsolete by this tech because they are far cheaper. In comparison, you need to spend $20,000 on average to run a VR marketing campaign. You only need to pay about $1,000 for an SEO-based campaign.
Another good comparison is influencer marketing. Both VR and influencer marketing came around the same time, but influencer marketing is the desired choice by many marketers up to this day. It’s now dominating the industry, and technically, one of the main ads you’ll see on the internet.
The difference is night and day. VR and AR campaigns are still far too expensive to be a viable option for many companies. Moreover, despite its amazing capabilities, other campaigns can generate leads much faster. So it still has some ways to go, but we’re certainly excited for its future.