One of the questions marketers often ask when embarking on their first VR project is ‘what return on investment (ROI) should I expect?’. It’s a valid concern because you’re about to spend your budget on a new marketing activity. Luckily, there have been studies about the effectiveness of these new marketing vehicles. In this blog, we’re going to focus on the value of 360-degree photos and virtual tours.
Here’s what we found:
Google: Virtual tours double the interest of people
In 2015, the tech giant Google commissioned an independent firm to conduct a quantitative market research about the impact of virtual tours on a consumer’s interest in local businesses.
They found out that a business listing with a virtual tour is twice as likely to generate interest online.
Those who view a listing with a virtual tour check the media 44% of the time. On average, 41% of these place searches lead to an on-site visit because they booked a reservation there.
The same study suggests that people appreciate virtual tours and 360-degree photography provided by businesses. More than half of the respondents (67%) want more businesses to use this modern-day marketing material.
Home buyers find virtual tours of a property useful
A typical home buyer uses a mobile device to look up properties online. A 2017 research from the National Association of Realtors (NAR) found out that virtual tours are very useful to buyers. More than half of their respondents have taken a virtual tour of the property they liked. They like the technology so much that 54% of them won’t check out a property without these virtual images.
“Online listings have virtual tours so viewers can look at a bunch of potential homes while narrowing down their search to a select few in the effort to save time,” they stated in their report.
The NAR wasn’t the only organisation and institution that looked into the effects of virtual tours on the home buyers interest. Here are other studies that back the idea:
- Realtor.com® – Listings with a virtual tour receive 87% more views than those without or with still photos alone.
- Propertyweek.com – Virtual tours engage 40% more online viewers, making the property more saleable.
These data mean virtual tours are vital to the decision-making process of a home buyer before he/she proceeds to a purchase. Soon, virtual tours will be the standard way to market residential and commercial properties.
360-degree photos and videos of products boost sales
Businesses usually use 360-degree content to promote themselves on social media like Facebook and Youtube — and it is thriving. This trend started in 2016 and has given marketers a new way to showcase their products ever since.
In a study conducted by Social Bakers, they found out that 360-degree photos make companies more engaging. Business who provide virtual tours to gain more fans and sales succeed by as much as 16-67%. That being said, brands from all industries must thrive to produce and share 360-degree content for their fans online.
Harness the power of Virtual tours and 360-degree Photos
Modern-day content like virtual tours and 360-degree photos are highly-engaging especially when paired with a meaningful copy. It hooks your online fans for up to five to ten times longer, keeping them away from your competitors.
VIZ360 can provide your business with virtual tours and 360-degree content. We hope these statistics and studies convinced you to try this new marketing vehicle.
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