Let’s talk numbers. From $6.1 billion in 2016, the virtual reality market is going to blow up to $192.7 billion by 2022. If this expert projection is right, this revolutionary tech will be a bigger phenomenon than the smartphone. The reason behind VR’s exponential growth? Its ability to attract attention and engage the viewer. It’s like a magnet, but for our eyes. It is super effective in winning people’s attention and it affects their purchasing decisions. That is how VR will change the world — completely. That is why VR is the best and safest business upgrade that you can make today.
If you’re an innovative business person who wants to go past the current two-dimensional world of selling, it’s time to embrace virtual reality.
VR provides a spectacular experience
Today’s consumers expect businesses to meet their needs and wants. They demand better ways to shop, faster ways to browse products, and finer ways to take in information.
That’s a lot, but virtual reality can do those things.
Think of the real estate industry. Before, a buyer needs to go through a tedious property hunting. Now, several real estate agents and brokers give their online prospects a virtual tour of their properties for sale. Interested buyers proceed to an expedited purchasing process. Some people become homeowners in a day. Isn’t that nice?
Home builders benefit from VR too. Instead of going to physical demo and looking at 2D photos of home designs, they can inspect the property as a whole in a virtual tour. They can inspect the exterior design, interior design, and every room or corner of the house. The builders make a sale, without sending the client to one of their demo homes.
Lastly, regular online shoppers. When you integrate the 3D VR features on your eCommerce website, you will speed up the buying process. All you need to do is come up with ways to give them more information about their purchases and let them interact with the product before buying it.
VR gives them the freedom to personalise their purchases
Today and the next generation of consumers possess the ‘ME’ culture. They like it when they’re offered something that’s tailored to their needs, wants, and lifestyle.
It’s a crucial fact. According to Salesforce, a majority of today’s consumers expect businesses to offer them personalised offers. And, they can and will switch brands if a certain company doesn’t make an effort.
That’s sad and painful, especially when your customers went to your competition.
No one can tell when personalisation started as a marketing trend, but it went big in 2018, thanks to modern technologies that enable it. VR is one of them.
VR has a promising potential in improving customer experience. Right now, we have retail stores enabling their clients to customise their purchases. There are designers who use VR to help their clients individualize their designs. In general, VR is a tool that helps anyone add a personal touch on something. That naturally leads to a point of sale.
All of the top companies worldwide are in
It’s true. All major companies around the world have embraced VR. Some have established their own, others are continuing to develop theirs. Facebook bought Oculus and is now starting a VR social community. Samsung is putting a lot of effort to improve their own VR, Google invested 500M on Magic Leap, and Microsoft is ready to introduce Hololens 2 this 2019.
With every trillion and billion dollar company investing in virtual reality, it’s a sign that it is, indeed the best and safest business upgrade that you can make today. The technology is here for good and it’s going to increase the efficiency of your business. You will invest in it, but it will bring down other future costs. It will boost profit when done right. It’s a win-win for everybody.
Looking at the future ahead of us
Technology changes. A lot have transformed our lives before. But one thing will never change. In 5, 10, 15 years, your consumers will still expect a lot from you. Feel free to use technology to fill that need. Harness its power and grow your business.