Marketing and sales are the two core pillars of every
business. They are intrinsically connected and interdependent. There is more
that goes into marketing than billboards, cold calling, cold emailing, or
interruptive advertising. Customers are bombarded with numerous marketing
messages every day. They are spoilt for choice and loyalty levels are
dwindling. Moreover, cutthroat competition is rampant in every marketplace. The challenge is to find unique marketing
methods to engage with customers and generate sales. In the always-connected
and information-rich world that we live in, digital is the new 'normal' in
marketing, and the digital marketing landscape is witnessing disruptive changes
that businesses can no longer ignore.
Digital is permeating every aspect of life, changing the way
in which we think, act, and live. Digital business models, markets,
customer-bases, and competitors originate and thrive in the blink of an eye. In
short, digital is the future and the future is digital. When it comes to
marketing, digital is the king and customer experience is the crown. Digital
marketing helps create innovative content and incredible customer
experience. The influx of virtual
reality has ushered in a new era in digital marketing. From McDonald’s ‘Happy
Meals’ box to Oreo's 'Wonder Vault, Jaguar's ‘Feel Wimbledon’, and Alibaba's
Buy+, virtual reality has helped digital marketers take a flying leap forward.
Thanks to its captivating power to create an immersive and compelling
experience, or a feeling of being physically present in a virtual world.
VR can make a major difference in customer experience and
decision-making journey. Need a sneak peek into the apartment you plan to buy?
Wondering how to try the latest signature collection from your favourite
designer without visiting the store?
Can't decide what to order from the list of dishes you have never tried
before? The infinite possibilities of virtual reality can help answer these
questions in no time. With virtual
reality, customers can see products up close and personal, and analyse why they
are unique and relevant. You can do anything from playing games to visiting new
destinations from the comfort of your home.
Did you know that the global VR revenues touched a whopping $7-billion
mark in 2017?
No matter how effective a product or a solution is, it is
not easy to demonstrate how it could work in reality. But virtual reality enables a near-to-real
experience when compared to video, social media, and print promotion methods.
Immersive telepresence in VR helps creates engaging experiences at every touch
point in a customer's purchase cycle. Imagine test driving a car from your
desk! Given the experience of a vehicle is of highest relevance, the automotive
industry can immensely benefit from VR-based marketing methods. It delivers
“virtual showroom” experiences and enhances sales along with strengthening
brand identity and reach.
The boundless potentials of virtual reality can now be
cost-effectively leveraged to deepen customer engagement and improve sales.
Virtual reality can be adapted to any business where user experience is of
immense significance. It creates emotional resonance and shares surprising and
delighting positive experience. Through VR, prospective customers can
experience how products or services work in a contextually relevant
environment.
Emotion is the heart and soul of every marketing initiative.
The findings of a Nielsen and YuMe’s 2016 study indicates that virtual reality
drove higher engagement and emotional response when compared to all other
platforms it was tested against. VR helps put customers in the driving seat and
give them a near to a near-to-real experience of a product or service. In
short, it is try-before-you-buy-it or a high-touch customer interaction in a
whole new and futuristic manner. It
bridges the gap between scepticism and conversion and helps close deals in no
time with a virtual handshake. In a world that’s replete with distractions,
virtual reality is essential to reclaiming the captive audience and strengthen
the bottom line.
With the advent of Oculus Rift, Vive, and Cardboard, virtual
reality has become a part of the mainstream marketing repertoire. Virtual
reality is here to stay, and it will be a major player in the digital marketing
world for years to come. The economic impact of virtual reality is predicted to
reach $29.5 billion by 2020.