How Do Brands Leverage VR & AR?
Virtual reality (VR) and augmented reality (AR) are two technologies rapidly changing how we interact with the world around us. From gaming and entertainment to e-commerce and education, VR and AR are transforming various industries and creating new opportunities for brands to connect with customers. How can brands leverage this technology to create unique and engaging customer experiences?
The Rise of VR and AR
VR and AR have become increasingly popular, with more and more companies investing in these technologies. While many reports differ on the growth of AR and VR, Acumen Research and Consulting has published “Augmented Reality and Virtual Reality Market Report and Region Forecast,” which offers an analysis of the industry from 2022 to 2030. The VR and AR market’s size reached $22.6 billion in 2021 and is predicted to grow to $451.5 billion by 2030, with a CAGR of 38.5%. This growth will primarily result from the continued use of smart devices, increased Internet connectivity, and development in mobile gaming. Various factors, including technological advancements, consumer adoption, and the rise of 5G networks, impact this area. As additional players enter the market and the technology develops, we will spend more time in partial or fully immersive environments.
The Potential for Brand Engagement
One of the more exciting aspects of VR and AR is the potential for brands to engage with their customers in new and innovative ways. For example, VR can create immersive brand experiences like virtual storefronts or product demonstrations. AR technology, however, can provide customers with real-time information and personalised recommendations while they shop. By leveraging these technologies, brands can create unique and memorable experiences that help them stand out in a crowded market.
The Power of Storytelling
Another way that brands can leverage VR and AR is through storytelling. Immersive narratives transport customers to different worlds and environments, and brands can create a deeper emotional connection with their audience. For example, a travel company could use VR technology to give customers a virtual tour of a destination, allowing them to experience the sights and sounds of a new place before booking a trip. Similarly, a fashion brand could use AR technology to create a virtual runway show, allowing customers to see how clothes look on models in real time.
The Immersive Customer Experience
VR and AR can uniquely immerse customers in a completely different world, whether a virtual storefront or an augmented reality product demonstration. This immersive experience allows customers to interact with products in a way impossible with traditional e-commerce. Brands that successfully leverage this technology can create a deeper connection with customers by allowing them to experience effects in a personal and memorable way.
Personalisation and Customisation
Another way that VR and AR are transforming the customer experience is through personalisation and customisation. With this technology, brands can create personalised shopping experiences catering to each customer’s unique preferences and needs. For example, a VR shopping experience could allow customers to try clothing virtually and see how it fits their body type. Similarly, AR technology could allow customers to visualise furniture in their homes before purchasing. By providing these personalised experiences, brands can create a stronger sense of loyalty and connection with their customers.
Enhanced Customer Support
VR and AR can also improve customer support by providing a more interactive and engaging experience. For example, virtual support assistants can provide customers step-by-step guidance on assembling a product or troubleshooting an issue. Similarly, AR technology can allow support staff to see what the customer sees in real-time, making diagnosing and solving problems easier. By providing these enhanced support experiences, brands can improve customer satisfaction and reduce the likelihood of returns or negative reviews.
Virtual Learning and Training
In addition to improving the customer experience, VR and AR have significant potential in employee training and development. With this technology, companies can create immersive training experiences that allow employees to practice skills. As more brands adopt VR and AR, it’s important to note that the technology is still in its early stages. However, it has already shown great potential for revolutionising how brands interact with customers and creating truly immersive experiences.
Future AR and VR Development
We can expect to see even more advanced VR and AR technology applications in the future. For example, we may see the development of full-body haptic suits allowing users to feel like they are indeed inside a virtual environment, taking the experience to the next level and making it more engaging and interactive.
VR and AR will continue to play a significant role in the future of branding. Brands leveraging this technology can create experiences that truly engage customers and differentiate themselves from competitors. It’s essential to begin experimenting with these technologies to stay ahead of the curve and remain relevant in the ever-evolving AR and VR technology landscape.
