The advertising industry is known for its early adoption of new technology and leveraging it to engage with people in better and more creative ways. Virtual Reality is no different. Creative and advertising agencies have started creating unique, engaging, and immersive advertising campaigns to interact with customers. Let’s find out How Virtual Reality Will Change Advertising.
VR is not a new technology and recently its application in different industries and fields have started to surface. The emergence of VR as an effective advertising tool is being eyed as the next big leap to connect with users at a deeper level. The VR market is projected to grow exponentially by 2024 and will not be restricted to gaming and fun. The early users of this technology have realized VR’s true potential and how they can use it to shift from a conservative way of advertising.
Compared to traditional ways of display advertising, VR advertising and marketing will add layers of engagement and personalized experience for the consumers. The matrix to track a user’s level of engagement will change and so will KPIs. Moreover, VR will not be limited to just displaying ads but it will go beyond to the extent of creating customized experiences for users to interact with products and services.
Let’s find out How Virtual Reality Will Change Advertising
Experiencing products in VR
With VR advertising brands will now be able to enhance interaction in advertisements. Unlike the way the internet allows its users to interact with products through social media and applications, VR headsets and controllers will allow consumers by simulating interactions like grabbing objects, walking through an art gallery, or simply experiencing a hotel room. This virtual experience will be immersive and 3D.
Higher conversions with interactive VR ads
Advertising is all about attracting, engaging, and finally converting the interested person into a consumer. More the level of engagement and interaction, the higher the chances of conversions. Interactive VR advertisements will allow consumers to engage at a deeper level with products and destinations, thereby leading to higher conversion rates as compared to traditional advertising outcomes.
Enhanced customer service and experience
Virtual reality marketing and advertising provide opportunities for enhanced experiences and are capable of reducing the barriers brands face in convincing users to use their products or services. VR is very well suited for retail brands, a recent example is Samsung launching its NYC flagship store virtually in the metaverse. It allows consumers to experience products at their original size and scale.
VR in Mobile marketing applications
As brands are reaching out to the younger audience the concept of VR advertising using mobile marketing applications will become more prevalent. Virtual reality advertising will allow brands to drive more engagement and impressions across all social media platforms that support augmented reality. This marketing and advertising technology will stay longer due to its disruptive nature.
Option to in-person interactions
Events are a major part of advertising and marketing strategies, travel restrictions post-Covid affected the events industry. Trade fairs, expos, and launch events saw a huge downfall in attendees. These are the places where brands attract the maximum eyeballs and engagements. Thanks to VR technology that emerged as an option for in-person interactions. Brands can now reach out to their customers virtually at just half the cost. It also gives a perception of the brand as a futuristic, environment-conscious, and tech-savvy business.
In-app or in-game advertising
Though there are no restrictions to VR, in-app or in-game advertising will be the major focus area for brands to display their offerings. However, AR will undoubtedly expand the area of advertising, people will wear glasses to experience a virtual overlay of the real world, and this experience will be immersive and no doubt more engaging for consumers.
Product training for users
Using VR, consumers can not only try products and services but also get training on them. Brands can now simulate real-life applications, including real-time feedback. This will let buyers visualize the products in action and get hands-on training to use the products. Also, it reduces the heavy costs companies incur on demo and shipping.
Capturing engagement and immersion matrix
VR advertising and marketing will be completely different from contemporary advertising. It will have a wider impact as developers and designers have to work with new tools to design creative strategies around advertisements. New KPIs will be established as more focus will be on engagement and in-experience immersion. Today what heat maps capture about a user’s journey on a website, VR advertising will capture the most engaged pinpoints by a user. It could be as simple as tracking head movements and analyzing which part of ad experience users like the most.
Interactive video ads opportunity
Industries such as pharma, medical, and health will benefit a lot from VR advertising. It will allow these industries to create interactive video ads to reach consumers and industry stakeholders uniquely. It will give an advantage of showcasing their technological advancement more engagingly without incurring too much cost on demo and in-person reach out.
To Conclude
Brands are enthusiastic about this new format of advertising and marketing but the key is to use it in such a way that it is unique, engaging, creative, and innovative. Creators, advertisers, and marketers are consistently finding out ways to engage and interact with audiences through VR advertising.
The unique applications of VR technology and its ability to engage with audiences at deeper levels than traditional advertising will give advertisers a fair idea of the future. Few brands have already started using it to great effect, making advertising and branding seem realistic and interactive.
What advertisers should focus on is making them potentially more interesting and blend in well with the real world, which will allow people to manipulate and interact with the 3D space around them.
