Why Virtual Reality is so important in Marketing

What is virtual reality marketing?

Before enhancing the topic further, we will first understand what the term virtual reality marketing means- it can be defined by understanding both the term 'virtual' and the term 'reality'. Virtual can be described as “near”, while Reality indicates to what we experience as living beings. Collectively, virtual reality is primarily a 'near reality'. Moreover, in technical terms, VR can be understood as a computer-generated simulation of a three-dimensional image. Virtual reality, or VR, began as a way to play video games in the 1980s, but it has emerged into a complicated mechanism, particularly for marketers.
The infographic starts by investigating some common VR marketing terms, and also popular VR brands, like Oculus Rift, Google Cardboard, Samsung Gear, Sony PlayStation VR, and HTC Vive.

Importance of Virtual Marketing

In today's time, there are around 45 million VR users globally, and it remains to grow in demand. Also, Augmented Reality Android Development is growing at a high rate In fact, VR usage is expected to expand almost four times over a couple of years with a worldwide audience of 170 million by the year 2021. And 35 to 40% of people are already aware of Oculus
VR carries a lot of potential for mobile devices, and 90% of VR headsets are sold on mobile devices. Also, Google Cardboard crossed 10 million downloads on the Play Store. The Play Store already includes more than 200 VR-compatible apps.
When we talk about marketing, VR has an important potential, and it’s more efficient than a mobile phone and computer advertising. For instance, VR earned a 30% ad success rate compared to just 1% for mobile and 0.4% for computer ads.
Users too are enthusiastic about VR, and 80% of people who use VR would tell others about it too.
By 2021, VR is assumed to reach 170 million people, making it a market of everyone from gamers to YouTube video fans.

Benefits of VR marketing

VR marketing has numerous advantages. Three main ones are-
1. Storytelling: Enables people to be a part of the story.
2. Product presentations: Allows people to see your products before purchase and 'try before they buy'
3. Content marketing: Helps you reach the target audience with innovative and interactive material.

Future of VR

Sadly, like any other new and shiny technology, a decent VR set has a price and doesn’t include most advanced features or has the high following right now. And just because the idea of full immersion in a virtual reality is great, it doesn’t mean it’ll be successful, or that its following and demand will last.
However, According to Goldman Sachs, VR carries the potential to grow in a multi-billion dollar industry.
Due to constant VR adoption rates and VR ad success, it is expected to reach great heights in no time. And talking about economic trends and the diversity of VR brands, we expect prices to ultimately fall, allowing the users to purchase cheaper VR hardware and software.
VR brands are also expected to combine after prices fall, with the top VR companies attempting to acquire others, exclude competition, and draw new talent.

Benefits of using VR in marketing strategy

When talking about putting together the social marketing strategy, VR offers a few unique benefits:
Unusual experiences: Using VR as a medium to reach your customers, you’re giving them a totally unique experience from your brand, creating a close relationship between you both. It is new and exciting for viewers, and experience entirely of your brand’s creation. You can choose what they understand and do, without any interruption from anyone or anything else.
Ignoring ad blockers: the use of ad blockers increased by 25% between 2015 and 2016 individually—more people are using blockers when they are browsing the internet. There are also quick symbols that ads within a VR experience (for example promotion of product such as a bottle of soft drink) produce better ad recall. 75% of users also found this type of ads less interfering.
Social policies are on board: as part of their official announcement, Facebook disclosed the Oculus Go. This is a proof that Facebook is investing in the VR marketing. There are also Oculus Rooms where one can hang out with closed ones in virtual reality. With this kind of technology, people are more likely to adapt it into their daily lives. Also, it provides a platform where brands can reveal their VR experiences.