Isn't everyone filled with excitement at the thought of all the opportunities that this technology will bring?
Virtual Reality has gained a lot of attention and popularity in recent years with support from influential figures such as Mark Zuckerberg, Nicole Kidman, and Susan Wojcicki.
Statistics also support the growth of VR. Market research firm Digi-Capital predicts that VR and AR could have a value of $120 billion by 2020, transforming how we engage with content.
This growth is driven by successful marketing campaigns and popular VR/AR gaming experiences, as well as numerous endorsements and online reviews from YouTubers. Additionally, pre-orders for VR devices such as the Oculus Rift and HTC Vive have been sold out.
The use of VR is diverse and extensive, ranging from 360-degree immersive performances by Paul McCartney and virtual photoshoots with Jacquie Lee, to virtual adventures in British Columbia or experiencing the Apollo 11 mission. The possibilities with VR are virtually endless.
Of great significance is the potential for VR to be used by brands. Many companies have already embraced VR and are realizing its vast marketing potential. One example is the video showcasing the "10 best uses of Virtual Reality in Marketing", which demonstrates the impressive possibilities of VR. This is just the start of what VR can offer in terms of marketing.
What’s Stopping Virtual Reality?
While some people are not fully convinced about VR, others, such as Kelli Richards, CEO of The All Access Group, have expressed both excitement and concern about VR's future.
In her article "The 4 Tech Trends that will Explode in 2016", Richards predicts that VR will become widely adopted, but acknowledges that it still needs improvement before it can be widely used.
The question remains, what is hindering the widespread adoption of VR?
Only a small fraction of PCs, less than 1%, are capable of supporting immersive VR technology, and those that do are often expensive.
Chicken or Egg Issue
The lack of VR content has resulted in limited consumer interest, which in turn has caused few people to invest in VR technology, perpetuating the cycle of limited VR content.
Motion sickness is a significant challenge for those creating virtual reality experiences.
The potential impact of prolonged use of VR on mental health and well-being must be thoroughly evaluated.
How Virtually Reality Affect Brands
While there are still aspects of VR that require attention, according to Senior Technical Designer at Radial Games, Kimberly Voll, the technology is capable of being improved and made more advanced, with solutions available for making it higher resolution, lighter and more comfortable.
Getting started with Virtual Reality is relatively straightforward once you have the necessary technology, but it's important to consider the marketing potential it holds and make sure all fundamental parameters are in place before diving in.
Before creating VR content, it is important to approach it like an advertisement and have a well-thought-out storyboard in place, after researching and considering various ideas.
Be the first
Take advantage of VR being in its early stages by being proactive and creating a unique experience for your audience, before your competitors do.
Worry not about the technology
The VR industry is rapidly evolving, so it's important to stay ahead of the curve. While the Oculus Rift and similar devices are primarily used for gaming, brands can also utilize Google Cardboard, which only requires a smartphone and cardboard box.
By using this platform, brands can quickly deliver their message to consumers and increase engagement through a more accessible VR experience. Consider incorporating animated video production services into your VR strategy for a more impactful and memorable experience.
Engage your audience
To ensure an engaging VR experience for your audience, don't just plop them into a virtual world and hope they will be impressed. Instead, let your audience have control over the story and make sure they are in the driver's seat.
To effectively communicate your message in VR, consider incorporating explainer video production services to guide your audience through the experience.
Virtual reality is quickly becoming a reality for consumers. Don't be left behind and be prepared to embrace the trend. By incorporating VR into your marketing strategy through commercial video production services, you can stand out from the competition and get ahead of the game.
It's not too late to start telling your story and learning about VR. While you may make some mistakes along the way, the potential benefits are too great to ignore.