According to a recent AR and VR report, the combined market share of Augmented Reality and Virtual Reality will be skyrocketing – from $18 billion in 2018 to $215 billion in 2021. With immersive technology gaining grounds businesses are wondering how they could integrate these immersive technologies into their business plans.
According to AR and VR experts, the sooner a company becomes fluent in AR/VR, the faster they will be able to make most of it.
Here are the five ways to harness the power of AR and VR to boost your business:
#1. Create Buzz about your Business
If you want to generate more buzz for your products and services, you should start experimenting with AR. Companies can touch base with larger audiences by using this technology during ad campaigns, product launches and during events.
#2. Real life Training Experience
The use of AR and VR enables employees to have hands-on-experience about their training and not just through theoretical learning. The biggest plus is that employees will get a ‘feel’ of the concept before they start implementing them at the workplace.
The immersive technology also helps provide personalized training programs, which in turn ensures learner engagement. Getting the workers trained in a virtual environment will ensure better participation, and chances of employees remembering and implementing things are also more.
Walmart and Verizon are already using STRIVR tech to train employees. Through the use of simulators, the employees are put in realistic environments, where they are tested to see whether they can handle work-related situations.
#3. Product Testing On the Company Website
Presently, businesses send products to a selected number of customers for beta testing. Now, thanks to AR and VR, customers can test products on your website itself and that too at a fraction of cost.
You could set up helps AR and VR system that help customers try your product in a virtual environment. This will save your precious company money. Many brands are leveraging AR and VR to give customers trial runs:
Beauty, Clothing, Furniture, Shoes, realty, tourism, hospitality and more sectors are experimenting with AR and VR for customer trial runs.
In addition to saving time and money for your company, it increases the chance of conversions as well.
#4. Edge Over Your Competitors
Your AR and VR technology doesn’t need to stand out. In other words, you could build your simple AR/VR that separates you from your competitors. Having the edge over your competitors means that you do something that your competitors aren’t doing. AR and VR are still new technologies and chances are high that your competitors are yet to wrap their heads around it.
So, without much ado, adopt AR/VR. If you are running an eCommerce store, then you could use AR and VR to help customers select apparels without making them wear it. For instance, AI IBM Watson helps customers narrow down their clothing choices in the form of High Match and Low Match.
This is a straightforward way to make use of AR and VR to give your company an edge over your competitors.
#5. Build Customer Trust and Confidence in the Product
Premium products are not that easy to sell. So, while selling premium products like furniture or goods, businesses can use immersive technology to showcase the real value of their products to customers. This will help potential customers to see and experience the product before purchasing them.
#6. Bring Employees and Customers Together
Businesses could apply VR to bring teams, placed globally, on one particular platform, and at the same time allow customers to see a live event hosted in a distant land.
Businesses are leveraging AR and VR to offer interactive user experiences, and more importantly helping customers trial-run new products, offering employees real-like training programs, and so forth.
Your business too could profit from using affordable AR and VR technologies, not just to attract more traffic but even conversions for your online store.