Given that VR only truly entered the consumer mainstream towards the end of 2015, it has achieved considerable growth during this time. This is particularly true in the field of gaming, where VR has found a natural application that enables it to achieve its full potential.
Incredibly, virtual video game sales totalled $1.5 billion in the U.S. market alone last year, with the global industry recording a yield in excess of $5 billion.
Will Advertising Emerge as a Viable Application for VR?
Of course, gaming will not be the only application that truly optimises the potential of VR technology over time. In fact, we have already seen virtual reality impact on a host of additional markets, from the entertainment sector to travel and the world of marketing.
In many ways, the nature of VR offers a wide range of natural advantages to marketers. This is especially true for product-orientated brands, who have a physical entity that they can use as a focal point for their advertising campaigns. The application of VR will elevate these by enabling consumers to interact with a specific product in real-time, helping to reinforce its appeal and forge an emotional connection with individual customers in the process.
This represents just the tip of the iceberg when it comes to the relationship between VR and advertising, however, as there is the potential for boundaries to be pushed even further in the future. After all, VR is capable of replicating and capturing genuinely unique experiences, which can be shared and relived as often as desired.
Advertisers can successfully leverage this to create incredibly emotive customer propositions, which tend to be far more effective than those focused on basic utility and need.
Emotion is Key, and VR Can Help Advertisers to Create New Product Propositions
While it is hard to quantify the precise impact that VR will have on advertising, there is no doubt that this technology can change the way in which marketers place, present and sell their products. It will also breathe new life into concepts such as event marketing, creating real-time and emotive campaigns that engage customers like never before.
Make no mistake; however, it is the emotional capacity of VR that will be of most interest to advertisers. For years, brands have been forced to market products based on value or quality propositions, while utilising imagery and music to form emotional connection with a targeted audience. VR can elevate this emotional experience onto an entirely new level, however, as it allows customers to interact with products and experience physical feelings and sensations as part of this process.
Does This Make VR a Game-changer for Advertising?
In short, yes. VR will most likely have a gradual, but seminal, influence in the field of marketing and advertising, by establishing a new communication channel that creates experiences and emotional connections.
Over time, it will also challenge the way in which customers interact with products and appraise their value, as VR advertising campaigns create a simulate shopping experience where goods can be trialled in real-time.
Given the scope of VR and its potential, you may well be struggling to understand how it can drive your business forward in 2017.
We are here to help, however, so why not contact our team at 3drenderingservices.co.uk and unlock the potential of VR for your venture?