Virtual Reality is a Real Marketing Opportunity

FacebookLinkedInTwitter

The marketing focus du jour may be on all things mobile, but the future may well be virtual. While once consigned to hardcore geeks and cheesy films like The Lawnmower Man, virtual reality has now become a legitimate hot topic. In addition to giant leaps of technological power, major companies are making significant investments in the platform. Facebook spent two-billion on the pioneering VR maker Oculus Rift. Samsung is devoting a major portion of their technology might to advancing their own VR platform for smartphones.

rift_1_678x452

While these hardware developments lay the groundwork for VR, content will ultimately propel VR to the mainstream. 3D failed to take off for this very reason—the hardware worked just fine, but the dearth of content meant no one actually wanted to watch, causing the platform to flounder. With Oculus Rift now planning to bundle with Xbox games and accessories, sports leagues creating virtual experiences, and myriad other enthusiast communities creating virtual content, lack of content will not be an issue.

Assuming VR does become the next major entertainment and communication frontier that Facebook and Samsung assume it will be, how should marketers leverage virtual reality to sell more stuff? Here at BrandCulture, we’ve been thinking about the best ways companies can monetize virtual reality, extend their brands, and reach existing and new customers. Within the next two years, the most successful forays into the world of virtual will take increasingly take advantage of these three opportunities:

  • Virtual brand experiences. Immersion in brand experiences in physical spaces has been a mainstay of branding for many years. By creating virtual brand experiences, companies exponentially expand their reach.
  • Sneak peeks and virtual visits. Companies will begin producing previews of their products or services. What traveler needs Yelp when a virtual visit provides a more visceral experience of what a destination is actually like?
  • Virtual community engagement. Companies have invested in scaling online platforms to keep customers interested and engaged. Virtual platforms will heighten and advance these tools for even more effective engagement. We look forward to the day where a customer rep will be able to demonstrate fixing an issue in virtual 3D space.

As virtual technology acquires greater verisimilitude, the question of what’s real and what’s virtual will start to converge. Smart brands will find that investing real dollars in virtual reality will leave competitors scrambling to catch up.

Now It’s Your Turn
FacebookLinkedInTwitter
Brand Strategy
Hannover Messe – Branding at the World’s Largest Industrial Conference

The  Hannover Messe conference in Germany is the world’s premier event dedicated to industrial products and services. Think Siemens and its transportation systems, larger-than-life robots, machines that make machines and industrial internet platforms. Some quick facts: the annual 5-day event is held in Hannover, Germany, with over 215,000 visitors and 6,000 exhibitors. Filling nearly 30 […]

Learn More
Corporate Culture
Building and Sustaining A Culture of Innovation

Success Requires Innovation Success in business requires finding ways to do something new, better, faster or more efficiently than others. Success requires innovation. But it’s a catch-22: as success drives growth, the startup culture that provides such fertile ground for new ideas begins to adopt the rigid structures and processes that help larger organizations manage […]

Learn More
Brand Strategy, Culture
Why Your Brand Must Drive Innovation

Branding is of course far more than applying a badge or emblem on an organization. As we assert in our Shared Purpose perspective, the overall goal is at once simple and ambitious: to “engage employees and drive customer preference.” Your brand ultimately represents both the vision and the strategic position that you seek to convey […]

Learn More
Corporate Culture, Trends
BrandCulture’s Key Takeaways From Mobile World Congress 2019

As we wrote at the end of February, each year we ensure to attend certain international conferences and events with the intention of staying on top of changes in the market, seeing what organizations are doing with their branding and meeting up with current and potential clients and partners. Among our most important trend-watching events […]

Learn More

Ready to talk about how your brand and culture can do more for your business?

Let's talk
Let's talk