With virtual reality solutions at an affordable price, including VR cardboard glasses from Google, we can say that VR is becoming a daily technology not only for the entertainment sector but also for the world of business.
Brands have noticed its huge potential for ease of emulating any real-life scenario. According to forecasts from Grand View Research, the virtual reality market is expected to reach 48.5 billion dollars by 2025.
On the same token, VR has proven to be a useful tool inside companies due to its high level of immersion, proving its efficiency in the areas of HR and training processes, to name a few.
VR in Marketing and PR
In the last few years there have been some successful and innovative marketing campaigns that put to use virtual reality technology in order to create unique experiences for consumers. For example, the Happy Goggles from McDonald’s that enabled kids to turn their happy meal box into VR glasses that could be used to play virtual reality games through a phone app. Also, Volvo found a way for anyone to be able to live an experience of driving their cars with a virtual reality test drive that only required goggles.
The widely known New York Times paper created a novel app for their readers to choose between diverse immersive experiences within their library of content. These would allow the readers to feel like they were in the middle of the action next to the journalists who wrote them, and one story even took readers far, far away, allowing them to walk on the surface of another planet.
VR in the Enterprise
It’s expected that in the next few years, the use of virtual reality for business could surpass the use of the technology for entertainment purposes, calculating an investment of 9.2 billion dollars by 2021.
According to Tech Research Pro, 48% of companies are including implementation of virtual reality actions within their strategic plans for the “immediate future.”
VR in HR
As aforementioned, within the human resources spectrum, VR is being scoped out to be a necessary tool in enablement processes, for example: an instruction course on how to operate machinery without running a risk of getting hurt due to inexperience. Likewise, it can emulate real situations within the work setting, like a scenario where emergency protocol needs to be put into effect.
Another useful practice with virtual reality solutions are simulations where workers have to showcase a theme, after which they need to go through a question and answer stage. This would help collaborators to improve their abilities during business presentations.
One of the more promising areas when it comes to the use of VR is product development. With this technology it’s possible to create and test prototypes in a 100% virtual setting, observe the functionality and capabilities, and make the needed adaptations easily, considerably decreasing time and cost investments.
Virtual prototype software includes complete data of materials so that the equipment design can not only prove the look and resistance of the product with each change, but also forecast the cost of production. It will no longer be necessary to make physical prototypes until you’ve arrived at the final design, because the results and functionalities are very close to reality.
A videoconference will never truly be the same as showing up to a meeting in person. In spite of this, the first conferences where it is possible for participants to “come together” in a virtual setting in order to communicate efficiently are already happening. This has allowed companies to save a significant amount of money in business travel budgets for their employees.
Enrich Customer Experiences
With the help of virtual reality, the customer can have a complete and fulfilling experience with a brand. In the Volvo experience, for example, you don’t just run through a simple routine city test drive; it actually allows you to live through different driving conditions (like weather and specific driving times) and takes you to some stunning landscapes while playing relaxing background music.
Another example of a customer experience comes from Ikea and their augmented reality app, which means it combines real settings with virtual elements. If the consumer is interested in a couch, thanks to the application they can actually visualize from their phone how this would look inside their home or office.
It’s inevitable that the combination of virtual and augmented realities will reach application developments that today we can’t even imagine, especially within the organizations where the tasks of the employees are already starting to be optimized, as well as delivering unique experiences to customers. If you’re thinking about how virtual reality could be implemented in your company, contact us for an assessment!