Virtual Reality and its Place in the Marketing World

Hello again, fellow bloggers and readers! Today’s discussion revolves around virtual reality and how companies are taking advantage of this tool to market their products and services.

It was interesting to see in this week’s digital marketing lesson, how Hardhat Digital created an augmented virtual reality experience for people to view at the Deakin Open Day 2015. This created a new and unique experience for viewers to see their ‘potential’ university from another perspective. This futuristic idea resulted in Hardhat Digital to win Mashies award for Best Use of Virtual Reality/Augmented Reality.

There have been other many interesting VR strategies that marketers have implemented to promote their brand to consumers. Most recently, before the new Alien movie came out, the people at 20th Century Fox, gave viewers a glimpse and experience of what they should be expecting in the new Alien Covenant movie was released. In this video, viewers were able to immerse themselves in the video with or without using a VR Headset. During the video, viewers can freely move in a 360 degree viewing. This generated a lot of discussion on the internet, as it was taking a unique approach to advertising a film. Screen Shot 2017-05-21 at 1.12.07 am.png

Another example of companies taking part in the emergence of virtual reality tech is BT Sport. On the 4th of June, BT Sport will livestream the Champions League Final (soccer) on YouTube and their new VR Sport app in 360 degree virtual reality. For those that don’t have a VR headset, BT Sport are offering to give customers a free (cardboard) headset if they register on their website. BT’s chief executive said ‘we believe that VR can offer our viewers an immersive second screen view which will enhance our coverage.’ This just demonstrates how virtual reality can create more brand awareness through the internet.

 

At the moment, according to Lifecycle marketing only 8% of marketers currently use VR in their advertising. An analyst at Forrester Research, said that ‘there is much more hype than substance when it comes to using VR specifically for marketing.’

So the question is whether advertising in VR is worth doing? Or should companies invest their money on the more traditional ways of advertising?

 

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6 thoughts on “Virtual Reality and its Place in the Marketing World

  1. So keen to get my hands on one of those head sets to watch the game! I wonder if it is indeed successful, maybe they should get some out here for the AFL Grand Final? That’d be amazing. I think there enough evidence to suggest that VR is the advertising of the future. Its ability to get you physically engaged is too obvious to deny. Lets just hope it stays Virtual Reality and not Virtual Ridiculous. Well written!

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  2. VR is definitely something worth exploring for companies as it offers lots of new opportunities for them. It can provide different ways of viewing products, but also ways of experiencing and trialling products. In terms of traditional media, it is still important and still has a large role in marketing, and can even be used in conjunction with AR – check out this article: http://adage.com/article/digitalnext/ar-savior-print/308923/ AR could help augment people’s experience of reading print, so they could work together well.

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  3. Since VR and AR are developed mostly in the first world country, i think each company should invest their money depends on their market in which they play. if they play in the first world country with the rising of technology, eventually people will left traditional marketing behind. But, how about the third world country? will there be any differences in VR marketing between the first world and third world country?

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    1. Fair point, advertising companies will have to do some in-depth research into who their target customers are.However I believe that traditional media still has a place in marketing as well. Obviously money plays a big part in how the first and third world country run.However, focusing on Virtual Reality marketing, there are VR headsets that are affordable on the market (google cardboard). The main problem with VR marketing, is the fact that customers have to wear a VR headset to view the content. Hence advertising companies must create a way to make more consumers ‘familiar’ with VR and how it works. This will result in a rise in VR advertising.

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