Sunday, May 26, 2019

The Future of Digital Marketing: An Immersive Virtual Reality Experience


It can be said with a degree of certainty that in the future of advertising and digital marketing, there will no longer be a divide that separates consumer from product. Rather, advances in technology have already spawned the virtual reality movement that completely immerses the consumer in the advertisement itself. Contrary to the traditional and non-traditional channels of advertising where companies present their products in an intriguing, yet removed manner to prompt a purchase, virtual reality gives consumers and companies alike the ability to both showcase and experience what the product has to offer.
Laura Carrick aptly explains the concept in an article published by the Digital Marketing Institute by referring to virtual reality marketing as an “experience that essentially places the user ‘in’ another world or dimension.” (2019) Succinctly defined, virtual reality is just that: the use of technology to make a consumer feel as though he or she is somewhere else, experiencing a completely different reality. Basically, a consumer can be sitting on his couch in boxers in snowy Calgary, while the virtual reality experience transports him to a dusty road in Death Valley, travelling 200 miles per hour in a top-of-the-line Porsche Audi A8. While typical advertisements tell you how happy you could be after purchasing their product, virtual reality marketing shows you.

Present-Day Virtual Reality Marketing
According to a recent article in Forbes (Bershtein, 2018), the future of cementing virtual reality’s innovative role in digital marketing is already underway as the automotive industry has begun utilizing its unprecedented features. By allowing a potential customer to sit inside a lavishly upholstered Audi or feel the force of acceleration of a Porsche, these car manufacturers are able to give consumers a first-hand experience at driving one of their luxury vehicles. Instead of relying on their brand awareness associated to both luxury and extravagance, these corporations have found the benefit of showcasing their expensive product in the most tangible way possible- other than actually taking one of the cars for a test drive. By doing this, Audi and Porsche are capitalizing on innovative technology to not only reach prospective customers, but to implant the desire to buy one of their luxury cars after feeling as though the customer had been at the wheel him or herself.

Future of Virtual Reality Marketing
Just as Audi and Porsche have already discovered, a flattering image or exhilarating video are no match for an immersive and realistic advertising experience. Moreover, it extends from mere advertisement to activity. Although virtual reality in digital marketing seems like a no-brainer and should be introduced across all industries regardless of prestige or affluence, our current- somewhat unfortunate- reality contains one apparent flaw.
Firstly, the cost of a virtual reality apparatus that facilitates the uncanny transportation to a new and exciting dimension comes at a steep price. In the 2018 Forbes article mentioned above, Bershtein suggests the price of a virtual reality machine currently sits on the shelf between $300-$600, which may exceed current demand based on the availability of compatible content. However, just as Bershtein states, it is only a matter of time before the price tag of virtual reality comes down, similar to other technological advances in the past, such as the PC or the revolutionary VCR.

Endless Virtual Reality Possibilities
Looking to the automotive industry as the innovators in the virtual reality market, the capacity to introduce this innovative virtual experience knows no bounds. Particularly useful to market products and services that would benefit from allowing the consumer to catch a glimpse of an unfamiliar environment or experience, Laura Carrick (Digital Marketing Institute, 2019) explores the opportunities that await virtual reality digital marketing by suggesting that it would be a game changer to have travel agencies and food/beverage companies use virtual reality to showcase the very real benefits of their product or service. Imagine being able to swim along the Hawaiian and Jamaican coasts before deciding which all-inclusive vacation to purchase or walk through the grape vines of a Napa Valley winery before choosing which tour to book. The possibilities are truly endless and will only be stunted by our willingness to accept the innovative- not to mention presently expensive- digital channel.

Sources:

Bershtein, Ruslan. “Digital Marketing In The Age Of Virtual And Augmented Reality.” Forbes, Forbes          Magazine, 21 Mar.2018,www.forbes.com/sites/forbescommunicationscouncil/2018/03/21/digit            al-marketing-in the-age-of-virtual-and-augmented-reality/#1015c5c866e8.

Carrick, Laura. “7 Examples of Successful Virtual Reality Marketing.” Digital Marketing Institute 2019,                 https://digitalmarketinginstitute.com/en-ca/blog/2018-01-19-7-examples-of-successful-virtual- reality-marketing.

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