Virtual Reality – A Tool for Big and Small Businesses

Virtual Reality is fast going mainstream. With projections putting the industry at $120 billion by 2020, virtual reality is here to stay. A field once the exclusive preserve of big businesses, small businesses are fast entering the fray of businesses applying virtual and augmented reality to day-to-day activities.

Virtual reality long held sway as something for tech-centric and gaming industries. But this is changing as its application begins to expand to vastly different niches. A cost-benefit analysis would reveal that virtual reality, when properly applied, is worth the expense you would acquire. How can you leverage VR to the benefit of your own business?

Training and HR

Your business would always require new recruits. Sometimes this is for replacement but it could also be due to expansion. Having these new recruits come to terms with your business needs and their roles in it is critical. The slower the process, the more money your company loses.

Virtual reality can help speed up this process, getting your employees to “have a feel” of their work process, through the use of interactive training modules. During recruitment, it could give potential employees a clear idea of their roles and tasks before they even begin to see how they handle these roles.

Sales and Marketing

Sales is undoubtedly visual. Storytelling can be long and boring. People are moved to buy products when they can visibly see how it impacts them. By leveraging on virtual and augmented reality, you can create highly interactive demos that allows potential customers get an experience – somewhat firsthand – of your product.

The thrill of the experience, combined with your ability to better nail your point will help push these potentials over the line. This is an especially great tool for businesses in the tourism and property sector where visuals are key to customer interests. Retailers have also put it to use, helping you see just how their products can be used and how it can fit into your home/office.

User Experience and Brand Loyalty

The time spent explaining how to make use of a product can be better spent improving your business. This explains why eBooks, videos, and blogs are used to offer self-help guides. With VR, you can go a step further in improving user experience and product satisfaction by helping buyers learn to and understand how to operate and fix minor issues in the product you sell. While videos come close, AR/VR will be an even greater enhancement, thus improving brand loyalty.

Is VR Right for you?

Much like internet and smartphones at the time of their release, VR is the technology of the future. The better question should be how you can put it to use in your business. Our partners Virtual Perspective could work with you to determine how best AR/VR can be integrated into your business.