Virtual Reality, Augmented Reality & 360 Video
Virtual reality (VR) and augmented reality (AR) are two hot topics in the marketing world, promising to change the way brands engage with consumers in-home, in-store, on-site, and anywhere where there’s a screen.
After decades of development, modern VR technology is here: the most advanced medium to truly bring a multisensory experience to life. Realistic sound and visuals, even smells and touch sensations, can be virtually reproduced, opening up a new creative canvas to deliver on a brand’s promise.
As the technology matures and moves up the adoption curve, we will continue to see a lot more testing of VR’s capabilities and the creative bar will continue to rise. According to analysts Digi-Capital, by 2020, the VR/AR industry is projected to reach $150B in revenue. Does this mean virtual reality is inevitably the format of the future, transforming the media habits and expectations of tomorrow’s consumers?
In this Spotlight On, we will go beyond the headlines to better understand what virtual and augmented reality really are, as well as assess the beneﬁts these immersive media oﬀer brands. Across industries, these technologies represent an opportunity to reach consumers in new and exciting ways.
Of course, wise marketers cannot blindly buy into the hype of a platform that still requires investment on both sides – hardware and content – before it reaches scale. Especially considering the deﬂated expectations of the last time virtual reality seemed on the verge of ubiquity, skepticism is to be expected. With great advancements comes great risk; we will look at the trade-oﬀs and limitations of VR and AR that marketers should consider before diving in.
To continue reading please download Spotlight on Virtual Reality, Augmented Reality & 360 Video