Does virtual reality marketing make your head spin? Cut through the confusion with this easy guide to VR terms marketers need to know.
Virtual reality may have been around for a while, but for many, VR is still a fairly new concept–especially for marketing professionals trying to figure how VR content fits into their future campaigns. To save you time, here are 10 of the most frequently asked questions about virtual reality marketing
1. Is Virtual Reality a Fad?
Some say so, but the numbers tell a different story. So much so that we’ve devoted an entire blog post talking about just this topic. The short answer is no. Companies like Facebook, Samsung, Google, and HTC have thrown their weight behind VR, putting out amazing headsets and pieces of content. In fact, eight of the top 10 tech companies in the world are heavily invested in VR.
2. How Big Is the VR Market Going to Get?
When you include augmented reality (images superimposed over the real world, rather than recreating it), the virtual reality industry may end up supplanting the mobile industry. By 2020, augmented reality and VR is predicted to be a $150 billion industry, according to Digi-Capital’s 2015 Augmented/Virtual Reality Report. This would account for an audience in the tens of millions, tuning in via console, headset, and mobile device.
3.What Demographics Should My VR Campaign Target?
As the numbers indicate, virtual reality will be adopted by a pretty large audience. But don’t make the mistake of thinking VR will only be for gamers and young people. More than half of Baby Boomers (ages 51-69) polled expressed an interest in virtual reality; if this demographic already comprises a sizeable piece of your audience, don’t think your VR campaign will miss them.
Young audiences will make up the lion’s share of viewers, however–almost 80 percent of Generation Z (10 to 18) claims to be interested, with Millennials right behind them. Polls of minorities also show higher levels of excitement than from Caucasians (14 percent higher).
4. Should My Company Go with Live Action or CGI?
Computer-generated images and animation definitely have their place, but probably not in your marketing campaign. The best way to convey your message is to show the real-life experience you offer, in order to maximize engagement with your viewer. As slick as CGI can be, VR’s immersive capability really makes reality the best canvas to display your message.
5. How Do I Come Up with Good Subjects for This Medium?
A key element to a successful VR campaign is showing off something that only you can–be that the amazing views from your venue, the excitement and energy of your festival or national convention, or any activity unique to your brand. A good virtual reality experience, like any good marketing, tells a story, and this medium in particular allows a viewer to follow the path at their own pace. Essentially, the more details for them to explore, the better.
6. How Do I Find the Right Company to Produce VR Content?
More demand for VR means that there are more production studios out there than ever before. Whether you are an established corporation or a bootstrapping startup, there’s probably a studio to meet your needs.
When searching for a studio, check out what campaigns they have already worked with, and have them show you their process from concept to delivery. The product they deliver to you should be able to play on a majority of platforms, and some companies will perform data analytics, so you don’t have to.
7. What Kind of Turnaround Should I Expect?
Virtual reality experiences can be produced quickly, but remember you’ll be paying a premium for a fast turnaround. In most cases it can take competent developers several weeks to stitch together each image, review the total package, and create a first draft. Since they are shooting in 360 degrees, there is significantly more footage to edit and render than a traditional 2-D video.
8. Should I Wait Until More People Have VR Headsets?
This question makes the false assumption that headsets are cost-prohibitive. While top-end systems like the Oculus Rift run in the hundreds of dollars, cardboard headsets that work with user’s own smartphone can be obtained quickly. This means that you can bring the capability to them, if necessary–the New York Times included one million headsets in its Sunday edition, to entice subscribers to their VR content.
9. What About Those Who Don’t Have VR Headsets?
Not all VR content necessitates a headset to watch. 360-degree video works just fine in the standard YouTube browser, and several companies including YouVisit are trying to make more VR content available for viewing on your computer screen.
10. Is Virtual Reality Worth the Investment?
If you want your brand to remain competitive, the answer is yes. VR platforms are where your audience will be spending more and more of their time, and if they’re not finding your message there, they’ll be finding someone else’s new campaign in their new virtual setting. And taking into account that the medium can introduce your brand to new audiences who may have never heard of you before, it’s an investment worth considering.
YouVisit is an immersive technology company powered by Aria, the leading enterprise platform that enables brands and organizations to engage and convert audiences through interactive 360 experiences.
YouVisit combines the power of Aria with an award-winning production studio to drive measurable results for over 800 clients across mobile, desktop, and VR.
For more information visit Our Services.