No longer is virtual reality (VR) a far-off, science-fiction fantasy. Brands are now adopting the technology into their marketing practices. Industries like tourism and retail use VR to render 3D models of their services, while the entertainment industry uses the technology to create immersive, interactive, and informative customer experiences. By 2030, VR and AR could potentially boost global GDP to USD 1.5 trillion.
In her recent article for Influencer Marketing Hub, writer Geri Mileva explores VR marketing in 2022 and beyond. VR serves four marketing purposes: telling stories, creating memorable experiences, making advertisements more exciting, and showcasing products in a new light. Often, companies enhance existing campaigns with VR, such as the New York Times using the technology in The Displaced, a story about children suffering in wars. VR allowed audiences to experience the devastation of battle firsthand and enhanced the emotions evoked by the text. Other times, original marketing campaigns are designed specifically for VR, like the Volvo XC90 showcase, which allowed customers to go on a virtual reality test drive.
VR also opens the doors for new types of marketing, with virtual influencers, virtual try-on, and virtual real estate being three examples. Through VR, brands can bring the future to the present and innovate even more. What new creations will this technology bring to the marketing landscape in the future?