A few years ago, when we used to see sci-fi movies like Transformer, matrix revolution, and Mission Impossible; human-like robot, goggles that display information of everything, contacting person without dialing a number, and so many similar things were just hypothetical for us. Now, Augmented reality, virtual reality, Artificial intelligence, like technologies are transforming those fictional stories into non-fictional ideas. Companies from various sectors are already reaping benefits from these technologies. Let’s see why you must consider augmented reality and virtual reality for your business. Lets see why every business must own an Augmented Reality strategy and what these technologies are offering to the business.
Here are the reasons why you must think about the Augmented Reality strategy for your business
Data becomes more accessible with AR and VR
The world has been accumulating a huge amount of data for many years. Many companies were stumped as to what to do with it. The time when data accumulation reached an unprecedented level was called the age of big data. In most cases, it was unable to provide a big insight because the data available was in 2-dimensions. Big Data was not able to analyze that data to describe a 3-dimensional world. So, it’s clear that the gap between real-world and digital world is preventing data analysis from in-depth data exploitation.
Now, augmented reality, which is bridging the gap between the digital world and the real world, is enabling the people to use data into the context directly. This is eventually enhancing the ability to understand and act on the information.
Many companies are already using the Augmented Reality strategy for branding, marketing, product manufacturing, training and many more. A real example is provided by the Changi Airport where ground staff services are being optimized by augmented reality. Likewise, you can also think about augmented reality strategy for seamless accessing, processing, handling, and analyzing data.
Augmented Reality is enticing the Customers
It’s true that people appreciate the new and unique concept. Augmented reality Strategy offers a new and immersive experience and customers really enjoy it. As per market research “almost 50% of customers would be more likely to shop at a retailer that utilizes augmented or virtual reality”. As per AR beauty application, Voir, “8-12 % of shoppers who test beauty products in an AR app go for the buy option”.
In fact, you could see how Snapchat and Pokémon Go got immense popularity just because of AR experience. So, it’s a fact that the company who has an augmented reality strategy get a significant number of customer engagement. In fact, Augmented reality also helps to increase the conversion rate.
Augmented reality magnified the impulse purchase
Retail companies are seeing a surge in impulse purchasing with the use of augmented reality. Almost 72% of consumers ended up shopping even though they did not intend to buy just because of the unique experience. Though many shoppers follow the conventional process for shopping which includes detailed analysis of the product before making a purchase, there are others who purchase a product on impulse just because they came across a product they love.
So AR affected people’s shopping habits and even convinced them to buy the thing that they did not intend. Augmented Reality drives a unique experience and opportunity and motivates consumers to purchase. Use of AR in in-house operation can drastically reduce the purchase time which can further reduce dissonance among buyers.
Retailers can provide amazon effect to the customers with AR
Customers love shopping experience provided by Amazon, Flipkart, and other eCommerce stores. They want the exact experience at in-store as well. Also, they want to engage with a product without any help of any employee at the store. Augmented reality proved its role in providing such experience to your customers.
Tanishq and PC jewelers have also implemented Augmented reality at some of their outlets where consumers can try out thousands of jewelry with the help of AR and VR apps. Consumers love this experience because they don’t need to try every piece and it saves their efforts and time.
No doubt augmented reality strategy can be able to provide many of such similar and more benefits to the retailers without leveraging their overhead budgets.
Give a Head Start to Your Augmented Reality Strategy
Despite the benefits of AR, coming up with an innovative Augmented Reality strategy need not be a huge task. Thus, you can enjoy a fruitful year for your business. You only need an Augmented reality strategy for your business for an engaging experience among users.
If you have no idea how you can use Augmented reality and virtual reality for your business, you must read our eBook “Augment your business with AR/VR”.
At Queppelin, we are creating AR apps. Also, you can watch how we have worked on AR portals. If you have any requirement in augmented reality and virtual reality, give us a buzz at enquiry@queppelintech.com.