We have heard a lot about virtual reality (VR) lately, but what does virtual reality mean for advertising? VR has grown by nearly 4 times this year and is expected to be a $120 Billion industry by year 2020.
Why is VR becoming so popular?
Virtual reality allows you to feel like you are truly there. Whether it is court side at a Suns game or attending a field trip at a museum you would never be able to take your class to. VR trumps watching television. When you are watching TV, you know you are simply just watching. VR makes you feel like you are actually present, experiencing a new place or reliving a memory, like your Grandmother’s birthday.
According to Think With Google, the potential of 360-degree video and VR is immense for content creators, but it will require a shift in thinking. Virtual reality allows viewers to actually participate rather than simply watch, so filmmakers need to shift their way of thinking and not make content frame-by-frame, but build entire 360 worlds. This shift allows messages to become more impactful because the audience feels like they are there and are actually able to participate.
Should I invest in VR for my brand?
Brands need to consider the following before investing in VR:
- Will the subject compel people to explore and take them where they haven’t been before?
- Could participants get a better feel for your product? Giving them experience of being at the store rather then looking at an image online.
- Will you be able to give them an experience when there are things to see and not just a simple white room?
- Will you be able to keep participants engaged providing those “that is cool” moments?
If you answered yes to the questions above, then you should consider investing in VR for your brand.
We would love to hear your thoughts. What do you think of virtual reality? Would you consider it for your brand? Comment below!