Introduction to Virtual and Augmented Reality in Business
Virtual reality (VR) and augmented reality (AR) have evolved from mere gaming experiences to powerful tools which are transforming the business landscape. According to an IDC white paper, 62% of respondents reported that service-based AR experiences drive measurable return on investment (ROI). Today, AR and VR applications may be present in almost every industry, from agriculture to manufacturing.
Real-World Applications of AR and VR
For instance, a Russian farmer and scientific team have developed VR goggles for dairy cows to immerse them in a virtual open field, hoping to extend milk production. While AR/VR may be applied to varied industries, some functions are more fitted to these technologies, resembling field service and maintenance. In these areas, highly technical tasks require each hands for use or compliance with regulations like OSHA and FDA. There are five common use cases for AR/VR in field service: identifying parts that need substitute, viewing technical information, distant customer support, worker training, and following complex maintenance procedures.
Sales and Marketing with AR and VR
Another significant function where AR and VR are making an impact is in sales and marketing. These technologies can dramatically improve or disrupt outdated processes and engagement models, allowing firms to reveal their unique value proposition more effectively. Companies utilizing virtual product models are finding an actual competitive advantage. Interactive applications engage prospects earlier, train sales teams faster, shorten sales cycles, reduce product shipping costs, and increase win rates.
Case Study: Ricoh USA, Inc.
Ricoh USA, Inc., a industrial and industrial printing firm, is an ideal example of how AR and VR may be utilized in sales and marketing. The company’s portfolio of production presses and platforms are high-powered technological innovations that provide high levels of customization. However, shipping these presses to demo sites around the globe was costly, with each shipment costing over $150,000 per printer, per event. To address this issue, Ricoh developed a virtual product tour that can be available in augmented reality. This interactive, photo-realistic, 3-D-animated virtual tour and AR experience of the printing press allows customers to explore the features and advantages of the product without the necessity for physical equipment.
Case Study: CenturyLink
CenturyLink, a connectivity and cloud services provider, developed a customized, immersive virtual reality application to captivate prospects. The VR experience began with a connected city, which provided users with interactive touch points that communicated the worth of CenturyLink’s robust global fiber network. Through animations and videos viewed on a headset, users could explore the world of autonomous vehicles, interactive signage, mobile communication, and cloud services. The immersive VR experience put users into recognizable and relatable vignettes and environments that highlighted the importance of getting the appropriate cloud, network, and experts.
Results and Benefits
The results of those AR and VR applications have been impressive. For example, CenturyLink’s VR application created a 400% increase in onsite engagement versus the previous yr on the Amazon Web Services’ re:Invent tradeshow. By leveraging AR and VR, firms can resolve customer pain points more efficiently, without compromising valued experiences. This technology is not any longer a novelty but a table stake for leading firms.
Conclusion
In conclusion, virtual and augmented reality are transforming the business landscape, offering a wide selection of applications and advantages. From field service and maintenance to sales and marketing, AR and VR are helping firms to enhance efficiency, reduce costs, and increase customer engagement. As the technology continues to evolve, we are able to expect to see much more progressive applications of AR and VR within the business world. By embracing these technologies, firms can stay ahead of the competition and supply unique and valued experiences for his or her customers.
