7 Statistics That Show Virtual Reality Can Change Marketing.
Virtual technology is a technology with the capacity to reshape our lives for the better. For marketers, virtual reality (VR) can change how we add value to the lives of others and share important messages while evoking our emotions through life-like visuals.
Remember the days when virtual reality was a futuristic concept primarily seen in science fiction movies? Today, anyone can head to the E-commerce giant Amazon and find more than 150 VR headsets for sale. It’s safe to say that we can expect the availability of VR hardware and software to expand with even more diversity. Currently, over 450 startups specializing in virtual reality can be found on AngelList.
Considering the vast opportunities presented by the internet and benefits of VR, more virtual reality startups will be popping up in the near future.
We’ve gathered seven of the most important statistics worth acknowledging as we consider the growing relevance of virtual reality and its potential to impact, and ultimately change, marketing.
Virtual Reality Is Here To Stay
Virtual reality is set to become much more than a consumer trend. It will transition into a normal role within our society and alter the ways we receive information. In fact, experts predict over 80 million consumers will have VR headsets for immersive experiences by 2020.
You may wonder what industry will be the greatest contributor to the rise of virtual technologies - and the answer might surprise you.
Investors, market analysts, tech gurus aren’t confining the allure of virtual reality to a single sector because of its all-encompassing benefits. Industry won’t be the deciding factor for the influx of virtual reality that will change markets. It will be pricing.
50% of people would buy a VR headset if the price is right, which is a promising statistic beyond equipment purchases. Looking past the numbers, the general willingness of diverse consumers to invest in virtual reality will greatly expand marketing opportunities.
The Reach of VR Technology Continues To Expand
Initially, virtual reality was most popular for gaming. But the appeal and marketing power of the virtual experience was being noticed by companies across all sectors. Today, VR is being utilized in diverse industries, such as:
- Real estate
In regards to learning, 41% of people associate the use of virtual reality with education. Using VR as an educational tool would be beneficial for students, working professionals, and educating the public on a variety of topics.
Through VR, the concept of education could transform into a creative learning experience powered by visual storytelling. Educating people through VR would change the way they learn and influence purchasing decisions across multiple markets.
The real estate industry is a prime example as home buyers are now using virtual reality to learn property details and view homes remotely. 77% of people in the U.S. would appreciate virtual reality tours before visiting the property on site.
On a similar note, 68% of home shoppers would love using virtual reality to preview their furniture in a home before physically moving in to a place.
Marketers Can Strengthen Profitable Relationships Through VR
The virtual reality industry could reach $33 billion by 2022 as it continues to intrigue investors and innovative thinkers. This means more businesses will have opportunities to use VR as a visually inspiring platform to attract and inspire new customers.
Simulated reality is impacting our shopping experience on a global scale. It’s up to large companies and small businesses to embrace this technological shift to establish trust with shoppers and secure more sales.
To build genuine and profitable relationships, businesses will have to keep up by changing their selling techniques and incorporating immersive technology into their messaging and advertising strategies.
Here’s a short summary of the stats we’ve listed that highlight the promising future of virtual reality for effective marketing:
There are at least 450 virtual reality startups in the works, and the VR industry could hit $33 billion by 2022. This could give virtual reality a more widespread (and scalable) reach across various industries.
50% of people would buy a VR headset. There are currently over 150 VR headsets for sale on Amazon, and more than 80 million consumers will own virtual headsets by 2020, which means marketers could reach a large audience virtually.
41% of people associate the use of virtual reality with education, allowing marketers to creatively teach possible buyers about products.
In real estate, 77%of people in the U.S. would enjoy virtual reality tours and 68% would love to preview furniture virtually in a new home.