How AR and VR Strategy is Helpful for Your Business?

Let go of any preconceived notion that Augmented Reality (AR) and Virtual Reality (VR) are just flashy gadgets or limited to gaming sensations like Pokemon Go. It’s time for a business revolution!

With a staggering 32.7 million Americans diving into VR experiences, these technologies are not just a trend – they are redefining customer engagement, revolutionizing employee training, and reshaping the business strategy.

As numerous studies unveil the myriad benefits of immersive technologies in numerous industries – from risk reduction and contextualization to cost savings and enhanced memory retention –  explore how AR and VR can propel your business into a new era of innovation.

How Augmented Reality Boosts Your Business?

AR business applications are a domain that is growing significantly. 

● Operators and engineers in various industries actively use handheld devices for assistance, training, and remote guidance, enhancing operational efficiency and ensuring a safer workforce.

● In the automotive sector, augmented reality applications are used for design review, driver assistance and improved customer experience for product customization and marketing.

This technological integration leads to improved design precision, improved safety features, and a more engaging customer journey. 

● Integrating AR in classrooms proves to generate a significant ROI (Return On Investment) as it allows learners to have an authentic experience leading to enhanced student engagement, knowledge retention, and overall academic performance. 

● Augmented Reality transforms telemedicine with real-time collaboration for surgeries, enhancing medical training through immersive 3D visualizations.

● AR experiences in the e-commerce industry, prove to be 30 times more effective in driving engagement than traditional methods and empower leading companies to capture greater attention.

Simply put, the range of applications for augmented reality in business is growing exponentially according to the industry's needs.

How Will AR Change the Business Landscape?

The benefits of Augmented reality in business are changing businesses across the globe, improving workforce quality through efficient training, minimizing downtime, and saving costs. Besides, remote assistance is instant, addressing challenges across several industries. 

AR ensures safety by removing human errors, offering quick, personalized solutions for customer preferences, accelerating the complete process, and saving costs. 

How Virtual Reality Boosts Your Business?

Unquestionably, virtual reality for business applications will be a transformative force.

● In manufacturing industries like Oil and Gas, virtual reality optimizes operational efficiency by implementing collaborative design processes and reviews for 3D visualization of geospatial data for exploration and production. 

● Using VR in experiential marketing offers an immersive showcase of your brand, allowing consumers to focus entirely on your business. This increased engagement leads to 62% higher brand affinity, contributing to enhanced sales opportunities as customers feel more connected and involved with the brand. 

● Leveraging VR in employee training accelerates learning, ensuring effective skills acquisition and real-world success, leading to significant time and resource savings.

How Will VR Change the Business Landscape?

Virtual reality is revolutionizing business, transforming learning and training with PWC finding it 4 times faster and more focused compared to conventional approaches.

Plus, it delivers customized and emotionally connected learning, accompanied by increased confidence by 40%.

Furthermore, VR helps businesses become more customer-centric, saving time and costs, especially in tourism, real estate, and retail. Also, it improves safety by offering remote simulations with minimized environmental impact.

A virtual reality business plan is inevitable for businesses ready to embrace this impactful technology.

Why Do Businesses Need AR and VR in the 21st Century?

Companies that failed to consider new advancements and technologies in the marketplace have virtually disappeared. The most famous example we all must have heard of is Kodak.

This once-industry giant in photography failed to see the inception of digital photography, lost out to competitors and eventually disappeared from the customer technology scene. The list is long!

Virtual Reality and Augmented Reality are game changers. They have been curated as key technologies for the Fourth Industrial Revolution often termed as Industry 4.0. AR and VR in businesses are primarily crucial to enhancing human performance in the 21st century.

Plus, the companies of the future being knowledge-driven, making vital investments in AR/VR must be part of their business strategy to realize potential advantages.

However, businesses are using AR/VR to transform the way they interact with customers and even their employees. However, you must first evaluate if it’s right for your business, is the investment worth the hype?

After all, establishing an AR/VR strategy to improve a business's bottom line needs a strategic approach that outlines where it could be most effective. 

Finally… 

In today’s digital age, businesses need not just survive, but thrive against any potential challenges.

For decision-makers, the key lies in comprehending the unique value proposition of the applications of AR/VR, streamlining them with business goals, and embarking on a journey that curates your businesses at the forefront of innovation and customer satisfaction. 

The revolution of change is here, and businesses that embrace AR and VR in businesses today will undoubtedly shape the landscape of tomorrow. Take your business to a whole new level with EDIIIE's immersive technologies and bespoke experience.