How VR is helping business’ to grow and how it can help you too.

Virtual reality is a quickly developing technology in a quickly developing market. According to Forbes Magazine, virtual reality will reach a market volume of 98.4 million sales by 2023. This growth represents the frequent advancements in the tech and the general acceptance of VR by the community.

The growth of VR as an industry will lead to further applications of the technology for business owners to enhance their business. There is more than just virtual reality available to business owners, augmented reality is also a key player in enhancing your business.

Business types that can use reality products

Virtual and Augmented reality have some of their strongest applications in the Business-to-Consumer (B2C) business model. By incorporating VR and AR into the customer experience, multiple business’ have been able to enhance their customer engagement.

While the B2C model is great for virtual and augmented reality, this technology is also useful for in house services like employee training. There have been many developments in VR training in recent times due to its excellent ability to immerse its users in the environment.

The point is that VR and AR can be used to enhance business’ in a lot of industries. All that is required is a little creativity and commitment. So, here is a list of the 4 ways you can enhance your business with VR and AR.

Enhance the Customer Experience

Virtual and Augmented reality are both very powerful tools for enhancing the customer experience. By incorporating them into your business, you can help customers decide whether your product is for them. By using AR and VR, you can allow customers to test your products with some simple programs.

A good example of the power of AR for enhancing the customer experience comes from IKEA. Using a simple phone app called IKEA Place, IKEA allows customer to test out how furniture would look in their house or apartment. All that you need to do is download an app on your Apple or Android product and the app helps you place their products in your house.

IKEA Place Augmented Reality App
IKEA Place – Image Source: IKEA

The make-up company Sephora has a similar AR application. It allows customers to virtually test out make-up products before purchase to help them find the best product for themselves. While it seems like these apps require a lot of effort, the response from customers will be very positive.

Customers love to try before they buy. In fact, in a 2017 survey conducted by Retail Dive, 56% of customers go shopping to see, touch and feel products before purchasing online. Allowing them to do exactly that with AR will help to avoid this habit and invite them to buy from you sooner.

Training your Employee’s

Your employee’s are one of the most important investments that you will ever make in your business. Maybe in the early days you can get away with doing the work on your own, but as your operation grows you will need to hire and train employee’s. Virtual reality is an excellent opportunity to enhance your training program of your employee’s.

In the retail industry, VR training can be utilised to teach employees how to deal with difficult customers and situations. The advantage is that while they are new, they can learn these procedures in a less stressful environment before being subject to real customers and potentially reacting poorly. This is also a good opportunity to reinforce strong customer service behaviour while serving.

While virtual reality training for low risk situations may seem excessive, mining companies must train for work with higher risks. A technique used in coal mining is the digging of underground long walls, which is a dangerous environment to work in for coal miners.

Virtual reality training allows mining companies to train their workers to operate as safely as possible underground without exposure to risk. You can also train contractors to operate large machinery using VR for small costs compared to large machinery simulators which are very expensive.

Dump Truck Training Simulator
Dump Truck Operator Training Simulator – Image Source: Immersive Technologies
Displaying your Product or Design

Imagine having a house built for you. While you can look at all of the drawings you like, it’s hard to imagine what your house will really be like. The dimensions give you an idea but it’s difficult to really understand them and how they will feel.

Virtual reality applications can be used in the construction industry for this exact problem. By having a custom house model developed for VR, customers can see their house before it’s built. This can enhance your construction or architecture business drastically by ensuring you deliver exactly what your client wants.

Virtual Reality House
Housing Interior 3D Design – Image Credit: Jack Zimmer (Zimmer Design)

Virtual reality is also useful for designing large products such as cars and motorbikes. By displaying the product in front of you, you can make alterations in real time, enhancing your design process. This will help you shorten your design process and present the design to key stakeholders.

Expand your Software Business

VR and AR can aid your business in a lot of ways, but they can also help you expand it. This new industry will be around for a long time, and presents a key opportunity for software companies. In all of the applications mentioned above, software will need to be created to implement these ideas. As a software developer, you can strengthen your business by expanding into this new growing sector.

By moving into the VR and AR market, you open your business up to piggy backing on the market while it grows. This gives you the opportunity for large growth. While VR software development is a challenge, it also presents a range of new projects that can orientate your business.

Be Creative.

I understand that not all of these hints for how VR can help your business may apply to you. Luckily that’s not the point of this article. The key message here is to be creative with this new technology.

Virtual and Augmented reality present plenty of new opportunities for growing your business. They can effect your business in many different ways and will only become more useful in the future.

Think we missed something? Let us know.

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