How virtual reality will benefit your business in the coming years

Virtual Reality (VR) and Augmented Reality (AR) technology have the potential to massively benefit and transform businesses across all sectors and locations. Indeed, they are already being incorporated in industries such as retail, engineering, architecture, and recruitment.

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The AR/VR market is forecasted to exceed $192 billion by 2022.

How can your business benefit from this technology?

Recruitment/training

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VR is already being used by some organisations as part of the screening process for new candidates. One use is through VR video conferencing, which allows recruiters to experience more authentic “face-to-face” interactions with candidates during interviews (without having to be in the same room). This enables recruiters to better see how candidates react to certain questions and situations. Another recruiting tool that VR can be used for is more immersive and realistic candidate assessments. The candidates can be placed into realistic situations and their reactions monitored and marked.

When it comes to training, VR has the potential to make it much more attractive for employees. They can be put into realistic simulations and learn as they go rather than having to follow rigid assessors and courses. A competitive element can also be added to increase engagement levels.

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Improved customer experience

VR and AR can boost customer experience in several ways. In a retail environment, for example, customers can try before they buy and experience how products will look without having to physically try them on.

VR can also enhance the communication between a business and customer. For example, it can enable a direct connection between the two when a customer is placing an order. Being able to see someone via VR-enabled video calling makes the transaction process much more interesting than when using a traditional phone line.

Marketing and analytics

With VR, companies can create marketing that is immersive and gives an amazingly realistic experience of the product. This means that marketers move from a “tell” to a “show”.

VR also enables businesses to collect and analyse large quantities of information about how consumers are reacting to their products. This can help to improve product quality and boost customer loyalty.

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