Tuesday, 23 May 2017

How VR may Affect the Way We do Business in the Coming Years?

Virtual reality is proving to be much more than a means of enjoying a stimulating simulated environment. Sure, there are plenty of fun and exciting VR games on the market. Yet the technology is making a meaningful impact across a variety of industries. Just about every line of work will eventually benefit from VR at some point in the future. This amazing technology is poised to redefine the way we do business.

Virtual Reality in the Context of Marketing and Sales

Marketing professionals are constantly on the prowl to convince people to shell out their hard-earned money for a product they have not tried. Virtual reality will ameliorate this challenge. This technology makes it possible to try products and services from nearly any point on the globe at any time. As an example, it is now possible to tour a house from hundreds or thousands of miles away. Virtual reality even makes it possible to tour a home before it is built. VR empowers airline decision makers to take a tour of plane prototypes without actually stepping foot in an airplane hangar. Gearheads can test drive the latest and greatest automobiles from the comfort of home with seemingly real virtual reality simulations.

VR is also making marketing research incredibly easy. This technology makes it possible to conduct a virtual focus group anywhere from a store aisle to the factory floor. These convenient focus groups empower businesses to conduct in-depth and highly accurate research that would have been much more difficult to perform in the years before virtual reality hit the scene.

VR for Business-to-Business (B2B) and Business-to-Consumer (B2C) Sales

Microsoft is working on ways to use virtual reality for companies to tout and sell services and products to other businesses. Consider the software company's HoloLens. This technology is currently advertised as a B2B tool. Though it is used for such purchases, it will ultimately be used for business to consumer sales. This device will likely provide branded experiences to consumers across the globe.

Microsoft has teamed up with Lowes to put its HoloLens technology on display. This remarkable technology lets Lowes display kitchen remodeling projects in the virtual realm. Lowes customers enjoy in-store augmented reality experiences that show a visual portrayal of a prospective kitchen after Lowes' remodel is performed. This is a fantastic example of how the technology is fundamentally altering the landscape of business. In the end, Microsoft's HoloLens technology will ultimately result in satisfied customers, decreased warehouse costs and a minimization of requests for modifications.

The Media's use of Virtual Reality

Branded media is wholeheartedly embracing virtual reality. VR provides an engaging medium to interact with customers. Imagine a future in which prospective customers can enter directly into an advertisement and walk around to experience it in-depth. This is the immersive and interactive messaging the media dreams of. In fact, many industry experts are adamant that virtual reality is the future of advertising.

VR Ameliorates the Hiring Process

It won't be long until businesses use virtual reality to improve their hiring processes. Virtual reality will be used to get a gauge as to whether job candidates are a cultural fit at prospective employers. This immersive virtual environment allows a potential hire to spend time in the business to determine if the work environment is ideal for him and vice versa. Furthermore, virtual reality will allow remote workers to interact with on-site employees in a much more effective manner. The technology will ultimately improve teamwork and help establish better relationships in the workplace.

VR for Improved Medicine

VR is already changing medicine and medical education. Virtual reality surgery simulators provide medical students and professional surgeons with the opportunity to practice surgeries before performing them on real patients. VR is also used as a form of therapy for veterans plagued by PTSD after returning home from battle. Patients who spend a lengthy portion of time in hospital beds are currently using virtual reality socialization tools like Liminal's Joy to reduce loneliness and improve mood.

VR in Retail

Virtual reality might be the future of retail. Virtual reality will soon empower businesses to get a better measurement of customer behavior as well as product consumption in an array of settings. Such virtual simulations will allow for an improved understanding of consumption trends along with social and cultural trends. All of this information is critically important to retailers who are constantly looking to better understand human behavior and the desires of target customers.

VR Will Change the Ways Meetings are Conducted

VR will make it quite easy to conduct meetings with individuals who are located far away from one another. It won't be long until virtual meetings are conducted with co-workers from across the globe. All that will be necessary is the use of a VR helmet. The simulated meeting environment will allow for seemingly real interactions with colleagues in real-time. It will even be possible to make presentations in virtual reality meetings just as professionals do in conventional real-world meetings.

Business Will Never be the Same Once Virtual Reality Hits Its Stride

The recent advancements in virtual reality merely represent the tip of the VR iceberg. This technology is poised to change business across the world. It will impact the consumer shopping experience, marketing efforts, product modeling and so many other aspects of modern commerce. VR is even influencing the medical and educational realms to boot. It is not far fetched to say the vast majority of businesses and consumers will have virtual reality headsets in their offices and homes within the next five years. There should be no doubt that this potentially revolutionary technology will soon be viewed as an essential tool for conducting business.

Kris Lindahl is a Minnesota native and owner of The Kris Lindahl Team with RE/MAX Results.

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