3 Ways VR Will Be a Force for Good for Businesses

Looking ahead at how VR is set to shape brand activities in the coming years, we can see the business cases for VR-based solutions are quickly ramping up.

In recent years, virtual reality (VR) has made its name in the gaming, entertainment and simulation spheres. VR headsets became all the rage and even became a popular choice for weddings and celebrations to entertain guests and add something a little extra to events.

But VR is not just a toy. Far from it. The technology, which exploded onto the digital scene and has since gone from an elusive concept to a sought-after trend, is transforming how we do business.

What do the next few years have in store for the advancing technology? Well, we can expect to see more brands opting for VR to transport, connect and engage with their target consumers in a playful and joyful way—something consumers are looking for more of in 2021.

For all of the anticipated and upcoming VR applications, the emphasis is on providing solutions to a business’s most prevalent problems and needs. We explore three of the key ways businesses can maximise the potential of VR.

Mitigating Risk

Strategies, plans, and SWOT analyses are commonplace in businesses today, Yet, these are unable to completely eradicate the possibility of running a misguided or unsuccessful campaign. Here is where VR is coming in.

With any business endeavour, whether it’s launching a new brand initiative, product or service, it’s incredibly challenging (arguably, impossible) to preempt all the possible scenarios and know all of its potential variables.

However, VR provides a way for brands to do this by knowing the unique and independent circumstances surrounding each element of a project. It reduces the risk of using project resources without knowing the full implications of a campaign and how these will impact its outcome.

Using VR on a construction project, for example, to plan the building’s height can alert the business to the possible scenarios, experiences, and fears that may occur, optimising the project’s management and overall success. 

Reducing Expenses

With practical applications for all industries, from marketing and production to finance and HR, VR enables businesses to carry out tasks that humans would typically conduct. The technology, therefore, allows businesses to utilise their teams for the most important, people-centric, emotive and value-adding tasks. Businesses can explore VR’s benefits in tasks that require a discovery dimension. VR offers the most value in scenarios that cannot be mimicked efficiently or cost-effectively in real-life environments.

With the ongoing pandemic, many businesses have changed their models to enable teams to work from home (WFH). Teams carrying out tasks without being physically present, otherwise known as telepresence, are seeing the capabilities and benefits of VR. Businesses can also model scenarios and real-world objects using VR to demonstrate its longer-term potential beyond Covid-19.

Training Teams

Instruction, education and training are getting an overhaul with the adoption of business-based VR. Immersion is key with VR. The technology achieves this immersion by presenting users with a photorealistic picture of their ‘surroundings’. Users can then observe and learn from these landscapes.

The trending technology will support various industries, including property, vehicle training and flight simulations, to enhance their situational advancements.   

Find Out More

For more insights on how VR can help shape your business in 2021 and the years ahead, get in touch today.