What Problems can Augmented & Virtual Reality Solve for my Business?

By the year 2025, Augmented Reality (AR) and Virtual Reality (VR) are predicted to be a critical part of important business activities including marketing, prototyping, customer engagement and much more. At present, the AR/VR industry has already taken flight with a net worth of 16.8 billion dollars and a growing number of users worldwide. By 2023, the worth of this booming industry is said to surpass 160 billion dollars.

Despite popular belief, the use of Augmented & Virtual Reality extends far beyond entertainment and businesses are quickly realizing that. Currently, the technology is slowly making its way into critical organizational processes and transforming the way enterprises do business. By increasing productivity, enhancing engagement and decreasing expenses, AR and VR are winning over top business executives looking for innovative solutions.

In a world full of competition, AR and VR provide an attractive problem-solving solution that can make your business stand out from the rest. Let’s take a look at the top problems AR and VR can solve for your business.

Problem #1: How to Innovate Learning?
Organizations are increasingly tailoring personalized user experiences to improve engagement. However, personalization cannot only enhance user experience; it can also give employee training a new dimension. AR and VR are paving the way to personalized employee experiences that gamify traditional procedures to help in hiring, training and employee retention.

Famous companies such as Verizon and Walmart are already applying AR and VR training techniques with the use of STRIVR. Immersive training programs put employees in simulated work-related situations, allowing them to polish their skills and improve productivity.

Problem #2: How to Surpass Competition?
Despite its popularity, AR/VR is a relatively new technology which is received with a high degree of fascination. Utilizing the intrigue surrounding AR/VR and incorporating it into your business practices can reveal startling results. A simple immersive reality marketing campaign or application for your customers can make you stand out from the competition in a huge way.

Many business giants all over the world are quickly turning towards innovative and immersive AR/VR campaigns to grab attention. Oreo’s innovative and fun marketing campaign involving a Virtual tour of the magical world of Oreo treats is a stellar example. Another example is Ford’s ingenious AR campaign on Snapchat that let users explore Ford’s Mini SUV within their environment.

Problem #3: How to Provide an Immersive User Experience?
In the age of ever decreasing attention spans, companies have to use out of the box tactics to increase customer engagement. By leveraging the power of AR and VR technology, companies are able to build immersive reality experiences that are instant eye catchers for their technology-driven audience. Something as simplistic as a Virtual walkthrough of your store could get customers talking, to give your business the edge you require.

A use case of the technology is clearly visible in the retail world where Virtual reality is helping companies build a virtual closet or supermarket for customers. Also, even Home depot businesses such Lowe’s are creating AR applications that help customers visualize their products in the real world.

Businesses are using AR, VR and a whole lot of creativity for problem solving and building immersive user experiences, interactive employee training programs, and attention grabbing marketing campaigns. By experimenting with basic AR and VR technology, you too can build innovative solutions to some of the most common problems your business faces.