Virtual Reality And Immersive Experiences As A Business Strategy
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Holmes Report

Virtual Reality And Immersive Experiences As A Business Strategy

Virtual reality constitutes a tool for all those marketing and communication leaders in their struggle for consumer attention.

LLORENTE & CUENCA

Virtual Reality And Immersive Experiences As A Business Strategy

Experiences with augmented immersive content bring new possibilities for consumers, since they can visit new worlds and experience different adventures that might be impossible otherwise. Virtual reality constitutes a tool for all those marketing and communication leaders in their struggle for consumer attention.

Virtual reality enables to do something that could not be done before: demonstrate instead of promising by allowing consumers to experience first-hand their corporate narrative. It is precisely this imaginary effect that virtual reality offers to those in charge of major brands, and they are putting it to use. This way, companies have acquired a powerful tool: an empathy machine. Different companies have already put this into practice: Coca- Cola, Audi, Under, Armour or Inditex.

Some believe that virtual reality and immersive experiences could even change and improve the world. Google has joined forces with Netflix, HBO or Hulu to offer its content and show the possibilities of immersive fiction by presenting in collaboration with J.K. Rowling the “Fantastic Beasts” experience.  Google, together with its 50 partners, expects us to interact with the content. To this end, they will include games, adventures and educational experiences. Besides, there is a movement of experts headed by Palmer Luckey (founder of Oculus Rift) that claim that virtual reality enables the reduction of social gap by bringing experiences to people who otherwise would not have access to them.

In this context, some big companies are investing and preparing their devices, platforms and spaces to be at the forefront of the coming revolution. The advances are happening faster each day, and companies struggle to keep truck of the developments.

Earlier on, interact and surf on the Internet seemed impossible, but right now it is an essential part of our daily life. But the biggest innovation will come in the near future at the hand of Magic Leap, a company leading the new technological step: Mixed Reality. This technology makes it possible to mix our reality, seen through normal glasses, with augmented reality graphics.

The technological change will take no longer than 10 years and it could affect all areas of our life and reach unexpected limits. In this context of revolution and transformation, there is one thing that seems to be going to remain the same: the need of telling stories. It is only a matter of time to see how technology affects this matter.

By:
David G. Natal, Director of the Consumer Engagement Area at LLORENTE & CUENCA Spain

Julio Alonso, Consultant at the Consumer Engagement Area at LLORENTE & CUENCA

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