B2B virtual reality is a disruptive and powerful technology tool. It is reshaping industries and businesses in today's era through immersive user experiences.
From entertainment to automotive, the potential for virtual reality applications is rising across industries. As a result, industries such as education technology, entertainment, hospitality, and automotive have rapidly adopted VR. And some industries have not yet fully utilized this technology.
What is virtual reality?
Virtual reality is a synthetically created environment in which the user must be fully immersed to experience it. These immersive experiences are highly interactive and exploratory.
Given its ability to enhance the way users interact with the 3D world, VR has been a huge success in customer-centric industries. The inherent realism of this virtual world has the potential to create powerful and customized human experiences.
Virtual reality in the B2B industry takes off
Traditionally oriented industries rely heavily on commercial production that requires manual and manual labor. Therefore, they have been the slow adopters of technology. The predefined configurations don't really leave room for the penetration of technology.
However, with the advent of technologies such as VR, B2B customers are also looking to customized solutions such as the B2C marketplace.
Here are the reasons why B2B players have so far ignored VR applications:
A common assumption is that virtual reality as a service and concept is difficult to learn or adopt. But this is far from reality. The immersive nature of VR makes it one of the newest yet easiest to integrate technologies for absolutely any business type.
When the world's first VR device launched, it cost $1,000. With its reimagining of VR, it's becoming more affordable. Furthermore, with the right strategic application, virtual reality can provide a long-term return on investment.
Drivers in traditional industries often see virtual reality as a flashy tool that doesn't add any significant operational value to a business.
Instead, virtual reality can create real-time immersive experiences even in remote locations. VR is designed to bring inefficiencies. A recent report from B2B Marketing states that by 2022, the number of VR experiences in the B2B industry will be equivalent to 40% of overall immersive experiences.
Redefining the business with virtual reality
Since the business volume of the B2B industry is higher than that of the B2C industry, VR must have a greater impact on the former. Here’s how virtual reality has proven to be an effective tool in an operations-driven industry:
1. Visualization and presentation of products in a portfolio can be easily simulated to educate clients. Even a product that hasn't been built yet. This helps create an engaging experience for customers. VR also facilitates virtual trade shows and events.
2. Virtual reality makes it possible to train employees in virtual classrooms, also remotely. Employees can be trained for product development, sales, maintenance and other functions in industries such as automotive, manufacturing, consumer goods, power and energy.
3. VR has proven to be extremely cost-effective because it can build digital twins in industries such as energy and power, and manufacturing. This has revolutionized the process of product development and real-time fault detection.
4. Virtual reality allows for efficient category management of retail through virtually created stores.
See also: The application of VR in the real estate industry
5. B2B marketers are using virtual reality to create dynamic content that resonates well with customers. VR can be an engaging storytelling tool because it fully immerses users in a virtual journey.
6. Automakers are using virtual reality for product design and marketing, workforce training, and collaboration applications.
As industry players prepare to reinvent their operations with VR, research shows that first movers experimenting with immersive technology will undoubtedly benefit.
Companies that resist this wave of technology risk losing 10% to 20% in revenue, according to an Accenture report.
the way forward
In an age where the world is shut down by social distancing norms, this is the right time for industry players to rethink VR and its impact. Of course, VR as a tool and concept will take its own time to become a cornerstone of business processes across industries.
However, with its limitless potential, it is already on the same path to becoming the same.
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