Although extended reality technologies are more often associated with pleasure and pastimes (VR gaming, AR face filters in apps, etc.), they are having an effect not only in our personal lives. Many businesses are turning to XR to create more efficient, organized, and profitable models for their companies.
But what are these benefits? How is extended reality helping the world of business? Here are a few ways that technology is transforming the industry.
Enhanced Customer Engagement
Maybe the most significant impact on the industry’s XR technologies is their ability to let customers “try before they buy” without entering a store physically.
VR, AR, or MR can let customers look closely at a product in a virtual environment and get detailed information. Also, they can try out products in different combinations, colors, and textures. They can even see their appearance in their homes or on themselves.
Moreover, XR can increase consumer engagement, attract customers, and provide an engaging shopping experience. A Forbes study revealed that 40% of shoppers are willing to pay more for a product if they can experience it through AR.
Improved Communication
XR technology can significantly improve collaboration. Teams can use XR applications to collaborate on projects even when not in the same room. For instance, remote team members can collaborate in real time, allowing products to be co-designed simultaneously. VR conferences and interactive 3D avatars simplify communication between remote teams and improve efficiency.
Better Data Analysis
In marketing, data collection and analysis can be game changers. With specialized metrics, XR can help to identify a customer’s bond with a product, what influences their purchase, or what type of content attracts them most and then personalize how you advertise to them.
Metrics like eye-tacking, biofeedback, heart rate monitoring, etc., XR makes it possible to collect data on customers’ behavior directly during their immersive experience.
XR-based training programs can use KPIs to measure the effectiveness of training activities and how trainees perform in certain situations, allowing businesses to tailor their training programs to be more effective, leading to better-trained staff and less turnover.
Better Customer Experiences
Positive customer experience is the lifeblood of any successful business. XR’s ability to deliver immersive content will help companies connect with their customers better. Also, establish the deeper emotional connection needed to increase their trust and preference for the brand.
Not only can XR transport people to different places, letting them attend live events from the comfort of their homes. But also, XR can help companies organize virtual marketing events and product demos. They are, moreover, giving them a better arena to showcase their products.
In a survey, 63% of customers said extended reality technology would improve their shopping experience.
Of course, with extended reality technologies like virtual and augmented reality, businesses can take their operations to a new level ahead of the competition.
