In order to continually market your products successfully, your marketing efforts must evolve to keep up with the trends. The prevalence of smartphones and tablets has created a generation of technology-savvy consumers and in order to sell to them, it’s becoming more important to keep your marketing relevant and exciting.
Effective product marketing is not only visual, but dynamic as well. Adapting to your target audience in an innovative way is necessary, although the experience created for the consumer will soon be just as vital.
The virtual fire continues to heat up beneath the AR/VR industry with investments continuing to build and soar. According to a report from Digi-Capital, AR and VR investments are taking off pretty rapidly with nearly $700 million being invested into the space in 2015.
The overall trends show investment steadily rising. The report notes that there “have now been 6 straight quarters of AR/VR investment growth, with a quarter of a billion dollars invested in Q4 2015 alone at nearly 6x the rate of mid-2014.”
The report also detailed that 2015 saw just $311 million of AR/VR M&A exits, which it noted wasn’t all that surprising given how relatively early it is in the industry’s life cycle. The report stressed that there would likely be significant movement soon in the industry as “major players try to leapfrog the competition”
Another item that’s clear from the report is the fact that secretive powerhouse Magic Leap is an impressively hulking force in the industry. Their $542M Series B led by Google in October of 2014 presents a pretty clear kink in the generally nice upward trend of yearly investments.
The report also obviously doesn’t include Magic Leap’s (still unconfirmed) 2015 raise, which Forbes reported clocked in at a staggering and industry-dwarfing $827 million.
The report has a pretty bullish outlook on the future growth of VR/AR, suggesting that the “next platform shift to AR/VR looks like it could drive growth to $120 billion by 2020.” That is a hell of a lot of dough.
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Coca Cola is a global leader in the beverage industry, offering hundreds of brands, including soft drinks, fruit juices, sports drinks and other beverages.
Coca Cola Germany’s sales team used to face a number of challenges when selling its beverage coolers. Among the wide variety of designs and sizes available, it was difficult to find the ideal fit for each store and to show customers how Coca-Cola’s coolers would look in their space. There seemed to be no solution that enabled customers to quickly reach a full appreciation of the product and layout.
With Augment linked to its Salesforce based retail execution app, Coca-Cola Germany’s sales team is now selling its coolers with ease. The sales representatives have the ability to securely access their full catalogue of augmented reality coolers offline through their tablet or smartphone anywhere at anytime. With this, they can simulate 3D cooler configurations on-site with their clients to make more informed decisions about product placement. They have the capability to take photos of their simulations, which are automatically attached to the right opportunity or account in Salesforce, to share with their customers.
No longer is product size and fit an issue for Coca-Cola Germany’s sales team thanks to Augment’s real time access to 3D cooler models right from their CRM platform.
This integration is available to all Salesforce users through Augment’s Salesforce1-ready app on the AppExchange. Augment can be directly opened from the Salesforce1 app.
3 other Consumer Giants Who Used Augmented Reality for Retail
Augmented reality (AR) technology makes it possible for the digital realm and the real world to combine in a seamless environment. With AR, digital components and overlays work to enhance and elevate real life scenarios in countless ways. Not only is augmented reality consumed by only tech corporations and gaming communities, but it is also becoming a more mainstream technology embraced by large retailers and customers alike. Many major consumer-driven companies are now successfully using augmented reality technology and AR apps to enrich their customers’ experiences and interactions with their brand, to ultimately boost sales.
Lego, IKEA, and Converse have all been active in using AR to boost their retail presence and sales through enriching their customer interaction and buying experience. Here’s how:
Lego is in the process of implementing AR-powered kiosks and product boxes into retail locations of theirs around the world. Customers can use the kiosk to scan the box of the Lego kit they are considering purchasing, and show their children exactly what the finished product will look like, in 3D. The assembled image appears on a screen on the kiosk, and shows a real-life view of the very Lego set they are thinking about buying. This impressive technology helps customers make their purchasing decision with more confidence, and adds an intriguing shopping experience for both children and their parents.
IKEA has remained successful partly because of their ability to leverage technology and ecommerce for their consumers. In 2013, IKEA created an AR catalog app to help customers visualize how certain pieces of furniture would fit and look in their very own homes. Customers simply launch the app on their smartphone or tablet, and use the camera function to capture an image of a room in their home. The customer can then select different items from the IKEA catalog to see how the finished, assembled piece of furniture will look in their home before they purchase.
Augmented reality technology makes it possible for the customer to test drive different products in real time. IKEA’s visionary retail campaign performed well as it helped decrease common objections furniture shoppers often have when making the decision to purchase. Will if fit in my living room? Will this look okay in my bedroom? Augmented reality for retail is helping customers answer these questions themselves, thus raising a positive excitement about their purchase.
Converse uses innovative technology to show how shoes will be tried on in the near future. With their AR-fueled Converse Sampler app, the customer can select any shoe from the Converse catalog and simply point the phone towards you foot to see how the (virtual) shoe will look wearing it.
This particular app even supports purchases, so the customer can have the full retail experience of shopping, trying on shoes, and making a purchase all through the power of AR.
Can Augmented Reality Benefit Your Shoppers?
Augmented reality technology is becoming much more of mainstream among retail businesses. Consumers are increasingly tech savvy who tend to make their purchasing decision from home or on a mobile device. Augmented reality is the segway for retailers to create more meaningful, memorable shopping experiences for customers while leveraging your digital audience in the process.
Augmented reality technology and AR apps have limitless marketing potential for retailers. In order to stay current, competitive, and relevant in your industry you should begin embracing and integrating AR into your business. Augment is a leading innovator in augmented reality for enterprise, helping retailers create innovative shopping experiences in retail. Start a free trial today to begin harnessing the power of augmented reality in your company.