It is a competitive market out there for entrepreneurs. Aside from numerous internal challenges like financial planning, talent hiring, and workflow management business- especially small business owners are now facing modern problems like coping up with technical changes in the market and processing terabytes of data every day to keep their business relevant and afloat in this aggressive era of technology.
As technology is constantly evolving, entrepreneurs need to cope up with it for the success of their business; from hiring talent, manufacturing goods to advertisement and delivery technology has affected all corners of the business. AR and VR technologies dissolve the distance between physical and digital, business can reap benefits by simply adopting Augmented Reality based solutions to their business as it brings about a new way to connect with our clients, friends, and the world around us.
Did you know that the Mars Rover 2021 is equipped with AR technology so that we can experience Mars from home? The crux of the message is: AR technology has reached where humans cannot.
We have compiled some points to understand how Augmented reality can affect your business.
Know your consumer
Understanding the target demographic and examining consumer behaviour is a foundation for any business, businesses thus hire agencies, ask for customer review, conduct an extensive survey to collect insight on customer behaviour. Social media has transformed the method of customer data collection, since most of the population are netzines it is easy to track customer’s digital footprint and understand their likes and dislikes closely.
AR technology simplifies the data collection method. We all know that social media is a giant data collecting pool that assists businesses to market their product better. Augmented Reality companies have developed an application that converts customer experience into data, the data collection happens in real-time with social media analytics, and businesses can use these Augmented Reality tools to create value-based innovative outcomes for their customers.
Grow your business with your customer
Imagine, you own a local restaurant that servers the finest local delicacies but lack tourist attraction because the menu is in the local language. Or maybe you are a real estate business with clients from a faraway location. Language and geographical barriers limit businesses from expanding their boundaries but with the help of AR technology businesses can solve this problem for example- restaurants can have AR menu apps where customers can read the menu in the language of their convenience. And even in the real estate market, agents can show clients their dream property without having to move an inch.
As we understand that AR technology helps reading customer behaviour, with the help of that knowledge businesses can grow exponentially alongside with their customer.
The familiarity of technology
Millennials and Gen Z combined account for the largest consumers in the market right now. This is a generation that has grown up with the technology and social media around them. They are already familiar with AR/VR technology as they used AR-based filters on social media so it is not a shock for them to use AR/VR applications to purchase a product. Businesses can profit from this aspect of familiarity with technology as they do not have to train their customers and even employees (since Millennials and Gen Z are already a prominent presence in the job sector) to this technology.
It is most likely that your consumer already expects AR/VR technology because it is not out-worldly or new for them. For example- many fashion and beauty retailers use a virtual try-on feature, even big companies like Amazon, IKEA, Sephora have a virtual try-on feature on their app so customers can experience the product in its entirety before purchase. So, adopting this technology is the right move for your business.
Fuse Retail and Virtual experience
Physical retailers and e-retailers have their own set of strengths, while physical stores can offer the customer the tactile experience, e-commerce provides the customer the comfort of shopping from anywhere anytime. However, it is interesting to note that retail stores are becoming more digital and digital retailer are becoming more physical- for example, popular fashion brand Timberland has installed an AR Magic mirror outside their store that lets people try-on clothes and shoes by just standing in front of it and e-commerce stores are coming up with virtual showrooms where customers can walk through the entire store, pick and choose items, try on stuff before purchasing.
It shows that businesses want their customers to experience the best of digital and physical to experience the product at its full potential. And since a smart device can be a store with an AR application, retailers can use AR technology to virtually mimic the traditional store shopping experience without creating a shop.
Social media is the pulse of this generation, anything and everything we do is possibly the next viral content. Businesses are already using the power of social media to create a conversation around the brand, sometimes you have even seen popular brands engaging in hilarious interaction, so it is easy to promote a business more than ever!
With AR applications entrepreneurs can create a social media buzz around the brand, customers who will use their service are most likely to share posts on social media, which may create a snowball effect. Even small businesses can collaborate with micro-influencers to increase the visibility of the brand locally. With AR technology and social media in tow, your business will certainly take off!
Train your employees
The success of a business is measured with skillful and happy employees because they represent your business, so it is important to train employees with precision. With AR apps businesses can train their employees with ease and remotely as well. AR/VR apps simulate a real environment and employees can have a fun and interactive experience and with AR training and learning can be made fun because it offers a completely immersive environment with detailed images. In the medical field, doctors use AR/VR technologies to test their knowledge of surgery, understanding human anatomy. Interior decorators can learn the art of designing homes with AR apps, educators can make learning fun for students. The possibilities of training your employees are endless with AR.
AR Virtual Showroom
Imagine a space where you can meet up with potential clients, view raw material for your business, discuss needs and requirements for your business without having to travel to the site. AR Virtual Showroom allows you to do just that, some experts even describe it as a virtual mall for business because of the facilities it provides. AR virtual showroom apps like WoW showroom are developed with a vision to bring the showrooms in a smartphone enabling our customers to get an immersive experience of the showrooms and meanwhile giving them an authority to purchase online resulting in technology upgrade and revenue upsurge of showroom companies.
Augmented Reality in different industries
- Retail and E-commerce:
Showcase your best collection to your client virtually. Features like AR virtual showroom and try-on features surely provide a wholesome retail therapy experience from the comfort of their homes.
AR applications in healthcare facilities help healthcare professionals with BMI index of patients, it helps them study a certain part of a patient's body in detail and even provide an operating solution.
With AR technology, learning is simplified and fun. Educators can take students on virtual tours of an important museum; they can revisit an important time in history and Students can have a more visual and hands-on learning experience.
- Real Estate:
In the real estate business, a beautifully decorated space sells much faster. With AR real estate apps like Wow Real-Estate, businesses can stage spaces that are Intune with the likes of the buyer. The relators can show properties virtually before visiting the property physically and guide them to the best option possible.
- Advertising and Marketing:
AR advertisement allows optimum customer engagement through advertisement and since the technology is fun and engaging, it retains in the memory of the customer.
- Event Planning:
Event planning and management are simplified with AR technology. Businesses can easily host a virtual conference, brands can stream live sessions, integrate one on one chat, even host events like weddings and live performances.
As an entrepreneur, working to make your business successful is a long winding road but AR applications make the journey fun. AR/VR’s interactive and immersive design makes even the most mundane task game-like and not just for the customer but business owners as well. If you also want to bring back the fun and excitement back to business with booming ROI, an AR service provider like WOWexp is definitely the creative solution for your business.