Augmented Reality is radically changing the digital view of the real world. AR is "an enhanced version of reality created by the use of technology to add digital information on an image of something." AR will bring the next generation of experience and engagement to millions of homes that were earlier restricted to a 2-dimensional television screen. AR will help companies redefine customer satisfaction and assist them in connecting with users in some pretty innovative ways. Some of the earliest eye catching examples in companies leveraging AR were Halifax’s homefinder app 2012 and the 2014 IKEA catalogue.
According to research by Goldman Sachs, the virtual and augmented reality industry will become an $80 billion market by 2025. With such a massive market staring at them, companies are hustling to make this path breaking technology part of their business model. The prize is the digital-savvy millennial buyer who is immune to generic mass-produced products and services attractive to baby boomers. Firms such as Sotheby’s real estate arm are already using Samsung Gear VR to showcase their properties for the past few years. But now more and more industries are opening up to the idea of incorporating AR into their business plans.
Why should companies embrace Augmented Reality?
AR can be the game changer as it has the potential to change how businesses engage with their customers. Early adopters of this technology will have an edge over their competitors, as they will be able to develop new ways of servicing customers or change the way how a customer engages with a product in their physical space. Three key benefits offered by the AR is the reason why it is becoming an integral part of company’s business strategies. • Sales will be redefined by AR. Real Estate, Tourism, Fashion, Entertainment and many more industries will be driven by their AR content’s ability to drive sales. • Companies would be able to customize brand interactions and create a compelling experience for its customers. •Traditional customer service and other client-facing retail roles can be enhanced or even replaced by AR. Multi- dimensional Customer Experiences Augmented reality can enhance the customer experience in many different, creative and innovative ways. Research from KPMG highlights how AR and VR can be particularly useful to marketing, sales, customer service and post sales, by offering three major benefits: •Emotional connection: Because customers can actually visualize and feel the product they will be more emotionally attached with the product or topic. •Easy access to the information: Information will easily accessible and will be easier to understand because it will be available in various formats that promotes multi-sensory learning. •Captivating imaginative experiences: Because of AR, customers will be able to get various workable imaginary scenarios right there and then, hence avoiding the need for dummies or samples. For example Try-before-you-buy scenarios will be perfect for customers when they are out for shopping clothes.
AR will become the go-to- platform for a plethora of customer interactions across various segments. Though the market is still in a nascent stage, the numbers mentioned below suggest that the future augurs well for the AR industry. Early starters will definitely have an upper hand in the long run as they will get first crack at unlocking the early operational performance benefits and will be able to create a new AR-enhanced customer experience.
This article is sponsored by Lampix. www.lampix.co.