Virtual Reality has proven its worth in many areas like promoting a brand or train your employees. In the next paragraphs, we are going to take a closer look at how you can promote an unfinished B2B product by using a VR Experience.
Has the following scenario ever happened to you?
You had a perfect plan. A great idea for a new line of products, which will skyrocket your sales and strengthen the company’s position on the market. The execution began brilliantly. The team was motivated, the designs looked amazing. The product should be just about ready for a launch at the biggest trade show of the year.
But soon, troubles began to arise. An unforeseen software bug. Manufacturer shipped key components with a two-week delay. The lawyer found a small issue with the product that needs resolving. You know whose fault it is. The project manager’s. It was his idea to choose this exact manufacturer in the first place. And he should know something about laws. Fire his sorry ass.
Turns out, you are not alone. According to research, more than 37% maintenance and development projects are not completed within set timelines. And the research was done on products that only require one outsourcing party. Do you buy your components from multiple sources? You are out of luck.
Time to re-hire that project manager you just fired. Or hire a new one, you know, your choice.
The Bottom Line
The bottom line is: You have the trade show that was supposed to cover you in gold right at the door and your product is lying in shackles. So you have two choices.
The first one is to present your soon-to-be product with images and start taking pre-orders (good luck). I am sure your salespeople will tell you the conversion rates won’t be exactly exploding with this one.
The second one is to delay the launch and present the product at the next trade show. Somewhere in Nebraska, or wherever the next trade show is.
If only you had a third option… If only you had a technological marvel, able to present your product in a life-like situation, with life-like graphics and all the functionalities of your product. This would be perfect. It would be like having the product there…
Enter Virtual Reality
A VR Experience can mimic reality and offer the users a life-like experience with your product. It allows your client/investor/board member to experience the product like you would have the product at the trade show.
For example, let’s say your company produces electronic roulettes. A user, visiting your trade show booth and trying your VR Experience, would be able to sit at your playing station, interact with the roulette’s display and even spin the roulette wheel. All that while experiencing the product in a casino environment. Hey, look, there is the bar at your left, a new line of slot machines to your right and the restaurant just behind you.
Another advantage of running a VR Experience at your trade show booth is that nothing can really go wrong with the presentation. Because the Roulette does not exist in reality, it cannot break down.
Imagine Steve Jobs’ presentation of the first iPhone without having to switch from phone to phone in fear of a major glitch.
Will this bankrupt my company?
If done right, VR Marketing will actually improve your company’s sales. Because a VR Experience is a fun, interactive presentation of your product, it actually improves brand recognition, conversion rates, and customer loyalty.
So your salespeople will have a better chance of selling your products, which will lead to bigger bonuses, which will make them even happier. And happy people sell. A lot. Unless they are not that good. But then at least you save money on bonuses.
Here is a quick ROI Calculator that you can use to see if a VR Experience is a financially sound investment for your company. We promise we did not program this to only show positive results. Pinky swear.
P.S. Please do not fire any project manager because of us. Thank you.