In the last year, it became obvious that Virtual Reality is the perfect advertising medium for companies, who sell large and/or pricey products. Some industries have benefitted more than others, but one of the biggest winners could well be the Casino & Gaming industry. In the next few paragraphs, we will take a quick look at how we can use Virtual Reality to improve our sales in this important industry.
Benefits of using Virtual Reality as a marketing tool in the Gaming & Casino industry
More leads generated from live events
Expos, Exhibitions, Trade Shows are an extremely important part of the marketing & sales process in the gaming industry. The companies get to showcase their work and present new products and solutions for their clients. Obviously, the goal is to meet new potential clients and impress them. Since each lead could mean a potential million dollar business, the importance of a great presentation cannot be overstated. This is where Virtual Reality really shines. According to statistics, VR Experiences generate 29-33% additional leads from live events, helps with conversion rates and wows the clients. A triple win.
Easily explained value propositions through VR experiences because people use the product
Virtual Reality can also act as an explainer medium. The product works exactly the same in the virtual environment as it does in reality. The users can use the virtual product and see how it would work in reality. Pretty awesome if you have a unique value proposition that can be easily explained by using the product.
Increased brand awareness and improved brand image
According to the research, done by YuMe, the clients are 27% more emotionally invested in the product if they experience it through a Virtual Reality application. The clients are also more focused on the product and the focus lasts longer. That creates a strong emotional connection between the brand and the client and improves client loyalty. And isn’t a loyal client the best thing that can happen to a company?
increased media coverage
With all the hype around Virtual Reality, the media are quick to film any VR activities and projects. That gives you free promotion through media coverage and an increased exposure in the media.
How to promote a gaming & casino business with virtual reality
VR experiences of the product
A VR Experience is the most interactive and immersive content we can currently produce. It allows the user to experience the product in a virtual world, it tells the company’s story and it allows the user to fall in love with the product and the brand. It is the most expensive of the VR content but also guarantees the best return on investment (ROI).
VR video from trade shows
Want to capture the action around your products at trade fairs? Why not use a VR camera and film a 360-degree VR video? A VR video has 41% better conversion rate in comparison to standard video, so it will drive more traffic to your website and get you more recognition.
Software developers can develop VR games
Casino game developers should start thinking about VR content for casinos. Since Virtual Reality is more engaging in comparison to a 2d screen, it makes sense that games should be in VR as this would get far more profit for the casinos in the long run.
Live casino providers can provide live VR casinos
One of the biggest innovative solutions for gaming & casinos industry will be live VR casinos. We already know live casinos that stream video from a live location, but Virtual Reality can raise the feature to the next level! Want to expand your casino? Simply add a virtual room where the user can walk, bet on the roulette, play blackjack, order a drink at a bar… the possibilities are endless.
Return on Investment ( ROI ) of VR advertising
All that is fine and well, but what about finances?
A cost of an entry level VR experience is around $10.000. Let’s say you run a high-end roulette business and you want to take things further and spend $30.000 on a high-quality VR experience.
High-Quality VR Experience can generate up to 400% return on investment ( ROI )!
Roulettes can sell anywhere from $80.000 – $150.000. Even when you subtract the cost of marketing, r&d, sellers, you are still left with a nice, healthy margin. For the sake of this algorithm, let’s say the margin is only $20,000. On a trade show, you get 3 additional inquires because of VR and you only close a small casino owner, that buys two roulette stations. That gives you a profit of $40.000 and you have already covered the cost of the VR experience and profited from it, but you can still use the same VR experience for the next two trade shows. If you repeat the same for the next two trade shows, you get 90.000 net profit and a 300% Return on Investment.
Interested in a custom VR Experience? Give us a call at +386 40/216388 or contact us at firstname.lastname@example.org