Do advertisers put money into the new relatively cash-starved VR technology? Or do they wait it out and miss an opportunity to get in on VR advertising early?
For those who have seen Steven Spielberg’s 2002 film Minority Report, it may seem that we are 20 years too late in pondering VR’s role in advertising – including the myriad of VR advertising platforms.
- Redbull is a company that may hold the answer. Traditionally investing heavily in “experiential” advertising, it is no wonder that it has been among the first on-boarders for VR advertising campaigns, essentially applying it to its strategy.
Well, we can at least sigh a sigh of relief that the future we were promised by Hollywood is showing a promise of becoming reality – Virtual Reality.
2) Samsung Electronics is another recent successful VR advertising example , offering an unforgettable VR – and even Augmented Reality experience.
We are talking nothing less than walking on the moon in full VR get-up, supported with harnesses to simulate the weightlessness – to align its brand with cutting-edge technology and progress.
3) Volkswagen Group and the VR studio Innoactive got together to create a VR simulation to train 10,000 employees working for different brands within the group. In essence the VR medium is used to showcase the VW brand as an innovator in the field at the cutting edge of (VR) technology
Bucket List Experience: What if you won the lottery?
4) The campaign created by King, Sweden for Lotto uses Virtual Reality to create a 5D-experience in a Stockholm hangar that allows participants lavish and extravagant experiences.
They are treated to some of the world’s most beautiful beaches, experience the best Heli-skiing, and enjoy an African safari, among other things.
5) Virtual Sky is a advertising studio that offers Virtual Reality Advertising, Targeting & Delivery at Scale. It lists the advantages of VR over regular methods as follows:
- Gorgeous immersive ads
- More than viewability. Engulfability
- Forget impressions, start counting customer visits
6) USA Today Network is banking on virtual reality eventually going mainstream – just like its USA Today daily paper. By preparing to go VR, it is betting that advertisers will want in on it.
The Network is launching GET Creative, a studio that will aim to create all types of branded content for advertisers, from sponsored articles to online videos.
USA Today is launching VR Stories
7) Adidas TERREX has embarked on innovating extreme sports marketing with the help of VR.
Their unique VR advertising experience invites you to join TERREX athletes, Ben Rueck and Delany Miller, and experience the world from new heights.
Have a look and judge for yourself, and then after you are done don’t be surprised if you find yourself buying a pair of Adidas TERREX sneakers down the road.
Novelty didn´t kill the cat
According to VirtualRealityMarketing.com co-founder Rick Berglin“VR experiences cost a lot of money to produce.”
Virtual Reality is making inroads into marketing
Offset that with promising VR tech penetration, and entering the VR advertising market it is a no brainer. Some projections put the number of VR headsets sold by 2020 at 82 million – a 1,507% increase from 2017 figures.
“Once we have comfortable, good quality headsets at affordable prices we will see an explosion of quality VR content from brands all over the world,” explains Berglin.
Mihir Shah, co-founder and CEO at Immersv VR Ad Network shared some results:
“360 Ads are performing well through our network. We see a view-through rate north of 75% and a click-through rate north of 15% for these units. 360 Ads represent about 50% of our inventory. The remainder is our Surround Ads, which are 2D video ads in a 360 scene. These also perform exceptionally well.”
Please, show me some ads…
What’s more, according to Virtual Perceptions, UK consumers are much less excited about immersive advertising.
Additionally, US respondents are more interested in VR or AR’s potential over digital ads; 13% of US consumers are intrigued, compared to 7% in the UK.
Companies like Omnivirt are starting to make moves to democratize VR advertising, making it easy for customers to create and Launch 360° VR Ad campaigns.