This introductory course is developed for high level business people (and those on their way) who want a broad understanding of new Information Technologies and understand their potential for business functions (e.g. marketing, supply change management, finance). This is not a course for people looking for guidance on how to become a deep technical expert or implement these technologies. From Blockchain over Artificial Intelligence to Virtual Reality technologies: This course will empower business leaders to embrace the concepts and bring the state of the art information technologies into their organizations to improve client and customer engagement and ultimately the bottom line of their businesses. Instead of digital disruption, the new technologies and management methods will become the foundation of a Digital Transformation journey for better customer relationship management and client satisfaction. The content is structured in a way that promotes discussions on challenges that business management and marketing functions face due to the rise of new technologies such blockchain, cryptocurrencies, internet of things (IoT), virtual, mixed and augmented reality (VR/AR), artificial intelligence (AI) and big data. This course will use case studies to explore frameworks, tools, and strategies that are already proven in the real world and prepare ourselves and our organizations to have the tools needed to succeed in a fast and changing world. This course is not a deep technical curriculum, but based on thousands of hours helping (often C-level) executives to grasp the technologies' potential in their own areas of expertise. This course is available in English.
Succeeding in Marketing and Advertising with VR and AR
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En provenance du cours de Rutgers the State University of New Jersey
New Technologies for Business Leaders
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À partir de la leçon
AUGMENTED, VIRTUAL AND MIXED REALITY
This module discusses Virtual Reality (VR), Augmented Reality (AR) and everything in-between. We will start by identifying changes in the media market and the impact they had on consumers based on the interaction provided. We then will explore technologies and buzzwords, and finally, we will look at examples of how these technologies are used in the real world today and discover clues for leveraging them in our own environments.
Rencontrer les enseignants
Mark Mueller-Eberstein, Dipl. Kfm.Instructor of Professional Practice - Faculty
Rutgers Business School
[MUSIC]
In this section of our virtual reality and AR module,
we will build on our explorations of how VR and
AR technologies are transforming marketing and advertisement, and
we will distill the key insights, trends, and numbers as guidance for you, and
your marketing, and customer engagement strategies of tomorrow.
By the end of this lesson, you should be able to lead a discussion about
the potential, the key strategies, the challenges,
and how to overcome those challenges to many organizations and scenarios.
Summarizing what we have heard so far,
it is clear the customer drives today's marketing landscape.
In fact, more than 50% of organizations plan to implement significant
business model changes to improve customer experience by 2018 through VR and AR.
Consumer focus is more important today than ever.
50% of organizations plan to implement significant business
model changes to improve customer experiences by 2018.
Technology plays a key role here.
It comes as no surprise that marketers are tapping into the potential of
virtual reality and augmented reality technology to
close the experience gap that customers and consumers are feeling today.
Early evidence shows that VR and AR can be effective tools for
fostering user engagement, brand exposure, and market awareness.
Based on a Nielsen study, virtual reality received a 17%
higher emotional response than a 360 video, and engaged users for 16% longer.
VR and AR marketing is cutting across industries.
Retail marketers will be a key adopter of this tactic,
and they will transform our shopping experiences in the process.
But also other industries tapping into VR and
AR to enhance their marketing including travel, automobile, and home decor.
As the understanding of VR and AR, and its potential continues to
evolve it is expanding from purely mobile to an in store experience.
We have talked about experiences, product placement, advertisement,
trailers, but what else is out there?
Forward thinking marketers have begun adopting VR and
AR to achieve the following key marketing objectives.
They demonstrate a project attribute and feature, they communicate the brand,
mission, at the point of sales, they provide an immersive branded
entertainment experience, they increase excitement and engagement,
and they add a new dimension to traditional storytelling.
Many believe that VR and AR could prove to be the tipping point for
our industry by providing the opportunity to reset digital advertisement,
which is currently marked by poor, disruptive user experiences.
VR and AR invite the users to enter the brands world and offer highly personalized
experiences that drive engagement with pull rather than push tactics.
When thinking about VR and AR in the shopping and marketing experience,
think about two different scenarios.
The first one is enhancing the current shopping,
advertising, and marketing experiences.
The second though is creating a new shopping advertisement and
marketing experience within the virtual reality and augmented reality worlds.
Let's talk about the opportunities for VR in marketing.
Clearly their are no distractions.
Through the complete immersion, virtual reality transports the users
inside a virtual world, which in effect, no distractions.
The users completely isolated from the real world, enabling
a complete immersion with the content we as marketers create to bring to them.
It also can be very personnel.
Rather than tell the audience about a program,
TV marketers can show them and provide them with a personal and
unique experience that lasts beyond the 30 second trailer.
VR has the fully immersive engagement capability, but
there are challenges on the VR side, accessibility, it requires the use of
a head-mounted display, even if the software is displayed by your smartphone.
So, only a minority of audiences today will be able to experience it.
Creators will need to develop an experience that is relatively accessible
if attempting to target a wide audience, and then there are the costs.
Today, it is still relatively expensive to create a VR experience,
and to experience on the consumer side.
The first wave of the head mounted display device cost between $400 and
$600 today, limiting the use of these higher quality devices.
But again, the smartphones and Google Cardboard VR experiences are much closer
to home for many, many people today.
As we said earlier, augmented reality is the big growing segment that
we will see over the next few years.
It has also a lot of opportunities for marketing.
On the positive side, the costs are less expensive than VR,
and it covers a broad spectrum, from interaction with a large screen,
to viewing something through a smartphone app.
AR is more accessible by audiences in the true VR experiences today,
because a viewer can be easily download on an app, on a mobile device,
and the user can experience the augmented reality right there and then.
It also has a social component.
Users are not isolated, with the real world enabling them to interact with
the real and virtual world simultaneously, allowing physical movement in order to
explore and navigate with the environment, making it more of a social experience.
Creators can utilize this to engage with a wider audience.
AR is a partly immersive engagement capable.
Challenges on the AR side, as audience is only partially immersed,
they can be distracted by the real world, which may effect on their AR experience.
Creatives will need to take this to consideration.
They need to understand the environment in which audiences
will interact with the augmented reality experience, and
saturation in the AR space will also be happening very, very quickly.
As AR implementation is relatively easy,
the market will soon become separated with a variety of AR applications.
Consequently, creatives will need to have authentic our experiences for
audiences that really stand out.
Other challenges that are common to virtual reality are technical issues,
battery life of devices, resolution of the screens, latency of projecting
of these virtual images for the actual users, and then of course we have to
think about security, both physical, as well as in the virtual world.
For storytellers, VR and AR create new local challenges as well.
For creating content, it will be a booming industry, but content for
these VR and AR platforms will be emerging in the markets at its own right.
It's not that easy to navigate an AR or VR story.
In order to leverage the technologies full potential, marketers must partner with
agencies that have specialized experience in this space or
cultivate these capabilities in-house.
When thinking about virtual reality and augmented reality,
the user experience really needs to be first.
So as a marketer you need to understand the user experience you're trying to
create.
Most importantly quality, quality first.
The marketers must resist the urge of creating video cramps, and leverage other
technologies that provide that information to create a better user experience.
Closely work with data scientists and
other technologies to truly understand how your customers interact with AR and
VR, and then incorporate that into your designs of the user experience.
To create first class virtual and augmented reality experiences for
your client and customers, one thing needs to be clear, start with the experience
you want to generate for your users, and ensure it is quality first.
Marketers must resist the urge to create any mediocre apps.
They will be rejected by their customers and consumers, and
use other technologies to fully understand what your customers want.
Together with artificial intelligence and big data, you will be able to not only
understand your group of customers better, but potentially also customize
the experience for the individual users in ways that are barely imaginable today.
As a marketer, when you design your customer's journey, you need to start to
think about integrating virtual reality and augmented reality experience.
VR and AR are a game changer for the marketing environment, but
a one off augmented experience, while it brought positive attitudes toward
the application itself, it did not change the brand or the product perception.
By integrating augmented reality into a customer journey framework,
this marketing tactic has the ability to positively impact the purchasing decision.
Augmented reality shopping will be different.
Will it be shopping on your phone?
One thing is clear, augmented reality will transform online
shopping experiences by trying on accessories, clothes, decorations.
Imagine that you're shopping online for a watch or a bracelet.
You can get a sense for what it looks like around your wrist,
just point your smartphone app at your hand and an augmented reality app will
show you that item superimposed on the camera video.
Amazon, the leading online shopping company,
has some patents that are going directly in that direction.
So one of the things I would like to encourage you, if you're in retail,
see what Amazon is doing.
Augmented reality will transform the online shopping experiences by
trying on new accessories, clothes, and decorations.
Imagine that you are shopping online for a watch or a bracelet.
You want to get a sense for how it looks like around your wrist,?
Just point your smartphone camera at your hand, and
an augmented reality app will show you the item superimposed in the camera's video.
Companies like Amazon and Alibaba, leading in the online space,
are working heavily on realizing those experiences.
So if you want to know what's going on, and what's the next level of online
shopping, I highly recommend you follow those companies, and one more thought, for
the K augmentented and virtual reality experiences, payments.
How can you you customize and
reinvent the payment experience in a virtual or arguments reality world?
By looking at a product long enough, or by pressing a button on a handheld device?
It is clear that mobile transactions continue to grow.
In 2017, we had about $75 billion of online transactions,
by 2020, it will be over $503 billion.
VR and AR will be part of that environment going forward.
They need a safe and seamless payment system, like the leveraging
mobile payments, but also crypto currencies could be an option.
So what is the future of the immersive client and customer engagement?
So what is is the future of the immersive client and customer engagement?
The journey will continue and will continue to deliver more and
more and massive experience.
Can we develop systems that allows us to share what we are seeing,
hearing, and feeling with others?
Imagine the potential.
With the content of this lesson, you have guidance and pointers how to approach
marketing and advertisement in the VR and AR worlds, and to drive engagement
with customers in the virtual worlds all along the spectrum of mixed realities.
This is Mark Mueller-Eberstein.
Can you imagine how these scenarios can change the engagement with
your clients and costumers in the real, and in the purely digital worlds?
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