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5 Business Types That Can Benefit From Virtual Reality

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5 Business Types That Can Benefit From Virtual Reality

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Virtual Reality — no longer merely a fantasy for technology enthusiasts around the globe. VR is still in its infancy stage, but it’s projected to be a billion dollar industry. Now is the time to consider how VR can impact your business model.

Here are 5 business types that can benefit from virtual reality in 360°

    Virtual Reality1. Law

    At first glance many would overlook how virtual reality can be applied to a law practice. VR can be applied both inside and outside of the courtroom. Expert witness testimonies can be re-created in a virtual world, which provides more factual insight and detail into the actual sequence of events. A judge and the jurors can apply this insight at trial when examining the evidence. VR technology decreases the margin of error when the final verdict is reached.

    2. Real Estate

    360° VR naturally has no better practical fit than the real estate industry. Prospective buyers can experience immersive virtual tours of properties and increase the number of homes they view due to geographical restrictions. Realtors benefit from the increased listing exposure and they free up time that would normally be spent giving tours.

    3. Travel

    Travel teleportation has come a long way over the past 2 years. Ski the French Alps, play with gorillas in the African Congo or swim with dolphins from the confinements of an office chair. The dopamine released into the brain while experiencing VR stimulates a reaction to increasing the pleasure which can only come from experiencing the real thing. The travel industry can lure in wanderlust seekers using these micro-experiences to promote tourism.

    4. Marketing

    Marketers of businesses of all sizes are trying to figure out the secret sauce to reaching ROI goals. Many believe that secret sauce may be unlocking the recipe to creating virtual reality content that is equally relevant and entertaining to target audiences. The good news is that marketers are currently sitting on a level playing field. The bad news is that entering the world of VR is a headache inducing and expensive. If successful VR content is achieved, it has a market demand and virality aspect that can be a game changer for a marketing team.

    5. Communications

    Communications providers are not the first industry that comes to mind when considering the impact VR immediately has on the industry, but the future is closer than we think. VR allows for a visually and audibly immersive conversation. It breaks down the barriers of a mobile device and increases cognitive personal connection. The future is bright for communication providers.

    In conclusion, there are many exciting ways to revolutionize your business from a product and marketing perspective. The key is opening up your business to innovation and challenging the status quo. Consider this standard infographic that was converted into a 360° image. The future of your business is now.

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