By Suresh K
Evolution would be the perfect marketing buzzword if there ever were one. As consumers access more sophisticated technologies, traditional marketing tactics are no longer effective. Modern marketers must adjust to the rapidly evolving media and the technological world to appeal to consumers. One development that marketers need to be aware of is augmented reality (AR) technology.
AR integrates the real and virtual world in real-time. The information in video, text, or images is super-imposed over the real world using digital technology. The AR app searches for patterns of images or videos to be displayed over the view from the device camera when a user scans an AR trigger with their device. The AR overlay will move along with the user’s device as they move it, allowing them to view the projected data from various perspectives.
Customers are starting to become exposed to this experience in various ways, even though AR marketing applications are yet at a nascent stage. However, it’s hardly surprising that demand for augmented reality has been rising exponentially, given its enormous interactive and captivating learning potential. It is anticipated that the market for augmented reality is expected to reach $454.73 billion by 2030, indicating a CAGR of 40.7 percent, from a projected value of $14.84 billion in 2020.
Augmented Reality — Changing the way brands connect with customers
Augmented reality (AR) enhances and adds to the user’s existing view of the world by using digital overlays. With augmented reality (AR), brands can turn a static object, like a printed advertisement or magazine cover, into an engaging 3D experience.
For instance, Amazon India on Prime Day introduced a unique interactive game that allowed users to hover within a 360-degree video during the advertisement with the theme “Smartphone Hunt.” The goal was to candidly capture the user's attention and build top-of-mind brand awareness.
Another illustration of this is LG’s introduction of the door-in-door Refrigerator, where the company’s omnichannel strategy assumed a prominent role and embraced an immersive, programmatic, data-driven approach that helped the brand personalise and deliver the advertising experience to audiences at the appropriate time and in the right context, increasing user engagement and performance.
Enhancing customer engagement with marketing 3.0
Marketing today has evolved into an interactive communication gauged by customer participation and sharing. Especially since the attention span of consumers today is waning to 2-3 seconds at max, marketers need to achieve marketing objectives in lesser time and with higher efficacy. In this scenario, businesses that take advantage of Marketing 3.0 – a term used to describe a marketing approach that emphasises the customer as a complete human being with material, emotional, and spiritual demands, will have an advantage since they may sell their goods or services as a part of a larger societal agenda.
In this regard, AR has enabled segments like furniture, automobiles, personal care, and home products, amongst others, to build a connection with their audience and effectively impact the customers’ journey, from awareness to advocacy around the product. AR creates new opportunities for brands through an immersive, interactive environment.
When AR technology is used in marketing, numerous business prospects are created. This technology increases brand loyalty and commitment when creatively applied. With the use of augmented reality (AR), it is possible to interact with customers who can browse prices and product details while holding their smartphones. It gives store owners a platform for creating custom content relating to promotional offers so they can design a whole new customer experience, such as:
● Offering Superior Product Comprehension: Businesses can employ AR technology to produce a 3D impression of their brand or product to give customers an unforgettable AR experience. To engage with clients directly, firms can now develop advertisements in 3D rather than 2D. AR offers superior product comprehension that gives the customer a better idea of how the product fits in their space and if it matches the area’s aesthetic in real-time.
● Establishing Repetitive Engagement: Another benefit of augmented reality technology is repeat engagement. Because it simply involves the creation costs of AR software and other benefits that can be obtained from repeated exposure, establishing recurrent engagement is an efficient advertising strategy for businesses. Customers strongly connect to a company when they see relevant objects in the AR technology version. This ultimately results in a rise in sales.
AR: Shaping the Future of Marketing
Augmented reality marketing has a promising future with other technologies like machine learning and the Internet of Things (IoT). Accurate, visual solutions are provided through augmented reality to boost sales and invent new marketing strategies. Additionally, it can assist forward-thinking brands and stores in delivering consumers specialized experiences that might spur growth. Marketers should grab the opportunity to expand their AR capabilities as soon as possible. This is no longer just hype but a powerful marketing weapon that brands must maneuver.
The author is founder, HelloAR