In the last decade, where many believed that small tech companies would be left panting far behind in the wake of large E-Commerce firms, it would appear that quite the opposite is true; For that, we have the advent of virtual reality to thank.
Virtual reality differs from augmented reality in that it provides the user with an entirely new visual environment whilst augmented reality simply adds elements or characters to your existing view. Both are now being employed extensively within the gaming and business sectors, and both are expected to grow by at least 65% within the next four years.
So how can small businesses start utilizing virtual reality to propel themselves forward? For a start, hard-hitting, well-created adverts are now possible and at a considerably lower cost. With VR, small companies can now manufacture ads that are more immersive, realistic, and engaging. For example, the soft drinks manufacturer, Pepsi, recently created a marketing campaign using VR technology: They made bus shelters equipped with VR lenses that had lifelike animals and objects jump out at passers-by in the street. Whilst this project was on the expensive side, smaller companies can take similar approaches by allowing their clients to virtually customize products and services, or setting up physical billboards containing images that shift as users walk by them.
One of its most appealing attributes, however, is VR technology’s potential for employee training. A strong factor for whether or not an employee will be able to perform at a high level within a company is the quality and the quantity of the training provided. With VR, an employee can repeat training simulations as many times as required, without the need for expensive equipment or even requiring a staff trainer to be present.
This is merely the tip of a vast, technological iceberg. The world of VR is set to completely disrupt and overturn the way we perceive small business, and those that capitalize on its potential now are likely to be rewarded in the coming decades.