The modern world is digital and the new buzzword is AR, it has already become big in many industries, from healthcare to education it has revolutionized businesses.
Now that many within the marketing industry are adopting AR into their strategies, it is now here to change the way the advertising market functions. AR marketing brings with it a lot of benefits, for instance, it allows for a higher level of interaction and interest from consumers, it is a new and different way in which brands can reach their audience.
Several companies are already working with this cutting-edge technology, realizing the many benefits working with augmented reality provides. The augmented reality market size is growing fast and will not slow down any time soon. AR ads have been used mostly by early adopters until now, they are increasingly becoming more popular worldwide. According to Statisca forecast the AR market size world will increase from around 3.5 billion in 2017 to more than 198 billion in 2025
The future of advertising is AR
Augmented reality is currently one of the industries that is growing the fastest worldwide, as it continually proves highly effective for business. AR allows for ads to be immersive, which leads to the creation of an emotional connection with the audience. Ads like this are more powerful in making consumers feel engaged, and it encourages them to make a purchase. It also makes it easier for customers to create brand loyalty which, consequently leads to brand awareness. This is why brands are quickly adopting this new way of communicating and reaching their audience.
AR advertising has many other benefits. For traditional print ads, AR comes with the advantage of creating a bridge between physical and digital and allow the print to be "clicked". What an advantage when you think about making an engaging ad!
A connection with the customers bound to an immersive experience, will be retained in their mind as an experience they really lived. For this reason, it's not an ad you see but an ad you live on!
With this business opportunity in mind, Minsar Studio aims to provide an easy solution for creative agencies that want to jump on it! No-code required that's the secret 🤫 It's the fastest and easiest way to access this technology to create ads and content for other marketing purposes
Advertisers are looking on how to use augmented reality in order to drive marketing, attract new customers and keep existing ones. In order to do this they have to develop in-depth knowledge on their target audience; who they are, what they are looking for, what they need and why. These details lead to understanding on how customers browse online and their habits and triggers for buying.
AR helps boosts sales
AR ads not only promote products or services but it also has other ways for marketing and advertisers to increase their sales. AR has become a shopping tool that helps consumers visualize the products on themselves and gives them the confidence of making an informed decision.
It also echoes with the needs of brands and retailers, since it helps demonstrate the products they created in their full scale in 3D as opposed to 2D. Consumers can do virtual try-on with clothing, shoes, jewelry, and more. Elements like this expand AR ads' power helping drive sales and increase revenue, by being able to visualize products it remotely brings back an amplified value to shopping. The adaptation happening towards AR shopping will probably translate into a shift bringing in GenZ shoppers that will increase its exposure and eventually offer a wider range of products than the ones available now.
Since the beginning of 2020 when business started adopting this new tools we have seen a boom, here are stats that show how AR pays off with a strong return on investment
- A Harris Poll survey on behalf of Threekit conducted in September 2020 reports that 60 percent of U.S. adult respondents who shop online are more likely to buy products shown in 3D or AR. (Mike Boland, 2021)
- According to reports by Reydar AR experiences are 200% more engaging as they deliver double the levels of engagement compared to their non-AR equivalent. (Source: Mindshare)
- Hubspot reports that 75 percent of shoppers expect AR experiences from retailers. (Mike Boland, 2021)
- In a survey from IoT software company Arm, 58 percent of consumers say they’re extremely or very likely to buy AR devices designed for everyday use such as shopping. The figure shoots up to 79 percent for respondents aged 16-24. (Mike Boland, 2021)
Last December, during last Virtuality show, Edmond Maurin (Head of Sales at Minsar) made a keynote speech at Microsoft auditorium about how to turn AR and VR into a business opportunity.
Increased exposure and visibility
AR is creating growth for brands, engaging their customers in experiences that they actually want to spend time in. AR helps elevate storytelling and interaction with customers that increase their growth not only in sales but in the audience and the brand itself. The only way to connect with consumers is to give them something that they resonate with, and it has become increasingly harder to do so since consumers are getting pickier towards the content they want. Since AR is still considered a novelty (which will very soon change) adopting AR into your marketing purposes already helps you get further with your exposure. However soon enough this won’t be the case and it will be imperative to come up with the best content that your consumers can enjoy. This is why it is important to start experimenting with AR to see what works.
This is a medium that customers love to spend time on and where you can inform them about more things like products, services, and your business. By providing essential information you are creating trust with your audience and it will encourage them to take a step further with you by having a genuine and personal interaction with your brand.
The most enticing thing about working with AR ads is that they are reachable and sharable, with WebAR you can have your content available on billions of smartphones. It has great potential of reach and it is very easy to share, allowing you to inform and influence in a more efficient way and keep yourself retained in customer's minds.
- Accenture reports that 50 percent of consumers have better brand recall through immersive ads, and 47 percent say they feel more connected to products. (Mike Boland, 2021)
- AR received 45% higher engagement than TV (Source: Mindshare)
If you haven't yet, get your business ready.. What are you waiting for?
If you haven't yet, it is important to that start adopting these new technologies and creating a AR campaigns. This is positioning businesses as innovators, before every industry has AR campaigns others would be seen as the first and looked at as early adopters. Depending on the type of campaign, it could be less expensive than normal print ads and it has more reach than a traditional campaign. This allows for consumers to embrace a sense of loyalty to the brand.
AR is a very powerful technology that offers a lot of possibilities for brands, creatives, agencies amongst many other businesses and industries. Adopters of this continually evolving technology can open new doors and help you learn more in-depth about your audience, the field you are in and it expands your skills and knowledge. Once adapted and with a better understanding of the possibilities you can gain a new perspective of how to further implement AR for marketing purposes in many different kinds of creation if it's in 3D, videos, or pictures.
64% of marketers are already using or expecting to use AR and VR in the near future (Source: The Drum)
Many businesses have not only adopted this new medium but mixed and combined it to create their culture and to transmit a meaningful message. We recently partnered with Kymono and Les Napoleons, an agency and a community of innovators that share the common belief in creating a strong culture in their businesses. Adopting new technologies and uses in order to facilitate access to create a brand culture and engage their audience to do new things. By combining innovation, sharing, collaboration, and generosity they aim to benefit and help humankind in the search for the progress of humanity.
It is clear that the adoption and mixing of powerful technologies, a company's mission and vision can have incredible results. Not results that only benefit in terms of sales, but in terms of the times we are living in, sharing and expanding a message of growth not just for their business but also as human beings.
You might be interested in learning more about AR business opportunities...
Take a look at our inspiring interview Part of Minsar Special Event - Let's take a creative journey. The power of innovation partnerships to create business opportunities with Kymono founder Olivier Ramel and Les Napoleons co-founders Mondher Abdennadher and Olivier Moulierac
Be sure to try Minsar Studio in VR to immersive yourself into your creation in AR and VR now!
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