VR in Business: Don't Have a Budget for Virtual Reality?

April 11, 2016

When we talk to architects and interior designers, real estate management and construction companies about virtual reality, the most common response we hear is "I don't need it."

Why?

They don't want to pay for a toy. Their website is all they need to attract new clients. They can visualize their spaces perfectly on paper.

This is all true. And it's fine, for now. But whether or not you adopt this new technology now, your neighbors will. Would you rather be first or last?

A BRIEF EXAMPLE

Before introducing virtual reality into their firm, one of our clients calculated that it cost them $1400 to acquire a new customer. That's not petty cash.

Though it's still early days for virtual reality in their firm, they've told us when they do showcase it to prospective clients, it's the star of the show. As an example, they cite a recent event to which they brought a VR headset loaded with a few sample spaces. They calculated that interest in the goggles generated over 200 new leads in the space of a few hours - yet what they've spent (in total!) on virtual reality so far is nowhere near $1400. Worth it? Yeah.

THE REAL VALUE OF VIRTUAL REALITY

Sure, it takes a little initial investment, but you've got to spend a little to make a little. Using VR in business means you can attract more clients to do further business with in the future. Those who say they don't have a budget for virtual reality don't understand that virtual reality in business is a marketing tool and a sales tool. A decade ago, you might have questioned the necessity of investing in a website for your firm. Would you question that now?

Virtual Reality is a novelty - but it's not a toy. It's a serious business investment, and it's something you won't fully realize the benefits of until you try it. The good news is, you can do that for free. :)

Author


Rachel Chan

Rachel Chan

Rachel is a writer for Yulio, covering all things VR. With a keen interest in creativity and innovation, Rachel enjoys seeing how businesses use VR in their workflow, and how they have been transformed by it.