Read on to discover about:
– The most successful industries in enhancing brand awareness through virtual spaces and extended realities;
– ROI from implementing virtual spaces or XR applications;
– The current state of metaverses.
How can immersive technologies strengthen brand awareness?
A recent client of frog aims to promote a culturally significant location, listed in UNESCO, as a new tourist destination. To captivate younger demographics, Capgemini has developed immersive experiences on Decentraland and Roblox – two gaming platforms also recognized as metaverses. We’ve crafted 3D models of monuments and gamified interactions. For the youth under 25 years old, communication within virtual worlds is second nature. As television viewership wanes, video games and immersive experiences are emerging in its stead.
We’ve discussed tourism and the metaverse’s role in boosting brand awareness. Can you provide positive examples from other industries?
Certainly, there are multiple avenues we explore. The first is customer experience, utilizing augmented reality (AR), which yields impressive results in the fashion and beauty sectors. For instance, there are applications that allow users to virtually try on lipsticks and other makeup products.
Furthermore, immersive tools are frequently employed in industrial automation. Automotive brands promote spaces where customers can personalize their vehicles in virtual reality and test them. Training use cases are also in high demand among our clients. Frog has recently served the energy sector, where costly and hazardous machinery requires operator training. Before handling actual equipment, workers undergo 20 hours of simulation. This method diminishes training expenses and equipment downtime.
Another significant application of immersive technologies is remote assistance. For example, if you’re at a facility with a malfunctioning machine, and I’m an expert thousands of miles away, the traditional solution would be to fly me in, wasting time and money. With virtual assistance, the on-site technician dons reality glasses, allowing me, the expert, to see what they see and guide the repair remotely. This not only saves money and time but also minimizes machine downtime and is more eco-friendly by avoiding air travel.
Lastly, I’d like to highlight the impact of immersive technologies in events and entertainment, as these are sectors where activations can be effortlessly created.
Do you anticipate changes or expansions in the list of leading industries you’ve mentioned over the next three to five years?
Absolutely, and that’s essentially my job. We assist various clients in identifying use cases across as many industries as possible. The Metaverse Lab operates at the convergence of immersive technologies, AI, and blockchain.
Could you elaborate on a couple of emerging industries?
Frankly, there’s widespread interest currently, particularly following the launch of the Apple headset this year. For instance, I recently had a discussion with an insurance client. While the benefits of virtual reality in this sector aren’t immediately apparent to me, they are eager to explore its potential.
We observe a surge in immersive technologies, especially in the B2C sectors, where direct consumer interaction occurs. In furniture retail, the application of AR and VR enables the avoidance of large, costly showrooms, consequently reducing store sizes.
Let’s talk about the return on investment (ROI) from these cutting-edge technologies. Given their high development and implementation costs, do they generate revenue for brands, or are they still primarily experimental, serving as innovative enhancements to brand image?
The response hinges on how you define ROI and measure impact. Consider the automotive industry: customer acquisition costs are substantial. Typically, you’d visit a showroom in a prime location. Conversely, with an application, you could view the desired cars at home using a headset. More Teslas are sold online than in showrooms.
Thus, a paradigm shift is underway. Cost reduction is quantifiable, but gauging brand perception is more challenging. When a furniture brand collaborates with Apple Vision Pro, it begins to be associated with innovation, attracting new customers. Innovative product trial methods in beauty and fashion also serve as effective tools to expand and retain clientele. Direct ROI is currently challenging to forecast in monetary terms, but there are numerous ancillary examples.
Copyright: Capgemini