What is Experiential Marketing and AR Marketing?
Experiential Marketing with AR
The Covid-19 epidemic, which has affected the world in recent years, has undoubtedly changed many of our habits in our lives. This change has caused the new generation technology to play a more active role in our lives. The closure of physical stores as a result of the measures taken due to the epidemic and the fact that the consumer does not prefer to go out even for their basic needs, and the ‘social isolation’ experienced as a result of this is the result of the new generation technology, especially Augmented Reality (AR) and Virtual Reality (VR). It made it possible to enter our lives faster than expected. Manufacturers and retailers, who want to meet the demands of the consumers, have chosen to offer the faith of experiencing their products in the virtual environment by strengthening the online shopping experience. (Click to learn more about try before you buy -TBYB- and learn about the advantages it provides.) Thus, experience marketing adventure with AR and VR is no longer the adventurous venture of the world’s leading brands, and all kinds of manufacturers and retailers aiming to reach their potential buyers can use experiential marketing. became the most important dynamic of his strategy.
The augmented reality market is valued at US$14.7 billion in 2020 and is estimated to reach US$88.4 billion by 2026(1). The main factors driving the growth of the market include the increasing demand for AR devices and applications in the healthcare industry, and the increased demand for AR in the retail and e-commerce sectors due to COVID-. This is also a proof of the advantage it provides in e-commerce in the correct and effective use of AR Marketing strategy.
What is Augmented Reality Marketing?
Augmented Reality Marketing is defined as “a strategic concept that integrates digital information or objects into the subject’s perception of the physical world, often in conjunction with other media, to reveal, express or demonstrate consumer benefits to achieve corporate goals”(2). The advanced marketing strategy aims to take advantage of all the features of modern mobile devices. In this direction, AR Marketing provides potential buyers with the option to try the products before using them through mobile devices, allowing them to obtain more detailed and accurate information about the products. In a sense, thanks to AR, the product is digitally handed over to the consumer before purchasing it. The consumer interacts with the brand before purchasing and decides whether to make the purchase by evaluating his experience. Therefore, although it is defined as AR Marketing in the literature, a virtual experience is actually marketed through AR.
How Experiential Marketing with AR Benefits?
Conversion Rate is a measure of the success achieved by visitors taking the desired action. Conversion rate in e-commerce is measured by how many visitors to the e-commerce site buy the product. Conversion rate is calculated by dividing the number of visitors by the total sales. A high conversion rate in e-commerce indicates that the right products are being marketed to the right target audience. Augmented Reality Marketing is known to increase conversion rates. According to the latest figures shared by Shopify, conversion rates are 250% higher on product pages with Augmented Reality (AR) and 3D product viewing than pages without AR (3).
Increase Propensity to Buy
One of the most important gains of AR Marketing in E-Commerce is undoubtedly increasing the tendency to buy. Consumers, who have the opportunity to try products with AR before purchasing, spend more time in the application to choose the most suitable product for them and can make a purchase decision on their visit. Companies like Houzz that use AR technology state that AR experience leads customers to buy 11 times more and spend 3 times more time on the application (4).
Let Your Customers Experience Your Products with AR
Let your customers experience your products using augmented reality technology with Visetra AR Now. Increase your gains in e-commerce by choosing a plan that suits you best. Visetra carries out the process from the creation of 3D models of your products to their display in e-commerce and offers a digital experience solution to its users.
(Try it now with AR Now)
References
- https://www.marketsandmarkets.com/Market-Reports/augmented-reality-market-82758548.html?gclid=CjwKCAiAqIKNBhAIEiwAu_ZLDmwnkaHItabNdgX4eoM4lJpeBgID04Bvif0pxA2hzqFRttNCscrf5RoCBa8QAvD_BwE
- Effects of mobile augmented reality apps on impulse buying behavior: An investigation in the tourism field
- Çelikkaya, G. (2021, March 1). Sanal gerçekliğin Şafağı: Korona virüs, ar/vr teknolojilerinin ADAPTASYONUNU nasıl Etkiliyor? Webrazzi. https://webrazzi.com/2020/04/19/sanal-gercekligin-safagi-korona-virusu-ar-vr-teknolojilerinin-adaptasyonunu-nasil-etkiliyor/.
- Çelikkaya, G. (2021, March 1). Sanal gerçekliğin Şafağı: Korona virüs, ar/vr teknolojilerinin ADAPTASYONUNU nasıl Etkiliyor? Webrazzi. https://webrazzi.com/2020/04/19/sanal-gercekligin-safagi-korona-virusu-ar-vr-teknolojilerinin-adaptasyonunu-nasil-etkiliyor/.
