To some people virtual reality still seems like science fiction, but the fact of the matter is, that it is here and it’s just going to grow in popularity. There are many companies investing billions of dollars into the virtual reality industry with Oculus Rift in the lead. What these companies see that many people might not is the applicability of virtually reality to their businesses.
Virtual reality will allow brands to actively engage the target audience in an immersive ways that have never been done before. I predict that Virtual reality will be the next significant medium to advertising and public relations, and I am not alone. Facebook acquired Oculus Rift because they too see the potential.
Virtual reality is just around the corner but there are simplified types of it like what is in the marketplace today. The most basic ways of achieving virtual reality-like effects started Google’s use of phones as a virtual reality screen. Although virtual reality is just an expensive luxury right now, in five to ten years from now it will be much cheaper and as such many people will buy it. Once virtual reality has been adopted into mainstream media, it will be a valuable medium for advertisers to use to engage the target audience. Additionally public relations professionals will be able to expand brand content.
The applications of virtual reality are endless. As I mention in one of my previous post, gamification is currently trending into mainstream education. Once virtual reality is adopted and gamification is applied, education could be revolutionized. Instead of students just learning basic things, they would be applying them in virtual simulations. Right now students go to school to take tests, but virtual reality would offer a completely new way to teach the next generations.
As you may have or may not have noticed, buy buttons have invaded the Internet. Over the last year, many of the most popular social media companies have found ways to add commercial uses to their social platforms. Pinterest, Twitter, Facebook and YouTube have all added buy buttons to their websites and mobile apps. Their hope is that people will begin using their social platforms for purchasing products directly.
A new frontier is emerging, where business is integrated with social media . As a result brands and retailers will need new strategies to reach consumers in this evolving marketplace. For brands that can see the opportunity and merge their social media platforms with commercial use, buy buttons could be the first step to getting ahead of the competition.
So, why exactly do buy buttons have so much potential? The reason is because of an explosively growing ecommerce. Over the last year, the global ecommerce has increased by over 17 percent, and is intended to skyrocket over the next few years. By 2017, ecommerce is expected to be at over $370 billion per year in revenue; it was only $220 billion in 2014.
One significant benefit about buy buttons is the vast amount of data provided by them is easily analyzed to determine the buttons effectiveness and give data driven results. This will change the way marketers and advertisers assess the effectiveness of social media marketing. Spreadsheets can finally have dollar amounts in the “ROI” columns.
After more than six months since Pinterest first added buyable pins, reports have started to prove the effectiveness of these buttons. Early success for Pinterest has lead to an expanding number of products with buyable pins. With ecommerce becoming an exceedingly bigger market, brands who can benefit from using buy buttons on social media to sell products would be foolish not to.
So, why should your brand be using buy buttons? Because if you aren’t, you’re missing the opportunity to have your products reach your target audience directly.