In recent months we’ve seen virtual reality (VR) put a stake in the ground as an innovative means of communication for businesses. With PlayStation announcing the release of a VR headset this autumn, and Google likely to announce its Daydream VR viewer product imminently, barely a day goes by where a VR-based development isn’t made.
However, as with many new cutting edge technologies, the media hype often leaves businesses confused as to whether they should be looking to implement new tech within their company or whether it’s just a fashionable fad. In our recent ‘Digital Disruptors’ research, we found that UK businesses are certainly looking at VR seriously. 24% of those questioned are already using VR, and a further 46% will be ready to use it within the next year.
Although what was more astounding, was that whilst these businesses might appear forward thinking with their tech caps firmly on, actually, 36% of businesses in the UK still do not even have a mobile-optimised website or app.
The state of the current customer experience is a clear indicator as to whether a business should invest in a new technology. Any investment made should be one that will improve customer experience, as opposed to making sure you’re on track with the latest trend. Businesses need to be making investments based on what customers need from a brand to have a great experience. For example, a mobile website means that they can engage with your business on the move and as consumers become more mobile this is thought of amongst many people as a given.
Myth busting
It is often the view amongst marketers that digital transformation requires new technology. This is simply not true. A digital transformation process shouldn’t be looked at through a product lens, but rather a customer angle. Marketers must assess which channels their customers use and then they can use the information gleaned to create a unique experience.
If marketers come at transformation from this angle, they will be able to build content that is actually valuable to the customer, which can then be served from different sources. Focusing on the value proposition as opposed to the way it is delivered will ensure long lasting relationships.
Whilst some businesses may well benefit from VR, such as architects allowing clients to visualise their plans, this is not the same for all industries. For example, if 36% of businesses don’t have an app or mobile site, their customers are probably not going to expect a VR offering just yet, so it’s likely a wasted investment.
Ensuring value for money
With 41% of businesses claiming that their biggest concern with VR is the cost, it’s even more important to take a cautious approach. It could well be an expensive mistake if a business was to invest in VR, only to find that it didn’t serve their customers’ needs, nor were there any in-house skills available to maintain the technology within the company.
We find that this is a mistake marketers admit making with other technology too. For example, 53% of marketers admitted that they struggle with marketing automation software past the initial investment. If the skills are not there, all tech becomes an expensive overhead that isn’t able to serve a genuine purpose. It’s crucial that businesses invest in digital training to ensure that they can keep up with their customers’ demands and exceed their expectations.
Collaborate for success
Although marketers are often focused on finding solutions to the challenges they face in customer experience, it is also important to team up with the IT department to take a wider, forward looking approach.
In order to truly understand what customers think of a business, multiple viewpoints are needed. When marketers and IT join forces, a full view of the customer journey can be gained, and a valid assessment as to whether a new technology would enhance it can be made. Of course, the end goal of any digital transformation project is to provide a better service for the customer, and business collaboration will allow for smart investments to be made.
It is clear that digital innovation is vital in order for businesses to survive – 70% of businesses we surveyed agreed with this view. However, whilst keeping up with competitors and driving the business forward are important goals, marketers should be cautious not to jump on the bandwagon with technologies such as VR. If marketers look at all investments from the perspective of improving customer engagement with their brand in the best way possible, they will create an irresistible experience that meets customer needs and the technology will come second.
By Stephen Morgan, co-founder of Squiz
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