2 Reasons why Augmented Reality will be a game changer in Marketing
Imagine how great it will be to virtually see which sunglass is a perfect fit to your face even without going to the shop or mark color and position of the couch to be placed in which direction by simply scanning a catalogue? That is not all; you can even try your favorite lipstick color without applying it physically. For a marketer, the fall in love factor is you can present the entire theme of your marketing vid when users scan the logo. Yes all this is possible by Augmented Reality (AR) which gained its momentum after the Pokémon Go hit the market. Augmented Reality has already started taking over marketing initiatives vehemently in the last couple of years, as AR is capable of enhancing customer experiences, thereby playing a pivotal role in buying decisions.
Marketing using AR/VR has become so exciting and out of the box in such a way that Marriot hotels used VR with a tagline “Get Teleported” wherein Marriot users can get teleported to other Marriot hotels in different locations wearing VR Glass. In the case of AR, you need not wear even the glass for such extravagant views at all!!
AR enhances real environment by overlaying augmented elements like playing a complete intro video on top of an image or exposing the organizations vision and goals over a brand logo through an App in the phone or tablet. Readers who needs to know more about the jargons used like AR, VR and MR may please click the link https://smacarsolutions.com/convergence-of-realities-virtual-augmented-mixed/
With the arrival of AR, digital marketing has evolved into a complete new domain where each and every penny spent on ad is accounted for. Previously we used to have the system of checking with the client on number of calls received or e mail received after publishing the Ad. In fact, the prime reason for implementing the coupon code etc. was to verify the reach of ads especially of Paper ads. Internet and Mobile Association of India and IMRB International have published a report titled “Digital Advertising in India” in which Digital marketing spending is projected to reach INR 7,044 Crore showing a CAGR of 35%.
Breaking down the advert spent in India further will show some interesting facts:
Major spending on Advertising continues to be through TV which accounts for INR 27,074 Crores and after which comes Print Media that accounts for INR 17,674 Crores. Print media is where the focus will be for AR apart from Cinema which has a moderate but a compelling figure of INR510 Crores.
Now, let us see how AR can increase ROI and result in better accountability on money spent for Adverts.
Less Space and More Content at 1/5th of the cost
One of the main reason why SMEs and small retailers feel left out in the advertisement segment is the huge cost involved in competing with corporate adverts. For those who have no clue as to how much it will cost for an Ad in India a comparative pricing chart is presented below (per Sq.cm) in INR
|Place||Inner Page (Base)||Multiple||Front Page||Back Page||Page 3|
Source: Bhaves Advertisers
Say, you are planning to give a front page box ad of 5sq.cm in Mumbai the cost will be INR38,950 and you can assume how much it will cost when going for a Full page (1700 sq.cm) or a Half Page (800 sq.cm) ad which is beyond an ordinary business entity’s reach.
This is where AR can be THE game changer. What is required is one simple marker (Image/Logo) of 1Sq.Cm which can have the luxury of being in the Inner Page (Base) or in Back Page and when the marker is augmented with the company’s brand/promotion or product video. The advantage is ad which would have cost INR 38,950 would cost just INR 5,960 at the maximum!!
The only cost involved apart from the above will be the minuscule cost per scan of the marker.
Analytics at your fingertips
When a normal paper ad or a poster ad is released, it could be possible to assume the reach based on the paper’s circulation in the area which as everyone knows is a ball park figure. If you are a smart marketer, may even add a coupon code to figure out how many people responded to the ad. But, as we all know, many people may have difficulty in recollecting or adding coupon code to the purchases. Collaborating paper ads against the amount spent may not be possible in the above case.
Let us replicate the same scenario using AR. When someone scans the marker in the advert in either newspaper or a poster using the AR app, in built Analytics capability is immediately activated and the marketer gets an in-depth analysis of the user like demography, time etc., which can act as an eye opener with regard to identifying whether the Advert has reached the target client base or which demography embraced the advert more closely etc., All this is possible at NO EXTRA COST at all. This analytics capability will help advertisers in changing the strategy or focus point at any given time. But in a normal Paper or Poster Advert, no strategy can be initiated for future ad campaigns since there is no back up data available to chalk out any plans.
There are some more exciting possibilities in using AR for marketing which we will be only happy to share with you.