Mixed Reality is Taking the Marketing World by Storm

Throughout the time, marketers have tried to combine the offline and online world of the consumers to reduce the time between marketing and an actual buy. It’s time of the virtual world and the experts ask the marketers to waive those age-old techniques and adopt something that would work. In 1990, the US Air Force first emerged with this immersive technology by creating an amalgamation of touch, sight, and sound. Microsoft calls it "the next evolution in human, computer, and environment interaction".

After augmented reality, the mixed reality is the term of the hour. Several brands are using mixed reality and augmented reality as marketing tools to develop a strengthening bond with the customers and boosting the sales number. Since 1994, this term came into being but it was not until the last five years that it gained popularity in the marketing domain to generate user engaging results.

Dissimilar to the customary media channels, the brands are as of now utilizing it to draw in shoppers. By basically crossing over any barrier between the digital and physical universes, a purchaser won't just have the capacity to connect with a brand's ideas. They can likewise turn out to be a part of it, which consequently yields great ROI in the terms of dependability and deals.

It is often termed as the advanced level of augmented reality. In mixed reality, the immersive technology blends the two worlds, viz. virtual and the real one. On a real-time basis, the objects of both the world coexist giving a whole new visual experience to the user. When such a method is adopted by a brand it becomes easier for them to interact with the end consumers.

The role of mixed reality in marketing

The concept of MR is accepted widely and still some marketers remain wide-eyed seeing such an amalgamation. The reasons for the brand adopting MR are as follows:

•    Better customer experience

For any brand, it is extremely important to give their customers the best possible customer’s experience that will attract them towards the brand. As MR offers a comprehensive customer experience, this attraction part is completely taken care of.

•    Enables interactive selling

When the technology is interactive the conversion rates are higher. Sometimes, it becomes difficult for the customers to decide what would be the right choice. They see a product but the visualization part that whether that would match with their expectations remains as the last step of confusion before the buy. Suppose, a furniture becomes the choice of a customer. But sometimes the customers get stuck whether that particular beautiful piece will match with the interior of the room. If the piece is a costly one, then the customer would think 1000 times before the purchase. Here, MR comes into the scene and makes the task of decision making easier. They can avoid reckless buying as they can actually see the whole thing in front of them through MR.

IKEA is one such brand that allows users to place the 3D models of furniture in their specific locations to give a better visual impact. GAP is another brand that has started an app to try out dresses at homes. They can provide their measurements on the app and create the look they want in front of them. The utilization of MR in games to upgrade fan interaction is likewise getting to be mainstream. For example, the NFL and NBA, on account of NextVR fans would now be able to watch sports amusements anytime with an AR encounter.

•    The newest way of storytelling

Being a marketer is more like a storyteller. The more you are skillful at drawing the picture the better you gain chances of enticing your customers for potential leads. Mixed reality gives a new vision to the storytelling and makes the entire journey much more interesting for the buyer.

Helping in getting customer insights

Smart organizations are dependably vigilant for inventive routes in utilizing information further bolstering their good fortune, and MR can possibly be a potential revenue generation way equipped with gaining information in a different way which is substantially more noteworthy than the cost of conveying the arrangement.

This may clarify why more organizations are beginning to consider using MR as a system to increase the store footfall, as well as catch minute bits of knowledge about a consumer behavior which directly reflects over the expanding sales figures.

Going by the trends

A report was published by the BIS Research and as per the findings, the MR market has an estimated reach of $3.68 billion by 2025. The CAGR will be 72% during the time period of 2018-2025. The AR and VR market in India is growing gradually and there is an observation that CAGR of 55.3% can be reached by 2016-2021.

A report published by Deloitte states that in 2018, 90% of the companies whose revenue is between $100 million to $1 billion is using augmented reality or virtual reality. Another report suggested that even 72% of the smaller firms are planning to start using VR by this year.

MR will bring in a new way of communication

MR has the capability of changing the manner in which we convey, by empowering us to utilize our general surroundings as a completely new canvas to learn, impart and intermix. Microsoft's Holoporter is an incredible case of MR innovation that enables clients to see, hear and speak to each other like they do when they are in the same physical space. Taking remote social interaction to the next level of innovation, conferences will turn out to be more gainful, parties will be more successive and long distance relationship will all of a sudden come close just like the everyday thing. Mixed Reality has turned into a popular expression that is on the lips of each groundbreaking innovation master and with such a great amount of publicity around the innovation, it's anything but difficult to perceive any reason why Tim Cook, CEO of Apple has tipped MR for industry mastery.