In the recent past, Marketing has evolved from brochures to inbound and now it is moving towards Experiential marketing. Considering the experiential marketing, Augmented Reality and the use of Holographic medium is getting mainstream. Microsoft seems to be doing right with Augmented Reality by introducing HoloLense. Currently, Google and Apple are getting ready for their breakthrough in Augmented Reality. Certainly, Augmented Reality has endless opportunities and possibilities for Marketers to create immersive and experiential Marketing content.
Augmented Reality has taken 48 years to be a potential destructive technology from its invention in Harvard. In the last decade, the democratisation of internet has shifted the market power from the businesses. The internet empowered customers by enabling two-way communications. Similarly, Augmented Reality also has the potential to disrupt the business landscape again. Undoubtedly, it will enable Marketers to interact with the customers in a more innovative way.
How can Augmented Reality shape the Future of Marketing ?
As Jurica Dujmovic says,
Augmented reality will impact multiple markets, ranging from home entertainment to mobile devices. The fridge will interface with AR device. It will show a see-through view of groceries, along with the expiration dates, and the option to “check mark” individual items and add them to your shopping list. That is, without opening the fridge.
Integrating Artificial Intelligence will help develop smarter recommendations. It will ensure the right piece of content is delivered to the right person, at the right time, and in the right format. With the feature like the Holoportation, the brands can provide a highly engaging, personal and immersive customer experience.
Secondly, customers will be able to experience the Ubiquitous Moment of Truth (UMOT). They can able to see the product in the augmented space or in retail store along with the rating and recommendations through their AR device. They can buy the product and share their rating or recommendations at the same instant.
Finally, Augmented Reality devices will enable marketers to collect more meaning full insights about the customer needs and behaviours. These methods will help to understand how consumers might change their decision journeys in future. This will enable the marketers to micro-target and create The Long Tail of customer’s preferences. Marketers can match the demands by tailoring the market offerings, depending upon the needs of the long tail and not just by addressing the demands of the heads. Doing so will enable the Brands to attract far larger and more qualified customers.
For marketers, future is more digital and more closer to the customers. It is not just about the product but about the customer experience created around the product. Remember the Tom cruise’s character in Minority Report where the ads calling out his name, “John Anderton: you could use a Guinness right now”? With the current available real-time advertising and mass personalised add technologies and development in Holographic medium (which Microsoft is working on), this is possible in near future.
Therefore by Augmenting Experiential Marketing, as Margo Georgiadis mentions,
Marketers will be able to – Be there in the moment, Re-imagine storytelling and Measure for growth.
But for now, as Ana Javornik says, “what marketers need to understand about Augmented Reality is rather than thinking of how to overlay as many places as possible with additional virtual content. The key to understanding AR is defining the specific activities where it can create real value for the customers”.