Bartek RozbickiBartek RozbickiAugust 27, 2019
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8min1112

When it comes to property and real estate, virtual reality (VR) has a remarkable number of use cases that are set to transform the way brands engage with customers.

But before we dive into the many applications and benefits of VR in the real estate sector, it’s important to understand the technology and how consumers perceive it.

VR is a computer-generated simulation of a 3D environment that you can interact with using special equipment such as a headset and controllers. It sits under the wider extended reality (XR) umbrella, which also includes augmented reality (AR) and mixed reality (MR).

Agency SYZYGY XR recently polled 1,000 consumers in the UK to better understand their mindset, behaviour, and decision-making in relation to VR. Advancements in the underlying technology have brought the cost of consumer VR products down while increasing quality and functionality. When asked: “What are the biggest barriers stopping you from purchasing a VR headset?”,”quality” ranked as the lowest barrier to entry, with just three percent of consumers concerned about the quality of VR products.

Second, consumer behaviour has matured to a point of acceptance and anticipation – in other words, the modern shopper can now envision VR in their daily lives.

According to our research, 72% of consumers believe that VR will become part of their daily routine, just as the smartphone is now. Younger generations are even more bullish. In fact, 81 percent of 16- to 34-year-olds believe that VR will play a ubiquitous role in their daily lives.

Keeping up with change is pivotal, but adoption must be done in such a way that it solves existing problems in the business infrastructure.

The commercial case for VR in real estate

VR is a powerful tool for real estate brands, but most have yet to harness the technology in a meaningful way.

Get this: more than half of all shoppers (53 percent) would be more likely to purchase a product or service if it included a VR experience. While the public holds a positive view of VR, just 26 percent of consumers have taken part in a VR experience when purchasing a product or service.

This gap between consumer demand and brand activation highlights an exciting opportunity: today’s shoppers would be more likely to purchase if advertising included a VR experience. Yet brands either a) aren’t offering VR experiences or b) aren’t delivering VR experiences that provide quality, value and substance. As a property developer or real estate agency, now is the time to act.

Redefining the future of Customer Experience

Over the past decade, pioneers like Amazon have rewritten the rules of business, meaning today’s real estate brands must deliver purpose-driven experiences that are fast, reliable and super-efficient.

Consider this: in 2019, 81 percent of companies expect to compete on the basis of Customer Experience. While competition is high, the rewards are great. In fact, customers who have a very good experience with a brand are 3.5x more likely to repurchase and 5x more likely to recommend that company to family and friends.

In 2018, Danwood S.A., a leading property development company in Europe, approached us with a challenge: “How can we convince potential clients to purchase a premium house that is not yet built and can’t be seen real life?”

Designed by Danish architects, the property development featured luxurious, modern design with a clean look and finish. To capture the essence of the homes, we created software that would take the customer into a virtual house, so they could look, feel and touch.

Tasked with creating a line of premium houses named ‘Vision’, we crafted each home in 3D with astonishing attention to detail and light. The experience, which only requires VR goggles and a sales representative, means that the property line can be shown to customers in any market across Europe.

Vision for tomorrow

For the first time, property viewing has become mobile and agile. This is a bold move that redefines the future of real estate.

With VR, the customer and agent experience full immersion in the house. This technology serves as more than just a compelling visualisation; it actually enhances the selling process, since a salesman can enter the property with the customer and advise or even modify aspects of the home as they journey together.

For an industry that relies heavily on aesthetic appeal to drive marketing and sales, the use of lifelike VR simulations opens up an entirely new window of exploration. With in-store VR headsets, real estate agents can build virtual applications that thrust the customer into a rich, vivid, lifelike home.

For businesses skeptical about the significance of XR, we must learn from history: innovation speaks louder than words.

As the world hurtles towards a more immersive digital ecosystem, the convergence of VR and human behaviour will usher in a new era of discovery, interaction and purchase. 


Simon BrennanSimon BrennanJune 27, 2019
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5min1200

The current conditions for UK high street retailers are far from favourable.

Not only are they battling market pressure and challenges from ecommerce competitors, but also increasing rents and tough trading conditions. To ensure survival, retailers today must keep their finger on the pulse of all the latest technological advancements.

What businesses must remember is that as technology advances, so do customer shopping behaviours and expectations. We are already starting to see more and more businesses implement chatbots, artificial intelligence, and messaging apps to keep up with demand. We are in a time where consumers have never been more vocal on their wants, and this is highlighted with the results of our research.

Our data showed that in order to satisfy customer needs organisations have to offer a variety of channels in which to engage with – 81 percent of respondents demanded this. Consumers not only want choice but also, a seamless, integrated experience across all of them. Taking this one step further, many consumers are wanting Augmented Reality (AR), Virtual Reality (VR) dressing rooms and even drone delivery, to be a possibility.

Termed as “technologies of the future”, large, online and in-store retailers are already reaping the benefits of AR and VR in an attempt to make the customer journey more immersive and engaging. For instance, IKEA, has introduced Amazon’s AR view to help customers visualise how furniture will look in their home before making a purchase.

For customers who prefer ‘ease of use’, these new technologies couldn’t be more perfect as they allow consumers a chance to ‘try’ before they buy. As well as convenience, AR and VR are helping stores to stand apart from the traditional retailer. L’Oreal Paris, for example, guarantees loyal customers with an in-store virtual makeover tool that enables you to try make-up and certain looks before buying. On paper, it has never been so simple for retailers to deliver a more engaging and convenient approach to Customer Experience.

Future sight: VR and AR are changing the way customers interact with brands

However, AR and VR are not the only new inventions transforming the CX landscape. Increasingly, we are seeing chatbots being used as a more convenient way for customers to interact with brands, specifically when they require assistance. In fact, 87 percent of businesses say self-service customer enquiries are a current priority of theirs.

Apart from the obvious benefits like saving businesses money, self-service chatbots are improving CX and satisfaction. It’s fair to say we have all had our share of agonising waits and frustrating calls with agents and can therefore, understand the appeal of having access to instant help and real-time information.

In the age of GDPR and data sensitivity, customers are very particular about who they give their personal data to. With this in mind, retailers must remember to be upfront about who or what they’re speaking to. Giving customers the option to self-serve will only succeed if you’re as transparent as possible.

Ultimately, although traditionally we associate a human touch with CX, retailers that do not adopt the latest technologies and integrate them into the customer offering jeopardise losing the loyalty of existing customers as well as potential new ones.

However, before businesses embark on this digital transformation, they must remember not to run before they can walk. Implementing chatbot technology initially can be just as effective as implementing technologies which are grabbing the headlines, such as AR and VR.

 


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7min1657

Each year, analysts predict trends that will determine the course of the advertising, media, and digital industry in the near future.

Year after year, we see the same predictions about the importance of video content, new approaches to SEO optimisation, growth of mobile internet penetration, and related advertising tools. However, it seems that a lot is going to change in 2019. So let’s take a closer look at the new revolutionary solutions and approaches that are going to shake the market this year.

1. Personalised marketing

Personalisation is a key trend in many business areas. The idea of ​​delivering a personal message to the client, taking into account the characteristics of his or her behaviour, personality, and sociography is not new. However, such an approach becomes a reality thanks to the introduction of artificial intelligence (AI) technology. Even if a person uses hidemyass, it will be still possible to track his online actions.

The love of marketers for digital is largely due to the possibilities of fine-tuning the targeting for advertising, but now more advanced personality recognition mechanisms are being tested. Thus, Amazon uses AI-based solutions that combine user data from various sources, such as transaction archives, trending sales, competitor information, CRM data, and information from social accounts. At the latter point, the machine predicts the desires and capabilities of the user. As a result, a company is able to formulate and prepare a 100 percent personalised offer, which will hardly be refused.

2. Voice services

There are some technologies that burst into our lives suddenly. Voice assistants are one of them. At first, users limited themselves to comic dialogues with smartphones; with time, they began using voice assistants for their intended purpose. Siri, Google Now, Alice, Amazon Alexa, Cortana, and others teach users to use the voice dialogues with the software. Markets are saturated with Voice Search Tools, Amazon Echo, Google Home, and others.

According to NPD Group, by the end of 2019, sales of ‘smart speakers’ will grow by 50 percent, and the market volume will reach $2.7 billion. This technology is in the trend of marketing integration with services and applications for delivering food, calling a cab, searching for the right locations, and other things. Just like vpn services were popular a few years ago, voice assistants are on the peak now.

3. Communication automation & chatbots

According to Gartner, 85 percent of user interactions with companies will occur without human participation by 2020. Nowadays, many companies use chatbots in social networks and instant messengers to simply communicate with their audience. In the future, scripts will become more complex, and the bot will be able to imitate a live seller or manager, saving companies’ resources.

4. Augmented reality (AR)

According to the estimates of the Harvard Business Review, global investments in the development of the AR sector will exceed $ 60 billion by 2020. The research centre MarketsandMarkets states that market growth will exceed 75 percent over the next five years. In 2022, it can reach an estimate of $120 billion.

The largest technology brands have seized upon this promising technology because it is extremely interesting to the end user and does not force it to acquire new products. Everything works on your favourite smartphone. AR is used in education, medicine, and, of course, marketing solutions, especially in a retail segment. The investment volumes are impressive, and we will see a lot of interesting consumer variations using augmented reality in the coming year.

5. 5G

Standards for deploying fifth-generation mobile networks are still in development, but individual elements are being tested by operators around the world. 5G networks will create new opportunities for users, such as the Internet of Things (IoT), as well as broadband media services and real-time communication in areas of natural disasters or mass events.

Final Say

According to many experts, we are now entering the era of digital technology, which will mostly depend on the introduction and development of artificial intelligence (machine learning) and all the consequences associated with it. The incredible development of the digital environment over the past ten years (social media, improved search technologies, the AppStore, and PlayMarket, cybersecurity, streaming video, etc) will not slow down, but go to a new level.

In 2019, marketers will need to prepare for constant experimentation with new technologies. Only a continuous stream of testing new ideas will allow you to be on the success wave.




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