Augmented Reality (AR) has been empowering creative marketers with innovative marketing campaigns and strategies. The AR platform is demonstrating impressive ROI and trackable user data management.
Augmented reality blends virtual objects into real-world settings creating a more significant impact along with extended memory about the product.
Researchers suggest that almost 90% of companies with revenue of more than $100 million are relying on AR or VR technology for marketing. 10% of small and medium scale industries already leverage AR technology, with about 72% looking forward to adopting AR in the coming year. Marketing and technology leaders are early adopters of this latest trending technology. Experts predict that augmented reality is the “next big thing.” AR is helping marketers to seek better tactics to engage their target audience and boost brand awareness.
AR-based ad campaigns provide a clear value to prospective customers to trigger an action or a behavioral change.
Marketing campaigns must provide meaning brand interaction with clearly visualizing the brand value. Experts have reported that AR experiences lead to dwelling time of over 85 seconds with interaction rates pushed up to 20%. Augmented reality has drastically increased the click-through rates to purchase of 33%. These figures indicate why AR is being used for large installations by big brands.
AR is not just a marketing gimmick but also a psychological tactic to subliminally remove the barrier of fantasy in the mind of a buyer.
Surveys suggest that the likelihood of a successful online sales conversion is about 40% after using AR. With global tech infrastructure growing, the AR industry is expecting to see revenue growth of $120 billion by 2020. Traditional retail stores are likely to see a 22% decrease in customers because they lack the competitive advantage of providing an AR experience. About 63% of customers believe that augmented reality in marketing will add significant value to their shopping experience.
AR integrations have helped businesses reached significant milestones in recent half a decade. Google introduced its version of AR with the launch of Google Glass in 2012, that received a lot of criticism and scepticism because it was a bit ahead of its time. However, the recent adaptation of AR suggests that there has been a paradigm shift. AR enables marketers to create a powerful impression of the brand, differentiating them from their competitors. Marketers find mobile-web AR appealing because of its flexibility, more budget-friendly, a more extensive reach through mobile devices.