Why Invest in Virtual Reality?

The first question with any purchase is "why?" We get a lot of inquiries about Virtual Reality, how it works, and best practices when investing in VR. Even Forbes has featured location-based VR various times in the past year given the curiosity, growth & interest. Our answer to "why" is below.

Skim first - it's a long answer:

BENEFITS OF VIRTUAL REALITY

1) Experience:  People lose track of time in a VR headset. It is that immersive. Give your customers something they will tell their friends about and want to return to play again.

2) Branding:  adding a VR setup enhances your branding, your look, and your customer’s perception of your business. Virtual Reality is forward thinking and innovative.

3) Various Gaming Options:  not all companies provide countless games like we offer, but most offer at least a handful of games to choose from. This drives the below …

4) Retention Rate:  our retention rate is over 60%. And they typically bring a friend. Customers want to come back and experience games they have played and others that caught their eye.

POINTS TO CONSIDER

1) Your Business Vision:  First and foremost, what are you trying to accomplish? Make sure that your vision for the business aligns with what type of attractions you want to feature for your target customer

2) Foot Traffic:  Second to the above is your foot traffic. VR (like any attraction) will perform better if you have built in traffic. Virtual Reality will help drive more traffic as well but having a solid base will improve performance.

3) Create Room for Social Gathering:  Pending your space, ensure you have a place for people to congregate around your VR setup. Virtual Reality can be a fun social gathering – users like to watch their friends and others play.

4) Space Requirements:  linked to the above, setup your VR attraction intentionally. Place it where people enter. Most VR setups (especially ours) can look very theatrical and attention grabbing. Feature your setup in a prominent location.

WHEN SHOPPING, LOOK AT:

1) Gaming Content & Production:  align with your demo and ensure you have more than 3-4 options. Ideally you will have a portfolio of games to attract various segments of your market.

2) Software:  we get as much interest in our software as we do our entire solution. Why? Because other software platforms for VR are clunky, slow, and are not reliable. Ensure you have a good software solution to run your VR platform on.

3) Upfront Cost & Fees:  we say this a lot, but shop pricing and ensure you are getting the best value for your hardware, software, install, training, and overall support.  

4) Training & Customer Support:  with any piece of tech, it is important to have a reliable customer support staff. Ensure you have a responsive specialist to help with any troubleshooting.  

Virtual Reality is here to stay. Commercial VR is estimated to grow over 700% by 2025. The experience is engaging, immersive, and entertaining and is being applied in multiple verticals with varied content and purpose. Now is a good time to look at some options.

As always, if you have any questions, please reach out to us at contact@privatelabelvr.net.