5 Reasons Why Companies and Organizations are Committing More to VR for Events

It’s no surprise that companies and organizations are more committed to VR (Virtual Reality) than before. Investors have good reasons to strengthen the VR platform as it can pave the way for events, including concerts, sports, expos, and global conferences.

 

Due to a few recent successes in concerts and conferences, VR is gradually standing out in the cutting-edge tech modules. Outdoor events have been gathering fewer audiences due to the recent pandemic phenomenon, another reason for VR’s rising popularity.

 

Let’s find out five reasons why companies prefer VR events to conventional ones.

How Does VR Work?

First, let us find out how VR works. In simple terms, VR technology needs to replace your natural surroundings with virtual or computer-generated elements. It’s similar to 4D visual. You can walk the path, see around, and enjoy the surroundings. One of the recent immersive activities in the corporate virtual reality realm is Walk the Plank VR Experience. 

VR functionalities involve:

 

• Spatial Audio & Sound: It engages the viewer with a 360-degree sound system to provide a real-time sound experience.
• Frame Rate & Field of View: It deals with the viewer’s sight dimension.
• Head & Position Tracking: It helps the user adjust quickly to the virtual environment.

 

This astonishing technological advancement has been adapted by various virtual-reality-based platforms like gaming, space & military, automotive, etc. Education and healthcare industries are also active in VR these days.

5 Reasons to Commit to VR for Events

Companies are willing to invest in VR more because of the potential demand in commercial events. However, they’re considering the reasons from both financial and audience perspectives.

 

Virtual reality events involve gadgets and tools. However, the viewers’ mental and physical involvement is equally significant in these events.

 

Real-world events bring people closer, so similar enthusiasm and bonding are also required in virtual events.

 

Considering these expectations, the possible reasons behind committing to VR are as follows:

1.  Personalized Experience

Each individual has a unique taste and preference when immersing in a VR event. And event management companies are accommodating this accordingly.

 

The companies realize the essence of a personalized experience. Hence, they promote the same event brochure or ticket to the audience including the scope of a customized VR experience for each viewer.

 

Having this scope makes the entire event more appealing.

2.  Controlled but Live Experience

An event manager or moderator can control the user experience. He can monitor a viewer moving around and going in different directions. One can help the user if he is lost or requires direction.

 

The event moderator can have guided interaction with the user, instructing them how to operate the VR kiosk helping him to experience the event better.

 

It’s also possible to turn leads into audiences through VR control.

3.  Vast Visual Canvas

What could be more lucrative for a business than not needing to invest in a physical space?

 

An organization can utilize VR in events to provide users with massive space without paying for it. Just a VR headset is necessary, and the users are all set to go.

 

The viewers can move through the aisles, check products, listen to speeches, etc.

4.  Beyond Restriction

Numerous restrictions can hamper your plans, whether traveling or participating in an event. Sickness, curfew, lockdown, family restriction, distance, etc., can put your travel plans on hold indefinitely. As a result, the event organizer and the company face substantial losses.

 

The good news is that VR brings the user-friendly advantage of limiting such constraints. Today, a concert or expo enthusiast can visit the show from home without traveling.

 

Thus the organizers can accumulate millions of viewers globally while securing their investments.

5.  Expanded Business

Business turns out better for a company if it can manage ongoing events. Companies can introduce coupons for the viewers who will visit the next show.

 

Such campaigns help reach more viewers. They ensure a higher audience engagement in events, making the business achieve its desired success.

 

VR market is enormous, nearly ten billion dollars worldwide. It is estimated to expand as much as ninety billion dollars by 2027.

Pros and Cons of VR in Events

Tech gadgets are simultaneously bliss and curse, depending on their features, uses, and effects.

 

Similarly, VR in events can also pose a few pros and cons on the viewers’ side.

 

Let’s find out what they are:

Pros:

• Immersiveness

 

A user can engage in the VR world, immersing in the CGI elements all around. It’s easy to be engrossed in the AI voice, lifelike objects, realistic scenarios, etc. while forgetting the natural world for a while.

 

The brand new experience inside the VR world brings joy and enthusiasm to the viewer. The more advanced the VR experience, the deeper a viewer’s realization gets.

 

• Shortened Distance

 

As mentioned earlier, VR events can shorten the global distance in seconds without needing to travel or even move. Users can enjoy a show, concert, trade fair, and other such events from the comfort of their homes.

 

They can also receive virtual education and learning through events without compromising health and safety.

 

• Freedom

 

VR events also give freedom of choice to the users. Some events allow their audience to watch an event on separate dates. Thus, a user can decide which show to attend and schedule the date and time as per suitable event dates.

Cons:

• Costly Headsets

 

VR headsets are costly gadgets that many users can’t avail of yet. Although VR events are fascinating experiences, getting a cutting-edge headset is difficult sometimes.

 

Besides, cheaper headsets have lower features, and the costlier ones provide a richer expereince. Headsets can cost between $20 to $1400.

 

• Tendency to Loneliness

 

A solitary audience will eventually start feeling lonely in a different world. People meet and know each other in real-world events, whereas, in a VR event, a user is always alone.

 

• Illusions

 

A human eye needs only a few moments to pick the odd ones out in the virtual world. Since our brain is accustomed to seeing natural and man-made things, humans, animals, trees, buildings, cars, etc., it’s no surprise that it’ll quickly find artificial objects in VR boring.

 

In short, the illusion of reality breaks very soon.

2 Recent Success Stories of VR for Events

Illustrating a few recent success stories will tell you why companies are fascinated by VR events. Some giant and emerging businesses have found great potential in virtual events to boost their promotional activities.

 

We’re going to share two such events held by XING Events and Ford, of which the response was quite impressive.

 

Let’s check them below:

1.  XING Events at VExCON 2020

XING Events is an event management facilitator who supports event organizers through advanced software. The organization has a vast business network, and they share it with the organizers to reach out to potential business clients before the events.

 

In 2020, XING Events introduced VR tech into their VExCon 2020 trade show. They partnered VRdirect, a commercial virtual reality solution company, to make the event possible. That virtual trade fair was a massive success per the organization’s authority.

 

XING Events used real people to talk and move, keeping 3D models behind them while interacting with the audience. They welcomed the viewers to the trade show and introduced them to the areas and stalls of the fair. According to them, the visitors numbered above a thousand, a 25% higher than in 2019.

 

XING Events mainly worked on the user experience before the virtual event. They wanted to make sure that the audience could watch the virtual trade show up close, vivid, and detailed.

2.  Ford Essence Festival 2020

The giant automobile company Ford Motor couldn’t hold back from the artistry of virtual reality. They organized an interactive and fulfilling experience, Essence Festival 2020, for their customers and enthusiasts virtually.

 

A software engineering company, Bluewater, aided Ford in arranging this huge event which met with a grand success. Ford was forced to cancel the in-person festival due to covid and shifted to VR instead.

 

Bluewater helped create a virtual booth where viewers could check Ford’s brand-new vehicle models. They could explore the vehicles’ interior and exterior designs. Moreover, the attendees were privileged to enjoy Ford’s live and on-demand content on the show.

 

Ford arranged password-protected lounges for owners of Ford vehicles. Users could also take a photo virtually in selected places and download it. Overall, Ford and Bluewater created an event that would last long in the attendees’ minds.

What Next

It must be clear why companies and organizations are committing more to VR for events these days. Increased viewership, secured investments, relaxed restrictions, and interactive experience are major reasons to seek VR tech for events.

 

Business and tech experts relate to virtual events’ beneficial aspects since local and international commuting is getting hectic every other day.

 

VR’s recent successes also encourage large-scale businesses and industries to adapt to this technological advancement. Educational, health and social organizations are coming forward; why not the commercial enterprises?

 

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