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July 21, 2016
Virtual Reality Emerges as a Real Sales Tool
Liz Brohan

For many, virtual reality is seen as having limited use. It’s all about fun and entertainment.  It’s viewed as a device for enhancing video games or watching programs on Hulu.

However, that perception is rapidly changing as businesses discover the power of virtual reality technology in B2B marketing and B2C initiatives to sell goods and services, and fuel revenue growth.

According to Fortune, some 38 companies include virtual reality as a part of their business plans. That is a 375% jump from the eight that did so at this time last year, according to a Reuters analysis of earnings call transcripts.

The building industry is using virtual reality to bring ideas to life.

As part of our B2B marketing strategy work, CBD Marketing most recently helped Whirlpool Corporation introduce virtual reality to its channel partners. During last month’s Pacific Coast Builders Conference (PCBC), virtual reality demonstrated to builders and contractors how to use the technology to better sell homes and appoint multifamily housing units in the future.

Contractors and builders alike saw myriad ways to leverage the technology to sell—from realizing that they may not need to build as many model homes in the future to moving a customer through options that result in upsell and add-ons.

Virtual reality is creating immersive sales experiences.

The building industry is not alone. Transportation, higher education, real estate and hospitality are examples of sectors using virtual reality to better sell vehicles, colleges and destinations via immersive experiences.

ATVs, motorcycles and snowmobiles are all being marketed to consumers without anyone having to step foot outside. Virtual college tours that help prospective students get a feel for life on campus are being discussed among parents and teenagers, creating buzz with a real “cool” factor.

And Cadillac is contemplating converting many of their 925 showrooms into virtual dealerships.

How do you plan to use virtual reality to sell?