Are you ready for the revolution taking place in B2B sales? We’re talking about VR and AR. If you’ve only mildly heard of these two terms, know that you’re missing out on something big.
These two technologies fall within the digital umbrella of something called “immersive tech.” Allow us to de-jargon this bit for you – technologies falling within the immersive domain excessively engage or absorb the viewer. So much so that they become a part of your sales narrative.
How Do VR and AR Work to Engage a B2B Customer?
Often B2B products are complicated enough that it’s hard to understand what they do. No wonder why your target audience struggles to see its value. For instance, how do you sell a SaaS CRM software or an X-ray machine with hundreds of features, and in the latter’s case, moving parts? And, why should your prospect engage with such a far-fetched offering when they don’t entirely understand how it works? This is where VR and AR come to the rescue.
Virtual and augmented reality can take your prospective clients into a make-believe world where they can visually see your product, its features and also manipulate it. Sure, you’ll have to get in a tech team to customize and develop your product’s virtual module, but that is no mean feat anymore. Ultimately the results will be noteworthy as you would bring your product alive for prospects to experience.
And, let’s not underestimate the value of experiential purchasing. It’s already bearing fruit. Experts conclude that the VR and AR market is all set to grow by a whopping US$ 162.71 billion between 2021 and 2025.
Moreover, market B2B biggies like Motorex – an oil giant, IBM, and many others leverage VR and AR to win over clients. Even B2C organizations also operating within the B2B realm realize the benefits of augmented reality in retail shopping. Multinational players like Ikea, Samsung, Ford, and such already use VR and AR tech to ensure potential customers see value in their offerings.
VR and AR are an Effective Sales Solution for Your Brand – Here’s Why
It’s no secret that a human’s visual memory is the strongest and has an exceptional recall value. It’s easy to forget something you read as opposed to something you saw or played with. VR and AR in B2B sales exploit this very quality.
As a matter of fact, a 2020 study by Threekit shows that a thumping 61% of consumers say they prefer retailers who offer AR experiences. The same study also revealed that only 1% of retailers admitted to using it. Imagine the scope of sales you can capitalize on.
If you’re still wondering how VR and AR provide an effective B2B sales solution, read on:
1. Boost Sales TAT or Turn Around Time
With VR and AR tech, you can position your product better. Since instead of words, you present your offering in a real-life environment, you reduce ambiguities that may surround your potential customers’ minds. In essence, they can already see the value they are about to get through your product.
Further, through VR and AR, you can rid them of any grey areas and inch them closer to the original price quoted for bulk orders. Now, since there is barely any to and fro involved and you don’t miss out on any vital product information, a lead comes to a decision quickly, thus boosting your sales turnaround time.
2. Build a Lead’s Confidence in Your Offering
Rather than providing you a rationale here, we’ll let the numbers talk. Research shows that 71% of buyers admit they would shop more frequently if they used AR. Such is the case because VR and AR facilitate transparency. Whether it’s allowing prospects to experience the look and feel of a product or its workings, this technology has nothing to hide, and it cannot lie.
If this is the scenario, then why wouldn’t a prospect feel more confident in a product? Sure, they may still have a few questions for your well-trained sales force, but mainly at a later stage when you’ve already won over their trust.
3. Get a Chance to Kick Up Total Deal Value
The main product you want to sell often comes with auxiliary elements or plug-ins (if it’s a software offering). Showcasing the benefits of these add-ons with the help of VR and AR tech can help prospects discover unexplored possibilities. Perhaps they wanted something your add-on provided but couldn’t visualize how.
Prospects who virtually experience the value of auxiliaries can ultimately churn a higher deal value for you. Doing this the old-fashioned way, which is by pitching your support offerings via email marketing or telecalling, would also work. Use these mediums to invite your customers to experience what a new feature or plug-in can do with the help of VR and AR.
The Bottom Line
The times and tides are changing, and with it is the B2B sales landscape. Don’t miss out on ensuring customer satisfaction by incorporating virtual and augmented reality into your sales cycle. It is already boosting conversions and is touted to continue doing so in the future.
So, jump aboard the VR and AR boat. Know that several of your competitors are already on it.Guest Post
About the Guest Author(s)
Rochelle Williams is a Senior Marketing Manager at Span Global Services. She comes with a strong marketing and advertising industry exposure of over 8+ years and has a deep understanding of SEO, SEM, SMO, branding, and allied marketing strategies.