How will 360 video impact consumer behaviour in the future?

The 360 Video Panel consists of some of the industry’s leading 360 video creatives, working on projects for the world’s biggest brands and organizations. Here they share their thoughts on all things 360 video. Do you have a question for The 360 Video Panel? Send it to hello@virtualrealitymarketing.com.

How will 360 video impact consumer behaviour in the future?

 

 

“Everything we shop can basically be tested in VR”

 

Simon Romanus: 360 video will be the easiest way to really know what you want to buy and how it will fit you in your life. We can try on clothes and see if they fit us, we can furnish a house and walk around and see what we like and not. Everything in our environment can be customized in VR to see if we then want to order it in real life. Everything we shop can basically be tested in VR before the purchase. Everything but food… But you can look at the food and see reviews of people eating it and see closeups of meals and also chefs preparing the food. Everything to make the consumer know that they are buying good things. The disappointment will be less since you already have such good knowledge about the product. Shopping is made both fun and easy with VR!

Simon Romanus runs Wonderworld VR and is an award winning producer that has been developing and producing network format shows across the globe for over 20 years.

 

 

“360 video requires a different mindset in terms of storytelling”

 

Niels Waem: There’ll be a considerable impact. The advertising world will make its shift from video to 360 videos, and that requires an entirely different mindset in terms of storytelling. That is why as a brand you have to get on board now, start experimenting and learn from the mistakes you make. In this digital world, we live in right now we’re such easy target for advertisers to make us buy a product. Adding an experience on top will only increase our shopping behavior and our weakness for advertisement.

When I think of the impact of 360 videos in the future, I also think of commercials during sports. Imagine 360 video ads during the Superbowl while watching live from one of the best seats. That won’t even take 2-3 years to be able to experience this. A present example is the ability to watch the NBA in VR and add product placements in the stadium. Product Placement “within’ a VR experience produces better ad recall, and 70% of the audience thinks these types of advertisement are way less intrusive.

However, at the moment we still have some hurdles to overcome, but we’ll get there.

Niels Waem is a Marketing & Community Manager at VRTL – the premium platform for learning virtual reality storytelling online.

 

 

 

“It will be an extremely formidable marketing tool”

 

Lance Loesberg: From a marketing perspective, it will continue to evolve from all aspects of realism, interactivity and overall engagement. It will assist brands, products and services to inform consumers with heightened comprehension and greater retention of their message to the consumer in a personalized manner while not being obtrusive. In effect, this will provide marketers with an extremely formidable tool to gain consumer confidence and knowledge while even being used to influence decision making. Now that’s powerful!

Lance Loesberg is the founder and CEO of BigLook360 – pioneers and creators with over 20 years experience in producing 360 / VR video and immersive solutions.

 

“Imagine virtually exploring a bazaar on the other side of the world, everything you see can be purchased via a simple interface”

As 360 video emerges into the mainstream, we can expect to see it used as a powerful tool to reach consumers – as a platform for advertising, a way to link consumers to products, and as an entertainment product in its own right.

One area in which 360 video is already performing strongly is in location-based products, giving people the opportunity to experience the sights and sounds of different locations without having to travel. Virtual tours, seeing the sights, exploring a hotel top to bottom before you book – 360 video offers many possibilities. As the tech becomes more mainstream and as 6DOF makes 360 video more immersive and explorable, we’ll see these experiences become more and more common, even standard practice.

By integrating 360 video with ecommerce platforms, we’ll see experiences that are both explorable and shoppable, possibly experiences that blur the lines between advertising and entertainment. Imagine virtually exploring a bazaar on the other side of the world, while a local guides you around the area, telling you stories about the rich history of the space. While you are free to explore, everything you see can be purchased via a simple interface and delivered straight to the shopper’s door. Virtual shopping experiences offer a chance to immerse the audience in the world of the product. We can extrapolate this idea outwards to products that don’t exist yet, perhaps using 360 video as a way to trial products and services as a market research tool, without expensive build costs.

Robin Fuller is Artistic Director at Immersive Studios – an award-winning production studio and one of the pioneers of innovative VR, AR and 360° video experiences.
360 July 7, 2019 by Rick