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3 Ways Augmented Reality is Changing Marketing

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3 Ways Augmented Reality is Changing Marketing


Augmented reality (AR) is raising brand awareness, customer engagement and perceived value.

Although eclipsed by VR among the mainstream audience, the value of AR in marketing is undeniably significant. Leading businesses are already incorporating AR as part of their digital strategy to attract customers and provide them with positive experiences.

The mainstream hype surrounding virtual reality (VR) has, to a certain extent, subdued the popularity of augmented reality (AR). AR in marketing allows businesses to enhance customer experience by overlaying visual information over regular objects. This gives the customer an augmented version of reality, which is more engaging and informative.

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1. Raising Brand Awareness

Having an interesting AR application that gives users a memorable experience helps in creating a buzz for your brand. AR in marketing ensures better online engagement and more shares and likes with your customers, leading to more exposure and increased brand recognition. Creating advertising campaigns powered by AR, which are not only entertaining but also provide value to customers, increases top-of-mind awareness and attracts media coverage. Pepsi’s augmented reality ad in a London bus stop is an early example of how the technology can be used by established brands to stay competitive. The effectiveness of AR as a marketing tool had been proven much before when fashion retailer Moosejaw launched an AR app, powered by X-ray, to view its print catalogues. The app got over 250,000 downloads and sales increased by 37% due to the initiative.

2. Improving Customer engagement

Although online shopping has seen rapid growth in recent years, offline, in-store shopping is still considered as a more reliable way of buying things. This is especially true when people want to make a long-term investment such as buying home furniture or getting renovations done. Leading brands like IKEA have used AR to enable customers to gauge how well the company’s product fits in their homes. IKEA Place, which is IKEA’s AR app, uses the customer’s smartphone camera to display how a selected item of furniture would fit in the customer’s residence. The app not only makes it easier for customers to determine what furniture is right for their home but also provides a fun way of experimenting. Other global brands like Coca-Cola and Nippon Paints have also used AR-enabled marketing strategies, resulting in increased social interaction and engagement.

3. Boosting Perceived Value

Using AR to provide customers with interesting experiences and services allows brands to present themselves as innovative leaders in their industry. It also leads customers into valuing a brand’s products more than its peers. In a recent study, 40% of respondents were willing to pay more for a product that could be experienced through augmented reality. This shows a direct causal relationship between the use of AR and perceived value. The same study also reported that 61% of shoppers would prefer shopping at stores offering AR over stores that do not. Brands are increasingly realizing the value of AR in boosting perception and are developing ways to integrate AR into their marketing and customer service channels.

It could be argued that 2022 is the year of AR, and that the application of the technology will only increase henceforth. This should serve as a wake-up call for businesses who have not yet contemplated the use of this technology in their marketing campaigns.



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TECHNOLOGY

Machine Learning, Artificial Intelligence and Blockchain are Revolutionizing the Legal Industry

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Machine Learning, Artificial Intelligence and Blockchain are Revolutionizing the Legal Industry


Machine Learning, Artificial Intelligence and Blockchain are Revolutionizing the Legal Industry

Blockchain, machine learning, and artificial intelligence are revolutionizing the legal industry.

Digital transformation in the legal industry has been slow, but as benefits are becoming more obvious, legal firms are adopting digital technologies to improve their services.

Since privacy is of utmost importance in this field, the use of technology has not yet extensively pervaded, due to gradual and cautious implementation. However, digitization, although initially slow to catch on in the legal industry, is seeing a steady increase in its adoption. The digital transformation in the legal industry is already proving to be highly beneficial and is promising even greater benefits once fully realized. Digital technology promises not only smoother legal processes for clients and lawyers, but also improved decision-making for judges and lawmakers.

A Digital Revolution in the Legal Industry

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1. Saving Time on Research

A majority of a lawyer’s time, while working on a case, is scouring through pages of data to find relevant information. Although the right information is necessary for succeeding in trials, spending hours just to find a line of supporting evidence or law can be highly wasteful for lawyers and legal firms, as they can be better spent preparing for cases. Digitization in the legal industry has led to the introduction of technologies like AI and machine learning, which excel at scrutinizing massive amounts of data at high speeds. Machine learning, which can be trained to make sense of unstructured data such as text from various online and offline sources, can help lawyers and paralegals find key facts and information from legal texts and historical data. Machine learning is transforming legal services by saving time and manual effort for lawyers, which can be invested in more vital activities.

2. Settling Trivial Cases Without Trial

Digitization can minimize the need for trials in minor non-criminal cases, such as vehicle parking tickets. Applications have been developed using technologies like AI to help civilians contest parking tickets by determining whether the parking infraction is justified or not. This application has not only saved time and money for people but has also minimized the workload on legal courts, which can spend more time contemplating challenging cases that have grave consequences. AI can also be potentially applied in chatbots that provide people legal advice on simple and straightforward matters and can also guide them through legal processes. Use of AI chatbots in clearing basic customer queries can free up more time for law professionals working in legal firms and enable law firms to utilize their skills in more productive activities.

3. Avoiding Unnecessary Trials

The digital technology that can have the greatest impact on the legal industry is blockchain. Blockchain’s ability to record information in an immutable, highly reliable manner can help legal processes and in many cases can also eliminate the need for litigation. This can be especially helpful in preventing cases involving finance and asset management. Blockchain can not only be used to record financial transactions but also to maintain ownership records for various assets such as real estate. Having a transparent and secure database of transactions and asset ownership eliminates the possibility of illegal transfer and accumulation of wealth, preventing financial crimes. Blockchain’s ability to execute smart contracts can also be highly valuable for the legal industry, as it ensures that there is no room for foul play and non-compliance.

The digital transformation in the legal industry, especially through technology like blockchain can potentially bring about revolutionary changes in the field. All stakeholders in the legal industry such as civilians, law professionals and firms, and judicial bodies should actively embrace and be a part of this change, as it can make life much better for everyone. 

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