Virtual Reality: The Future for Entrepreneurs

wandering VR

If you're a keen entrepreneur, chances are you've spent plenty of time thinking about virtual reality. Is it worth investing in? Is it here to stay? How much will it really change the way businesses communicate with their customers?

We believe that every entrepreneur should be using VR to attract customers, market themselves and drive innovation. Read on for three key insights into how VR could help your startup innovate, grow and succeed.

It Attracts Millennials

If you want to sell to millennials, staying on the cutting edge of technology is essential. A startup which utilizes the newest communication channels stands out a mile from those that don't. Research has shown that teens, tweens and millennials are the most interested in VR, particularly in a gaming context. So, if your startup has anything to do with gaming or entertainment, adopting VR is a great way to attract young consumers.

It's the Future

Remember when people thought apps were just a passing fad? Now almost every successful company has one, and it's the same with virtual reality. VR is not just a flash in the pan -- it's a whole new platform that every startup should be using. The total number of active VR users is forecast to reach 171 million by 2018, and if you're not using VR you're missing out on a valuable segment of the market.

VR is not just for gaming companies. Using VR as a marketing and communications tool opens up a world of opportunity for businesses in every sector. Many successful companies are getting creative with VR marketing. Game of Thrones created an interactive 'Climb the Wall' experience to launch their new season, The New York Times uses VR for digital storytelling and TOMS communicate their brand mission using VR.

There are so many possibilities around VR marketing that it's something you need to discuss with your startup advisor.

It's Improving All the Time

Not convinced that VR is worth investing in yet? It's understandable to be wary of a technology that still seems fairly niche, but all that's set to change. A new technology called 'inside-out tracking' is set to make VR much more affordable and accessible to consumers, with no need for external equipment or dedicated VR areas. The quality of VR experiences is also improving all the time, with YouTube's VR video quality update just one example.

While you might not see VR in every home, dedicated VR facilities will be popping up all over the place, offering unique experiences consumers can't get anywhere else. Developments in warehouse-scale VR will create truly interactive experiences, unlike anything consumers have seen before -- think multi-player zombie shooters, survival games and more.

Before long, everyone will be using VR -- make sure your business is ready. If you're not sure how to use VR in your business, we at Escape VR are happy to share our insights with you and show how you can keep on the cutting edge of innovation.