The industry’s biggest digital ad trade group says that consumers really want to see more and more commercials in which they can immerse themselves in and that too in a right way. This new report from the Interactive Advertising Bureau, which was published on Monday pointed towards the substantial growth potential in the embryonic world of virtual reality advertising, in spite of some marketers’ who concerns that the technology is going to stay in a niche offering. The IAB reached its conclusion via dozens of interviews with the important people of the publishing and advertising industry and even of the software and hardware industry. The IAB’s research also indicated that the digital tech departments which are across Madison Avenue are also taking virtual reality very seriously now.
Anna Bager who is the IAB’s SVP of mobile and video said that Virtual Reality is increasingly becoming more and more important and talks a lot about YOU only! This is a new current Virtual World that is what we have learnt here! Successful VR projects from great publishers like the New York Times or the Vice or the Fox Sports have also paved the way for the great sponsorship opportunities. But there are also opportunities which are beyond conventional advertising for the marketers who are actually willing to think something outside the box like Auto or real-estate showrooms or the travel brochures that come-to-life or the illusionistic e-commerce storefronts.
Offerings like this content that is not necessarily advertising per say, but are often backed by a brand which could further blur the lines between the traditional ads and the consumer media. Branded efforts must particularly be very well-crafted and respectful towards the consumers so as to succeed. A brand that treats the technology like a PR gimmick will take the viewer’s attention for sure are not likely to be capable to build the long term type effective ads.
Publishers are very much interested in Virtual Reality, and the brands are more engaged so that there is a lot of interest around the grand Madison Avenue marketplace, a place which usually meant to be there “actually”.