Improving ROI with Augmented Reality
November 11, 2022
Augmented reality technology is getting more and more popular among marketers. Though popular, most people don’t clearly understand how to utilize the technology to improve ROI.
First, what is ROI? ROI measures the amount of return on a particular investment based on the cost of investment. In simple words, ROI is the returns you get on the investments you made. So, how is augmented reality improving ROI? Let’s check it out in detail.
Augmented reality can be utilized in various sectors to meet various challenges and to bring an innovative immersive perspective into the picture. Here we are listing some of the most popular areas through which augmented reality drives return on investment.
Augmented reality can bring the wow factor and bring more attention to the brand. Many brands now integrate AR into the marketing efforts to improve engagement time and create meaningful interactions with customers. This improved engagement rate, sales, and customer interaction results in improved key KPIs and ROI.
In Visual Assistance
When AR is integrated into the assistance to provide visual based immersive remote assistance, it improves workforce efficiency and customer and employee satisfaction, which leads to positive ROI and KPIs.
AR makes training more flexible and delivers better outcomes. AR content can be viewed by employees at any time on a smart device. They can view using their own mobile devices and can self-train at their convenient time. The lessons can be repeated till everyone gets thorough knowledge without any additional training costs.
Manufacturing companies that leveraged augmented reality saw a drastic reduction in the training and downtime saving thousands of dollars per employee. An example of this will be PBC Linear achieving an 80% reduction in training time using AR-based training.
Surveys of various enterprise organizations reveal a growing awareness of AR's business value and return on investment. We are already seeing this shift in sales and marketing, manufacturing, medicine and health care, and banking and finance. And we will be seeing more awareness and adoption of AR to improve returns and growth in the coming years.