Virtual Reality in Real EstateApril 8, 2016 9:57 am
Potential Impact On Digital Advertising for the Real Estate Community
Google, Facebook, Microsoft and Samsung are all investing heavily into virtual reality as the next big platform. As a result, there are several groups looking to capitalize on the advertising side. We’ve been following two of these companies closely: Immersv and Outlyer Technologies. Currently, they are focusing on serving ads through virtual reality tech such as Google Cardboard.
The possibilities for VR ads are endless such as 3D, 2D, 360 degree and as straight up virtual reality experiences. So this is where it gets interesting for the real estate marketing world because it is also possible to make these ads interactive for the user. It’s our experience that interactivity generates more qualified leads at a higher rate, all else equal. Outlyer Technologies in particular is working on an ad format where a person can explore ad content by clicking through new spaces. As mentioned in previous blog posts, we’re seeing higher performance metrics in the VR space similar to what Outlyer is focusing on in their ad formats.
So what are some of the possibilities with these new ads types for the real estate marketing world?
- 3D ads could highlight the floorplans
- 360 degree ads couple emphasize the panoramic views a community offers
- VR Ads could give you’re a tour of the community starting with the sense of arrival, amenities, walking trails and more
Beyond all the performance metrics we would expect to see improvements from we also believe potential buyers would be left with a stronger first impression which is much harder to measure quantitatively. In order for us to make this possible, marketing teams are going to need stronger creative format assets and we speculate this to take time given how we have seen real estate technology adopted in the past. However, some exciting developments are being released by Google with their Android operating system to improve the VR, AR and 3D imaging. With all the possibilities it is an exciting time to be following growth of the VR industry, particularly how it will affect the digital advertising platforms.