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One of the biggest drivers of the new digital economy – the growing thirst for experiences. Simply put, consumers want to partner with brands who take the steps necessary to satisfy this desire.
This trend is only going to intensify as the millennial generation and Gen Z take the reins. According to a study by Harris Group, 72 percent of millennials would rather open their wallets based on experiences rather than on material items.
This is where immersive technologies can make a significant difference as today’s organizations continue jockeying for position to successfully attract their target audience within this ever-evolving market.
The growing experience economy have transitioned from strictly residing in the entertainment industry to impacting any sector where brands directly engage with a consumer. And in a world where every business is actively trying to capture consumer attention, organizations need to find creative ways to stand out from the crowd.
Using a properly planned mix of audiovisual (AV) technologies like high definition LCDs, RFIDs, projection systems, interactive applications and strategically positioned sound systems to create genuinely immersive visual and auditory experiences.
However, simply deploying the technology is only a piece of the puzzle. The real key to success often rests with being able to effectively couple today’s AV technology with outstanding content that seamlessly tells the brand story in a way that not only resonates, but also encourages engagement.
Known as storytelling, this component needs to enable engagement, provide focus and energize the audience.
The ability to present visually captivating content with explosive sound can truly immerse today’s audience. This is especially true when organizations are able to pair the technology with content that (sometimes interactively) draws the guest, audience or customer in. For instance, realistic sounds that seem to come from nowhere paired with an intriguing and engaging multimedia stream.
However, because technology continues to evolve, additional opportunities exist to deliver enhanced sensory experiences. For example, the ongoing maturity of extended reality (XR) technology provides organizations with an interesting avenue to continue expanding the guest experience into new and exciting environments.
The more an organization is able to appeal to the target’s senses, the more memorable the experience will be.
When a company is able to leverage technology to create a truly immersive experience, it serves as a wonderful opportunity to create the type of connections with customers that ultimate lead to loyal relationships.
There are various ways organizations can leverage technology to keep these relationships going. For instance, making social engagement easy, especially in today’s environment where people are very connected with their personal devices playing instrumental roles in their lives.
Simply put, people like to work with companies they relate to and appreciate. The same is true in entertainment venues. The connection is key.
Yiannis Cabolis, Director of Technology Innovation at Electrosonic, shares the inside track on how technology drives innovation. He brings 30 years’ experience monitoring emerging technologies, developing best practices and driving Research and Development to solve challenges and help clients understand how to benefit from the latest engineered technology solutions.