ASU Assistant Professor of Marketing, Kirk Kristofferson, joined Greenlight Insights’ Research Director, Erica Bishaf, to discuss insights from the 2016 Virtual Reality Consumer Adoption Report during the Sept. 8 webinar, Engaging Consumers in the New Experience Economy.
The hour-long discussion focused on tested theoretical frameworks for measuring engagement, payment models, and consumer adoption into everyday life.
Here is a look at the top insights from the webinar.
1. How do consumers factor VR in their everyday lives?
- Consumers don’t yet see an everyday use of VR. Of nine use-cases presented, 55.3 percent saw an everyday use of VR gaming. This could change once consumers are more familiar with different VR content.
- Consumers have a strong positive reaction to VR branded content. Based on Greenlight Insights’ research, 61.7 percent felt more engaged with that brand and 70.8 percent felt the brand is forward-thinking and modern.
2. What type of content engages consumers?
- Consumers are most interested in VR content from entertainment brands with 74.8 percent of consumers saying they were interested. Online gaming was the second more frequent response with 64.4 percent of consumers expressing interest.
- Through his research at ASU, Kirk Kristofferson found that, throughout his experiments, consumers have a stronger response to 360-degree videos than traditional video. “Participants who watched the video in 360-degree exhibited a significantly stronger happiness response and this higher happiness response actually lead to a higher feeling of immersion,” Kristofferson said. These psychological responses can have a great downstream effect for marketers and advertisers, he said.
3. How do consumers want to pay for experiences?
- Consumers expressed the highest interest in purchasing hand-held mobile VR headsets ($20) and untethered mobile VR headsets ($100+) with a combined 65.7 percent of consumers expressed intent to purchase by the end of 2017.
- Consumers preferences for paid VR content models vary considerably, with the most notable being respondents expressing interest in paying for VR games with a one-time purchase.
Join Greenlight Insights with leading analytics software vendors Retinad and CognitiveVR for a special webinar on the state of analytics for virtual reality on Thursday, Oct. 6. The webinar will discuss the importance of analytics and how these measurements can increase ROI. Reserve your spot today for Achieving ROI with Virtual Reality: The Rise of Analytics Solutions.
Learn more about the 2016 Virtual Reality Consumer Adoption Report
