Business pitches can be a challenge: A plethora of data, strategies and a whole lot of pressure to assure everything runs fluidly. This has been the case for decades; the only time it changed was with the introduction of computer presentations and even then, there was the fear that something would crash.
We are very passionate about protecting experiences (whether that be in the physical sense or not), so much so that we wanted to discuss the concept of using Virtual Reality (VR) in business pitches. We believe VR technology for business can offer effective experiences way beyond its typical uses by consumers (gaming and cinema, for example).
Virtual Reality for Business
Before thinking about how you could make use of VR within your own specific business pitches, it makes sense to address the core purpose of VR for business meetings. The initial benefit is image. Whoever you are pitching to, whether that be an investor, boss or client, delivery and appearance greatly affects the decision making process.
Here’s a good example, using an investor as your audience. In pitches, the investor’s main goal is typically the returns on injected financials. They are investigating the legitimacy and risk of a potential business opportunity. If VR is brought into the room, unpacked from one of our protective VR cases and used to seamlessly deliver a presentation, it can help to portray an image of confidence in your own ideas.
If you are willing to invest your own money on your own business to highlight the inevitable success of your ideas, then the investor will likely acknowledge the risks and efforts taken and do the same. The likelihood of them investing may increase.
Experiencing VR in a pitch
When discussing reports and concepts in a pitch, it can be difficult to precisely convey particular points you are making, especially if some of the points are hypothetical. Language is subjective, so points made can be translated incorrectly by your audience. However, by combining your vocal presentation with a VR experience, you’re able to offer an almost physical description that helps the client to understand your point more clearly. What’s more, it helps to deliver points you may have forgotten to include in a vocal pitch.
This can be particularly useful for creative pitches, or pitches including blueprints and mockups. Not only can the experience be refined, it also allows the user to freely explore concepts in ways it could not be conveyed previously because of the nature of one way communication.
Clients can now dive into particular areas without the restrictions of the individual delivering the pitch moving onto further points. They can see first hand what the pitch is all about, which helps to clear up any confusion that might come about it standard presentations and pitches.
An example application of VR being used in an architectural pitch
Here are some ways in which an integrated VR experience would benefit an architectural business pitch:
- Save resources by using virtual blueprints, where multiple clients can view and access more information
- Clients and customers can explore buildings and areas to truly experience the concept that words couldn’t fully describe
- Allow the users to find their own answers through an interactive presentation , eliminating the need for almost interrogative Q&As
Ultimately, the goal of a pitch is to convert clients. According to Entrepreneur Europe, an average of 10 in 100 pitches are accepted, highlighting a very small chance of business pitch success and building on the argument that pitches and their delivery need to be optimised.
Although it may appear abstract, Virtual Reality offers opportunities for optimised business pitches. Your business could gain a competitive advantage, highlighting just how leveraging technology for business growth can be achieved through Virtual Reality.