Virtual Reality: From Future Gimmick to Useful Business Tool

Steinhausen, 16 April 2020. Calydo, an integrated marketing and communications agency, and leading brand consultancy Hotz Brand Consultants are bringing innovative VR technology to the Swiss market.

"We have been involved with business-relevant applications of Virtual Reality for some time. Now, in exclusive cooperation with the British company Future Tech Labs (FTL), a long-standing expert in virtual reality, a market-ready technology is available. It enables real-time interaction in VR, making a whole range of new applications in the business sector possible in a cost-effective way," says Patrick Ensslin, VR specialist and Brand Experience Director at Hotz Brand Consultants. The team is already working on the first pilot projects.

The brand and marketing specialists at Hotz Brand Consultants and Calydo have been working intensively on this discipline of VR and its fields of application for a long time. With the cooperation of FTL, which has also recently taken up residence in the Brand Leadership Building in Steinhausen, Zug, the breakthrough is now imminent. FTL's innovative "Multiverse" technology enables two-way real-time interactions in VR between people and brands for the first time, opening up new fields of application for B2B and B2C businesses.

"There are almost no limits to the imagination," says Patrick Ensslin. "The weaknesses of past VR approaches such as social cut-off, annoying updates, high effort, and a huge adaptation hurdle on the part of users are largely a thing of the past with the Multiverse engine."

"The Multiverse technology enables companies to create immersive and engaging experiences that pay off economically," says FTL CEO San Shepherd. He adds, "Building on existing online web processes and technologies but also buying patterns, Multiverse revolutionises the way businesses interact with customers through VR. We're delighted to be partnering with Calydo and Hotz Brand Consultants. They know how to leverage Multiverse's technical advantages to deliver VR solutions that add real value."

Further boosting the adoption of the new VR technology is the general surge in development in the VR/AR sector. For example, sufficiently powerful headsets have become cheaper and more convenient. The roll-out of 5G networks is also opening up new application scenarios for users that are more mobile, convenient and simple.

From Creating New Customer Experiences to Accelerating Product Development

The business use cases are diverse. FTL's "Multiverse" technology, for example, makes it easy to test and evaluate shop concepts without having to invest in a physical prototype, thus getting solutions to market faster and cheaper. Customer behaviour in these virtual spaces can be analysed and important insights gained into reactions to visitor guidance, product placement and interior design.

For the real estate industry, the benefits of easy-to-use virtual reality are obvious. Bettina Schoch, Managing Director at Calydo explains: "Apartments can already be viewed virtually for some time, but with the new technology, the prospective buyer does not remain alone in the property but can be accompanied by an advisor in VR in real-time. The advisor can talk to the prospect live, answer questions or even show digital information material - which also leads to a significant increase in efficiency on the part of real estate companies."

Another field of application is human resources. For example, job interviews with people at different physical locations can take place live in the same virtual room, which means a significant increase in efficiency and cost savings, especially for international corporations. Applicants can also share and present their documents or presentations in VR. Likewise, onboarding processes or company tours can take place on a completely new level in VR.