MediAvataar's News Desk
Imagine that you have an important event next month that requires a new outfit. However, the thought of getting in your car to drive to a local department store and fighting the crowds while you shop sounds less than appealing. Imagine instead, slipping on a sleek headset in the comfort of your home and visiting the store virtually. You could browse their clothing selection, try on any garment in this virtual environment, and then order your outfit of choice for home delivery.
While this dream scenario is not quite yet a reality, examples of virtual reality (VR) and augmented reality (AR), which enable these future scenarios, are very real and all around us. Consumers today are utilizing VR and AR more than they may even realize: from using their mobile phones to take selfies with creative filters over their faces to playing games like Pokémon GO that, as we saw, captivated kids of all ages, making play part of the everyday environment and allowing players to catch Pokémon (and each other). Consumers also can watch VR video that enables them to view worlds—real or imagined—in every direction or even view their favorite sports game or concert series in virtual reality from their living room couch.
AR and VR usage is on the rise. According to eMarketer, there will be 36.9 million users of VR in 2018. That number is expected to increase 70 percent in two short years. AR will have 51.2 million users in 2018 with an expected increase of 32 percent by 2020. The base of enabled devices will also continue to grow, which will help drive usage in a positive trajectory. For example, the global installed base of ARCore (Android) and ARKit (iOS) is 1.8 billion this year and expected to reach over 4 billion in 2020. (Source: ARTillery, ARCore and ARkit: Accelerating Mobile AR, Sept 2017).
As a result of increased usage and the potential of these technologies, many industries are starting to explore AR/VR use cases—including the advertising industry as a way for marketers to tell engaging stories that create meaningful interactions with consumers.
However, as this space is still relatively new, there needs to be further education to help foster increased interest and investment in AR/VR. To that end, we were happy to partner with IAB to create a glossary of AR and VR terminology. The goal of this glossary is to ensure that publishers, agencies, and advertisers are on the same page as they start to explore opportunities with these formats and ensure industry-wide consistency and confidence. The glossary identifies and defines the different types of AR/VR, the necessary equipment needed to create these experiences, terms that help describe the experience, and the metrics that are being utilized to measure these ad formats.
Benefits for AR/VR Marketing
Overall, the immersive and interactive nature of AR/VR provides an unprecedented opportunity for audience engagement. However, while we have been referring to AR and VR together, the two technologies are separate and provide different benefits to brands.
As this glossary helps delineate, augmented reality refers to an experience that utilizes a camera to take the brand and place it in the user’s existing world. It’s entirely dependent on the physical environment surrounding the consumer. AR advertising allows for the near-seamless integration of other advertising channels into an interactive ad campaign and allows for the transformation of previously non-interactive media (video, print, or even the presence of a branded product) into highly interactive media through AR activations.
While they have their differences, AR and VR both provide superior strategies for marketers to tell stories that capture the entirety of a user’s attention and invoke natural exploratory curiosity. Virtual reality is independent of user context and replaces the real world in its entirety. VR advertising allows the user to be completely immersed into an environment of the marketer’s choice, which instantly commands the total attention of the end user and allows marketers to craft incredibly compelling VR experiences. VR offers opportunities for advertisers to connect with their audience in a visceral way that traditional channels cannot achieve.
Challenges for AR/VR Marketing
As with any nascent space, there are obstacles to overcome such as:
Feasibility: Brands often do not know what assets they will need to enable AR/VR ads and how difficult it will be to create these units. Further education will help overcome this particular challenge.
Scale: Deeply immersive AR and VR experiences—beyond what exists via common iOS and Android smartphone technologies—requires hardware, like advanced headsets, that are currently in an adoption phase. Most AR executions on mobile, for instance, leverage common device APIs and in-app SDKs that activate the user’s camera. While use of these mobile-based AR experiences is growing, it’s still early days in terms of scaled monetization and easy execution by brands.
ROI & Measurement: As referenced in the measurement section of the glossary, there is no standardized reporting for AR/VR advertising efforts today and it can be challenging to know what success looks like. For example, comparing a “digital video cost-per-view” to a “VR cost-per-view” is not an apples-to-apples comparison. VR views are fully immersive compared to the 50 percent in screen standard for digital video and “watch time” in VR is generally much longer than two-second standard length for digital video.
The future of AR/VR marketing
While we acknowledge these challenges, we remain extremely optimistic about the growth of these formats in the future and the benefits that AR/VR will provide advertisers. In the coming years, as headsets decrease in price, we’ll see greater user adoption with emergence of apps that contain wide varieties of truly fantastic AR/VR content. As a result, scale will increase as marketers become more comfortable with these emerging media forms.
Once that happens, we expect innovation to abound. For VR, a big opportunity is moving what is currently a largely solitary content experience towards a socially connected experience. Today there are constraints on creating avatars that can represent a person in real time, but this will be an exciting space to watch as those limitations fall away. For AR, we expect the real world to be fundamentally connected by an internet of things so the environment we move through becomes an operating system. For example, a consumer will be able to look at their nightstand through their phone to automatically trigger an alarm app and see their calendar for the next day.
As this space continues to evolve, we’ll work with IAB to help foster the growth of augmented and virtual reality advertising by providing updates to the glossary, creating best practices, and—in the near future—increased standardization for measurement.
Written By Agatha Bochenek, Paul DeGrote and Marie Sornin
BFSI and Retail are Likely to Emerge as the Key Verticals for the Growth of India Interactive Kiosk Market
6Wresearch has recently published a new report titled "India Interactive Kiosk Market (2018-2024)" report provide in-depth analysis with 52 figures and 19 tables covered in 114 pages. The report thoroughly covers the Interactive Kiosk market by verticals, applications, components, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities, high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
India has witnessed higher consumer acceptance for interactive kiosk solutions among several applications over the past few years. This adoption was majorly driven by Tier I and Tier II cities which witnessed greater number of installation of passbook printers, cash deposit machines (CDM's) as well as several retail interactive kiosk solutions. Additionally, the demand is further anticipated to grow on account of surging number of interactive kiosk installations in varied applications including transportation, bill payment, information, and telecom kiosks over the coming years.
According to 6Wresearch, India Interactive Kiosk market revenues is projected to grow at a CAGR of over 17% during 2018-24. Integration of advanced technology in interactive kiosk has resulted wide range of functions including catalog information, cash deposit, money transfer, ticket booking, etc. Further, increasing consumer adoption for interactive kiosk solutions coupled with improvement in customer experience, reduction in overall business cost as well as faster solution are expected to emerge as the key driving factors for the growth of Interactive Kiosk market over the coming years.
According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch, "Earlier, India interactive kiosk solution was restricted to few applications only. However, in 2017, the market witnessed surging demand for cash recycler solution which is also likely to emerge as the vital factor for the growth of BFSI application. The market growth is attributed to multi solution offering of cash recyclers and growing consumer preference to avoid visit bank premises."
"In terms of applications, in 2017, the BFSI segment led the overall market revenues where CDMs/Recyclers (Cash Deposit Machines) and passbook printers sub-segments together grabbed major portion of the overall BFSI application market."
According to Anuj Mehrotra, Senior Research Analyst, Research and Consulting, 6Wresearch, "The Southern region of India has led the overall India interactive kiosk market revenues which is also likely to continue over the coming years. Higher consumer awareness owing to superior educational background and increasing adoption for faster and easy solution are the key driving reasons for rising demand for interactive kiosks in the Southern region. Additionally, ongoing/upcoming metro railway projects in Kochi, Hyderabad, Tamil Nadu, and Bengaluru are likely to further propel the growth of the Southern region in future."
Some of the major players in India interactive kiosk market are Diebold, Forbes, NCR and 3M.
Doubles up its entertainment line-up with Fiction and Non-Fiction shows
Moving beyond conventional storytelling and show formats, Sony SAB has announced the launch of its stellar Weekend Programming starting 21 July 2018 with two brand new shows. ‘India Ke Mast Kalandar’, an inspiring non-fiction show will showcase ‘Atrangi’ performers from across India and ‘Namune’, a heart-warming fiction show will not only bring a smile on viewers’ faces but will also help them relive memories of the iconic writer P. L. Deshpande (Pu.La), along with his much loved characters.
In line with Sony SAB’s brand philosophy of ‘Haste Raho India’, the channel is extending its original programming line-up with exciting weekend properties. Promising to leave no stone unturned in entertaining its viewers, the weekend programmes will raise the happiness quotient of the channel.
‘India Ke Mast Kalandar’, judged by the graceful Geeta Kapur, along with the entertainment icon, Mika Singh will have contestants from the length and breadth of the country coming together on a common platform not only to reveal their unique talents but to also showcase stories of hardships faced by them and the strength to stand against all odds, unperturbed. This weekend show will be hosted by the talented duo, Sumeet Raghavan and Rajiv Thakur.
Produced by Nitin Vaidya of Dashami Creations and helmed by creative producers, Swapna Waghmare Joshi and Manish Raisinghani, ‘Namune’ is all about rousing viewers to find happiness in little things around them. P L Deshpande is a revered humorist and recognized as ‘Maharashtra’s beloved person’. People relate to ‘Pu La’ and his characters, owing to the uniqueness of his humor inspired from day to day lives. With ‘Namune’, Sony SAB will bring alive that unique humor every Saturday and Sunday at 9pm from 21 July 2018.
Neeraj Vyas: Business Head – SAB, PAL, Hindi Movies and Music-
“We began 2018 with a vision of creating entertaining shows, making India happy. With Namune and India Ke Mast Kalandar, we are not just launching our weekend programming in a big way, but keeping our promise of offering shows, across formats, that are all about increasing the happiness quotient of the viewers. These shows are sure to be strong contenders among weekend shows in their respective genres. Our partner producers Vipul D. Shah and Nitin Vaidya have a stellar vision for these shows and we can’t wait to excite the viewers.”
Catch India Ke Mast Kalandar at 8PM and Namune at 9PM, every Saturday and Sunday only on Sony SAB, starting 21st July
More Than 80% Say Accuracy is the Most Important Factor When Buying Audience Data
90% would use more data if they had greater confidence in its accuracy
Lotame , the leading independent data management platform (DMP), as well as the most trusted and comprehensive data exchange, announced the results of an in-depth, commissioned survey on audience data quality. For the study, 300 brand marketers that purchase or use audience data (1st, 2nd or 3rd-party) were polled regarding the state of data quality, data quality challenges, quality-control practices, and more.
“In this more established data market, scale is a given,” said Jason Downie, Chief Strategy Officer, Lotame. “As audience data’s importance continues to grow, sophisticated marketers are becoming more interested in the quality of data to ensure they are making the right business decisions while reducing wasted ad spend.”
Nearly 100% of Marketers View Audience Data as Valuable
Per the study’s findings, 90% of marketers view audience data as either “very valuable” or “somewhat valuable” to their marketing efforts, while only 10% say it is only “slightly valuable” or “not valuable at all.” But what data are they buying?
Respondents said that they purchase a range of data types, with the most popular being:
· Demographic (age, gender) (42%)
· Geographic (34%)
· Advanced demographic (household income, education, children) (28%) and interest (28%)
· 3rd-party (25%) and behavioral (25%)
· Social influencer (24%) and 2nd-party data (24%)
“With so many different needs and goals, there isn’t a one-size-fits-all data set that marketers can simply rely on,” said Downie. “It’s not surprising to see marketers investing in multiple data types for insights and activation.”
Age (76%) Most Popular Demographic Audience
Lotame asked marketers to rank their use of demographic audiences, such as age, gender, household income, education, and the number of children in a household.
· Age -- 76% of marketers said they “always” or “usually” target by age.
· Gender -- 61% said they target by gender “always” or “usually.”
· HHI -- 50% said they “always” or “usually” target by household income.
· Education -- 40% said they “always” or “usually” target this way.
· Number of Children in Household -- 32% say they “always” or “usually” target by the number of children in the household.
“Age and gender are unsurprisingly the top demographic datasets that marketers leverage,” added Downie. “In addition to age and gender, for marketers seeking to deliver digital campaigns in an even more targeted way, it would benefit them to layer in other forms of audience data, like geolocation and behavioral.”
84% of Marketers Prioritize Accuracy
Per the study’s findings, only 20% of marketers who purchase or use demographic data are “very confident” of its accuracy, while 68% are “somewhat confident.” Meanwhile, 12% are either “slightly confident” or “not confident at all” in the accuracy of the data they purchase. That said, through this research, Lotame found that over 90% of marketers that purchase demographic data would use more data if they had greater confidence in its accuracy.
“Marketers now expect scale and are turning their attention towards the quality of data,” said Downie. “They want to be confident that the data they purchase will ensure that they reach their customers and help them make better business decisions.
In addition, accuracy was identified as the most important factor for those who purchase demographic data with 84% saying it was “very important” to their purchasing decisions, followed by price (55%) and scale (37%).
“Data sellers need to put in place rigorous quality control measures to ensure data’s quality and accuracy,” added Downie. “This means curated audience segments, leveraging a more robust verification process and using data science.”
Auburn Digital Solutions, has recently been appointed as the digital media buying agency for Snapdeal, India's leading online marketplace.
The account was won following a direct pitch and will be handled out of the agency’s Mumbai’s office. This win adds to the growing kitty of Auburn’s clients in India.
As per the deal, Auburn will manage Snapdeal’s digital media buying which includes managing spends across Google Display, Youtube, Programmatic and many other platforms. The agency will allocate it’s team of digital experts across offices in Delhi, Mumbai and Kolkata and will support Snapdeal in managing efficient buying on media.
“We are excited to bring on board Auburn. Auburn’s strength in planning and buying specially on the ad-tech platforms is strategic to build funnel from brand awareness to sales and customer retention,” said Snapdeal spokesperson.
Ashish Tripathi, Co Founder, Auburn Solutions said, “We are fortunate to work with one of the leading brands in e-commerce. We endeavour to make the best of the opportunity by putting in all efforts to make this a success. With our team expertise and capabilities in e-commerce segment, we hope to do exciting and innovative work to help Snapdeal strengthen its brand and business.”