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The most popular tool for companies that help to increase their conversion rate is Augmented reality (AR). Morden companies have options that improve the conversion rate by adopting the technology called AR. Using technology in your online store experience helps you increase your conversion rate. AR can give your consumer the confidence to buy and also reduce the return rate.
There are many ways by which you can increase your conversion rate by Augmented reality.
Novelty is the biggest reason for fueling the success of augmented reality. Nowadays millennials are the one who enjoys this technology the most. Augmented reality is best and enough to draw traffic to your website and attention towards your brand.
Creating Instore Environments Through AR
What if you could bring your entire store right to your customer? Not just making your entire inventory available through your web-store, but you could actually give customers the entire experience of visiting your physical stores. Customers could shop in AR, make their purchases, and then receive their products via delivery. More “locations” led to more sales.
Augmented reality allows your customers to try before they buy. You can augment the product before purchasing the one. Jeweltry gives you the service through which you can try different jewellery on any of your devices and can buy which suits you the most.
Considering the wide reach & effectiveness of AR campaigns along with its long-lasting impression on their customers, a large number of brands are exploring the AR way to increase their brand awareness. Consumers usually remember AR ads owing to its interactiveness & easiness of sharing. Due to its wide-reaching, AR ad revenue reached $1.58 billion in 2019. Through social media & user’s ability to share ads, many brands reached millions of viewers. And it is no wonder that AR ad revenue surpassed a billion-dollar mark. Considering its high recognition, brands are realising the value of AR advertising & their advantage. As the saying goes “Action speaks louder than words”, consumers' actions are reciprocating their saying. And if the sharing rate continues to remain high, the AR advertising industry could reach $8.8 billion in 2023, with an 81% compound annual growth rate.
AR ADS ARE PERFORMING INCREDIBLY WELL, WITH CONVERSION RATES IN THE 20-80% RANGE
Conversion rate shows how much visitors actually complete the desired goal out of the total number of visitors and it is the best measure to show how well ads are performing. High conversion rate suggests satisfaction of consumers in regards to marketing strategy, website or the product offered by the business.
Also, read our latest blog on Augmented reality : What it is & Why your brand should have one & The Future of Augmented Reality