7 Reasons Why Luxury Yacht Builders Need to Invest in Virtual Reality
It’s a common misconception that technological innovation is directly counter to a luxury brand’s ethos. But in fact, when we look more closely at one of the hottest technology trends, it’s no surprise that luxury brands are helping pave the way towards technological revolution with Virtual Reality (VR). Virtual Reality is hitting the luxury yacht retail and making big waves for the future.
Here are 7 reasons why luxury yacht builders need to invest in Virtual Reality.
1. Visualize the context for where the yacht will be
It’s hard for buyers to envision a new build of a yacht, even in any environment — VR makes the imagination possible. When you invest in Virtual Reality, you invite visitors to a sensorial journey that transforms where the boat is located. We’ve assessed the importance throttling the speed of a boat when at the helm. This way, they can experience the difference between cruising at 4 knots and going full speed making massive wakes. We can also take your customer to any part of the world and they can feel exactly what it’s like to be cruising in the Maldives or exploring the French Riviera.
2. Virtual Reality translates difficult design concepts for all audiences
It can be a challenge to translate architecture or interior design concepts to people unaccustomed to the industry. Investing in Virtual Reality breaks down those barriers, instantly delivering them to a space that allows them to see the evolution by design by translating the ideas into an immersive environment.
3. With customization, potential buyers can see major changes to a yacht before they are made
Changes in customization of boat exterior and interior design can be made in real-time. This gets buyers excited and enables them to make commitments sooner where you’ll see more returns on your investment in virtual reality. As virtual reality development matures, and even now, graphics are nearer to realism — this tell the potential buyer what they see is closer to what he/she will get.
4. Speed
When you invest in Virtual reality, it expedites stakeholder’s decision making from a, at times, two-year, purchasing journey. You will be able to connect on another level and nurture “the dream” surrounding owning and being on a luxurious yacht. Having a boat in inventory, even in VR, allows you satisfy requests to see more yachts within one session instead of the time it takes to coordinate and travel to the destinations of the yachts.
5. Keep costs down
Investing in Virtual Reality technologies help you overcome the geographical barriers and reach out to more potential customers. From marketing and engagement to conversion, it reduces cost everywhere. Say no to costly ad or printing services, travel and hotel expenses, and avoid the travelling hassles involved. In addition, your maintenance costs are kept down because your inventory will be virtual instead of in a dealership or marina. With Virtual Reality on your side, your sales team can meet deadlines without fail by responding to more queries, meet more interested buyers and achieve more conversions. With SW Interactive, we build you an easy-to-use VR application, where you can create multiple custom yacht portfolios matching the needs of the clients with absolute ease.
6. Virtual Reality presents an opportunity to reach a larger market
With a growing interest in yachts among Southeast Asia’s 4,690 ultra wealthy individuals and the ever growing economy in China, Middle East, historic top yacht manufacturers based in Europe will not be restrained to geographic location to fill the needs of prospective buyers anymore.
7. Customer insights
Research shows us that less than 5% of the customers that brokers engage in actually end up in buying a boat. This fact leaves shipbuilders with little information on the other 95% that didn’t purchase. Other than expensive focus groups, analytics of experiences in VR can help you understand better your clientele. VR analytics let you visualize where buyers spent most of his time on the boat, their customization preferences, even the parts of the design that they loved or dislike. This precious information is now at arm’s reach of Marketing and Design Departments with software implementation and VR.
Traditionally cautious with technology, luxury yacht manufacturers are now slowly moving towards the implementation of digital innovations into their strategy to remain relevant and competitive on the market. Innovation leaders are increasing preference for enhanced technologies to build and market yachts. Current use of VR technologies for luxury yacht manufacturing promise a bright future of innovations for the sector.