Principal Considerations for Launching a VR/AR Startup

26 May 2020

Any startup launch is a process that needs to go through certain phases. Even though these phases usually have a particular character and order, it primarily depends on the nature of the startup. Since VR/AR is somewhat a novelty in general, the steps needed to run a successful startup launch in this field require specific considerations. Having all this in mind, let us go through a list of things that needs to be covered for the launching process to go as smoothly as possible.

The time is now

Being confined to stay at our homes for more than two months now due to the COVID-19 pandemic has made us look for alternative ways to do our business and socialize. Besides, people need to drift away to a setting that is entirely different than the current lockdown reality now more than ever. VR/AR is the remedy for both business and entertainment issues these days, and the predictions the market boom announced at the start of 2020 will undoubtedly be further enhanced in the current ongoing setting.

What is your product?

VR/AR technology offers a world of possibilities in different areas of business. The gaming industry is probably the number one use that comes to mind. Still, the AR/VR application does not even remotely stop there. Long-distance and classroom learning, training, and education alike are areas where it will excel and prosper, not only in traditional education but in industrial and medical one, as well. The entertainment industry, such as cinemas, theatres, museums, and galleries, has already used the technology and is highly interested in continuing the trend. Bearing all this in mind, the first step you need to do is specify the area where your product will be used to make it instantly recognizable.

Who is it for?

The number of VR/AR users is increasing as we speak, and the trend will practically never stop. Since the area this advanced technology can be applied in is so big, it brings back to light the fact that one of the most critical factors of any successful marketing campaign is being confident about your target market. Combined with the precise idea where your product will be used, your marketing research campaign will be more successful, which will, in return, significantly improve the chances of startup success.

Provide top-quality software

The only safe way for your startup launch campaign to stick out from dozens of similar currently ongoing ones is to excel in every aspect. Naturally, an excellent product needs to be the core, and all other steps build around it. This means that fully covering all stages of the marketing campaign will not suffice if the actual product you offer is not a gem itself. According to a current master's degree in design for virtual reality, using cutting‑edge technology and tools allows us to change the way people interact both with one another and their surroundings, creating new digital experiences and immersive environments. Original design methods and specific high-quality software are an absolute requirement for an excellent product or a service. Once they are provided, everything else will quickly fall into place.

Study the competition

One of the best ways to find the right spot for your business is to carefully study the companies in the same line of business as you and learn from their successes and mistakes. This includes both those who are currently on your level, and those who are a league up, a place you aim to be someday. For example, if the CEO of Facebook sees VR/AR as a great opportunity, there is a high chance it is worth considering.

Define the company structure

A well-defined company structure provides a great first impression. It is unanimously seen as a sign of professional organization and advanced business aspirations. Apart from the original business idea, serious investors are always interested in those who stand behind the concept and are responsible for its successful implementation. Therefore, you will send a clear message of how serious your idea and plans are by naming the CEO, CTO, and managing partners. Naturally, not all sectors need to be covered by and inside personnel. However, if you plan to outsource some parts of your business operations, make sure you also name the companies or individuals who do the outsourced tasks.

Eventually, for the VR/AR startup launch to be successful, you need to look at it as a complex process whose stages need to be treated with equal attention. If an outstanding effort is invested in all of them and the original idea is original and implementable, you are in for a win.

Author’s bio: Jennifer Hahn Masterson is the Lead Content Strategist at Spread the Word Solutions, holding an MA degree in business communication. She is always doing her best to help her clients find their place in the ever so competitive business arena, insisting on long-term sustainability rather than on some questionable get-rich-fast scheme. You can check her out on LinkedIn.

Photo by Jan Vašek at Pixabay

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