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The Motivations and Decision Making behind Customers’ Purchases of A/R and V/R

“Should we evaluate their V/R product, or just get it because it’s so awesome?”

I have a confession to make. When I started working on Vuzop, I did not conduct any market research, any customer discovery discussions, any value analysis, describe any use cases, or even simply write down the problem I was trying to solve.

I developed Vuzop based on my own experience with 1) managing large software projects for clients, and 2) trying to understand how my clients’ businesses worked. In my own defense, I will just say that perhaps I got understandably excited when I saw the capabilities that VR could provide.

But this is all a highly risky way to bring a product to market. It postpones the essential question of “why will somebody buy this?”

I am pretty certain that I am not the only person to get irrationally exuberant about AR/VR capabilities, so how do we tell which AR/VR products are commercially viable? This blog exists in part to bring some discipline and attention of my own thought process back to the discipline of the marketplace.

So if I were to go back and think through the marketing aspects of my AR/VR product more proactively what questions would I ask? And, if I were in position as either an investor or a prospect of an AR/VR product vendor, how would I analyze the company and its product?

Some Criteria for Assessing AR/VR Products

  • Target market
    • Definition of the market
    • Breakdown of any market segments
  • Motivation of Buyers
    • What is the critical business issue being solved with the product?
    • What are the typical reasons for why this issue exists?
    • Why will customers expend money and time to solve the problem?
    • Initial motivational trigger
    • Ultimate purchase motivation
    • Intended use case(s)
    • How much money can the customer add to their bottom line?
    • Where can events be found that will create urgency in the timeline?
  • Competition
    • Competitive solutions, i.e., other ways to solve the problem besides AR/VR
    • Positioning/differentiation versus competitors, whether in same technology arena or other
    • Why would a customer purchase the product versus DYI?
  • Product features
    • What’s a one sentence description of the essential value?
    • Which product features serve to differentiate from the competition?
    • What platform is the product based on?
    • What infrastructure does the customer need to have in place?
    • Is onsite sales or support required?
  • Marketing
    • What is the generally expected ROI in the market?
    • What is familiar about the product and what is surprising?
    • Permanent license or subscription pricing?
    • Customer endorsements and recommendations
    • Are there referrals or word of mouth leads?
    • Are there any distribution partners?
    • Are there existing customers the product can be sold to?
  • Qualifying
    • What is the process of discovery with prospects?
    • How are prospects qualified to go through the sales process?
  • Vendor
    • What is the vendor’s credibility?
    • What does the vendor’s team look like?
    • What is the vendor’s geographical coverage?
  • Proof of Product
    • Are there case studies?
    • What is the number of customers?
    • What is the sales growth?
    • Are there investors?
    • Are there partners?
  • Decision
    • What is the role of the targeted buyer in the organization?
    • Which features close the deal?
    • Was pricing critical?
    • What was the calculated ROI for the prospect?
  • Deployment
    • What technology needs to be deployed?
    • What training needs to be performed?
  • Support
    • What does the vendor’s support look like?
  • Post-mortem
    • Is the company still using features that closed the deal?
    • What features are used more than expected?

I could go on and on – there have been books written on this subject – but this gives a good framework to begin with.

 

February 14, 2018 / Enterprise A/R and V/R, Purchasing Decision-Making for A/R and V/R / Tags: Enterprise A/R and V/R, Purchasing Decision-making

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Augmented Reality
Use Cases and Business Cases

Steve Kilner

This blog is about the adoption of Augmented Reality and Virtual Reality technology in enterprise and governmental organizations.

In particular my focus is on AR and VR technology with solid business justification through either financial or performance benefits. The emphasis is on quantifiable results.

I started this blog based on my own experience with developing and marketing an enterprise VR application, Vuzop. There are challenges, but I believe A/R and V/R will become massively used technologies in enterprises... through solid business justification.

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