In our day to day lives advertising is everywhere, from the websites we browse, the magazines we read, on TV, at the cinema, or just walking down the street. For the most part and especially online advertising revenue provides a vital source of income for those businesses. Due to the early nature of virtual reality (VR) the technology hasn’t yet started to see an influx of ads but that is changing as fast as VR is growing. Back in June VRFocus reported on StartApp, a mobile marketing platform releasing results of a VR ad campaign, and now the Flo VR ad network has officially arrived.
Using Flo VR brands and advertisers will have a new way of connecting with their customers while they’re immersed inside VR worlds byway of the monetization of games and apps. Companies wishing to advertise can partner with developers to design 360-degree advertisements for a particular audience that the brand wishes to target.
Having ads appear inside a VR videogame will likely annoy gamers so Flo VR has gone for the approach of rewarding users for viewing the adverts rather than just bombarding them with ads. Flo VR states in a press release that from a recent survey, almost 80% of players confirmed they are open to engaging with video ads for in-game rewards, with user conversion rates between 60 to 70%.
“For the brand and user the intimacy of VR advertising is second to none, It’s a new and exciting medium to tell a powerful story in a way that’s much more personal and up close than brands are normally able to do. Placing the user right in a branded 360 scenario and allowing them to control the ad is one of the absolute best ways for a brand to connect with a consumer,” said CEO & Founder Roger Perry.
The company will also be focusing on interactive VR experiences, allowing users to control advertisements. Flo VR will be launching a campaign with JEEP in which VR users will be able to hop in a JEEP Cherokee and take it for a drive through a VR world.
For advertisers the platform features heat mapping and head tracking analytics, which help determine where best to place content. This also informs developers and advertisers, where users are spending most of their time looking.
Flo VR plans to handle all VR content production in house for clients, while developers will be able to drag and drop the SDK into their Unity environment. They can then select where they want to server ads throughout the game
The platform is now available featuring around 25 VR games and about 100,000 users in the network. For all the latest VR news, keep reading VRFocus.