How can you allocate your budget for VR/AR in a multi-channel marketing campaign?

1 Define your objectives

Before you decide how much to spend on VR/AR, you need to have a clear vision of what you want to achieve with them. Do you want to showcase your products or services in a realistic and interactive way? Do you want to educate your audience about your industry or solutions? Do you want to generate leads, nurture relationships, or increase conversions? Depending on your objectives, you will need to choose the most suitable VR/AR format, platform, and content for your target market and message.

2 Assess your resources

Another factor that will influence your budget allocation for VR/AR is the availability and cost of the resources you need to create and distribute them. You will need to consider the technical skills, equipment, software, and time required to produce high-quality VR/AR content that meets your standards and expectations. You will also need to evaluate the best channels and methods to deliver your VR/AR content to your audience, such as web, mobile, social media, email, events, or trade shows. Depending on your resources, you may need to outsource some or all of the VR/AR production and distribution tasks to external partners or vendors.

3 Compare your options

Once you have defined your objectives and assessed your resources, you can compare the different VR/AR options available and select the ones that offer the best value for your budget. You can use various criteria to compare your options, such as the quality, scalability, interactivity, accessibility, and compatibility of the VR/AR content and platforms. You can also look at the examples and case studies of other B2B companies that have used VR/AR successfully in their marketing campaigns and learn from their best practices and challenges.

4 Allocate your budget

After you have compared your options, you can allocate your budget for VR/AR in a multi-channel marketing campaign. You can use a percentage-based or a fixed-amount approach to determine how much to allocate for VR/AR. A percentage-based approach means that you allocate a proportion of your total marketing budget for VR/AR, based on your priorities and goals. A fixed-amount approach means that you set a specific amount for VR/AR, based on your available funds and expected costs. You can also adjust your budget allocation over time, depending on the performance and feedback of your VR/AR campaigns.

5 Measure your ROI

The final step to allocate your budget for VR/AR in a multi-channel marketing campaign is to measure the ROI of your VR/AR initiatives. You can use various metrics and indicators to measure the ROI of VR/AR, such as the number of views, downloads, shares, comments, likes, leads, conversions, sales, revenue, customer satisfaction, retention, loyalty, and advocacy. You can also use tools and platforms that provide analytics and insights on your VR/AR campaigns, such as Google Analytics, Facebook Analytics, YouTube Analytics, or specialized VR/AR analytics solutions. By measuring your ROI, you can evaluate the effectiveness and efficiency of your VR/AR investments and optimize your budget allocation accordingly.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?