Is the Era of Conventional Pitch Decks Over? Here's How Virtual and Augmented Reality are Changing Pitch Decks If your pitch deck fails to impress investors, it's time to upgrade it with the power of augmented and virtual reality.
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Pitch deck presentations play a decisive role in fundraising with the potential to make or break a deal. Most businesses use pitch decks to present their business model and offerings to secure investments, but only a fraction are successful due to the cutthroat competition. In fact, over 1000 pitches are created daily in San Francisco alone, and investors are bombarded by pitch decks all the time!
As a result, companies are looking for new methods to make their pitches highly engrossing and persuasive. And one powerful approach could be to incorporate immersive technologies like virtual and augmented reality (VR and AR) into pitch decks. Why?
AR and VR can create highly engaging and convincing experiences for investors while distinguishing the pitch deck from competitors. It's a great opportunity you must not miss! So, we will now explore the power of VR and AR and learn how you can utilize them easily for your pitch decks.
The influence of AR and VR
Augmented reality (AR) superimposes a computer-generated image on a user's view of the real world, thus providing a composite view. Virtual reality (VR) is a computer-generated 3D simulation that places the user inside an experience that allows them to interact with 3D content and other users.
As discussed, incorporating VR and AR technologies can amplify the convincing power of your pitch decks and set it apart from competitors, raising its chances of success. How?
AR and VR technologies enable investors to perceive your product or service in a customized environment directly. And this creates an engaging and memorable experience that persuades them about the potential of your business's offerings and its vision. It is particularly beneficial for introducing new technologies that are challenging to explain through conventional pitch decks.
For instance, if you are developing new software, you could use VR to offer investors a virtual tour of your product. If you are developing new hardware, you could use AR to superimpose a 3D model of your product onto a real-world environment.
Many businesses are still figuring out how to leverage the popularity of videos, which make up about 82% of online traffic, in their pitches. But you can already go one step ahead with AR and VR to surprise and impress investors!
How to implement AR and VR in your pitch deck
The steps involved in implementing AR and VR into your pitch deck are very similar, but the platforms, hardware and presentation can vary greatly, as we will now discuss. Let's begin with the steps to integrate AR into your pitch deck effectively:
- Define objectives — Identify your goals and determine the added value expected from AR.
- Choose an AR platform — Evaluate options like ARKit, ARCore, Vuforia, or HoloLens, considering budget, hardware, ease of use, and audience compatibility.
- Create the storyboard — Plan your AR pitch deck, presentation flow, and key AR moments.
- Develop AR content — Design and create the planned AR content. You may need to collaborate with a developer or designer for this step.
- Integrate AR — Combine the AR content with existing materials using AR-supporting software or custom solutions.
- Test and refine — Optimize the AR pitch deck by testing and making adjustments.
- Prepare hardware — Ensure that the audience has access to necessary AR hardware by providing the required devices. The hardware requirements typically include a processor, display/glasses, sensors and input devices.
- Train and practice — Familiarize yourself with AR technology and presentation pacing in advance.
- Deliver the pitch — Present the AR-enhanced pitch while engaging the audience and answering their questions.
- Gather feedback and iterate — Refine your pitch deck and AR content based on audience feedback for future presentations.
Let's enter the world of virtual reality now! To effectively integrate VR into your pitch deck, you must follow these steps-
- Establish goals- Determine the objectives of your pitch deck and ascertain the role of VR in achieving them.
- Select a VR system- Compare platforms such as Oculus Rift, HTC Vive, PlayStation VR, and Google Cardboard, taking into account aspects like cost, hardware prerequisites, and audience compatibility.
- Design a storyboard- Outline the progression of your VR pitch deck, including visualizations and crucial VR-enhanced segments.
- Produce VR content- Collaborate with a skilled designer to develop the envisioned VR material.
- Merge VR into your pitch deck- Integrate the VR content with existing materials using VR-ready presentation software or tailored solutions.
- Evaluate and improve- Assess the performance and make necessary modifications for the best possible experience.
- Set up the hardware- Supply the required VR hardware and conduct equipment checks before the presentation. You may require a computer, sensory displays, headsets, tracking system and other input devices.
- Rehearse- Familiarize yourself with VR technology and presentation timing by practicing your pitch in advance.
- Present the pitch- Deliver the VR-augmented pitch deck, leveraging VR to engage the audience and address their questions comprehensively.
- Gather feedback and refine- Enhance your pitch deck and VR elements based on audience input for future presentations.
Top Companies That Use Futuristic Pitch Decks
Several companies are already adopting VR and AR in their pitch decks. As these technologies gain widespread acceptance, more businesses will likely employ them when presenting their ventures to investors. Some current examples of companies utilizing VR and AR technologies in their pitch decks include:
- WeWork — A provider of shared workspaces for startups and entrepreneurs, WeWork has used 360-degree VR technology in its pitch decks to offer investors a virtual tour of its workspaces. This approach has attracted investors interested in the future of work.
- Nike — Nike has utilized AR in its pitch decks to provide investors with a sneak peek at its upcoming products. This strategy has drawn investors interested in the intersection of fashion and technology.
- Urban Skyline — A real estate development company, Urban Skyline, has used Virtual Reality (VR) and digital modeling in their pitch deck to showcase their latest project to potential investors and clients. During the pitch presentation, Urban Skyline provided VR headsets to attendees, allowing them to immerse themselves in the proposed projects fully.
Note that while the examples above represent the experience partially, the complete experience can be gained only with proper equipment using the private files these companies had presented in their original pitch deck to investors.
VR and AR are revolutionizing pitch decks by providing more immersive and engaging experiences for investors. As these technologies continue to gain traction, we can expect to see an increasing number of businesses using VR and AR to present their ventures to investors, heralding a new era of investment pitches. So, if you are looking to raise capital for your startup, you should consider getting on board the VR and AR bandwagon without delay!