Virtual reality (VR) has become an increasingly popular option for hospitality professionals, as it can digitally transport potential customers to a hotel or travel destination. It offers companies the opportunity to rethink how they present and interact with their customers, providing a unique marketing and customer service tool. VR opens up new possibilities for showcasing products and services, and in the future, it is likely to be a valuable source of information about customer behavior. When someone interacts with you in a virtual and digital world, a wealth of data is available about how they act, react, and interact. This data can be used to help employees develop and practice their customer service skills, thus improving the overall customer experience.
Companies are increasingly recognizing the positive impact of virtual reality training for employees and are seeing tangible results. A Harvard Business Review survey revealed that H&R Block, a major tax preparation company, experienced a 50% decrease in the number of dissatisfied customers and a 9.9% decrease in customer management times after introducing a virtual reality training program as part of its onboarding program for call center staff. Virtual reality is also a game-changer as it allows customers to learn more about their company. Moreover, it redefines the way sales representatives understand customers, increasing their empathy and enabling them to suggest better solutions to their problems. Jason Delabays explains how fully homomorphic encryption can help companies that innovate with blockchain to ensure long-term privacy. For a more comprehensive analysis of the metaverse opportunities available to companies in the hospitality industry, along with definitions of the metaverse and an exploration of how companies are already using metaverse technology, refer to the publication “Metaverse Opportunities for the Hospitality Industry”.