Does VR work for Energy Efficiency markets? A review of the VR presentation of the Investor Confidence Project at Hannover Messe 2018

Does VR work for Energy Efficiency markets? A review of the VR presentation of the Investor Confidence Project at Hannover Messe 2018

Experiences from using Virtual Reality in B2B communication

(download full review of our HM VR event on the Investor Confidence Project ICP here)

We are exploring Virtual Reality and its application for B2B and B2P ("business to policy") communication since 2016. Our intention was and is to identify and develop new ways of attracting and engaging with EEIPs target audiences. Virtual Reality offers many possible benefits: from new user experiences to new forms of collaboration and information to awareness creation. 

But 2016 we were not convinced that the technology is mature enough. This has changed...

The challenge: Investor Confindence Project ICP

EEIP is partner in the EU funded H2020 project ICP. ICP aims to better connect financial markets with energy efficiency sector in Europe to enable better access to finance for project developers and finally to more energy efficiency projects implemented.

The idea behind is rather simple: reduce the uncertainty of project outcomes and make projects bankable.

The approach is build on what financial markets call the "DNA" of business: Standards. ICP has developed certifiable and technology neutral project process standards and supports project developers (and investors) with training and project assistance in the implementation.

And ICP is supported by a global network of industrial allies as well as an investor network ready to invest more than a billion EUR.

And the challenge?

Even though the arguments are convincing, reaching target groups with such a rather dry and technical subject is always more difficult than many expect. Constant overflow of information and daily business pressure are the enemies - making it hard to grap the attention of project developers for 30min enough to explain the basics and benefits of the new approach. Once this has been achieved,  ICP can convince many stakeholders to take the effort to participate in a training and to apply the ICP protocols - but many of you know how difficult it is to get 30min attention for a new subject, especially if this is the first contact!

The Virtual Reality approach

We have used a Virtual Reality environment from a company called Hyperfair and designed it to our needs. The environment can be accessed via laptop (looks a little bit like a 3D game) but now also via mobileVR using a standard mobile up to full VR including hand controllers, the rather expensive option (still). And it can obviously be accessed from anywhere at the same time.

The idea was to leverage the Hannover Messe, biggest industrial fair globally, to run an "event in an  event": A physical "event" where participants come together - to then use mobileVR headsets to jointly experience the ICP presentation in VR. This has also allowed others not having a mobileVR headset to follow the presentation on the "real screen" to which we streamed the VR event. In other words, we ran the event in VR, but people "outside" could see the presentation and the VR participants (or their avatars) from the outside.

This is how it looked like

The Results

The results were astonishing. We were very convinced that it would turn out being a success, but results were even better than expected. With a primarily online based announcement marketing communication, we reached more than 100.000 - with this topic..., not covering visibility generated through 3rd parties talking about it and articles such as newsletters from the Hannover Messe itself.

We had also more positive feedback and follow up discussions than we could manage. And more interest generated compared to many month of communications before.

One reason - its fun :-)

Please feel free to read our full report covering our preparation and marketing activities, many pictures, videos, facts & figures and - the recorded VR presentation itself.

You can also contact me anytime under marianna.santavenere(at)ee-ip.org in case you want to know more about our VR experiences.

Do not forget...

As a project developer / ESCO / engineering firm active in the energy efficiency market, please feel free to contact juergen.ritzek(at)ee-ip.org or rod.janssen(at)ee-ip.org to get more information about the project, its benefits, the free support, free trainings and obviously the investor network itself.

You can also find the ICP documents - the "protocols" - for industry here

For further information, you can also check our recent posts about the project

• Join us in a novel approach to increase investments in industrial energy efficiency
• Too good to be true? Not really: a word to the captains of industry
• Update - ICP: Top 2 benefits for energy efficiency project developers
• FAQ - how the ICP process works for industry, district energy and street lighting

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