In this new episode of Alto's Zebra 3, 2, 1 podcast, Pablo Baldomá Jones, our Co-founder, interviewed Jeffrey Travis, CEO and founder of Positron, a virtual reality (VR) technology studio. Jeffrey is an entrepreneur, filmmaker, writer, engineer, and author, inventor of Voyager, a platform for immersive VR experiences. He has collaborated with NBC, Universal, Warner Bros., Disney, and technology companies such as HP, Intel, and Verizon.
Travis manages the B2B sales strategy by integrating hardware and software with a subscription-based business model and pricing. He reflects on how highly specific niche companies can analyze and penetrate new markets.
For Travis, the best way to scale B2B sales is through the following:
- Customer feedback, that is, what customers say about the product. In the specific case of Positron and its immersive VR experience solutions, the strategy focused on artists and not final users, who could use that tool to boost their creations.
- Strategic alliances with companies in the industry that have already invested in VR and are interested in developing this new technology. In this sense, it was oriented to those Hollywood studios (Disney, Universal, Warner Brothers, for example) and other technology companies (Intel, HP). These companies helped us to get new partners.
- Changing their business model. “Being a high-value product, it requires a lot of capital investment and months or years for conversion. So, we asked ourselves: in which sector have we helped our customers be more successful? The answer that emerged was: museums and tourist centers since, according to our data, more than 50% of visitors to these places are willing to pay extra for the immersive experience”, said Travis. So, they offered these spaces the installation and maintenance of our VR chairs completely free of charge and offered them a percentage of the value of each ticket. This change in strategy helped us scale a lot, as everyone said yes, because it represented an additional income of millions of dollars a year without any monetary investment.
Travis also recognized two strategies that did not work well for resource capitalization:
- “The first of these was to offer the VR immersion service in arcade game centers, where the end consumers of the product expected a more active (or interactive) experience, while the experience of Positron products is more passive, cultural, or educational, that is, watching a movie with VR and a motion chair. It was like putting a Ferrari at a KIA car event. That is, we realized that we should not target an audience that is not so interested in this type of product.”
- “The second scaling strategy that didn't work very well was in the hospitality sector. Some chains proposed offering a "deep experience" in the lobby, even in some rooms. We tried, but it didn't work well. The lesson we learned was that VR still requires an operator to accompany the user and clean the helmets, that is, a little more manual intervention. We found that the hotel staff did not have the resources to keep the product in optimal operation, so guests could not use it. We concluded that we must ensure that the operations part can be scaled, and it was not possible to do that in hotels.”
Finally, regarding pending implementation challenges, Travis indicated that they are considering possible alliances with historical and artistic exhibitions (such as Tutankhamun, and Van Gogh, among other types of exhibitions) that visit different cities in the United States, Canada, Latin America, Europe, and the rest of the world.
The Zebra 3, 2, 1 podcast offers the opportunity to learn from experienced business leaders like Jeffrey Travis and obtain valuable information about creating business values. Listeners will receive practical tips and effective strategies to foster a strong corporate culture and a unified vision.
At Alto, we are passionate about helping companies scale with technology and analyzing how other factors can help them meet their operational objectives. Stay tuned for upcoming episodes.
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