VR Ignite
VR Ignite, a provider of virtual reality game experiences, brings immersive entertainment directly to clients' events and venues. Originally launched as Altered Reality Zone in early 2020, the company rebranded in response to market insights provided by student consultancy projects from Nottingham Business School (NBS).
The challenge
Nathan Drew, VR Ignite's Director, was working full-time at Rolls Royce when he initiated the venture. Eager to expand his business and explore new markets, Nathan turned to NBS, intrigued by the potential impact of student consultancy projects. An introduction through the Catena Business Network in early 2022 set the stage for collaboration.
The Consultancy Experience Project
Nathan's first engagement with NBS involved a team of five MSc Management students working on a Consultancy Experience Project (CEP) module. This credit-bearing module enables student teams to act as consultants for real businesses, applying their academic knowledge to practical challenges.
Over seven weeks in spring 2022, the student team conducted a comprehensive market analysis of VR Ignite. Their insights and recommendations were eye-opening for Nathan.
"It was during this project," Nathan reflects, "that I really began to think of my business in a more critical way. The students' questions and feedback inspired me to consider making some significant changes."
Approach and Impact
A Fresh Perspective on Marketing
Impressed by the students' work, Nathan promptly engaged another team, this time of MSc Marketing students. Their task: to recommend ways of enhancing VR Ignite's website and social media presence. The students' data-driven, research-led approach provided actionable insights.
"Their report was uncomfortable but fair," Nathan admits. "They highlighted how our website performed and compared it to competitors. The ideas they presented were invaluable for improving our online identity and customer engagement."
The students' analysis led VR Ignite to upgrade its website and sparked a broader discussion among his team about rebranding.
Rebranding and Brand Development
With rebranding in mind, during spring 2023 Nathan collaborated with MSc Marketing and Brand Management students. These students undertake a module on Brand Development, where they generate ideas for businesses' brand identity, tone of voice, and overall brand principles.
Although Nathan did not adopt any of the specific brand names suggested by the students, the exercise provided the impetus to rebrand more swiftly. Nathan credits his wife for the final name, VR Ignite, but acknowledges that the student projects accelerated the decision-making process.
Ongoing Collaboration and Growth
The relationship between NBS and VR Ignite flourished. NBS not only hired VR Ignite for a business event but also facilitated connections within Nottingham Trent University (NTU). This has led to potential collaborations with Nottingham School of Art & Design students, who could contribute to developing new game themes.
Nathan is enthusiastic about the future: "Working with NBS students has taken our business to a new level. Their fresh perspectives and innovative ideas have been invaluable. We're a growing business, and we look forward to continued collaboration and innovation.
“As well as getting the students’ viewpoints it’s been fantastic to work with the University and to feel like we’re doing something valuable for the students. It’s a good feeling to be able to watch them grow in confidence through these projects and to give them constructive feedback.”
Conclusion
VR Ignite's partnership with NBS highlights the significant impact student consultancy projects can have on small businesses. By leveraging the skills and creativity of NBS students, VR Ignite has navigated critical growth phases, refined its brand, and positioned itself for continued success in the competitive VR market.
Postgraduate Consultancy Projects
Postgraduate consultancy projects offer our postgraduate students a valuable opportunity to put theory into practice while working on a real business challenge. Please click on the link below to find out more, alternatively email NBSStudentProjects@ntu.ac.uk to find out about how we can support your business.