Colleges and other educational institutions use virtual tours when recuiting students. Being able to actually see the campus, sometimes even in real time, allays the parents' fears about the neighborhood and engages their student prospects. Further, from a business perspective, it gives them an advantage over institutions without virtual tours. Using the school's website in this way, allows the school to put itself in the best possible light when prospective students begin searching for possible schools. The more students you engage, and ultimately enroll, the more income for the school.
Nu Cloud; The Benefits of Virtual Tours for Student Recruitment; May 2011