Famed 19th century American poet and educator, Henry Wadsworth Longfellow, was once quoted as saying, “The human voice is the organ of the soul.” As true as it was then, Longfellow’s message is even more powerful today.
Why Is That True Today?
Voice commerce or vCommerce, an alternative to using a keyboard, is expected to soar in the near future. A recent study by Juniper Research forecasted that more than $80 billion annually will be generated through voice commerce by 2023. Juniper, which offers analytical services to global tech companies along with its research, also said it anticipates that most sales will start off being digital and money transfers.
Juniper indicated that sales will migrate more to products when vCommerce comes up with a way for smooth cross-platform transactions. Based on its forecast, the company also said it expects sales of multi-platform apps in smartphones and tablets to increase while predicting a decline in standalone apps.
If that’s not enough motivation, consider a study. Research by Gartner for Marketers predicted that digital sales will increase 30% by 2021 for early adopters who redesign their sites.
In order to successfully leverage vCommerce, more research relevant to a company’s customers is required. Companies need to first discover when and how their customers use voice and then determine their own psychographic voice profile.
Voicebot.ai reports that users of voice are of the alpha generation They’re 18 to 29 years-old and have iPhones, and of that group 69%, they say, are male.
Drilling further down, it’s extremely helpful for companies to discover what kind of devices their target audience relies on. Customers that participate in running and outdoor activities would likely favor earbuds and smart watches while home bakers and cooks might lean more toward smart speakers.
The Tricky Parts
Depending upon what findings about the favored devices of their customers, the next step is to pair up one or more voice assistants with the appropriate brand that matches up with their targeted audience. This is critical for companies who want to be found.
The final step in the process is for companies to alter their SEO methodology. Unlike an online search which generates a list of possibilities, vCommerce will deliver one finding. Where companies wrote algorithms to be found on search engines, they now need to entice algorithms that generate the recommendations on voice assistants.
Remember that Google relies on information from websites to produce its search results. Alexa, on the other hand, generates its results from a list of 70,000 skills.
To produce that good fit, it’s important to discover the questions customers ask about a company and/or its products or services. One way to determine that is to survey customers. Another is holding focus groups.
Early adopters have an excellent opportunity to not only raise more revenue, but also increase their market share by adapting and incorporating vCommerce in making it easier for this young and growing customer base to find them.