As noted in this “voicebot.ai” piece, new analysis from Score Publishing estimates that NY Times bestselling authors/publishers will lose $17 million this year in sales because of poor voice assistant search recognition. Score Publishing assumed that only about 20% of failed queries led to a lost sale – the $17 million could be higher/lower if that assumption under/overestimates how determined someone is to make the purchase.
Here’s other facts from the article:
– Voice assistants overall only answered 43.1% of the queries but that figure rose to 55% when the toughest of the four questions was removed
– Google Assistant was the top performer successfully answering 72.5% of the queries
– Microsoft Cortana and Amazon Alexa followed with 60.8% and 44.2% respectively
This “recode” article explains how Amazon is trying to partner with consumer good companies through co-marketing agreements in an effort to get consumers used to making purchases through voice. Here’s the intro:
Amazon wants more people to purchase more stuff through Alexa — and it wants the companies that make the stuff to foot the bill. The e-commerce giant has been reaching out to consumer packaged goods companies this year, asking them to include in their advertising campaigns Alexa branding and an Alexa utterance — the phrase you’d say to make Alexa purchase, say, Tide detergent or Blue Bottle Coffee.
The terms are pretty steep. Amazon is asking for millions of dollars worth of advertising impressions and months’-long campaigns on non-Amazon platforms to include the Alexa utterance — essentially for free, according to emails viewed by Recode.
It’s likely brands will ask for better terms if they are going to actually do this. “In negotiations, you don’t want to start with the most reasonable offer,” Jason Goldberg, SVP of commerce at digital marketing agency SapientRazorfish, told Recode. “You start with the most favorable deal for you.”
In exchange, Amazon will give CPGs data about how well their product is performing within its category on Amazon, as well as some advertising on Amazon’s sites — stuff they don’t have to spend out of pocket to offer. Amazon will also help engineer the brand’s skill, which is basically a voice assistant’s version of a mobile app.
As the article notes, only about a third of the folks with smart speakers have used them for a purchase – and only a fraction of that do it regularly. But those stats are based on last year. I imagine more & more people are getting comfortable with their voice assistants – and the number of people getting smart speakers for the first time continues to grow rapidly…
If your target market includes millennials, voice is a “must” channel for you to consider. Here’s the intro from this “voicebot.ai” article by Bret Kinsella:
CouponFollow’s Millennial Shopping Report 2019 says that 45% of millennials use voice assistants while shopping. The survey of 1,002 millennials in the U.S. ages 22-37 was conducted in January 2019. This doesn’t say that 45% of millennials are using voice assistant for all of their shopping needs or that they are consummating the purchase by voice. However, it is another indicator that voice can be a useful aid in the shopping process such as searching for products or accessing product reviews. This expanded view of voice shopping versus voice commerce was first introduced in Voicebot’s 2018 Voice Shopping Consumer Adoption Report.
Recently, OnBuy.com (a UK company) issued this report (based upon “voicebot.ai” findings) about how we’re using our voice assistants to shop in the USA. Here’s five things to know:
1. Everyday household items (25%) are the most ordered products through voice-assistants
2. We’re least likely to use a voice-assistant to locate and give our business to a local service, such as a hair cutting or dry-cleaning outlet – with only 4% currently doing so
3. The aspect that consumers most like about using a voice-assistant to shop is that it is hands-free (27%)
4. The biggest apprehension that shoppers have about utilizing a voice-assistant to buy goods or services is that a lot of them do not yet feel entirely comfortable shopping by voice (32%)
5. Interestingly, 31% would like an integrated commerce experience by using a voice-assistant to help them locate products as they navigate inside a store