Monthly Archives: August 2019

Voice Commerce on the Rise: What Are People Purchasing?

Voice Commerce on the Rise: What Are People Purchasing?

There is no doubt that voice search is becoming a new, important pathway for consumer purchasing. Voice search should be a front-of-mind consideration for the marketing and communications strategy of any company. We have provided statistics and key-takeaways on the relevance of voice search in consumer purchasing, as well as the most common purchase categories below.  

Why Does Voice Search Matter?

Voice search matters because the majority of people are using it. The following statistics from the 2019 Microsoft Voice Report show the massive adoption of voice search, digital assistants, and smart speakers to support their daily lives:

  • 75% of households will have at least one smart speaker by 2020;
  • In 2019, 72% of people use voice search through a personal digital assistant and 35% have used voice search through a smart home speaker;
  • 52% of users are searching for a product or service;
  • 44% conduct additional research for products and services;
  • 31% use digital assistants to compare products and services; and
  • 25% use digital assistants to make a purchase.

Perhaps one of the most important takeaways is that 54% of voice users indicated they believe that digital assistants will help them make retail purchases within the next five years. 

What is vCommerce?

Voice is becoming such a hot concern in commerce that it now has its own term: vCommerce.  This represents eCommerce's evolution to include voice shopping. One of the anticipated benefits of vCommerce is its ability to reduce friction in the shopping experience.  Once that ease is achieved, there will be no going back. Consumers are unlikely to return to more burdensome shopping experiences once they have found one that is a more natural and easy fit for their lifestyle. The Voice Shopping Consumer Adoption Report from voicebot.ai found that voice shopping will account for $40 billion in U.S. consumer spending by 2022.

In order for purchasing via voice to hit its stride, it first needs to be convenient – and that is happening.  The Microsoft Voice Report found that, of consumers who made a search using voice, 74% reported the transaction as being fairly easy. Considering that voice search is still a relatively new technology, this is an impressively high figure. This indicates that, as technology improves, vCommerce will continue to rise.

What are Consumers Buying?

In order to understand what consumers are buying, it is first important to understand who these consumers are. According to the Voice Shopping Consumer Adoption Report:

  • Two-thirds of voices shopper are under the age of 45;
  • Men are more likely to shop via voice; and
  • Over 85% of voice purchases were for items under $100.

The Microsoft Voice Report and the Voice Shopping Consumer Adoption Report show similar categories of goods as particularly popular for purchasing via voice:

  • Purchases on Amazon.com;
  • Clothing;
  • Electronics;
  • Home goods, such as toilet paper and cleaning products; and
  • Entertainment, music, and movies

These categories make sense for these early days of voice search given that they are often at a lower price point and don't require the user to communicate intricate details to complete a purchase. As technology improves and adoption increases, we anticipate that most products available online will show up on the list above.

Are you ready to learn more about how to leverage voice in your business?

wayfinding consultants

Check out  Discovered: Dominate online and voice search without wasting time or money

Discovered is the first book of it's kind written for business leaders to understand how to leverage expert techniques to stand out in online and on voice search.

The Role of Intent Marketing in Voice Search

The Role of Intent Marketing in Voice Search

If you are able to effectively implement intent marketing, you may just convince consumers that your company is magic. Intent marketing enables companies to predict what consumers need and their likelihood to purchase – and to pop the right marketing at the right time to enable a purchase. It’s as though you get into their heads and offer up your product exactly when they need it. 

We have provided some information and insights on intent marketing below, including the powerful ways voice search will change and improve intent marketing.  

What is Intent Marketing?

According to Allerin, “intent marketing is an act of identifying a customer’s purpose over that of the brand, and accordingly targeting them, which helps marketers determine what their customers want or need at any point of time…. It enables marketers to find audiences showing interest in a particular brand by leveraging big data strategies.”

It is expected to produce better ROI because you don’t need to create awareness about a product or service in the consumer’s mind before promoting it, you’re simply following their lead. Like Wikipedia states, “consumer’s intent for consuming a product or service may either be predicted based on behavioral data or captured explicitly when the subscriber tries to purchase a product and the transaction has been aborted for some reason.”

Why Should I Care About Intent Marketing?

Intent marketing is focused on analyzing a consumer action to glean their intent to purchase a product or service – and then offering up that product or service in your marketing. This type of marketing allows companies to prioritize consumers whose behavior indicates they are ready to make a purchase. Effective intent marketing allows businesses to focus their marketing efforts on the right customers to turn interest into sales.

How Do You Determine Consumer Intent?

While predicting consumer intent may sound difficult, most businesses have the information they need right at their fingertips. There is one important thing necessary to start understanding your customers and their purchase plans: data. Harnessing the power of data will allow you to analyze the trends and behaviors of your customers over time. 

First, you should focus on data specific to your customers. This data could take many forms, but will likely include:

  • Search engine queries
  • Social media data
  • Campaign traffic driving consumers to your website
  • Whether website visitors are first-time visitors or whether they have visited multiple times
  • Dwell time on specific content on your website
  • Number of clicks on website content

Second, you should pay attention to a broader analysis of consumer intent trends. Given the prominence and effectiveness of intent marketing, significant information is surfacing regarding cues to purchase intent. For example, a search query that includes the words "buy" or "purchase" might be more likely to lead to a conversion than those that include statements like "what information do I need" or "how can I learn about."

The Potential of Voice Search in Intent Marketing

There is no doubt that voice search is exploding in accuracy and popularity. The accuracy rates for voice search queries are improving rapidly, with 90% accuracy reported on major platforms.  Adoption is also on the rise, with 67 million voice-assisted devices predicted to be in use in the U.S. in 2019. Given the prominence of voice on mobile devices, it is also important to note that nearly 60% of searches are now being performed from mobile devices.

With the increase in voice search, it is important to consider how it might provide new cues to consumer intent. Voice search naturally alters consumer search behavior. When a consumer uses speech for search, they are more likely to use their natural speaking pattern. Consider a consumer who wants information on New York Times bestselling books. In a search engine, they might simply type "New York Time bestseller list". If they were to speak this query, you would be more likely to hear something like "What books are on the New York Times bestseller list?"  The mechanism for the search has altered their behavior.

With the use of more natural language comes the ability to understand more about consumer intent. Every additional term used by the consumer is a context clue to their purchase intent. Think of the types of data discussed above. We noted that language like "buy" or "purchase" are more likely to lead to a conversion. In what type of search is a consumer more likely to use that language? The odds are much higher in voice search.

Are you ready to learn more about how to leverage voice in your business?

wayfinding consultants

Check out  Discovered: Dominate online and voice search without wasting time or money

Discovered is the first book of it's kind written for business leaders to understand how to leverage expert techniques to stand out in online and on voice search.

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