Technology has led to multifold developments that aim to ease our lifestyle. The number of internet users across the globe is at an all-time high. Thus, going by the popularity of use, the internet can be considered a boon to businesses.
With digital marketing and online taking a significant share in total sales, it is hard to miss voice recognition devices’ imprint. The latest e-commerce trends are exploiting the best of these voice-based devices.
At a base level, voice recognition devices are designed to decode the human voice and convert it into text. Now, the journey of voice-recognition software has found its best destination in voice commerce applications. Voice shopping is estimated to reach $20 billion in the U.S. alone by 2022.
What is Voice Commerce?
As indicated by the name itself, voice commerce supports the use of voice commands to complete a selling, buying, ordering, etc., action on an e-commerce website. Whenever a customer places an order through any online channel, they require hardware to input transaction details.
The same result is achieved through voice commerce by the customer issuing verbal commands to a smart device, such as Google voice assistants, Apple’s Siri, and Amazon Alexa. Voice commerce encompasses the order or checking of available products that results in ultimate sales to the business. Henceforth, it is hard for any business to miss the importance of voice commerce.
As of last March, almost 70% of users preferred voice search due to its speed. Similarly, since the ‘90s, millennials and younger generations have overwhelming preferred email when compared to post mail.
Why is Voice Commerce Important?
A simple voice search reached up to heights of voice commerce due to its multiple benefits to both the customer and service provider. Thus, I’ve outlined reasons it is vital for merchants to stay on top of the voice commerce trend in order to ensure your business can best thrive.
1. Ease of use
Imagine being stuck in busy routines but having to buy something meaningful for your use. You do not want to scroll the markets. Hence, opting for voice commerce is the most economical option.
By using voice commerce, customers can view products, choose the best available option, and place an order quickly. The memory of the smart device will add further ease by aiding the speed of the purchase process. Thus, whether you’re new to e-commerce trends or have the slightest knowledge about the technology, you can use voice commerce with a swipe of a “wand”.
Because of its ease of use, up to 35% of adults ages 18–29 prefer voice commerce for their shopping experience.
2. Personalized experience
Every customer wants their demands to be heard. An advantage of voice commerce is that voice search allows a business to track users’ personalized choices in order to improve their future shopping experience.
It further helps businesses to offer the best of their products and services to each customer. Customers will stay longer with any service provider that takes care of their personalized preferences.
3. Enhanced customer engagement
Retaining customers can be an uphill task for any business. With so much exposure to the latest e-commerce trends, the same can be achieved by employing top customer engagement trends.
Voice commerce allows insight into the services. It is the same for all competitors and, thus, requires extra severe steps. It can be improved to ensure customer engagement by introducing an automated chatbot, technical support, and/or reliable customer support.
The introduction of conversational e-commerce, like the various payment methods for quick transactions in voice commerce, is one example of customer engagement.
4. Streamlined catalog
Going by the impact of visual merchandising, the importance of voice commerce covers the best streamlining of the product catalog. It helps the companies to place the right product for the right person at the right time.
The same can be extended to the accessibility of products. Companies can improvise product placement through voice commerce to introduce newcomers to customers based on the voice search.
Voice commerce also helps the customers to go through the highly rated products in one go. While many smart devices are designed to showcase products based on price and ratings, this can set recent e-commerce trends in the same service industry.
Because of this, almost 35% of SMBs in the U.S. have increased their marketing budget for voice channels since 2019.
No customer wants to have a delayed responsive service. Thus, voice commerce ensures quick results in a fraction of seconds. Many argue that the same is true for any digital means, but voice commerce is superior.
You can shortlist voice command results while working at your office or home. The entire buying or selling process is kept fast-paced with zero quality compromise.
6. Quick sales
Middle- and small-size businesses can generate immediate sales from voice search. And, customers with voice-based smart devices in their homes can be converted into potential buyers.
The importance of voice commerce extends to established businesses as well. The smart-looking online interface gets the best audience from voice-based devices. If a company maintains high on its customers’ security, voice commerce can increase sales many folds. It is an ideal source of generating revenue from a new channel.
Modern customers require modern solutions. The provision of the best services to potential customers takes charge of earning fortunes for any business operating in a highly competitive world.
You can train your sales staff for retail sales, but how will you ensure this in online sales? Voice commerce, as an emerging branch of digital marketing, is the answer.
With the challenging times brought on by the COVID-19 pandemic still grappling the world, digital business remains the future. Therefore, every merchant needs to understand the importance of voice commerce to strengthen its hold in the industry through implementing it effectively. Voice commerce is here to stay and will benefit both businesses and customers by offering a best-in-class shopping experience.