Talk to Ads. The Rise of Voice Marketing: A summary of the exploding voice marketing industry

I dare you to buy a Speaker, TV or Car today that doesn't have a built in voice assistant. The manufacturing industry has to know the inevitable technologies coming down the track, do you?

This post is a summary of the exploding voice marketing industry.

Here are some key takeaways for marketers:

• Voice market opportunity os being realised: Market size is expected to reach $20.4 billion by 2030, up from $4bn in 2024, a significant growth opportunity.
• Tech giants are all-in: Major players like OpenAI, Meta, Google, and Amazon are heavily investing in voice technology.
• Benefits for B2B brands: Improved customer experience, loyalty, and sales.
• Actionable data and better performance: Voice ads offer real-time insights, making media spend work harder and improve ad perception from consumers.

The AI generated voice market is experiencing a fast expansion, estimated to rise in value from around $3BN in 2024 to $20.4BN by 2030 delivering an expected annual growth rate of 37.1% in that period.

Over the course of 2024 we have seen the largest technology companies in the world set out their vision for the future of computer-human engagement (see below).? Amazon is set to announce a massive announcement in October '24 to upgrade Alexa and which will shine a light on their view of the next phase of AI powered voice assistants.

The value of building out a compelling voice channel has long been on the technology roadmap of big tech.? Advances in Large Language Model (LLM) technology has offered a route to this vision being realised.? In technology time is the greatest weapon and this year all the major software vendors have set out their stands:

Open AI goes voice first with launch of Ghat GPT-4o [video demo ] - 13th May and followed with improved voice capability on 25th September [LinkedIn post and video ]

Google fast follows with the launch of ‘Project Astra’ [video demo ] - 14th May

Andreessen Horowitz release their thesis on voice agents [blog ] - 29th May

Amazon releases natural language voice search for TV program discovery [more here ] ‘Super Alexa’ announcement expected in October 2024 [ZDNet ]

Apple announces a huge upgrade for Siri [video ] - 10th June?

Meta releases an upgrade to the voice interface for MetAI voiced by John Cena and Judy Dench 25th September 2024 [Meta release ]

Speaking is likely the first form of communication you learned to explain your wants and desires and is the most emotive way to offer compassion and to build a trusted relationship.? Even when in front of technology we tend to use our voices to communicate complex problems and gain empathy.? Brands have, for a long time been trying to nurture conversations with their customers to tease out the following benefits:

• Improved customer experience
• Increased customer loyalty
• Better reputation
• More satisfied customers
• Increased sales

The team at Say It Now understands the existing, standards based Advertising ecosystem, the problems the industry faces and where voice can play a meaningful part in solving these issues:

Traditional video and audio advertising methods lack the "click" and engagement data that voice offers. Say It Now provides "actionable ads" that allow consumers to interact directly with brands through voice commands, providing real-time, measurable data.

Say It Now’s AI-powered technology allows for the creation, optimisation, and analysis of voice marketing campaigns across multiple platforms, offering an aggregated view on what channels are driving demand and the conversational dynamics that highlights both wasted media spend and opportunities to upweight to engage.

This ease of engagement translates to a significant improvement in-ad performance, with ad perception being 1.8 times higher quality and brand perception being 2 times more innovative than traditional ads.

Say It Now has secured significant traction within the industry, with over 100 top-tier brands like Amazon, Tesco, AmEx, CocaCola, Unilever, Travel Texas and many others keen to pull ahead of their competitors!

As each part of the engagement paradigm improves, rising on the wings of rapid technological improvements, the efficacy of voice powered marketing increases.? This rising tide has the potential to be the most engaging, persuasive communications channel to date.??

Part of this paradigm is marketeers understanding the components that make up a great voice marketing strategy.? That’s the opportunity to get involved with today, to bolster your CV and experience by gaining some exposure to voice. If you have a campaign or idea to execute, please get in touch with [email protected] today.

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