The digital revolution is entering its next phase: voice activation assistants in the home. With the introduction of Amazon Alexa and Google Home, online shopping and product research will become even easier for consumers.
The popularity of voice activated assistants has grown significantly in the last few years. Major improvements to mobile services Siri, Cortana and Google Now has been a major boost. And with the emergence of Amazon Echo and Google Home, voice instructions will be the new way to shop.
It is estimated that 35.6 million Americans are already using voice-activated devices at least once a month. According to eMarketer, usage is expected to grow by 23.1 in 2017. That equates to one on five consumers.VoiceLabs estimates 33 million voice activated devices will be shipped to households in 2017. Amazon Alexa is expected to be the leader having already secured a 70.6% chunk of the market. Now Google Home has teamed up with Walmart, there could be a fight back.
Amazon is arguably the most convenient shopping space online. Using Echo and other Alexa-touting devices to make shopping easy pickings will make shopping even more convenient.
Furthermore, because Amazon has already ceased a giant share of the market, analysts are predicting revenues of over $10 billion by 2020. Consumers have already said that once they invest in an activated assistant, they are unlikely to change.
Google is likely to have more of a say on the matter, but right now, Amazon has ceased the gauntlet and is tying Alexa in with its Prime service. Not only that, but the company is offering free returns on eligible goods.
Small businesses that use Amazon’s platform to boost profits have huge potential to leverage sales. Alexa allows customers to reorder existing products, add new products to their shopping cart and alert them to new products.
However, for small businesses to take advantage of voice technology, it is advisable to use additional marketing channels. Blogs, social media, SMS, and push notifications are all low-cost tactics you can use to raise product awareness and communicate with customers.
Having powerful tools is all well and good, but if you don’t know how to capitalize from the technology, there is no point making the investment in the first place. So read on.
Online business owners should already be collecting and analyzing consumer data. Amazon gives you even more business intelligence you can use to your advantage.
With access to transaction data and real-time purchases, there is a potential for small businesses to segment customer’s habits, identify trends, track store performance and build market insights.
You can then use this data to create special offers that will be highly competitive on the Amazon platform. Capturing new customers and locking them into repeat sales is Alexa’s golden egg.
By creating market insights and individual shopping habits, you can then use other marketing channels to raise awareness of your products and deals. The quickest route to consumers is SMS, but social networks and blogs also enable you to reach a wider audience.
To leverage profits through Amazon, small businesses should be looking to capitalize on repeat orders. The purpose of voice activated assistants is convenience and the technology is more likely to convince consumers to remain loyal to brands.
Small businesses that already have customers using Alexa-enabled devices should focus on getting them signed up to your account. Offer discounts to customers when they purchase your products through Amazon’s voice assisted device.
As an additional incentive to regular customers, why not tie your customer loyalty program to Amazon purchases. You can then use data from the loyalty program to tempt customers with higher incentive purchases.
Small businesses should also be looking to use Amazon’s customer feedback data to acquire new customers. The more positive reviews you receive the more visible you are on the platform.
Furthermore, you can use the feedback to be transparent, earn consumer trust and improve your services. You can show you have the interests of your customers at heart by actively responding to suggestions and criticism.
As the technology improves, voice activated assistants will be the future of shopping. Consumers want convenience and the ability to purchase products for the best price.
Digital platforms may make running a profitable business more competitive, but it also presents broader opportunities to accrue more customers and grow your business.