Increasing sales revenue for a brand in today’s highly technical marketplace depends heavily upon the implementation of the latest technologies. However, just implementing forward-thinking innovations is not the only key for a business to significantly increase sales revenue. Another main factor that influences revenue scaling success is how well these emerging technologies are integrated into the brand’s marketing and media campaigns.
Some of these innovative technologies that brands have been implementing include:
- Phone Tracking
- UX Tracking
- Voice Technology
A significant benefit these emerging technologies offer to consumers is customer engagement, which is currently in high demand. Consumers today want a closer connection with brands for multiple reasons. Product, service, and brand information without sales representative assistance combined with a seamless user experience are benefits that consumers want in a company they do business with which these technologies can provide.
Increasing Sales Revenue Tips for Success in Today’s Marketplace
This increasing sales revenue tips section explains what these three cutting-edge technologies are, along with some important business and consumer benefits they provide. We will examine the phone and UX tracking first because they are technologies that are integrated for data collection providing the company with valuable statistics that can be used to increase sales revenue. Then we will dive deeper into voice technology because it is a new sales frontier that businesses are implementing. Voice technologies can be extremely effective, especially when used in combination with the data from phone and UX tracking.
A 2020 study conducted by Edison Research discovered that 62% of Americans used some kind of voice assistance technology. This study shows how consumers are changing the way they search for information, products, and services by using a hands-free approach. According to the 2020 Smart Audio Report, 52% of voice-assistant users say they use voice technology several times a day or nearly every day.
These statistics prove people are not just experimenting with these new technologies like voice assistants, they are incorporating them into their daily lives changing their basic way of living. A business’s survival and growth in today’s ever-changing highly technical marketplace depends heavily upon the proper implementation of these cutting-edge technologies. Hopefully, this section on increasing sales revenue tips for success in today’s marketplace provides a better understanding of how these emerging technologies can increase sales revenue.
Phone Tracking Technologies Gather Valuable Data
Phone tracking is a technology that tracks calls and web forms providing the business with analytical data. This data should be analyzed and used to optimize marketing efforts for increased sales revenue. This type of call tracking data allows a business to optimize their marketing efforts resulting in a higher percentage of sales conversions. When combining the data phone tracking can provide with voice assistant technology, powerful automation strategies can be created for increasing sales revenue.
What is UX Tracking & How Can It Provide Business Benefits?
UX tracking is an emerging technology that can provide many benefits for a business. According to a February 2021 article published by uxcam on statistics that emphasize the relevance of UX design, 88% of users are less likely to return to a website after a bad user experience. UX tracking provides a more complete picture of how users actually experience a website. A business that uses UX tracking data to design an optimum user experience that integrates voice technologies can raise the user experience quality exponentially.
Voice Technology is One of the Most Powerful Emerging Technologies
Voice technology is not a new concept or technology, however, because of new usability developments voice technology has many new expanded applications reaching a broader range of consumers. The capabilities this innovative technology provides are still being discovered. Voice technology has many undiscovered potentials that will continue to advance this technology as they surface.
Many devices that consumers use can be greatly improved with voice technology integration, making them more responsive and intelligent. Voice recognition technology creates a direct communication channel between humans and computerized devices providing a new way of interaction.
Wondering how to increase sales revenue using voice assistants? Voice assistants are being integrated by businesses into devices they offer to provide the user with the ability to complete many tasks hands-free. Searching for and accessing content and resources is much easier for users when voice interaction is being used. This is resulting in lasting consumer behavioral changes that industries must account for.
Voice Technology is Being Used at Work and at Home
Businesses are using voice technology to lower customer care costs by providing automated real-time voice-assisted solutions for their customers. Some of these solutions include:
- Voice assistants' ability to connect and engage with consumers in real-time increasing sales revenue by creating a personalized experience
- Voice assistants’ ability to answer questions increases sales revenue because users do not go to a competitor's website for the info and then make their product or service purchases
- Voice assistants increase sales revenue by offering users foreign language options
- Voice assistant technologies can expand the market by selling products globally increasing the customer base and sales revenue
Consumers are using voice assistants at home because insightful businesses are integrating them into their websites, products, and services. This strategically positions these brands as leaders in their industry as they stay in front of the market by providing the latest technologies.
The rate voice technologies are being used by consumers has grown faster than the rate of people that own smartphones. According to statistics Variety published in an article on voice technology being the next big thing, by 2023 voice commerce is predicted to hit $80 billion, with its uses advancing rapidly as it becomes the desired entryway for consuming video content.
It is easy to see that for a business to stay competitive in this quickly evolving highly technical environment it must take advantage of opportunities created by implementing these forward-thinking technologies. Savvy brands that utilize these tips to increase sales revenue with voice assistant technology will help ensure future growth.
An Example of Brands Successfully Using Voice Technology
Whirlpool® is one of these forward-thinking brands that has successfully integrated voice technology into some of their appliances providing the consumer with voice control capabilities. This feature allows consumers to easily check the oven timer and handle other cooking tasks with a hands-free voice-activated experience. You can start a wash cycle from the other room using simple voice commands, or just scan a barcode on supported food items to automatically send cooking instructions straight to the oven or microwave.
Focus group sessions held in March 2018 by PwC found that only 10% of surveyed respondents were not familiar with voice-enabled products and devices. Of the 90% that were familiar with voice technology, 72% reported they have used a voice assistant. Adoption of voice technology is being driven by younger consumers, households with children, and households with a net income higher than $100k. These statistics and quickly changing consumer behavior highlight urgent reasons why businesses must implement these innovative strategies, like voice technology, to remain successful.
Emerging Technologies are Critical for Business Success
These emerging technologies are available for any size business. Small businesses can take advantage of these technologies as well as major brands. Implementing them, especially the use of voice technology, is critical for business success and increasing sales revenue because of consumer demands. Demand is high among consumers since these technologies help to eliminate human redundancies and provide a seamless experience when using the product or service resulting in superior efficiency, and productivity.
Consumers are searching for these benefits and will connect with brands that are providing them, whether it is you or your competitor. Statistics show that consumers have adopted virtual assistant use from the product research phase through the delivery stage for both products and service purchases. Click here for information about the voice technology solutions that True Reply offers and for information on how to launch voice experiences to increase sales revenue with voice technology.