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The modern business landscape demands a global approach to communications. This is why many companies have turned to Voice over Internet Protocol or VoIP software to connect with stakeholders, staff members, and customers worldwide. Not only does it allow them to make communication more convenient, but it also enables them to make it more cost-effective as it doesn’t incur surcharges beyond what you pay for the VoIP service and your internet access.

The only question now is, with the emergence of newer communication channels, will VoIP evolve in order to keep up with the times? Will it remain as relevant to business operations in the coming years?

To find out, we have gathered some of the most noteworthy VoIP statistics of 2019. From general market research to forecasts on industry challenges, this compilation should provide you with a clearer view of where VoIP is headed in the coming years as well as how you can best utilize these tools for your operations.

voip statistics

General VoIP Market Statistics

Since its humble beginnings back in the ’90s, the VoIP market has certainly reached new heights, and it is predicted to grow even more in the coming years. This comes as no surprise with the emergence of mobile VoIP and the expansion of internet access across the globe.

  • 1 billion – mobile VOIP users in 2017 [1]
  • 3 billion – projected mobile VOIP users by 2021 [1]
  • $77.4 billion – global VOIP market share in 2018 [1]
  • $93.2 billion – projected global VOIP market share by 2024 [1]
  • $194.5 billion – projected global VOIP revenue by 2024 [2]
  • $14 billion – total revenue of VOIP industry in the US in 2019 [3]
  • 1,519 – total number of VOIP businesses in the US in 2019 [3]
  • -3.6% – the average annual growth rate of VOIP businesses in the US from 2014-2019 [3]
  • 31,072 – workers employed by the VOIP industry in the US, 2019 [3]
  • 28% – CAGR of the global mobile VoIP market from 2016 to 2020. [4]
  • The global VoIP phone system market share is projected to grow at a CAGR of 3.1% between 2019 and 2024. [5]
  • $90 billion – Android OS share of mobile VOIP market, dominating other platforms [1]
  • 17% – the growth rate of computer-to-phone VOIP services from 2019-2025, the highest among VOIP services [1]
  • $80 billion – projected revenue of Managed IP PBX in 2024, the highest share among global VOIP services [2]
  • 15.3% – CAGR of Managed IP PBX service segment from 2016-2024 [2]
  • 7.8% – CAGR of hosted business IP PBX service segment for 2016-2024 [2]
  • $124 billion – projected revenue from long-distance VOIP through 2024 [2]
  • Experts predict that the fastest growing VoIP segment from 2014 to 2019 is phone-to-phone services. [6]
  • 204.8 billion – VOIP users by 2020. Growth attributed to positive government policies and cost-efficiency of VOIP [1]
  • 25 – operators who have launched 5G service, expected to double by 2020. This will further boost the demand for VOIP services. [1]
  • The Asia Pacific is primed to be the biggest VoIP services market with projected revenue of $100 billion by the end of 2024. [2]
  • 14% – projected CAGR of the VOIP market in the Asia Pacific by 2024 [2]
  • 34 million – VOIP users in the US, the highest in the world. [7]
  • 31 million – VOIP users in Japan, second highest in the world. [7]
  • 22 million – VOIP users in France, third highest in the world after the US and Japan [7]
  • Computer-to-phone VoIP services will experience its highest market growth between 2017 and 2024. [2]
  • Bring-Your-Own-Device – a major driver of VOIP growth [8]

Source: spectrumvoip.com

VoIP Usage Statistics

More and more VoIP providers are offering their services at affordable prices. This is why a larger number of individuals and businesses are now able to leverage it for their work or their business, and it seems that the number is about to get bigger in the coming years. This can be attributed to the many benefits that the platform has to offer as well as the demand to shift from on-premise to cloud-hosted software solutions over the past few years.

Call Activity

  • 22% of businesses that have a toll-free number [9]
  • 400 minutes – average employee  call consumption per month [9]
  • 3 – the average number of VOIP phone menu call options [9]
  • 89% – phone menus allow callers to enter an extension [9]
  • 15 seconds – the average length of phone menu greetings [9]
  • 90 seconds – average time callers hold before hanging up phones [9]
  • 36 seconds – average time callers hold until connected [9]

Migration from on-premise to VOIP installation

  • 50% of IT leaders ceased purchasing on-premise communications tools in 2018. [10]
  • 90% of IT leaders will cease purchasing on-premise communication tools by the end of 2021. [10]
  • 204.8 billion – projected corporate VoIP subscribers worldwide in 2020. [6]
  • The United States VoIP residential telephone lines have increased from 28 million in 2010 to 76.6 million in 2018. Consequently, business phone lines also expanded from 6.2 million to 41.6 million during the same period. [11]
  • Global VoIP subscriptions increased due to the number of individuals and businesses who want to reduce communication costs. [12]

VoIP Cost and Savings Statistics

Statistics don’t lie. VoIP is a godsend to companies that are trying to reduce their operational expenses. This communication system allows businesses to reinforce how they connect with other people without compromising their budgets. In addition, it is also great for improving productivity in the workplace as it boosts the mobility of agents.

  • 40% – local call savings made by small businesses that switched to VoIP phone service  [13]
  • 90% – international cost savings made by small businesses that switched to VOIP phones service [13]
  • 90% – reduction in startup cost for small businesses that use VOIP [13]
  • 30% – reduction in teleconferencing expenses by integrating voice and online conferencing capabilities [14]
  • $1,200 – savings per month by businesses with 30 users using a new VOIP system [14]
  • $1,727 – business savings per month on mobile and long-distance calls using softphones—calls over VOIP using a computer [14]
  • Businesses can save up to 75% on communication if they opt for VoIP. [15]
  • Having a VoIP system can help you save an average of 32 call minutes per day. [16]
  • VoIP makes it easy to accommodate calls anywhere, allowing companies to increase productivity by up to 20%. [14]

Savings and Benefits from Business VOIP Features

  • 47% – businesses have implemented SMS over VOIP [9]
  • 74% – employees who use mobile app for business calls over VOIP [9]
  • 68% – average small business savings from bundling their uses into VOIP usage-based plan
  • 0 – typical setup cost for a VOIP cloud phone [9]
  • $20,000 – average setup cost for on-premise phone system [9]

VoIP cost & savings

VoIP and Technology Statistics

VoIP is far from reaching its full potential. However, it is important to note that it is gradually changing because of newer technological advancements. This is why it is important to understand how you can integrate these innovations into your current workflow to make the most out of your investment. But, of course, don’t simply rely on new technology. Be sure to also apply VoIP best practices to reap the benefits that they have to offer.

  • Android OS is predicted to dominate mobile VoIP by 2024, with a projected market share of $90 billion. [17]
  • The increasing popularity of the Bring-Your-Own-Device (BYOD) strategy in businesses is driving the growth of VoIP in North America. [18]
  • Experts forecast that by 2025, AI with chatbots will drive 95% of customer interactions. [19]
  • The prevalence of 5G has increased significantly. As of 2018, 72 operators have tested the service, and by the end of 2019, 25 operations will have already launched the service. This figure is projected to double by 2020. [8]

VoIP and technology

Small Business VoIP Data Statistics

Phone systems serve a purpose not just for large corporations but for small startups as well. VoIP levels the playing field for small businesses as it helps them accommodate their clients in a timely manner without having to increase their workforce or pay a lot of money for international calls. What’s more, there’s a myriad of VoIP software for small businesses available on the market that cater to different kinds of industries.

The only downside here is that VoIP systems are not created to be all-in-one communication hubs. As you will see below, this is the reason why many businesses are considering using their VoIP with unified communication platforms.

  • The top VoIP features that improve productivity for small businesses are Find Me/Follow Me (77%), conference calling (65%), and mobile IP PBX (58%). [20]
  • VoIP has helped small businesses improve the handling of phone calls (67%), boost the management of messages (63%), and perform work remotely (57%). [20]
  • Unified communications still have a significant or moderate value for 88% of employees. [20]
  • Unified communications platforms are deemed to deliver the best benefit to small companies. [20]
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Top VoIP Features & Benefits According to Small Businesses

Top VoIP Features & Benefits According to Small Businesses
Find Me/Follow Me: %

Find Me/Follow Me

%
Top VoIP Features & Benefits According to Small Businesses
Conference Calling: %

Conference Calling

%
Top VoIP Features & Benefits According to Small Businesses
Mobile IP PBX: %

Mobile IP PBX

%
Top VoIP Features & Benefits According to Small Businesses
Handling phone calls: %

Handling phone calls

%
Top VoIP Features & Benefits According to Small Businesses
Managing messages: %

Managing messages

%
Top VoIP Features & Benefits According to Small Businesses
Remote work: %

Remote work

%

Source: Spectrum VoIP

Designed by

Most Popular VoIP Software

  1. RingCentral. An award-winning VoIP platform that’s easy to set up and use, offering a wide range of functionalities that businesses need for their operations. You can know more about this solution with this RingCentral review.
  2. Slack. Offers a comprehensive VoIP-based platform that streamlines business communications. This Slack review offers a complete detailed discussion of its features and pricing.
  3. 8×8 VoIP Phone Service. Cloud-hosted VoIP business phone service system that offers mobile, flexible solutions for anywhere, 24/7 access. For more details, read this 8×8 VoIP Phone Service review.
  4. Lifesize. A cloud-based all-in-one VoIP communications suite that thousands of businesses worldwide turn to for their video conferencing needs. Our Lifesize review discusses its features and other important details.
  5. Skype. Considered as one of the best VoIP platforms, it offers a host of communications solutions and collaboration functionalities. For more information, check out our definitive Skype review.

VoIP Challenges Statistics

Like any other technology, VoIP has its weaknesses. To work your way around them, it is not enough to simply know how SaaS works but also what kinds of challenges you will encounter in the industry.

As you will see from the statistics below, security is one of the biggest issues with VoIP. While the use of the internet for transmitting calls makes communicating cheap and convenient, it also makes you more vulnerable to cyber-attacks. This is why it is crucial that you reinforce your VoIP system with the necessary security measures offered by top cybersecurity vendors so that the integrity of your information, as well as the details of your customers, remain safe and sound.

  • Roughly 46% of illegally made calls across the world involve VoIP technology. [21]
  • Toll fraud and dial-through fraud are estimated to cost shoppers globally, an average of $46 billion dollars. [22]
  • Only 38% of individuals believe that they are equipped to counter cyber-attacks.
  • 40% of internet users have experienced getting their password stolen, account hacked, and login credentials compromised. [23]

VoIP challenges

Another problem you might encounter is the adoption of VoIP in the workplace. You should anticipate that calling, via voice or video, is not deemed as the best way to collaborate in the office. Below, you’ll find that more CEOs are pushing for personal interactions to boost employee engagement. In addition, millennials, the generation comprising the majority of the modern workforce, simply prefer less disruptive means of communication.

  • Most CEOs avoid utilizing phone conferences unless completely necessary. So much so that 61% of their hours are allocated to face-to-face interactions and only 15% for calls. [24]
  • 72% of the millennial generation believe that calls are not the most efficient channel for resolving customer concerns. [25]
  • 75% of millennials do not like making or taking phone calls because of its time-consuming nature. [26]

Lastly, in terms of using VoIP for customer support, more and more shoppers are opting for self-service options. Simply put, not everyone wants to deal with agents when resolving product or service issues and would rather find solutions on their own. With this said, it might be time to invest not only in VoIP but also in unified communications systems that would allow you to support multiple channels.

  • 6 out of 10 American shoppers opt to use self-service tools for their concerns. These include websites (24%), mobile apps (14%), voice response systems (13%), or online chat (12%). [27]
  • Professionals predict that an average of 85% of business relationships will be handled sans human interaction by the year 2020. [28]

What Do These VoIP Facts Mean for Your Business?

The statistics make it clear: now is the time to upgrade from traditional phone systems to VoIP if you haven’t already.

VoIP allows you to take advantage of the impact of SaaS on businesses. As discussed earlier, these communication systems are great for keeping up with the globalization of the modern business landscape. It bridges the gap between managers and remote employees and allows businesses to connect with customers residing halfway around the world, especially now that an increasing number of individuals and businesses are utilizing the system. Moreover, it allows you to make the communications aspect of your operations more cost-effective than ever.

In case you are already utilizing a VoIP system, we highly suggest that you maximize it by understanding the factors that drive the industry. For example, BYOD is something that you might consider using for your operations to boost employee efficiency. Investing in mobile-ready systems might also allow you to simplify work for remote employees. And if  Skype is the only VoIP tool you know, you’re missing out on the robust features these Skype alternatives deliver.

One thing to note about VoIP systems, however, is that while it undeniably offers a plethora of benefits, it has its own set of weaknesses. The biggest one of which is that it makes you vulnerable to security risks. In addition, it might not be enough to reinforce your communication needs.

After all, there are quite a number of emerging communication channels today. While VoIP systems may easily be able to accommodate voice calls and video calls, not all providers can give you access to instant messaging and built-in SMS. With these said, you might want to dig a little deeper into the inclusions of the VoIP software you’re interested in or find out what integrations you may use to expand the functionalities of your existing system.

Hopefully, with this guide to the VoIP statistics of 2019, you were able to get a better idea of how you can better adapt to the tectonic shifts in the industry. To further help you expand your product choices, you can check this related list of top business phone systems.

 


References:

  1. ^VOIP Adoption Statistics for 2019 & Beyond
  2. ^Global Market Study on VoIP Services
  3. ^VoIP industry
  4. ^Global Mobile VoIP Market 2016-2020
  5. ^Global VoIP Market 2019 by Company, Regions, Type and Application, Forecast to 2024
  6. ^VOIP Services Market: Global Industry Analysis and Opportunity Assessment 2015 – 2025
  7. ^Countries by number of Voice over Internet Protocol (VoIP) subscribers in 1Q 2013
  8. ^5G: The new network arrives
  9. ^The Cost Benefits of Switching to a VoIP Service
  10. ^The State of the Unified Communications Market in 2018
  11. ^VoIP residential and business telephone lines in the U.S. 2010-2018
  12. ^BuddeComm Intelligence Report – Global OTT VoIP and Messaging Services Market
  13. ^5 Reasons VoIP is Essential for Business Today
  14. ^13 VoIP Statistics to Build a Business Case
  15. ^An Introduction to VoIP and its Cost Savings
  16. ^Cisco Unified Communications
  17. ^Mobile VoIP Market Analysis
  18. ^Global VoIP Services Market is Expected to be Valued at US$ 194.5 Bn by 2024
  19. ^How Artificial Intelligence Will Shape The Future of VoIP & UC
  20. ^Compelling Voice over IP Statistics to Build Your Business Case
  21. ^2017 Lineup: VoIP Technology, Tools and Trends
  22. ^VoIP Fraud Analysis
  23. ^Password Statistics: The Bad, the Worse and the Ugly
  24. ^THE LEADER’S CALENDAR
  25. ^Desk Customer Service Across Generational Divide Report
  26. ^WHY MILLENNIALS HATE TALKING ON THE PHONE
  27. ^#WellActually, Americans Say Customer Service is Better Than Ever
  28. ^10 reasons why AI-powered, automated customer service is the future

 

Marketing has always had a love affair with technology, from the advent of radio to boob tube, to billboards and print ads. But even these technologies seem puny now with the arrival of the internet, which changes the whole paradigm of marketing altogether. Coupled with revolutionary design ideas and astounding computing and programming developments, marketing software has leapfrogged to territories unknown, accompanied by ubiquitous, connected devices and social platforms that have businesses and their marketers scrambling for ideas on how to mine these newfound sources of wealth. Here, we present data beyond marketing software market share. These and other marketing software statistics show you which way to go when deciding how to best harness these technologies for your own marketing campaigns.

key marketing statistics

1. General Marketing Software Statistics

The marketing automation software industry is poised for further growth, with the sector expected to reach a total value of $14.15 billion by 2024 at a CAGR of 19.2%. This is seen to be partly fueled by factors such as increased spending on marketing services and companies’ increased investments in Internet marketing. Also seen to influence this market growth is the uptick in Internet penetration and the number of social media users. Also, the demand for better customer experience has resulted in businesses investing in marketing automation software.

  • $14.15 billion – The estimated total value of the marketing automation software market in 2024. [1]
  • The marketing automation market is seen to grow at a CAGR of 19.2% from 2019 to 2024.
  • $457.07 billion – The total spending on marketing services in 2017.[1]
  • 68.4% of incoming emails during 2017 were classified as promotions. [1]
  • 57.2% of China’s advertising spendings went to the Internet in 2017. [1]
  • 55% of marketing executives are planning to increase spending on marketing technology. [2]
  • 40% of companies who do not use marketing automation software are planning to invest in one in the next 12 months. [3]
  • 63% of businesses that achieved success in marketing automation plan to boost their marketing automation budgets. [4]

2. AI-Driven Marketing Statistics

Arguably the engine behind the growth in marketing software market size, artificial intelligence (AI) may well unlock the final pieces of the marketing puzzle, the key that connects many if not most of the developments trending in the marketing industry. If you are wondering how AI could help your marketing become more effective, you can turn to how the savviest marketers leverage AI to inform them about which content gain more followers and piques more interest in social media, along with which days and the time to post the content and on which platform—Facebook, Instagram, Twitter and the like. With more money pouring into marketing software research, AI can take care of automating the posting and provides the metrics and analytics for each activity, allowing you to measure the effectivity of the campaign and relate it to your ROI.

  • 40% of digital transformation and 100% of IoT will be supported by AI. [5]
  • $12 trillion – The estimated amount of money that insights-driven teams will take from their uninformed peers in 2020. [6]
  • 43% of Millennials are willing to pay for a hybrid-bot customer service channel. [7]
  • $1 billion – Netflix’s total savings from using machine learning to make personalized recommendations. [8]
  • $14 trillion – The estimated additional revenue that AI is seen to create by 2035.
  • 63% of B2B marketers are not using AI. [9]
  • 71% of marketers are interested in using AI for personalization. [9]
  • 60% of marketers think AI is useful in data strategies. [9]
  • 59% of B2B marketers expect to utilize AI in prospect identification. [9]
  • By registering the highest year-on-year growth rate at 53%, AI has claimed the crown as the fastest growing marketing technology. [10]
  • AI is spearheading the march of smart technologies (the so-called Holy Grail of marketing: artificial intelligence, virtual reality marketing, internet of things marketing, augmented reality marketing and voice assistance marketing) as companies spend $227 million on it, representing 66% of total expenditures for smart technologies [11]
  • The average use, planned use and projected growth of AI use cases has increased 257% in the last two years [12]
  • With 2.77 billion people using social media, Facebook, Instagram, and Twitter rely on AI to make sense of data
  • More than half (51%) of marketers currently use AI, with 27% more of them are expected to incorporate the technology by 2019 [13]

Most Popular Marketing Software

  1. HubSpot Marketing. A popular all-in-one marketing solution that tackles automation, lead management, content management, and social media monitoring. Learn more about this product in our HubSpot Marketing review.
  2. Pardot. A popular B2B marketing automation software that comes with functions for lead generation, sales alignment, and email marketing. For more information, check this in-depth Pardot review.
  3. monday.com. A collaboration and communication system that can be configured to map out marketing campaigns and streamline sales pipelines. To learn more about this product, see this monday.com review.
  4. Marketing Creatio. A CRM tool with an intuitive multi-channel marketing module that can support email marketing, content marketing, as well as lead nurturing. Check out its complete feature set in this Marketing Creatio review.
  5. TUNE. A marketing platform for managing partner programs but also offers tools for campaign optimization, email management, and lead generation. Learn how else this product works in our TUNE review.

3. Marketing with Chatbots Statistics

Chatbots seem to counter marketing software push for a more personalized approach and for a clear reason: these bots are more eager, faster, and more persistent than their human counterparts to engage customers in conversation. With more than 1.4 billion people already interacting with chatbots [14], it is no wonder that marketers are turning a sharp eye on these denizens as vehicles for their marketing campaigns. The fact that customers are not averse to the whole idea works in their favor too:

  • 85% of businesses in Brazil have been found to message businesses in the last three months. [15]
  • 67% of people say their messaging has increased in the last two years. [15]
  • 80% of adults message daily. [15]
  • 78% of smartphone users around the world are seen to message every month by 2021. [15]
  • 20 billion – The total number of messages exchanged on messenger each month. [16]
  • Over 59% of users say messaging businesses provide them with faster response times. [16]
  • 64% of people around the world say they are always messaging. [16]
  • How far chatbots will move into the human territory is still up in the air, but right now, up to 80% of companies are looking to employ the technology in their marketing activities [17]
  • Kik and Facebook already employ at least 30,000 bots as of the last count [18]
  • 73% of customers prefer to talk with Facebook Messenger bots through live chat than with human agents [19]
  • Sales, financial services and customer service could save $174 billion through chatbots [18]
  • Bots are already making the grade on Facebook Messenger. Its Discover platform populated by bots is its major source of income. Advertisers and their bots compete with one another, but Messenger has the last say on which ones can eventually stay [19]
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Top 5 Industries Using Chatbots (2017-2019)

Top 5 Industries Using Chatbots (2017-2019)
Real Estate: 28

Real Estate

%
Top 5 Industries Using Chatbots (2017-2019)
Travel: 16

Travel

%
Top 5 Industries Using Chatbots (2017-2019)
Education: 14

Education

%
Top 5 Industries Using Chatbots (2017-2019)
Healthcare: 10

Healthcare

%
Top 5 Industries Using Chatbots (2017-2019)
Finance: 5

Finance

%

Source: Collect.chat

Designed by

4. Interactive Video Marketing Statistics

One of the least hyped marketing software facts is how interactive videos are finding their way in emails, social media posts, websites, and blogs. At this early stage, 90% of Americans believe that content will be better in 360 video than standard formats [20], and as much as 98% think they are more exciting. People are simply captivated by the novelty of being able to navigate the area presented in the video as if they were there themselves. For their impressive early returns and yet still largely unexplored promise, interactive marketing videos will radically transform, perhaps even disrupt, the marketing landscape. People who view them tend to finish the whole video, resulting in a higher commitment and return on investment.

  • 81% of companies use video as a marketing tool. [21]
  • 100% – The yearly rise in mobile video consumption.
  • 64% of consumers purchase after watching branded social videos.
  • 1.8 million words – The equivalent of a 1-minute video to audiences. [22]
  • 4+ – The average number of videos that marketers create every month.
  • Video will make up 80% of global Internet traffic by 2019. [23]
  • 66% – The additional qualified leads that video marketers get. [24]
    5 million years – The time it would take an individual to watch videos that will cross global IP networks in 2021.[23]
  • For these remarkable results, the use of interactive videos for marketing is already gaining acceptance [25], with such brands as IBM, Honda, Samsung, and Johnnie Walker among early adopters.
  • Interactive video content generates 2x more conversions than passive content. [26]
  • 79% of marketers say that interactive content has reusable value, creating repeat visitors, and multiple exposures. [27]
  • Interactive content generates 4—5 times more page views than static content. [28]

5. Personalized Marketing Statistics

As more people, especially the younger generation, become more willing to share personal information, companies are able to offer recommendations that better match their customers’ preferences. At the heart of this development is a more powerful artificial intelligence software, with more capable computer hardware able to support more sophisticated algorithms. More than 96% of marketers already see the value of personalized marketing [29], with multiple case studies and concrete results to support it. As for consumers, the attitude towards sharing personal information, as already noted, is showing some positive signs:

  • 80% of frequent shoppers say they only shop with brands who personalize their experience. [30]
  • 91% of consumers are more likely to purchase from brands providing relevant recommendations and offers. [31]
  • Consumers are 40% more likely to view recommended items based on information shared with the brand. [32]
  • 80% of consumers are more likely to buy a product or service from a company that provides a personalized experience. [33]
  • 72% of customers engage only with marketing messages that are customized to meet their individual interests. [30]
  • 47% of customers will go to Amazon if the brand they’re shopping with does not offer relevant product recommendations. [30]
  • 89% of digital companies are investing in personalization. [34]
  • Many eCommerce establishments are already ahead in enhancing customer experience, some combining the agility of chatbots with consummate regards for customer personalization on online stores. [35]
  • 92% of marketers say personalization highly or moderately improves brand building [12]
  • 74% of online consumers get annoyed by websites when ads and other offers that have nothing to do with their interests suddenly pop up
  • For best-in-class B2B content marketers, 71% match their content to the profile of the decision-maker [36]

Personalization in Marketing (2019)

Customers' Preferences and Marketers' Perceptions

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Source: Salesforce

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6. Voice Search Marketing Statistics

Smartphones, Google Home, and Amazon Echo are pointing marketers to voice search as a legitimate avenue to increase their sales if current marketing software data is to be believed. While voice-activated devices have always piqued the interest of technology buffs and are a staple of science fiction, it is only now that it has achieved an amazing level of precision [37], consequently earning the attention of marketing people.

  • 20% of consumers have made at least one voice purchase using a digital home assistant. [38]
  • 20% of voice-based orders involved grocery shopping. [39]
  • 77% of parents who own voice-activated speakers have planned to shop using those devices. [40]
  • Voice assistant users spend 3% of their disposable income through voice search assistants. [41]
  • 18% – The forecast increase in consumer spending using voice search assistants by 2022. [41]
  • While text search still reigns supreme, voice search is slowly and surely making inroads, with experts predicting that in 2020, 50% of all searches will be via voice search [42]
  • By 2020, there will be 25.6 million owners of smart speakers, representing a 12.8% growth rate from the previous year, further driving the use of voice search for marketers. Also, consider that the average growth rate for the period 2018 to 2020 would be 48% [43]
  • In 2022, people who use voice search are projected to create a sales revenue of $5 billion in the UK and $40 billion in the US alone [44]
  • 58% of smart speaker owners earn more than $75,000 per year, which makes them most likely to shop via voice search [45]

Keep tabs on insights that matter to your business

So which of these marketing developments are on your immediate sights and plan of action? If you have a considerable business war chest to play with, it’s easy to go with marketing platforms that offer the most powerful AI among its features, if only to provide more meaningful interactions with leads or customers and gain unparalleled business intelligence into your operations.

Employing chatbots will be your main option if you are more of a social media marketer and especially if Facebook and Instagram are your channels of choice. Bots are getting quite competitive there (as many marketing software charts will show you), and you want the best that technology can offer when you join the fray. Many of the top live chat apps already employ a chatbot.

More ingenious marketers will probably go for voice search-driven content and take it from there. They can use tools for search marketing to fortify their organic positions. Enhanced personalization is more in the territory of technical experts, though nothing stops anyone from trying the technology for their enterprises. It’s a solid technology too, with proven cases to support its standing.

Whatever your choice, you have to look carefully into the nature of your business and the best software for the budget that you can work with, with clear options to scale any which way you want as your business also picks up.

 


References:

  1. ^The World Market for Marketing Automation Software, 2019
  2. ^Global Business Technographics Marketing Survey, 2018
  3. ^Survey: What are the Benefits of Marketing Automation?
  4. ^Marketing Automation Strategies for Sustaining Success
  5. ^Top 10 tech predictions for 2017 from IDC
  6. ^Insights-Driven Businesses Will Take $1.2 Trillion A Year By 2020
  7. ^How AI is pushing man and machine closer together
  8. ^McKinsey’s State Of Machine Learning And AI, 2017
  9. ^THE STATE OF ARTIFICIAL INTELLIGENCE IN B2B MARKETING
  10. ^3 Marketing Trends Every SMB Should Tap Into Now
  11. ^Report Benchmarks Smart Tech Marketing, Finds It’s Growing Fast
  12. ^Need-to-Know Marketing Statistics for 2019
  13. ^AI Marketing Report 2018
  14. ^Mobile Messaging to Reach 1.4 Billion Worldwide in 2015
  15. ^Why Messaging Businesses is the New Normal
  16. ^3 Ways Messaging Is Transforming the Path to Purchase
  17. ^80% of businesses want chatbots by 2020
  18. ^CHATBOTS 101
  19. ^How Facebook Messenger Bots Are Revolutionizing Business
  20. ^360 Ads Are Better!
  21. ^The State of Video Marketing in 2020
  22. ^Is Your Company Giving Video The Love It Deserves?
  23. ^Cisco Annual Internet Report (2018–2023) White Paper
  24. ^The Ultimate List of Marketing Statistics for 2020
  25. ^See how brands and publishers use OmniVirt
  26. ^Interactive Content Generates 2x More Conversions Than Passive Content
  27. ^8 Interactive Content Statistics to Guide Your Marketing Spend in 2017
  28. ^4 Types of Social Media Content That Drive Engagement
  29. ^How to Increase Sales by Personalizing the Customer Experience
  30. ^Privacy & Personalization
  31. ^2018 PERSONALIZATION PULSE CHECK
  32. ^Ads That Don’t Overstep
  33. ^New Epsilon research
  34. ^Transform Your Personalization Strategy At Forrester’s Consumer Marketing Forum
  35. ^Chatbot Personalization: Good & Bad Examples Show Why It’s Needed to Improve Customer Experience
  36. ^B2C Content Marketing
  37. ^What Happens When Online Impacts Life Offline: The Big Takeaways From the 2018 Internet Trends Report
  38. ^The Future of Retail 2018
  39. ^Voice Shopping Set to Jump to $40 Billion By 2022, Rising From $2 Billion Today
  40. ^Voice Search
  41. ^Conversational Commerce: Why consumers are embracing voice assistants in their lives
  42. ^The future of voice search: 2020 and beyond
  43. ^US Smart Speaker Voice Buyers Penetration 2017-2020
  44. ^Voice Shopping to Reach $40 Billion in U.S. and $5 Billion in UK by 2022
  45. ^CapTech Research: A Profile of Smart Speaker Users