Retail makes up the largest category of internet ad spending, representing about 21 percent of total revenues, or roughly $15 billion annually. Contrary to popular belief, people still prefer to shop in stores instead of online, over 90 percent of consumer retail happens in the store. That’s trillions of dollars spent in the real world versus $294 billion online. That’s why the development of cost-per-(store)-visit ad models (CPV) are possibly very significant. Read More
In short, yes. Every single day you pull up your mobile device browser for a quick search, and the first site you click on immediately throws an ad in front of the site content. Sometimes a minute or so after you’ve been scrolling through content the ad pops up. You can try to hit the “x” as quickly as possible but, so many times, it’s in vain; your finger is too big, the ad is written in an out of date language so the “x” isn’t even on the screen or it magically moves from the right to the left corner, causing you to click on the ad. It’s reported that around 50 percent of the traffic generated by these interstitial ads are accidental clicks. Read More
With the mobile ad market booming in 2013, Nuance has potentially developed the next best thing- Voice Ads.
The ability to chat with ads will work off the internet connection of iOS or Android devices. This new technology is described as being similar to how iPhone users talk to Siri.
When will we start seeing Voice Ads?
Voice Ad technology is currently available through a few app developers’ mobile ad frameworks. These app developers will embed an ad framework into the mobile apps they create and will be distributed. This new concept of two-way communication through a mobile ad requires only “yes” and “no” answers- at least for now. With voice-recognition technology, Nuance believes this turns a new page for advertising.
What does Voice Ad mean for advertisers?
By allowing consumers to talk with a brand, taking action requires very little effort. A consumer no longer has to “click on the banner for more information” or jot down a phone number. They are now being given the opportunity to engage in conversation.
If a consumer is actually engaging in a live conversation with a mobile ad, they are likely to feel closer to the brand itself. The more your audience is engaged, the more connected they’re going to feel to that product or brand. This may sound silly, but it truly is building a relationship.
What does the future hold?
For Voice Ad to catch on, Nuance’s new technology is going to need to provide a great and unbeatable experience. There is a very unique potential here, and we think it’s going to take off faster than Facebook replaced MySpace (too soon?).
With mobile advertising expected to hit $11.4 billion in revenue this year, we might see voice recognition technology in apps taking a large chunk of that. If business owners are encouraging potential customers to have a conversation with their ad, the sales potentials are one of a kind. Consumers will likely see this as better than speaking with a salesman and easier than trying to quickly click links.
As people become more used to communicating with their virtual personal assistants, Voice Ad should have no problem telling the old mobile ad to move over.