Did You Get That? Optimizing Marketing with Speech Recognition
As marketers, we know there’s no shortage of means for reaching the customers in our categories, but the responsibility remains on us to continue seeking new tactics to produce the greatest impact possible.
Many of the solutions to the challenges in front of the marketing community lie in speech recognition. A key component to a promising future of voice technology, which is expected to grow $3.2 billion to $5.4 billion by 2026, speech recognition forges a bridge with marketing applications. To that end, practitioners are well positioned to redefine what it truly means to reach their customers, ultimately contributing to overall gains in company merit.
So, where specifically are the opportunities for marketers to combat forthcoming challenges related to speech recognition and drive business value? Speech recognition can help marketers collaborate more efficiently, share insights with customers more clearly, and get time back by automating manual labor.
Collaborate more efficiently
Workplace models are dispersed. Some companies are executing their return-to-office plans while others toy with permanent remote work, moving us to a more firm hybrid setup. But processes like video and audio meetings remain essential, and for marketing teams who habitually apply jargon in meetings and presentations to stakeholders to demonstrate value behind their strategies and plans, speech recognition is an asset.
With speech-to-text capabilities, decision makers can review note transcriptions or parts of a presentation, allowing them to better understand what their marketing partners are putting in front of them and to make informed decisions. This allows marketers to amplify their value and execute on their initiatives for reaching and interacting with new customers.
Share insights with customers more clearly
With digital content playing such an important role in marketing strategies, marketers are tasked with churning out video content at a fast clip. Speech recognition can reduce turnaround time for video processing and editing and therefore support shorter timelines for distributing important content. Ultimately, this means an opportunity to find and share insights more clearly, which gives your audience a better chance of understanding and retaining your key messaging.
“There are a lot of great minds making a lot of great points on webinars, conference panels, and more, but if those points get lost, a lot of value obviously gets left on the table,” says Mari Joller, founder and CEO of Snackable AI, a machine-learning based audio content search engine. “50% of event viewers don’t even watch when the event first airs.”
“If you’re the marketer in charge of that content and you make sure the world receives that valuable insight, you’re a hero. Better speech recognition is the first thing that helps you — the better the transcript, the more accurate and easily accessible the insights. You also need to find them faster, and AI is just as critical for instantly mining through hours of content to reveal the gold.”
Get time back with less manual labor
Collecting and analyzing customer feedback are marketing functions supplemental to strategy that, while important to success, can be time-consuming. What’s more, they are risky, as manual processes increase the likelihood of human error that can lead to inaccurate assessments. However, with speech recognition integrated into daily workflows and, in these circumstances, providing accurate transcriptions of audio files containing customer feedback sourced via calls and other audio means, these processes can be optimized.
With the removal of human intervention, marketers can earn well-deserved time back and use it to focus on other aspects of their roles, fostering growth for themselves and their company. This, all while building better marketing communication informed by the most accurate customer feedback possible.
The onus is on the builders of speech recognition to maximize the technology’s value, but marketers must also be aware of the technology’s possibilities to reap its benefits. Ultimately, for marketers, skillfully deploying speech recognition tech is one step on the path to reaching as many customers as possible with the most compelling brand narratives.
David Keene is Chief Marketing Officer at Speechmatics.