Yes, Your Company Needs a Strategy for Voice Technology, And . . .
Voice, while it is an exciting space, can also be daunting. You’ve heard it said, “voice is the future”. We at Moonshot believe that to be true. Voice is frictionless and fast. We speak over 3 times faster than we can type. And technology and artificial intelligence capabilities continue to rapidly improve.
Why businesses are cautious to embrace voice, however, doesn’t escape us. As Bradley Metrock put it in his latest post on HBR,
Much like the web back in the ’90s, voice represents a vast blue ocean of possibilities and potential.
From UX design we’ve learned that infinite possibilities and potential, makes for decision paralysis. You don’t want to make a bad investment but you certainly don’t want to get caught flat-footed by not evolving with the times.
And not evolving with the times will cost you. As Metrock noted, a recent report from Forbes shows that by major publishers failing to help consumers buy the books they want via voice, they could lose as much $17 million over the course of 2019. Which if we break that down, is $46,000 per day. But it gets worse. Those losses are projected to balloon to upwards of $50 million in 2020, now less than one year away. And that’s just the publishing industry. Soon every company will be expected to have a voice-first presence.
What other technology is transforming computing by providing a natural means of interaction? Voice offers real solutions to our problems. Moving us away from having to “think, type, scroll” for answers, and moving towards our natural way of just having to “think, ask, listen” for answers.
So how do you build your strategy for voice?
We recommend design sprints.
A design sprint is a test-and-learn tool we use to help businesses mitigate the risks and costs associated with developing a new product or experience in a way that puts people first.
Our team uses design sprints as part of our broader methodology known as FUEL, a process for solving complex, open-ended problems that don’t have a “right” answer. With design sprints, our team partners with you to co-create and rapidly develop product ideas, create a minimum lovable product (MLP), and test it against customer feedback to determine market fit. The best part? All of this is done within 4 days instead of months or years.
To really stand out from the crowd, your voice experience needs to add value. Whether that’s a utilitarian value or entertainment value, a people-centric approach will set you and your brand up for success in this fast-paced world. The earlier you can get your product into the user’s hands the better product you’ll create. It’s through learnings and an iterative approach that we find market and people fit.
Moonshot works with enterprises and startups to develop lovable products that use voice-based technology. Reach out if you need help defining your voice strategy. We’d love to partner up and help you bring lovable voice experiences to life. After all, voice is projected to drive $11.7 billion in business to consumer revenue. And in order to take advantage of this revenue-driving growth opportunity, you have to show up.