Audio by Abbi D. using WellSaid Labs
Dive into an extract from our white paper, Make Generative AI Work For You, Using Digital Scalable Voice. Here, we explore the intricate dynamics and potential of generative AI in the business ecosystem.
Interested in the full discussion? Download the white paper here!
In an age dominated by digital communication, the power of voice is often underestimated. Yet, the synergy of generative content with synthetic voiceover is carving out a promising avenue for businesses seeking to amplify their impact. From enhancing user engagement to streamlining operations, here's how organizations are harnessing the potential of advanced voice technology to drive both revenue and cost savings.
Increase Revenue
Combining generative content and synthetic voiceover can unlock new revenue streams for organizations. By incorporating synthetic voiceover into products, services, ads, and workflows, organizations can increase content throughput, customer signup and engagement, and ultimately revenue. In a recent WellSaid Labs study, for voiceovers paired with visual media like video and images, viewers retained 95% of a message, compared to 10% from text alone. Furthermore, customers are more engaged with content when the human parity, or likeness to the sound of human voices, is indistinguishable.
Companies who use their Sonic Identity thoughtfully in addition to visual branding efforts will undoubtedly see an increase in customer conversion. The fact that 25% of people recognize a brand by its unique voice indicates that organizations are starting to use voice to their benefit. Plus, it’s still early– giving them an opportunity to be an early adopter, cutting through digital noise.
And it works: in fact, “cognitive studies show that relevant sounds and musical cues can truly influence people in ways marketers want.” Using a unique voice sound, style, and tone for an organization’s brand is imperative to build out a complete identity that customers can trust and relate to. Below are several use cases where organizations in each industry can add revenue streams by using their Sonic Identity with synthetic voiceover.
Virtual assistants
MOBILE DEVICES, IoT, AUTO
General Motors has announced a new product offering that brings ChatGPT into its operating system so that drivers can interact with a personal assistant in the car. The obvious play here is to expand product offerings and increase GM’s customer base by offering a new and innovative product that doesn’t currently exist on the market. The longer-term play is that with the infrastructure that GM is building to enable a chat bot in the car that renders dynamic content tailored specifically for the driver, comes endless opportunities for curated advertising streams, recommendations on music, audio books, gas and charging stations, attractions, the list goes on.
Revenue Potential: Attain new customers, charge more for additional features.
Immersive listening
MUSIC, AUDIOBOOKS, VIDEOS, & PODCASTS
There are new and exciting applications of Generative AI already in production in the music and podcast industry with synthetic voice and Generative AI. Examples include life-like synthetic radio DJs that use ChatGPT to render relevant information for listeners. Podcast creators and other apps which deliver voiced content like meditation apps are now primed to produce more of what their listeners like because they now have the tools to build at scale. Another key example are video streaming companies like Netflix and YouTube, who can also use synthetic voiceover to automate dubbing in other languages to expand their reach.
Revenue Potential: Expand reach, open new channels for curated advertising.
Information distribution
PUBLICATIONS, NEWS, REPORTS
With human-parity synthetic voiceover, news publications can offer an audio version for each of their articles so that their subscribers can listen while on the go. The end user can even add different articles to a playlist and listen to their own customized content at their convenience. With generative content available in real time, organizations who have access to data on their listeners’ preferred material now have the tools to automatically create curated playlists and advertisements.
Revenue Potential: Increase in-app engagement, and open a new channel for targeted advertising between articles.
Productivity enablement
WEBSITE HOSTING, NO CODE TOOLS
No code tools make it possible for non-developers to create their own apps, similar to how Squarespace made it possible for non-developers to create their own websites. Adding in features like payment functionalities, design tools, widgets, even ChatGPT, and synthetic voice options allows their users to build their own end-to-end customized and fully functional apps.
Revenue Potential: Charge more for increased product functionality.
Drive Cost Savings
In addition to increasing top line revenue, organizations can achieve operational efficiencies and reduce cost center spend by incorporating synthetic voice into their workflows and products. Teams that can streamline their process and workflows easily with Generative AI include learning and development, human resources, marketing communications, corporate training, as well as onboarding.
Driven to produce content quickly and on a budget, leaders continue to evaluate ways to maximize spend efficiencies without sacrificing quality. As a result, they procure technologies that scale production and streamline workflows. For example, companies who need to create marketing videos might have hired an agency to record the human voice over in the past, but now those companies can produce the same high quality voiceover with Generative AI at the fraction of the time and cost.
The talent best equipped to use these new and innovative solutions are digital native professionals. Organizations realize the financial benefits of automating their content and workflows with technology solutions that are made for these young industry professionals.
To decrease cost center spend each year, organizations continue to hire more of this demographic who are able to stay agile with new tools and resources for streamlining content creation. Below are a few examples of industries who benefit from automating content creation using synthetic voice.
Customer support
TRAVEL, HOSPITALITY, RETAIL
With the capabilities of Generative AI, travel metasearch engines like Expedia can streamline their customer support processes. The key value offering of these businesses is the ability to help book, change, and cancel trips. Traditionally, the company would use a set of prompts to answer questions from the caller and when the prompts are no longer useful, a live agent would get on the call. Now, with the newfound capabilities of Generative AI, travel companies can ask the customer more relevant questions, give more accurate answers, and propose alternatives that could trigger new purchases – or even partner with other companies to facilitate targeted ads where appropriate.
Cost Savings: Enhance customer support experience with less staff.
Brand marketing
SMALL BUSINESS OWNERS
Synthetic voiceover enables businesses of all sizes to own their digital marketing efforts and advertising content. People who launch their own eCommerce business, provide personal fitness coaching, or open up a mechanic shop can now access the same quality marketing tools as large corporations with a much larger budget. Since traditional voiceover costs on average 10 times more than synthetic voice solutions, small business owners can save time and money while producing enterprise quality marketing content.
Cost Savings: Save time and money while still getting the same high quality voiceover for external video marketing.
Professional services
FINANCIAL REPORTING, LEGAL ANALYSIS
Legal and financial professionals can now present curated reports and summaries to clients without having to present live in a meeting. Every client can get personalized reporting on a weekly basis and listen to these reports while doing daily tasks, making it easier for them to access and consume the information they want. Professionals can spend their meeting time making plans and strategizing with the client.
Cost Savings: Spend less time reporting and more time strategizing with clients.
Digital training
HEALTHCARE, HR, SAFETY
Healthcare, biotech, industrial, and other sectors in heavily regulated industries rely on corporate training and safety videos to comply with regulation standards. Internal and external training and onboarding videos are more engaging when text and voice are used with video.
Cost Savings: Speed up production times at a fraction of the cost.
Concluding thoughts
Generative AI and synthetic voiceover aren't just the novelties of the tech world. They're transformative tools empowering businesses to redefine their approach to content creation, branding, and user engagement. As the intersection of technology and human interaction becomes more intricate, companies must capitalize on these advancements.
Embracing a Sonic Identity not only paves the way for innovation but also cements a brand's position in the future of business. If this is the dawn of the synthetic voice era, those who tune in early are poised for success.
