This week’s industry opinion comes from Joel davis, CEO of advertising technology company Might Social and award-winning international entrepreneur and speaker. Davis is an expert in emerging media and marketing platforms. Here he talks to the toy industry about the benefits of having a voice.
Like any other sector, digital has revolutionized and transformed the toy industry. Today, as families’ attention shifts from television to multi-screen consumerism dominated by videos, successful toy brands are the ones rolling out engaging content through social channels.
And now we are on the verge of further disruption as visual aids are joined by voice to accelerate consumers’ search, discovery and information sharing.
Google says voice searches are 30 times more likely to be action queries than text searches. Basically, people want to buy things through their digital assistant. Standard computer searches, on the other hand, may indicate that people are just looking at information, while mobile searches and voice searches are more likely to come from people trying to do something specific.
When you think about it, Voice makes perfect sense. The average human can speak 150 words per minute, but type only 40 during that time. The voice conveys emotion, tone and subtleties that the text cannot.
From a toy marketer’s perspective, voice allows consumers to reframe their searches, make them more granular, and easily share more context around their query. So instead of typing “trending toys,” a similar voice query comes in in more detail, for example; “What is the most popular educational toy for five year olds? “
As voice search continues to gain traction over traditional text queries, the toy industry is likely to see the lines between social media, entertainment, communication, and marketing blur even further. Toy brands must seize this golden opportunity to get closer to their audience.
Improving the consumer experience means being more interactive, engaging and relevant, which requires a better understanding of what parents and gift givers are looking for. Reframing all marketing platforms to capture voice and visual will allow toy brands to better identify what their consumers are actually looking for. This will reduce wasted media and improve the customer experience.
While the world’s 10 largest toy companies account for around a quarter of total toy sales, these companies are much less dominant in terms of market share compared to many other industries. This is probably due to an attachment to traditional marketing methods. It’s the brands that recognize the need to embrace new models of engagement that will likely lead the way.
The toy industry is all about entertainment, education and exploration – a perfect combination for this new era of interaction.