Follow me on LinkedInFollow me on TwitterFollow me on FacebookFollow me on Facebook
Categories
text-to-speech-the-opportunity-for-finance-brands

Text-to-speech: The opportunity for finance brands

Article

1 month ago

1 month ago

AI

Share

Learn how AI is unlocking greater accessibility in emerging voice-activated technologies such as text-to-speech. Plus, how financial marketers can drive greater audience engagement.

The penetration of audio streaming services is up greatly compared to past years. Three-quarters of U.S. adults listened to streamed audio in the past month – up 27% in the past five years.

Listeners are streaming for far longer than ever before. And we’re not only talking about music and podcasts on Spotify.

According to recent studies across the globe:

  • 86% of people in China own a smart speaker
  • 66% of smart speaker owners in the U.S. listen to news
  • 43% of these say they listen to more news now that they have a smart speaker
  • 22% more UK adults owned a smart speaker in 2023 versus 2020
  • Nearly a quarter (23%) of smart speaker owners use voice search in their cars.

Amid this growing opportunity, the fast-emerging field of text-to-speech (TTS) audio is something financial marketers can use to enhance their strategy.

What is text-to-speech (TTS) audio?

Text-to-speech (TTS) is a type of assistive technology that reads digital text out loud, such as PDFs and website content using AI voices.

TTS tools are widely available for most digital devices. For example, users can download TTS apps on smartphones and digital tablets. They can also support individuals – such as the visually impaired – who have difficulties with reading.

‘Reaching audiences through different channels is key’

The Dubs Agency’s executive creative director, Tristan Fawley says, “The strong growth in smart speakers, and by extension the need for better text-to-speech tools, is likely to continue, particularly as AI-led technologies rapidly become more commonplace.

“ Each time a generative search tool ups its game, it helps users to get more context and ultimately find the information they are looking for.”

“It stands to reason we’ve been having conversations with our finance brands about how they can capitalise on new opportunities.

Fawley adds, “Reaching audiences through different channels is key to building a multi-touchpoint strategy. As audiences are consuming content in a variety of formats, content delivery needs to evolve to meet these needs.”

AI-led developments keep coming

As recently as last week, we saw an exciting change in TTS.

OpenAI just released a new feature, appropriately called “Read Aloud”. It lets users listen to a chatbot’s response to their prompt, rather than having to read it for themselves.

The Read Aloud mode can automatically detect the language of the text it needs to vocalise, providing accurate pronunciation and delivering a seamless experience for international users.

This AI-led innovation could also come in useful for many marketers who can utilise ChatGPT while on the go.

How else can TTS enhance my finance marketing strategy?

Financial marketers have an opportunity to use AI-based voice-activation technologies to their advantage.

After all, AI-powered marketing can boost ROI by up to 150% according to PwC research.

Start by defining your goals and metrics before delving into specific tactics and ensure they align with wider full-funnel marketing objectives.

A content audit can identify whether devices can find your existing content and that language is accessible. List-style formats have also worked well in such devices.

Implementing TTS in articles is another way to do this, as it can unlock greater accessibility and distribution via smart speakers.

Innovations such as Read Aloud show the potential to use AI integration to expand reach and interaction with content.

And with this, there’s the opportunity for brands to use these tools to get more cut through.

Related Articles

Subscribe

News and analysis for Financial Marketers

Visit The Dubs agency

The publisher of the Financial Marketer

thedubs.com

The financialmarketer is the publishing arm for the dubs

The Dubs is the content marketing agency for the finance sector globally.