Opportunity Cost: [noun] Economics – the loss of potential gain from other alternatives when one alternative is chosen.
That’s an important definition to remember, especially when it comes to voiceover actors.
Across the board, advertisers are cutting budgets. According to Gartner’s Annual CMO Spend Survey, the average marketing budget for 2024 is down 15% at 7.7% of a company’s total revenue. Production companies, advertising agencies, as well as in-house teams are trying achieve the same goals with less budget and cutting back wherever possible. In the arena of advertising media, production budgets are often the first on the chopping block. While we have more tools than ever before to explore engagement with the media we create, there are so many intangibles when it comes to those video and audio segments that we might not see in a standard analytics report.
Production budget cuts mean that there’s less money to hire talented professionals to execute. While low budget production here and there can be fine (particularly on social media platforms), advertisements in general are the most successful when executed by talented professionals. And for voiceover talent? As a result of tightened budgets, we’re seeing a huge rise in both paid and free tools for AI generated voiceover. As actors, it’s a hard pill to swallow knowing some companies are opting for AI-generated voiceover, but a necessary one. We’ll need to figure out the balance between where AI voiceover can be used, and where we still need the connection and relatability of a real human voice.
While AI voiceover might seem like an attractive alternative to hiring qualified voiceover talent when budgets are low, the question remains: what’s the opportunity cost?
Is AI Truly an Alternative for Voiceover?
At first glance, AI voiceover tools seem like a budget-friendly shortcut, especially in a time when every penny is being micromanaged for ROI. AI can churn out scripts in a matter of minutes for practically free, without needing breaks or really… anything, since AI voiceover isn’t actually a human. This inexpensive quick-return can make it super tempting for a production manager to consider when they’re facing shrinking budgets. But what’s often overlooked is the impact this has on the quality of the work—and more importantly, the connection brands make with their audiences.
Consumer Trust and Human Connection
Recent data paints a clear picture of why human voices in media matter so much. According to Audacy’s Innovation Tracker (June 2024), people are more than twice as likely to trust a human voice (55%) over AI-generated content (23%).
This trust isn’t just a fleeting preference; it’s rooted in how the human brain is wired. The limbic system, the part of the brain responsible for emotions and memory, reacts differently to human voices. Voices that convey emotion and nuance can forge a deeper, more memorable and relatable connection with the listener. And when you’re trying to create a memorable brand? That connection is *everything*.
AI voices, on the other hand, while improving in their ability to mimic human intonation, lack the organic, emotional qualities that help a message truly resonate. This is particularly important in advertising, where trust and authenticity play critical roles in consumer decision-making.
Why Does This Matter for Your Brand?
Let’s look at the statistics from this Sprout Social article:
64% of consumers say their loyalty to a brand increases when they feel connected.
76% of consumers say they would buy from a brand they feel connected to over a competitor’s brand.
57% say they are more likely to increase how much they spend with a brand when they feel connected.
When consumers don’t feel connected to a brand, 70% are less likely to shop there over a competitor’s business, and 61% will spend less with that business.
A voice isn’t just a medium for delivering information; it’s part of your brand’s identity. It’s what listeners remember long after the ad is over.
In the words of Maya Angelou: “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”
A talented voiceover actor, just like an actor in an award-winning movie, has the power to impact how your audience feels.
When you use AI to voice your ads, not only do you risk sounding robotic and impersonal, which can undermine the trust your audience places in your brand. But you potentially can significantly decrease the ROI of your production at large.
Your brand’s voice is the gateway to building relationships with your audience. If that voice lacks warmth, emotion, and authenticity, what kind of connection are you fostering? Will consumers remember your ad as just another robotic soundbite contributing to the noise of their day, or will they walk away with a sense of trust and familiarity, feeling connected and ready to deepen the bond with your brand, whether that’s by making a purchase, subscribing to your e-mail list or referring your products or services to someone else that needs them.
Authentic voices foster connection. Robotic voices? Not so much.
It’s important to acknowledge that the majority of consumers are still wary of AI. According to KPMG.com, 61% of people are hesitant to trust AI in general. This apprehension naturally extends to AI-generated content, including voiceovers.
Why Does Emotional Connection Matter So Much in Media?
The human voice has a powerful ability to trigger emotional responses, thanks to the limbic system, the part of the brain that processes emotions and memories. When we hear a human voice, especially one rich in tone and emotion, our limbic system is activated, fostering feelings of trust and comfort. This emotional connection plays a crucial role in decision-making, especially in consumer behavior.
Simon Sinek breaks this down well in this short video where he talks about human emotion and connectedness, the limbic system and how these control consumer behavior.
People are far more likely to make purchasing decisions when they feel emotionally connected to a brand, and a warm, relatable voice can do so much to enhance that connection.
AI-generated voices, despite technological advancements, just don’t create the same emotional response, making them less effective at building trust and influencing consumer choices. AI-generated voices don’t have the same subtle emotional cues and nuances that make human voices trustworthy. And with AI being such a new technology? Not a lot of consumers trust it. Remember: only 23% of people trust AI-generated content.
At the end of the day, while less expensive, AI is also less effective at building long-term trust and influencing consumer choices.
The Real Cost of Low Budget Voiceover
The opportunity cost of choosing AI over human voiceover actors is more than just dollars and cents—it’s the potential loss of connection with your audience. When you opt for AI voiceover, you might save on the initial production cost, but you’re risking long-term damage to your brand’s credibility and the trust consumers place in you.
Hire high-value human talent, because down the road if you make compromises in your budget by using AI, you’re almost always guaranteed to pay for it somewhere else – and unfortunately based on the data it seems very likely it will be in consumer trust. By investing in voices that bring human connection, you can open doors to new opportunities in every arena. A professional voiceover actor doesn’t just deliver lines—they convey the heart of your brand, fostering trust and leaving a lasting impact on your audience.
