Here’s a consumer insight that retailers can etch in stone: if you don't make shopping easy and convenient, consumers will abandon you, and competitors who do it better will swoop in and grab them and their wallets for themselves.
A recent RetailDive mobile commerce newsletter gives further evidence that inconvenience is a killer. It reports a recent study by Splitit, a digital payments solutions company, in which 87% of online shoppers surveyed said they would abandon their shopping carts during checkout if the process was too difficult – with 55% saying they would never return.
Inconvenience also is a killer for consumer research, because consumer research is, in fact, a B2C sell. If this assertion surprises you, it’s time to take a broader view.
Yes, consumer research is, of course, a B2B transaction between research suppliers and their clients. But what’s being supplied and bought is consumer data. And there will be no consumer data, or at least none worth having, if you fail to sell consumers on providing it in an engaged and thoughtful way. So before it can become a B2B offering, consumer research needs to be a B2C success.
If you make it inconvenient for consumers to access research experiences and fail to make those experiences easy and enjoyable, you’ll end up with the equivalent of those abandoned online shopping carts – too few consumers, too little reliable data, and, eventually, not enough business to sustain your research enterprise. Unrepresentative data, insufficient data and unreliable data are certainly beyond-inconvenient to the ultimate consumers of consumer research: the business decision-makers who expect reliable guidance grounded in validated consumer reality.
MFour’s value proposition is quality mobile data made possible by an engaging, pain-free, and seamlessly convenient survey experience for the consumers who download our standard-setting mobile research app. More than 100,000 of our Surveys On The Go® (SOTG) app users have spoken for themselves about their experiences by posting comments and ratings in the Apple and Google Play app stores. SOTG perpetually enjoys an average rating of 4.5 stars out of 5.
Here are other metrics that reflect what our survey-app users' convenience and satisfaction have meant for MFour's clients:
- 25% response rates within an hour, and 50% within one day.
- 95% completion rates for surveys with LOI of 20+ minutes.
- 85% participation in follow-up surveys for consumer diaries and other multi-phase studies.
The takeaway is that the people on our panel are not checked out from consumer research. To learn what that can mean for your specific research projects, just click here.