It's decision time for your stakeholders.

The nation's largest first-party panel, Surveys On The Go®, showed U.S. foot traffic had already dropped 92%; even before lockdowns started. 

Consumers are in quarantine. Budgets are cut. Production is halted. So, what’s next, and how do we stay afloat? 

You have questions. Here are answers...

After speaking with 100’s of our clients since March 11th, we found a pattern in our conversations... 3 questions... asked over and over. We wanted to help, so...

Here is our effort to answer them.

Top Covid-19 Research Question #1:

How do we get digital insights from consumers... right now?

California, New York, and Illinois are already on lockdown.

This throws a wrench into many traditional forms of market research. 

Yet, consumers haven't stopped spending. They’ve shifted their focus online and to apps that allow them to still buy, such as Amazon, UberEats, Netflix and more. 

Now is the time to be looking at consumers’ digital path to purchase, so you can impact sales and improve revenue. 

Answer: Survey consumers who shop with you (or your competitors) digitally.

We know your consumers' app behaviors. 

Here’s how. 

Surveys On The Go, can see all of the apps on consumers' phones. It's given permission, by the people who download it, to do so. When they download a new app, or access one, you'll have access to see their digital data.

This helps your company remain digitally connected. For example... If you’re in the restaurant space, you can reach out to your consumers who have:

1. The UberEats or GrubHub app installed on their phone
2. Recently been to your restaurant or a competitor's restaurant

You can then survey on a variety of things. Ask questions to improve channels, messaging, and product strategy for the digital path to purchase. It's still possible to access sales, if the business can be nimble and adapt to a more digital model.

Learn how to get digital event surveys.

Top Covid-19 Research Question #2:

How do we protect sales, with consumers stuck at home?

Your business has likely felt an impact.

Regardless of what you produce, the economic climate has changed. The result has been the split of two main categories:

1. Essentials, such as household supplies are up in sales.
2. Non-Essentials, such as casual dining are down in sales.

It’s left researchers with questions, such as:

• Will these trends continue?
• For how long, and how much will we be impacted?
• How can we increase sales under these circumstances?

Answer: Double down on social media ads and social media ad testing.

Consumers are spending more time on their smartphones than before the outbreak. Online shopping is up 46% (in categories such as clothing and home decor), but the biggest uptick is in time spent on social media platforms.

To reach consumers, and increase sales, try their social streams.

With advertising budgets cut across the nation, the cost of running ads on social media is actually down right now, which makes it a great opportunity.

Since social media is the best way to reach your consumers (for the foreseeable future, at least), it makes sense that you’ll need to test messaging and concepts and get real validated opinions and feedback from your consumers, in real-time.

How social ad testing works...

You can choose your audience from 10 million daily consumer journeys. These are panelists who use Surveys on the Go®, the highest-rated app for market research.

Then, launch and collect passive data on your social media ad. You’ll see:

• Visibility time and reach
• Time spent viewing the ad
• If they liked and/or clicked on it
• Whether they tapped to expand the display
• If they turned on the audio or viewed on mute

After you’ve collected passive behavior, you can do a survey to understand their motivation. Take your target audience through the following questions:

• Do they remember the ad?
• What brands do they recall seeing?
• Is the content likable? distinctive? memorable?
• Does the ad create favorable impressions of your brand and push a purchase?

If the ad’s a hit, then you’ve got a proven, scalable campaign. Or, if it needs to be revised, there's now direct feedback and a way to retest the ad for primetime.

Learn more about social ad testing.

Top Covid-19 Research Question #3:

How can we monitor consumer behavior if it's changing daily?

Consumer behavior has changed.

And, it’s evolving, from week to week. Behavior will continue to change as conditions worsen (or better), as different states take certain precautions, and as major competitors change the way they market.

So, how can you monitor behavior, if it’s constantly changing?

Answer: A mobile tracker (that captures location and digital behaviors).

You need a way to keep in touch with your consumers every move.

What you're looking for, is a way to:

• See where consumers are going in real-time
  (and compare be able to measure it against historically logged locations)
  
  
• See what apps consumers are accessing in real-time
  (and which apps they have installed and which new ones they’re downloading)
  
  
• Target and survey based on mixed location or digital behaviors.

In a time like this, visibility is everything. 

A mobile tracker looks at consumer behavior over time, and eliminates the noise that comes with constant changes. It shares brand perception, and uses a validated, first-party panel to show your market’s digital behaviors and mobile behaviors.

Learn more about always-on mobile trackers.

Start impacting digital sales

Our market research team is here to brainstorm with you. 

If you’re facing a challenge, chances are, we’ve seen it – and can help. We’ve helped the largest brands and market research companies in the world.  

Call us at (714) 754-1234, or send us an email: solutions@mfour.com. 

We’re here to help.

Start a new market research project

Big-Box retail is up 32%. Restaurants are down 121%.

The economy demands we take Coronavirus seriously.

Here’s why. On March 10, the Dow dropped 1,200 points. This came a day after the World Health Organization (WHO) declared Coronavirus a global pandemic.

So, what does that mean?

Coronavirus is sickening the stock market. And we need to get out ahead of it in order to protect ourselves from a recession. Protect yourself from a rapid decrease in consumer spending. Use research.

Be looking at buying behavior, and how to influence it in your favor.

Consumer spend is dying

We tracked real consumers for 30 days. In one month, they dramatically decreased shopping and being social. Figure 1 below shows how much they’ve changed due to the virus.

Figure 1: High-Traffic Visits: February vs. March 2020

Figure 1: percent change was used to calculate increase/decrease from February to March waves.

These same people are now limiting time with friends and family by 92% and 74% are working remotely. When consumer spending is 73% of the economy, that’s a big problem.

Are your products sold in-stores?

Focus on what you can control.

If you sell clothing, or home décor, your in-store revenue will shrink.

We saw in-store home décor purchases among our consumer group drop 31%. Clothes fell 32%. But, hope isn’t lost. That same group is now buying online, where there’s a 46% increase in visits. They’re changing behavior: saying “no” to stores, but “yes” to online.

Take advantage of what they’re telling you. They’re still willing to buy, but they want to do it from the perceived safety and comfort of their own home. Act on what they’re asking for.

Do you sell food or home supplies?

Business is doing well here.

We tracked consumer visits to Walmart, Target, Sam’s Club and Costco using the Surveys On The Go® app. All visits were down in January and most of February. But then, the World Health Organization (WHO) announced Coronavirus is a global pandemic¹ the week of February 20^th.

An instant jump in Figure 2 below. Consumers are stocking up for a potential quarantine.

Figure 2: Tracked Visits to Big Box Retailers from 1/1/20 to 3/4/20

Figure 2: percent change was used to calculate increase/decrease from week over week from 1/1 through 2/26.

Methodology

Survey sent to 1,133 US consumers, male (48%) and female (52%) aged 18-44 years old. Participants were screened on knowledge of Coronavirus and a retailer visit within 30 days. Percent change was used to calculate increase/decrease from week over week from 1/1 to 2/26. Qualified respondents received a 13-question survey. Location-based behavioral data was collected via the Surveys On The Go® app through GPS permissions, examining with a visit between January 1^st and March 4^th, 2020.

What they're buying

Immediately, there’s a demand for hand sanitizer (80%), household supplies (65%), nonperishable foods (49%), and face masks (35%).

And because consumers are preparing for two to four weeks, we’re seeing the buying shift at big box retailers, where they can buy in bulk. So, if you’re in the market to sell any of these items, now is the time to pull the levers on your supply chain to make more – and quickly.

What’s next?

No one knows.

Prepare by tracking consumers over time, so you’re not caught off guard. The economic situation is changing quickly. You want to stay ahead of the competition – as well as a potential recession. Take time to think through the questions you need answered, by your consumers, and then ask them.

Research is more important than ever. This is the time to take stock of your market position.

Need help?

We’re researching the impact of COVID-19 now for clients. If you want to know the impact on your marketplace, let’s look at it together. For the full research report, or for assistance, email solutions@mfour.com.

For a Full Copy of the Research Report click here to contact MFour.

References:

1. https://www.cnbc.com/2020/03/10/dow-futures-point-to-a-loss-of-more-than-400-points-after-tuesdays-surge.html

Elaina, O'Mahoney, VP of Product at MFour Mobile Research, is nominated for OC Women in Business Award, through OC Business Journal

MFour's Elaina O’Mahoney, VP of Product, has been nominated for the OC Business Journal Women in Business (WIB) Awards.

Featuring the top businesswomen in Orange County, the WIB Awards is a distinct recognition for O’Mahoney, who brings more than a decade of experience leading product teams in the technology sector.

Under her leadership, the product team has seen a 35% gain in productivity. Elaina is also actively managing the redesign of one of the App Stores’ most successful apps, Surveys On The Go® which ranks in the top 100 apps in the Lifestyle Section.

O’Mahoney holds a Bachelor's degree in Business Administration from Colorado State University and is working on a Master's in Business Administration at Maryville University. Apart from work, Elaina loves to travel and spend at-home time with family. We are excited to see Elaina nominated for her fantastic work!

Coronavirus is a consumervirus.

It’s as deadly to the economy, as it is to people.

In less than two months, COVID-19¹ has ravaged the U.S. economy, savagly infecting consumer behavior as it spreads around the world. And, according to Oxford Economics, it’s estimated the virus will likely lead to $1 trillion in global losses² before it’s stopped.

Here’s why that matters.

Consumer spending in the U.S. accounts for about 70%³ of the economy. That’s a massive amount of balance precariously placed on the health of consumer behavior. Any move in the wrong direction, and we find ourselves in a very painful predicament.

Our economy depends on China. A lot.

The U.S. supply chain is very closely tied to China. And the American Chamber of Commerce in Shanghai has found that 78% of American companies don’t have enough staff to resume full production⁴. Nearly half said the shutdowns are impacting their global supply chains.

On Feb. 1, Apple closed all of its retail stores, and offices in China ⁵.

The impact on consumerism is clear, especially in technology. China makes roughly half of the world’s LCD panels for TVs, laptops, and computer monitors. Its economic impact⁶ is expected The longer Coronavirus is in play, the greater the impact will be.to be worse than:

• 2003 outbreak of SARS
• 2011 Fukushima nuclear disaster
• 2011 Thailand floods

What we found in researching consumers

“We’re seeing the early impact on consumer behavior,” says Jeff Harrelson, COO at MFour. “Eighty-six percent of our consumer panel is limiting social interaction. Travel is social. So, we’d expect other high-traffic businesses to feel the effects³, as the outbreak continues.”

Research highlights from the Surveys On The Go® consumer panel:

• 38% airport decline was observed through GPS tracking on panelists’ smartphones
• 72% of panelists expected the concern of Coronavirus to last more than two months
• 86% planned to limit social interactions, or visits to public places, as a preventive step

This means COVID-19 caused a 38% drop in U.S. consumer behavior.

In early January, the first death⁷ linked to COVID-19 was reported. Consumers took notice. Two weeks later, MFour traced its consumer panel’s visitation to the top 10 U.S. airports. Using the market research app, Surveys On The Go®, the company found a 38% decline in airport visits. The drop correlates to the first reported Coronavirus case in the U.S⁸.

The behavioral data tells us travel was much more impacted than what was stated in the surveys we ran. This is why watching what consumers do is more important than just surveying. As we tracked people, we saw up to a 38% dip in travel, compared to the 23% that was stated in surveys. That’s a 15% shift in behavior, observed by tracking their locations.

Research was conducted comparing visitation to top 10 US airports by MFour's consumer panel.  Examined Jan - Feb 2019 vs. same period 2020.  

For a full copy of the Research Reports click here to contact MFour.

References:

1. https://www.cdc.gov/coronavirus/2019-ncov/faq.html
2. https://www.oxfordeconomics.com/my-oxford/publications/537166
3. https://fivethirtyeight.blogs.nytimes.com/2010/09/19/consumer-spending-and-the-economy/
4. https://www.amcham-shanghai.org/en/article/supply-chains-and-factory-openings-amcham-shanghai-mini-survey
5. https://qz.com/1800540/how-coronavirus-is-upending-the-tech-industrys-supply-chain/
6. https://www.wsj.com/articles/commentary-supply-chain-risks-from-the-coronavirus-demand-immediate-action-11582054704
7. https://apnews.com/c0e87e089a89fa5579e1c63acded7d46
8. https://www.cdc.gov/media/releases/2020/p0121-novel-coronavirus-travel-case.html

Hint: Size isn't everything. Panel performance is.

When it comes to market research, we look at panel size for feasibility.

Right?

Wrong. What we want are the right people to take our surveys. See, what matters most when we're trying to conduct research is reaching our target audience. We want to know the number of completes we're going to get. 

I'll show you what I mean. 

Say you engage with a vendor who has a panel of 10 million people. They’re going to have a great response rate. Right? Not so fast. This panel only gets a 1% response rate.

10,000,000 x 1% = 100,000.

Uh oh.

That’s pretty small.

And it means that size isn't everything. Activity is.

So what is an active panelist? The AAPOR defines an active panelist as having participated in at least one survey or updated his/her profile in the last year. As such, panel size depends greatly on the status of a member.

This means that when it comes to panel size, consumer engagement is what counts. That's why the days of online panel groups are numbered (read the eBook) and why mobile research is where the value is. The secret is to work with a panel who wants to give you feedback, not a consumer who thinks they're ignoring email spam.

See, consumers who want to take your survey, and are incentivized to do so – they engage and become active.

That engagement can mean 100,000 completes or more.

Surveys On The Go®,  the nation's largest, first-party consumer panel, pays people to take surveys. These are consumers you need. They're representative and engaged, because they are paid to be.  Surveys On The Go® is a market research app, so we see where consumers shop, what phones they own, and what they do on their phones.

Look at who's in the app:

And they're ready to give you data. To the tune of 50% completes in under 24 hours of sending a survey.

You’re a lot more likely to reach the completes you need with an engaged panel. So, the next time you’re getting ready to field a survey, think about who you want to reach. Do you want a representative sample?

Surveys On The Go® is the largest, first-party panel in the US. The surveys are sent directly to the app on their phones. And because consumers are paid cash to share their data, they are happy to do so. Clients get a representative sample. Consumers get cash.

Everyone wins.

To learn more about our consumer panel, or see where they're shopping right now, visit our path to purchase page: www.mfour.com/consumer-panel. 

The average US adult spends 2 hours 55 minutes a day on their phone.

About 90% of that time is spent in apps. So, why is market research still done online? An online customer survey in today's smartphone world is a beach in the dead of winter: cold, quiet, and deserted.

Consumers have migrated.

They're not waiting for a survey to hit their inbox. Right now, they're on a smartphone in an app, and sharing feedback with companies who are willing to listen to what they have to say. Want to reach them? Follow these tips:

Tip #1: Be timely

People are busy. 

Customer surveys are often irrelevant - taking place long after an event occurs. Today's consumer expects instant results. Our surveys should be the same and sent out within 24 hours of a purchase. Let's take an example:

Shelly goes to Walmart.

She has a grocery list. It doesn't include diet coke. She walks out with a case anyway. If you're Coca-Cola, you'd probably like to know what prompted her to buy a diet coke. Should this survey be sent next week?

No.

By the time next week rolls around, Shelly can't remember when, and maybe even why, she bought the coke. By sending Shelly a customer survey within 24 hours of her purchase, she remembers her shopping trip, any ads she may have seen, and can now retrace her path to purchase.

Tip #2: Get personal

It's happened to all of us.

You're called by a wrong name, or see your name misspelled. It's impersonal, and it sucks. The same can be said for sending blanket customer surveys. The average survey response rate is 33%. That's a pretty low number, and it's likely because we're taking a shotgun approach: trying to talk to everyone the same way, at the same time. 

Market research must evolve. We have the technology now to marry surveys and data. You can see who passed your location, what they bought, and why they didn't choose a competitor. Use that technology to get personal with your consumers. Segment them and reach out accordingly, and you're likely to see a big difference.

Tip #3: Make it easy

Meet consumers where they are.

If adults spend 90% of their phone time on an app, consider connecting there. You may want to look into using a mobile consumer panel to field your customer surveys. These are consumers who have opted in to share their opinion and are being paid to do so. They want to give input, and will allow you to see their online shopping and buying journeys.

As behaviors change, market research needs to adapt.

To be accurate and trustworthy, customer surveys must be fast, flexible and multi-faceted. The goal is to make it simple for consumers to provide reliable input you can use today to adjust advertising spend and ROI. See how companies like Walmart, Warner Bros. Pictures, and PepsiCo are adjusting their approach to customer surveys.