Mobile News Mix

How Coronavirus is Impacting Consumer Spending

Posted by Catherine Gutierrez on Feb 21, 2020 5:06:33 PM

Consumer spending impacted by Coronavirus

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

Topics: consumer research, consumer survey, consumer insights, mobile market research panel, customer survey,

How cash motivates 50% response rates for surveys

Posted by Catherine Gutierrez on Jan 23, 2020 10:38:01 AM

2-1 Ratio-Unsplash-1

Have you seen the article?

Surveys On The Go® is the #2 side hustle app for consumers.

That's why we get 50% completes on your surveys. They're paid cash for their input. And they're only too happy to give you photos and videos of their feedback on your brand.

Got a brand question? Our consumer panel will answer it.

And it only gets better.

Surveys On The Go® is now the nation's largest consumer panel. With that big of a panel, and a 50% return on your completes, there isn't a survey or a data project, we can't help you with.

So, why not try it out?

In many cases, we turn around research in less than 24 hours.

That’s accurate, validated consumer data - in a day.

And because we use an app, the feedback is in real-time. Your consumers are responding to surveys while they’re still experiencing your brand. It doesn’t get any better than that: freshly sourced data - straight from their smartphone.

So, if you’re asking:

  • How can we better meet buyers’ needs?
  • What do buyers think of the brand/product?
  • What’s the market look like for the brand/product?

Get the answers.

We’ll deliver the data you need. Contact us.

Topics: consumer research, consumer survey, consumer insights, mobile data, mobile consumers, mobile market research panel

Mobile Panel = 50% Lift in Sales

Posted by Catherine Gutierrez on Jan 22, 2020 3:44:55 PM

USIM just won the Programmatic Agency of the Year Award.

Their data was powered by MFour. The award is for targeting active and prospective retail customers: something that was previously not possible in mass media.

And the targeting is working. The data has generated sales lifts averaging 10% to 15% — and as much as 50% — over normal targeted local TV advertising buys.

It all started when Rob Jayson, USIM Executive Vice President-Insights & Analytics, stumbled upon MFour's unique platform. Capable of providing an opt-in panel of mobile users, MFour gave Rob a way to track devices for media research purposes. He was intrigued.

MFour has nearly three million users, making its sample both big enough and stable enough to be used as a building block for refined analyses. So, USIM decided to use MFour's panel to create a geo-targeting methodology dubbed PureView. That allowed the firm to effectively create custom trading areas based on the actual travel patterns of its retail clients’ customers.

“The end result is a much more efficient deployment of programmatic and OTT and other media we can buy with geo tags that is much more efficient in driving traffic to stores,” Jayson explained when MediaPost first wrote about the innovation early last year.

For more information on the article, please view the original post, published by MediaPost.

 

 

Topics: MFour Mobile Research, mobile market research panel, market research needs

What does "active" panel mean?

Posted by Catherine Gutierrez on Dec 9, 2019 6:19:00 PM

person-looking-confused-162033-2868235

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:

Our Highly-Representative, Validated, All-Mobile Consumer Panel

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

Topics: consumer research, consumer survey, consumer insights, mobile market research panel, customer survey,

Improve customer surveys: 3 tips

Posted by Catherine Gutierrez on Sep 20, 2019 1:11:44 PM

Improve customer surveys with three pro tips

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.

Topics: consumer research, consumer survey, consumer insights, mobile market research panel, customer survey,

2 Simple Steps To Understand Complex Consumers: Observe Closely, Then Survey Effectively

Posted by MFour on Apr 30, 2019 11:49:36 AM

 

The constant proliferation of new research products, technologies and methodologies for market research is making life increasingly complex for research-users.

But it doesn't have to be. To remove clutter and gain clarity on the available data-collection options, the simple rule to remember is “observe, then survey.” 

MFour handles data-collection simplification like this:

Observe who? Members of the large, representative first-party consumer panel that’s gathered around Surveys On The Go® (SOTG), the original, most-advanced mobile market research app.

Observe when? Observe endlessly. Always-on GPS location tracking of consenting SOTG users makes it possible. They allow the app to access their phones' location features so they can receive location-triggered surveys.

Observe where? Across all locations of the top 1,000 U.S. retailers, and millions of other places of commercial interest.

Survey who? Whichever segment you need, based on observed location visits combined with detailed demographic pre-profiling. See who's making the observed visits without having to ask.  

Survey when? At the Point Of Emotion®, the window in which the consumer experiences and attitudes you need to understand remain vivid and recall is at its highest.

Survey where?

  • Inside a store if you want to understand what the consumer is thinking and experiencing right now (example: which package stands out on a shelf full of similar products?).
  • Or just after observed visitors have left the store, so you can ask about the entire experience, including what they purchased, and why.  

Consumer journeys are more complex than ever, but that doesn't mean the tools for understanding them have to be burdened with complex moving parts such as multi-sourced consumer panels, third-party data and algorithmic analysis that makes inferences instead of seeking out actual consumer feedback.

If you observe closely, then survey intelligently, you can trust that your data captures reality. You'll play a key role in guiding your business to the right decisions, and you'll be able to explain clearly to yourself and understandably to anybody else in your organization how you collected your data and interpreted it to confront the business problems you all need to address.

 

Topics: point of emotion, surveys on the go, consumer panel, mobile geolocation, mobile market research panel, location-triggered surveys, event-triggered surveys

Post a comment

Subscribe to Email Updates

Recent Posts

Posts by Topic

see all