Mis mon 0815 sponsored breakfast fore see

MANAGING FORWARD:HOW TO MEASURE THE IMPACT OF MOBILE ON YOUR BUSINESS

Larry Freed

President & CEO

@LarryFreed

[email protected]

2HOW TO MEASURE THE INTANGIBLE MULTI-CHANNEL IMPACT OF MOBILE COMMERCE > LARRY FREED AND ERIC FEINBERG @LarryFreed

Managing Forward

Using analytics to manage your

business forward

If you are not measuring the customer experience

of your mobile site & apps …

“But I have Metrics”

HOW TO MEASURE THE INTANGIBLE MULTI-CHANNEL IMPACT OF MOBILE COMMERCE > LARRY FREED @LarryFreed

What Do You Know?

> Amount of commerce on my mobile site/apps

> App downloads

> App store ratings

> Page load times

> Page views, time on site/app

> Device manufacturer, platform and browser

What do these metrics tell you?


What Don’t You Know?

> Who is using mobile site/app

> Why they are using mobile site/app

> What are they trying to accomplish

> What channels have they interacted with before

> Where are they in the purchasing cycle


What Don’t You Know?

Was the experience successful from the customer’s perspective


Customer Experience

Behavioral Analytics> What people have done

Customer Satisfaction Analytics˃ What people will do˃ Understand prior channel,

device experience˃ Understand what user was

trying to accomplish and why˃ Understand if they are satisfied


Today’s Consumer Is In Control

Experience and Expectations define Satisfaction

> Satisfaction determines what consumers do next

> Satisfaction drives financial success

Why Measure Mobile Experience?


The Value of a Satisfied Mobile Shopper

A highly satisfied mobile shopper:100% more likely to buy from the mobile channel

40% more likely to buy from another channel

54% more likely to purchase from retailer next time purchase similar merchandise

67% more likely to recommend

65% more committed to the brand overall

Source: ForeSee E-Retail Satisfaction Index Top 40 US Holiday 2011

Case Studies


The Cost of a Dissatisfied Mobile User

A Consumer Products company found that their highly dissatisfied mobile site visitors are:

133% Less Likely to Purchase Products via

3rd-Party Retailers & E-Commerce

171% Less Likely to Recommend

Highly satisfied (>80 / 100) vs. highly dissatisfied (<60 / 100)

Source: Original ForeSee Analysis


Source: Original ForeSee Analysis

The Cost of a Dissatisfied Mobile User

Hospitality company with a robust online presence that significantly drives business for its worldwide locations discovered:

52% Mobile UsersNot Able to Accomplish Goal

Satisfaction 25

Likelihood to 23 Recommend

48% Mobile Users Able to Accomplish Goal

Satisfaction 75

Likelihood to 74Recommend

The Mobile Consumer

@LarryFreedHOW TO MEASURE THE INTANGIBLE MULTI-CHANNEL IMPACT OF MOBILE COMMERCE > LARRY FREED

Website Visitors Use of Mobile

Spring 2012

34%

Used a mobile phone to visit the retailer’s site or app

Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012


Mobile Phone Use

Among those who used a mobile phone for retail purposes:

Research Products

Make a Purchases Online

Compare Prices while in Store

Use Retailer-Developed App

76%

33%

39%

21%



Mobile Phone Use In Store

Consumer mobile phone use while in a store:

Store’s Website

Competitor's Site

Shopping Comparison Site

Store’s Mobile App

Competitor’s Mobile App

52%

36%

21%

15%

9%


A Sneak PeakNew Mobile Research To

Be Released In September


Sneak Peak: Mobile Research

˃20 top retail mobile sites/apps˃Over 4,500 respondents˃Phone and tablets, sites and apps˃To be released in September

Source: ForeSee Mobile Research August 2012



˃Scores between 77 and 84 > Web: Top 20: 75 to 89, Top 100: 69 to 89

˃Average score 79 > web: Top 20: 80, Top 100:78

˃Top Score, Amazon 84 > Web: Amazon 89




˃Likelihood to purchase in-channel: 74

˃Likelihood to purchase out of channel: 82




˃68% used mobile site > Satisfaction 79> Likelihood of in-channel purchase 73> Likelihood of out-channel purchase 82

˃32% used app> Satisfaction 80> Likelihood of in-channel purchase 77> Likelihood of out-channel purchase 81




˃76% used phone> Satisfaction 79> Likelihood of in-channel purchase 74> Likelihood of out-channel purchase 83

˃24% used tablet> Satisfaction 79> Likelihood of in-channel purchase 75> Likelihood of out-channel purchase 80




˃Primary purpose of visit> 28% to look up product details, satisfaction 79> 19% to look up price information, satisfaction 78> 17% to check in-stock status, satisfaction 79> 13% to make a purchase, satisfaction 84> 10% to find a location, satisfaction 80




Location where they used phone/table

˃59% from home, satisfaction 80˃16% while preparing to visit store, satisfaction 79

˃7% from the retailers store, satisfaction 80˃3% from a competitors’ store, satisfaction 76




What most influenced you to visit site/app on your phone/tablet

˃37% familiarity with brand, satisfaction 80˃12% promotional email, satisfaction 79˃10% search engine, satisfaction 77˃13% via recommendation via social network

or word of mouth, satisfaction 80


Mobile Customer Experience

Measurement in Action


The Mobile Consumer: Many Forms


The Mobile Shopper: Many Purposes

PURCHASE RESEARCH

SUPPORT COMPANION CHANNEL


The New Consumer

Today’s consumers are multi-channel, multi-device consumers

Mobileis both a stand-alone and companion channel

Traditional metrics are single channel metrics

Satisfaction measures success of the experience from the customer’s perspective

ForeSee

Measuring the customer experience through the lens of satisfaction

Precise MeasurementConfident InsightsDecisive ResultsRelevant Benchmarks


ForeSee Mobile Measurement Capabilities

• Apps, mobile optimized sites• Mobile traffic from non-optimized sites• Smartphones & tablets• Operating systems by phone & tablet

• Trigger within the app or site• Trigger on exit of the app or site• Trigger post-visit of an app or site experience


The Big 3 Customer Experience Questions

How are we doing?Performance of Satisfaction, key drivers and desired outcomes

1



How are we doing?1

What should we do?Areas of focus defined by impacts

2



How are we doing?1

What should we do?2

Why should we do it?Causal model predicts behavior

3


Some of the Companies We Measure

40 of the Fortune 100 35 of the Top 100 Online Retailers 6 of the Top 10 Banks Over 90% Customer Renewal

Over 600 customers Over 1000 active measuresOver 70 million surveys collected Over 80 industry benchmarks


Takeaways

You cannot manage what you do not measure

The consumer is multi-channel & multi-device with unprecedented power

Measure success from the consumers’ perspective

Traditional (behavioral) metrics alone will not tell you enough about the customer experience

Customer satisfaction drives conversion, loyalty, retention, word-of-mouth…and financial success


Copy of the slides?Copy of the upcoming research?Find out more?

Larry Freed Eric FeinbergPresident & CEO Industry Director(734) 205-2555 (734) [email protected] Eric[email protected]: @larryfreed Twitter: @ericfeinberg

www.ForeSee.comBlog: blog.ForeSee.com

mailto:[email protected]

mailto:[email protected]

Mis mon 0815 sponsored breakfast fore see

Business

mobile spring

mobile consumer

mobile users52

mobile usersable

mobile channel40

mobile phone useamong

mobile research scores

retail mobile sitesapps

Transcript of Mis mon 0815 sponsored breakfast fore see

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