Mobile News and Research: June 2016
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Transcript of Mobile News and Research: June 2016
June 2016 – Mobile News and ResearchPointSource Analytics
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• Retailers with a well-designed mobile strategy see 97% greater year-over-year increase in annual revenue than those that do not.
• Twitter is stepping away from their investment in social buy buttons on the platform, but buy buttons still show a lot of promise for more visual platforms like Instagram and Pinterest in bridging the mobile conversion gap.
• A survey of mainstream online adult consumers found that 37 percent say they use mobile one-click checkout monthly or more frequently. 31% of 18-24 year olds use it weekly or more frequently.
• Self-service kiosks can change consumer behavior by increasing purchase size in retail but can decrease customer satisfaction in other industries like banking.
• Customer search queries by device type can vary by time of day, explains Google, and altering your advertising and content strategy by “dayparting” can improve performance.
Executive Summary – Retail Mobile Research 2016
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Best-in-Class retailers recognize
that mastery of mobile interactions
is a key driver of positive
performance.
Mobile Retail: Engaged Shoppers, Better Results
One out of two interactions retailers have with consumers today take place via mobile.
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Best-in-class (top 20%) mobile retailers with a mobile
strategy outperform peers significantly in top metrics.
They achieve 97% greater year-over-year growth in
annual revenue, retain 80% more of their clientele,
and greater customer satisfaction, shareholder value
and operational efficiency.
Mobile Retail: Best-in-Class Mobile Retailers Outperform
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• Connecting all customer conversations across channels.• Managing orders across channels.• Uniform shopping experience across devices and
channels.• Predict shopper preferences and needs, based on a
cross-channel historical view of behavior.
Mobile Retail: Engaged Shoppers, Better Results
Key Activities to Boost Performance of Shopper Interactions through Mobile
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Twitter has moved employees on to other projects and is closing it’s investment into the buy button, which has not panned out for them.
While their dynamic, targeted product ads have twice the click through of standard ads, users have likely been uncomfortable with Twitter’s direct purchase experience, as it lacks the level or details and UX of a commerce platform.
This doesn’t mean Social Buy is dead, social platforms like Pinterest, Instagram and Facebook may be better-suited for it given their visual nature.
Twitter Distancing from Social Buy Buttons
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• A survey of mainstream online adult consumers found that 37 percent say they use mobile one-click checkout monthly or more frequently.
• The 18- to 24-year-old demographic exhibits the highest adoption rates, with 31 percent using one-click checkout on a weekly or more frequent basis.
• While shoppers seem to prefer Visa and PayPal online, Apple Pay has made great penetration for in-store purchasing.
• The marketplace has many options, including PayPal, Visa Swipe to Buy, Apple Pay and Mastercard.
Express Checkout Options Gaining Popularity
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• Users are preferring a payment solution that works both online and offline, which is where PayPal is lagging.
• Omni-channel wallets are growing in importance as advanced users migrate from online to in-store. 77 percent of early adopters plan to use mobile wallets in-store compared with just 46 percent of the general online population. While mainstream users are primarily embracing wallets for mobile Web purchases, they are likely to this behavior to the physical world they become more comfortable with mobile wallets.
• 22 percent of consumers with an annual household income of more than $150,000 are making mobile payments at least several times per week and 59 percent plan to make in-store mobile payments over the next 90 days.
Early Mobile Payments Adopters Prefer Apple Pay over PayPal
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• In general, when customers self-service via kiosk or app, they tend to spend more money.
• Customers appear more comfortable customizing the order and giving special instructions (+14%) via online ordering than on the phone.
• In some industries, banking in particular, self-service kiosks have decreased customer satisfaction as their percentage of interactions shifted away from face-to-face. (Buell, Campbell, Frei, 2015)
How Self-Service Kiosks are Changing Consumer Behavior
Taco Bell app orders 20% higher order value
Domino’s sees highest ticket value of all digital channels in iPad app
8.4% increase in order of hard-to-pronounce items via self-service
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• “Essentially, there are three things that we think determines when a customer will willingly engage in self-service. First, customers have to know what’s expected of them. Second, they have to be capable of doing what’s expected of them. Finally, and this is one where a lot of companies fall off the rails, they have to see the value of expending the extra effort in order for it to be something that they would willingly engage in.” (Gavett, 2015)
• Self-checkout or self-service have to be very easy-to-use, as security features or other stopping points can create customer frustration.
How Self-Service Kiosks are Changing Consumer Behavior
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Dayparting Can Help You Tap Into Consumer Mico-Moments
Are you paying attention to the “seasonality” of the day? By
dividing the day up into parts, you can be more relevant to people during their micro-
moments.
More searches happen on mobile than on computers and tablets for 15 of the 24 hours during a typical weekday.
Weekday
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Dayparting Can Help You Tap Into Consumer Mico-Moments
Users search for refunds in the morning and tax filing help in the evening – perhaps out of procrastination?
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Dayparting Can Help You Tap Into Consumer Mico-Moments
Google recommends researching your brand and related search queries by daypart and device to understand what times of day important queries occur and learn more about your user behaviors.Consider segmenting messaging by daypart to deliver different message content or functionality depending on time of day. Click to chat or call links, for example, may be active during times those services are available. Messaging may change based on popular queries.They also recommend ensuring your ad campaigns don’t run out of funding before the end of the day when many search query peaks may be occurring.
Thank YouMandy Steinhardt
Director of Analytics and Digital EngagementPointSource
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