Marketing

Changing market conditions and consumer behaviors

Last week, Mary Meeker, the renowned Investment Banker, turned Venture Capitalist released her latest ‰”state of the union‰” style presentation about the Internet industry. Though extremely long (120 slides) it is filled with interesting insights and perspectives about the changing market conditions and consumer behaviors and the impact this is having on all verticals.

As I was reading, some of the key takeaways were that mobile and tablet growth is massive and changing the way we interact with the Internet, and there is a lot more growth to come. Mobile now accounts for 10% of all global internet traffic. It was striking as the 10% parallels trends we are seeing with survey responses, where 10% or more of responses are coming from mobile devices. In fact, with some audiences, we are seeing even higher response rates. This speaks to the need to keep mobile in mind for every study, and is why Vision Critical continues to invest in making it incredibly easy to build surveys that are optimized for both smart phones and desktops.

She also speaks about how the monetization of mobile applications has been difficult. Basically this means less people are clicking on ads on their smart phones, either on mobile websites or within mobile applications. This data will help guide expectations for mobile river sampling and placing banner ads for survey ‰”feedback‰” links on mobile sites. It is definitely not a ‰”build it and they will come‰” scenario. If you want feedback on your mobile properties, you will need to reach out through multiple channels; your community panel is a great asset for this. Consider profiling your audience to see who is using what devices, mobile or not and what they use their devices for. Ask them about their use of your mobile properties and then follow up with feedback questions, not only will you increase your response rates over mobile banner ads; you can leverage the deep profiling of your panelists to get better insights.

One of the most intriguing sections is on re-imagining, where she walks through a number of industries and talks about how modern technology has completely changed the dynamics of the business. In Market Research we have seen how the internet has enabled us to move telephone surveys to online already and now mobile is making us re-imagine the survey once again. Here at Vision Critical, re-imagining is our way of life. Take a few minutes and list to Andrew and Angus Reid tell our story:



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