By Kristen Garvey
This weekend, my 10 year old Jack sat on our comfy couch with a big screen TV just feet way, but he chose to curl up with the iPad to watch his episode of Star Wars. In just a few clicks of the remote he could have watched it in HD on a beautiful big screen. I found myself wondering why. Was it a few clicks too many to reach On Demand? Was it just more convenient to pick up the iPad and watch his show in a few taps? There’s no doubt consumer behavior is changing when it comes to how we watch TV and the big screen doesn’t always win.
This week the Council for Research Excellence (CRE) released a study they commissioned Chadwick Martin Bailey to run to understand the impact of mobile media devices on overall TV viewing behavior. Next week Chris Neal, leader of CMB’s Technology and Telecom practice will be joining Laura Cowan, research director at LIN Media and co-chair of the CRE’s Media Consumption and Engagement Committee at the Advertising Research Foundation (ARF) Audience Measurement 8.0 conference to present the results. The conference takes place June 10-11, 2013 in New York City.
This study indicates that Jack is not alone in choosing the iPad over the big screen. In fact the study found the majority of “mobile” TV viewing occasions happen at home—82% of tablet TV viewing occasions happen in-home and even 64% of smartphone viewing occasions happen here. One of the key drivers of that choice is simply convenience: it’s easy, the television set might be in use by someone else, and/or some consumers don’t have the same online streaming capabilities to their TV that they have on mobile devices. Check out more results of the study here.
“Much of the TV being watched on mobile devices is currently being distributed by online subscription services (e.g., Netflix, Hulu),” according to Neal. “There are opportunities for networks, pay TV providers (e.g., cable, satellite, fiber) and content owners to boost their libraries available via mobile devices and make their mobile apps more compelling so they don’t lose audience share as consumer viewing habits change.”
Interested in learning more? Check out the ARF Audience Measurement conference next week in New York and download CMB’s self-funded research on this New Age of Television
Kristen is CMB's VP of Marketing, a mom of two, and enjoys streaming content through Amazon Prime on the rare occasion she can get her iPad from Jack. Follow her on Twitter: @KristenGarvey
By Hilary O'Haire
I don’t want to brag, but my smartphone is in really good shape.
Like millions of other people, I have multiple fitness and health-related mobile apps, and they’re constantly alerting, pushing—begging me to login, add my stats, and track my diet and exercise. And while I’ll confess there are times these apps get more of my attention, they are awesome tools for getting and staying in shape.
Of course, they’re not a brand new phenomenon, and in a 2011 Consumer Pulse study: Consumer Perspectives on Health and Wellness, we found 7 in 10 smartphone users interacted at least weekly with mobile fitness and diet apps. With smartphone ownership growing, the number of people using these tools has only increased, and companies are responding by bringing new and exciting additions to the mobile health (“mHealth”) app marketplace. In fact, over the next 5 years, the mHealth market is expected to grow annually by 23 percent.
There’s much more to mobile health than tracking calories and reps, and what’s truly exciting is mobile’s capacity to revolutionize how we understand and manage our health. As Mark Curtis notes in “Your phone will know you are sick before you do,” new mobile technology—like “body hacking” will put more of our own health data literally at our fingertips. Body hacks include tools like GlucoDock, a plug in for the iPhone, allowing diabetics to track their blood sugar easily on the go; or the simple but elegant pill bottle cap that connects to a patient’s phone and alerts them when it’s time to take their meds. Besides being extremely clever, these mobile technologies also change how we interact with those involved with our care—hospitals/providers, insurers, and pharmacies. These tools have the potential to give patients an unprecedented level of control and involvement in their own care. What was once hidden in a doctor’s files is now available to be examined by patients themselves.
Way back in 2011, we asked consumers how much they expected to communicate with their healthcare provider, insurance company, and pharmacy in the next few years. Of those who used mobile apps to perform health and wellness activities, over one-third expected their digital communication with each to increase. Well, these “next few years,” are here. Health apps are no longer restricted to physical betterment through diet and fitness; they’re helping us take control of our own health maintenance—from identifying ailments to tracking provider-patient interactions. What’s next? Look into your crystal ball, what do you wish your phone could do to make and keep you healthier?
Hilary O’Haire is an Associate Researcher at CMB. Although she enjoys working out and her RunKeeper app, a love for good food keeps her determined to eat at every Boston restaurant ever featured on a Food Network show.
Read our latest Consumer Pulse: Leveraging the Mobile Moment: Barriers and Opportunites for Mobile Wallet.
By Judy Melanson
The Mobile Wallet is a hot topic for those in the retail, technology and financial services industries. As you may know, mobile wallets allow customers to pay at store checkouts with a tap or wave of their smartphones. In our recent Consumer Pulse study of 1,500 smartphone users, we learned that half are unaware of Mobile Wallets.
To drive adoption, retailers and technology providers will need to overcome a lack of awareness and fear of new technology, all while offering a clear advantage over more traditional payment methods. As shown below, loyalty programs provide a key leverage point to drive Mobile Wallet adoption.
Click to see larger version
Download our latest report on the Barriers and Opportunities for Mobile Wallet and learn more about what will drive (and block) adoption, and who has the advantage as we enter the next leg of the mobile wallet race.
Judy is VP of CMB's Travel & Entertainment practice and loves collaborating with clients on driving customer loyalty. She's the mom of two teens and the wife of an oyster farmer. Follow Judy on Twitter at @Judy_LC
By Megan McManaman
You’re about to step out your front door...
But wait just a moment! You can only take your phone or your wallet, which will it be?
Pre-smartphone there would be no contest, I’d take my wallet. But times have changed, and the balance has now tipped in favor of my beloved iPhone. Beyond checking email, I use my phone to deposit checks, see when the train is coming, read the news, record my ski stats, listen to music, and if I've also forgotten my lunch, I can use a mobile wallet app to buy a sandwich at the deli across the street.
Of course there’s more to mobile wallets than the fate of my lunch, there are billions of dollars at stake for the banks, credit card companies, start-ups, tech giants and others who want to dominate, or just cash in on, the evolving relationship we have with our smartphones. In our latest Consumer Pulse, we surveyed 1,479 smartphone users about what they know about mobile wallets, what’s keeping them from using, what features they’d like to see, and who they'd trust to provide them.
First things first, half of respondents said they were familiar with mobile wallet technology (or proximity payments)—apps that let users swipe or tap their phone at the point of sale, rather than using credit cards or cash. When we asked this 50% to tell us about their experience and expectations for using mobile wallets most said they didn’t plan on adopting a mobile wallet…but nearly a quarter said they were planning to try out the technology in the next 6 months (TWEET THIS). That’s no small number considering smartphone ownership is nearly ubiquitous.
Now let’s consider our more reticent smartphone users, what’s keeping them from trying out the technology that’s already at their finger-tips? We weren’t surprised to find that security (73% called it a barrier to adoption)—particularly identity theft—was high on the list of what’s keeping people from giving up on cash and credit (TWEET THIS). The good news for mobile wallet providers is 79% said they’d be more likely to adopt if they were guaranteed 100% protection against fraud and theft. While many mobile wallet providers already offer this protection, the results show there’s a real opportunity to benefit from promoting this type of security measure (TWEET THIS).
If you’ve assuaged the fear of being scammed, stolen from, and over-charged (remember when people were afraid to shop online?) what’s next? Aside from the novelty of scanning your phone, what’s the incentive behind using a mobile wallet over your, just as convenient, credit card? We found reward and loyalty points were very appealing, particularly when offered as additions to existing rewards people get with their credit cards—80% of non-adopters said they’d be more likely to adopt if offered these extra rewards (TWEET THIS). Of course people like rewards and points—you don’t need to be a marketer to understand that. But nearly as many (66%) said that getting the same rewards they got with their credit card would increase their likelihood to adopt—to which I say, c’mon people aim a little higher.
So yes, rewards are nice, but one of the best things about smartphones is the ability to look stuff up. Think of how many arguments have been nipped in the bud by a quick search of imdb.com or Wikipedia. That ability to find the information you want any time, any place, is just as compelling in a shopping context. Including location-based services like the ability to easily compare items in stores nearby increases likelihood to adopt among 78% of non-adopters (TWEET THIS). But we also found people were a little leery of getting too many alerts, both because they can be annoying and because they suck down battery life. Note to providers, offering people the choice of what alerts and discounts they receive could be a major draw as they decide who they’d like to provide their mobile wallet service.
The topic of mobile is rightly dominating the discussion in almost every industry, but the fact is, for most people mobile wallets are still incredibly new. Amid all the noise and growth, there’s still tremendous opportunity for providers who understand the concerns, goals, needs, and desires of the millions (billion?) of people with the technology right at their fingertips.
Download the full report and learn more about what will drive (and block) adoption, and who has the advantage as we enter the next leg of the mobile wallet race.
Megan is CMB's Product Marketing Manager, she loves Alpine Replay, and longs for the day she can unlock the front door with her phone.
By Jim Garrity
The next time you attend a market research conference, listen very, very carefully. That dull buzzing sound you hear is the collective whine of hundreds of market researchers lamenting their inability to get a seat at the big kids' table or even just some recognition for all the value they provide.
I know it hurts, but it’s time to do some soul searching and address the all too common ways market researchers get in their own way:
over-reliance on statistical significance
inability to put oneself in the business partner’s shoes
focusing on research objectives rather than business objectives
unwillingness to commit to a point-of-view regarding what the data means
I’m not the only one who’s picked up on these industry-wide weaknesses; witness the popularity of the mysterious Angry MR Client on Twitter and GreenBook. There isn’t a silver bullet that will fix all of the issues facing our industry, but I am sure of this: we need to communicate better.
Over and over I hear people lament that researchers need to do a better job “telling stories.” I agree completely, and it’s something we have prided ourselves on at CMB for the last 5-10 years. Lucky for us, while there’s always been and always will be a “story” to tell, there are now so many more tools to help us elicit that actionable insight from the stream of data. Say what you will about the rise of the quants but there’s much to be said about the art of data, and that can mean taking a visual approach to data—no, not a pie chart.
At CMB, we have graphic designers who, in addition to making our PowerPoint reports look great, have also designed some great infographics. There are so many more mediums for storytelling available to us and it would be crazy not to take advantage of them. Maybe there’ll always be an audience for the traditional PPT report/presentation, but I’ll bet there’s also an audience for an infographic, like the one below, highlighting key takeaways:
We’ve provided these for Customer Experience and Brand Tracking engagements and our clients really enjoy them. Easy to read visuals, like infographics, are a great way to socialize key takeaways across an organization where not everyone needs to go through a huge deck.
We’ve also gotten great feedback on our Prezis – mini movies that add energy and emotion to the story. Check out this one that we’ve dummied up to tell the story of a fictitious bank.
ABC Bank Video from CMBinfo on Vimeo.
We’ve given these in advance of an annual presentation and the result has been increased attendance, improved engagement, and better solution-brainstorming.
These are just two really simple examples of how you can take storytelling to the next level, engage your audience in the insight, and perhaps get that seat in the C-Suite.
Jim is Managing Director of CMB’s Financial Services practice. He enjoys sweeping historical dramas and is working on his Downton Abbey infographic.
Stephanie Kimball, our Marketing Operations Manager, created the infographic and Prezi you see here. She gets her inspiration from many places, including the 3 million Redbox movies she rents every week.
You have a loyalty program, you offer discounts, special rewards, and you track your growth.
Well so does everyone else.
Judy Melanson shares tips for optimizing your loyalty program so you can break away from the pack, and make the most of your loyalty investment.
Read more about our work with loyalty programs here.
Join us Wednesday September 12 to discover the who, what, and how of the new rules of television viewing.
CMB's Chris Neal maps out the needs and priorities of different consumers to help forecast how they'll react to future technologies, platforms and service bundles as the industry continues to evolve.
• Online viewership of TV shows and movies among age segments.
• Device viewership scenarios.
• Preferred TV viewing device by occasion.
• Online viewing pain points and barriers.
• Needs analysis of new technology platforms.
Download our free Consumer Pulse report: The New Age of Television
When I moved to Boston in 1988 for college, I was very excited to receive my first “BayBank card.” For those of you from the area, you’ll recall with a smile that BayBank was the dominant area bank; it subsequently merged with Bank Boston which then merged with Fleet. However, through all those changes everyone (at least in my circle) called their ATM card their “BayBank card.” Getting a BayBank card was really your only option if you valued the convenience of an ATM on each and every corner of the three mile stretch from Kenmore Square to Packard’s Corner in Allston. Back then I needed to get cash in $10 increments as easily as I could grab a slice at Captain Nemo’s Pizzeria on Comm Ave. or talk my way into Father’s First Bar in Allston.
Over time, however, my needs as well as my definition of convenience changed. As time marched on, I started to think about buying a home, saving, and investing. Convenience was still the most important thing to me, but convenience now meant ubiquitous ATMs, a close branch to open new accounts, as well as a host of connected financial products. I liked being able to do all my business in one place. I was an established customer, and pretty pleased with the convenience of one-stop-shopping.
However, I feel like a new definition of convenience is on my horizon having more to do with useful, practical technology solutions. I want to view my investments, credit cards, savings accounts for my kids, and checking accounts all on one screen. I want to work with my bank virtually; I have two checks in my wallet, just sitting there waiting for me to make my way to an ATM machine. There is one up the street, about a half block diversion from my train, but without exception I leave work later than I should in order to collect my children from their babysitter, so I bypass that ATM. So there they sit, my sad paper checks, uncashed in my wallet and feeling very inconvenient.
The latest Consumer Pulse study from CMB uncovers some very interesting findings regarding convenience and perceptions of value among consumers. Nearly half (48%) of bank customers believe banks can differentiate themselves with good service. But they are like me—the definition of “good service” is evolving; convenience is no longer just about more branches and ATMs, but also about innovative technologies and remote banking options.
The study also found that while larger banks have a reputation for offering the most online and mobile services, credit union customers report online banking usage that is just as high as larger bank customers, and they give their institutions higher marks on performance than they’re larger peers. I would never have associated credit unions with convenience, but technology and their smaller customer bases are leveling the playing field. I wish that I had remote deposit capture, and I hear rumors that my big-bank provider has it, but I can’t find any information about it on my online banking portal. Not very convenient.
My brother-in-law is a 26 years old gadget-guy, and a rabid fan of USAA for both insurance and banking. He was never in the military (his grandfather was), so when I learned about his fandom, I was curious because it didn’t add up. I thought of USAA as traditional player, the epitome of an old-school company. He cited “great service” as the reason he’s loyal. When I asked what he meant by “great service,” he mentioned that he was first among his friends to have remote capture deposit. Definitions of service and convenience are changing; it will be fascinating to see which financial institutions keep up.
Learn more about how technology is changing the definition of good service:
Download the full report: The New Banking Value Proposition.
Posted by Christine Gimber, Christine is an Account Executive with CMB’s Financial Services team. A few of the things keeping Christine from cashing those checks are her three little kids, and competing in triathlons.
If you believe the news you might imagine Americans have a pretty low opinion of bankers. It seems cut and dried; the recession laid bare a lot of anger over banks’ role in the economy’s crash. But new insights from our Consumer Pulse research on banking approval, suggest bank customers’ views are a bit more balanced. We asked over 1,400 bank and credit union customers how they felt about their primary bank and the industry as a whole.
We found that while it’s true that most Americans aren’t happy with the banking industry they are pretty happy with their own banks. This kind of discrepancy isn’t shocking or unusual— Congress has abysmal approval ratings, but people tend to rank their own representatives quite highly, clearly personal experience counts for a great deal.
When we looked at customers' banking approval and experience we found some things worth noting:
Approval ratings vary by bank type. Community banks and credit unions were rated more highly than regional and large national banks, with credit union customers giving high marks to many elements of their banking experience, from fees and rates to commitment to the community and remote banking offerings. In fact 85% of credit union customers rated the value they got from their bank as “excellent.”
As for what doesn’t appear to impact approval ratings, those with household incomes under 50k gave just slightly higher approval (51%) to their banks, compared to those making 100k or more (47%).
Just 9% of customers who disapprove of their banks (and 2% of all respondents) say they’re actively looking for a new bank, but willingness to make the switch also varies by bank type. A full 22% of regional bank customers who disapprove of their bank say they are actively looking for a new bank, versus only 7% of large bank customers. One explanation for this disparity is that while large banks are known for accessibility and product breadth, and small banks are recognized for personal service and lower fees; regional banks are often chosen for their proximity. And as we’ve seen in our previous Consumer Pulse research, increasingly that is not enough.
Amidst the real anger and displeasure aimed at banks and the banking industry as a whole, the real message may be: don’t underestimate the power of the customer’s banking experience. Fewer than one in five of respondents agreed that “all banks are pretty much the same.” This is good news for banks who can take the opportunity to differentiate themselves from the competition and from a terrible industry reputation.
Download The Future of the full-Service bank Branch here.
Posted by Jim Garrity, Jim is Managing Director of CMB’s Financial Services practice. He isn't looking to switch banks anytime soon.
Infographic designed by Stephanie Kimball. Stephanie is CMB's Marketing Operations Manager. You can follow her on Twitter at @SKBalls