The Forrester Research Mobile Commerce Forecast, 2012 To 2017 (US) indicates that nearly 40% of US mobile phone owners will become mobile phone shoppers by 2017. While this statistic sounds impressive, it means that the majority of consumers will be reluctant to purchase products on their mobile phones. Why aren’t all customers attracted to the unprecedented convenience of anywhere, anytime mobile shopping?
Forrester’s Consumer Technographics® data shows that while consumers use the mobile channel to research competitive product pricing while they’re in a store, they often prefer to purchase their desired product off the shelf, even if the physical item in front of them is not the cheapest option. Consumers are driven by convenience, sometimes at the expense of price:
“How can you reinvent your brand to appeal to younger consumers?” This is the million-dollar question, and the contestant sitting in the hot seat is you. But don’t panic; why not use a lifeline? Ask the audience! That was the approach car manufacturer Buick recently took when designing the 2013 Encore luxury model.
Striving to portray a more fun, contemporary side of the established auto brand and win loyalty among younger consumers, Buick promoted its "Pinterest to Dashboard" contest by calling on participants to create Pinterest boards that spoke to personal styles and passions. The Buick design team selected a winning collection to become the inspiration for the interior and exterior designs of the automobile. While this new look is not yet available on the market, Buick managed to connect with younger consumers in an exciting and relevant way. Through Pinterest, the company engaged 10 extremely influential bloggers (the winner of the competition has nearly 4 million Pinterest followers), dozens of lifestyle editors from media and publication companies, and millions of Pinterest users whose online responses indicated the winning pinboard.
Forrester’s Consumer Technographics® data suggests that Buick certainly chose the right platform to reach its desired market. Launched only three years ago, Pinterest is currently the third-largest social media platform in the US behind Facebook and Twitter. Of those 5.5 million US online adults who use Pinterest to research products for purchase, 65% are younger than 35 and 33% have an average household income of more than $100,000.
I am delighted to announce that for the first time, our annual US consumers and technology benchmark report now has a European counterpart: "The State Of Consumers And Technology: Benchmark 2012, Europe." This report is a graphical analysis of a range of topics about consumers and technology and serves as a benchmark for understanding how consumers change their technology behaviors over time. The report, based on one of our European Technographics® surveys, covers a wide range of topics, such as online activities, device ownership — including penetration data and forecasts for smartphones and tablets — media consumption, retail, social media, and a deep dive on mobile. For Europe, we analyze our findings for five countries: France, Germany, Italy, Spain, and the UK.
Consumers use a multitude of touchpoints when discovering, exploring, buying, and engaging with brands, but some sources are more effective than others. In the explore phase, consumers use a variety of information sources and touchpoints to research the products and services they’ve discovered. But which ones are most effective in driving consumers to the buy phase and have a stronger influence on the price that consumers ultimately pay for their purchase? To help companies answer these questions, we developed the Touchpoint-Impact Framework, which identifies the channels or interaction points that have the biggest impact on consumers’ spend as a percentage above the average price for a given category — the so-called price premium.
The graphic below illustrates the Touchpoint-Impact Framework and how it places the channels that consumers use to explore brands, products, or services into four quadrants:
Strong premium impact and low market penetration.
Strong premium impact and high market penetration.
I had several research questions in mind. Which are the top 20 social networking sites in the US? How many unique monthly visitors do they attract? How much time do visitors spend on these websites? How many visitors access these websites via mobile? Which of these websites are most important for marketers? What is the share of social media spending within total online advertising spending? How much can it grow? What will drive growth? This last question was of particular interest to me. We believe that mobile will be a key driver for social media spending growth. Here’s why:
More users are accessing social networking sites through mobile. As per our forecast, we expect the number of US social media users accessing social networking sites via mobile to exceed 200 million by 2018. Nearly one-fourth of them will be mobile-only social media users; the rest will access social networking sites via both PC and mobile.
The share of time spent on mobile social networking apps continues to increase. Social media apps are among the top apps that smartphone users use. The amount of time they spend on these apps continues to increase.