••• leisure research
Americans love their libraries
Women more likely than men to have a library card
A Harris Poll found that 66 percent of American adults are either extremely (24 percent) or very (42 percent) satisfied with their public library. This number represents a seven percentage-point increase from the 59 percent of Americans who indicated the same in 2008. An additional 20 percent are “somewhat” satisfied.
Unsurprisingly, those who have their own library cards are much more likely to feel extremely or very satisfied with their public library than those who do not have library cards (78 percent vs. 44 percent). Parental status also appears to be a factor when determining satisfaction. Parents are more likely than adults without children to be extremely/very satisfied with their public libraries (71 percent parents of children 18+ and 69 percent parents of children <18 vs. 62 percent non-parents).
A majority of Americans (64 percent) have confirmed that they have a library card, down from 68 percent of adults in 2008. Looking across demographics, when it comes to the great gender divide, women are more likely than men to have a library card (71 percent vs. 57 percent). Higher levels of education coincide with higher likelihood to have a library card. Adults who have completed a postgraduate degree are the most likely to have a library card (79 percent), followed by a near-tie between college graduates (67 percent) and those who have completed some college (66 percent). Americans who have a high school education or less are the least likely to have a library card (58 percent). Parental status also coincides with differences in likelihood to have a library card. Parents are more likely to own library cards than adults without kids (70 percent of those with children <18 and 68 percent of those with children 18+ vs. 60 percent of those without children).
When asked how important it is that a child have one of his or her own, 89 percent of U.S. adults believe it is important, with 56 percent finding it to be very important. Once again, gender differences hold strong. Women are more likely than men to consider it very important that a child have their own library card (61 percent vs. 49 percent). When it comes to education levels, postgraduates are the most likely to feel it is very important for children to have their own library cards (71 percent, vs. 51 percent college graduates, 62 percent some college and 49 percent HS or less). It is perhaps unsurprising that those who have library cards themselves are more likely to feel it is very important for children to have their own library cards (68 percent) than those who do not have library cards (33 percent).
Nearly eight out of 10 adults with library cards (78 percent) have used the library in the past year, while 21 percent have not. More specifically, 28 percent have done so one to five times, 15 percent six to 10 times, 17 percent 11-25 times, and 18 percent have used the library 26 times or more.
Parents of children under 18 are the most likely to have used the library six or more times in the last year (61 percent, vs. 43 percent parents of children 18+ and 49 percent adults with no children).
When shown a list of possible library activities and asked which were the top reasons they had used their library over the last year, the majority of Americans list borrowing hardcover or paperback books (56 percent), followed by DVDs/videos (24 percent) and digital content (15 percent, with 13 percent specifying borrowing e-books). Breaking it down by gender, it appears that women are more likely than men to use the library for borrowing e-books (15 percent vs. 9 percent) and attending a kids’ reading or storytime program (7 percent vs. 4 percent). However, women are less likely to use the library to borrow CDs/music (7 percent of women vs. 12 percent of men), use reference materials (7 percent vs. 12 percent), and check email (5 percent vs. 14 percent), among other things.
Nine in 10 Americans (89 percent) feel it is important that a library be a valuable education resource, with the majority of adults specifying they feel this is very important (59 percent). Meanwhile, just over three-fourths of adults consider it existing as a pillar of the community to be important (77 percent). In addition, roughly seven in 10 Americans agree that it is important for the library to be recognized as a community center (73 percent), a cultural center (70 percent), and a family destination (68 percent). Finally, 65 percent of American adults believe it is important that a library should exist as an entertainment resource.
This Harris Poll was conducted online within the United States between July 16 and 21 among 2,306 adults (aged 18 and over), 1,476 of whom have library cards. Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was also used to adjust for respondents’ propensity to be online.
••• mobile research
Pinterest rules the mobile social network world
Highlights from the Adobe Mobile Benchmark Report
San Jose, Calif.-based Adobe released its 2014 Mobile Benchmark Report, which analyzes the latest mobile trends including Wi-Fi versus cellular usage, the correlation of screen size and browser market share, the role of social networks across smartphones and tablets, content sharing across devices and more.
Selected findings include:
Mobile browsers: Market share for Chrome Mobile increased by 5.7 percent to 34.6 percent while Safari Mobile fell by 2.6 percent to 59.1 percent. Apple iPhone and iPad still drive the most mobile Web visits with 54 percent and 80 percent market share respectively. Samsung placed second for both browsing on smartphones (24 percent) and tablets (7 percent). With a 5 percent share, Amazon came in third for mobile browsing on tablets.
Screen size and mobile browsing: The iPhone 6 Plus’s larger screen option came just in time, as the report indicates that without a larger-screen phone, Apple’s mobile browser share would be expected to further decline. Phones with larger screens drive more Web traffic than ever before. Web browsing on four-inch or larger phones grew by 132 percent year-over-year while browsing on smaller phones (four-inch or less) decreased by 11 percent year-over-year. In addition, tablet browsing flattened and only saw a minor increase of 1.8 percent year-over-year.
Social networks across devices: Thirty-six percent of all referral visits from social networks to retail sites come from tablets and smartphones. Pinterest is the most mobile social network, with 64 percent of its referrals triggered via mobile browsers. Tumblr referrals drive the highest revenue per visit from mobile devices, 39 percent more than Facebook. In addition, bounce rates for referrals from social networks are higher on mobile devices than desktops, 61 percent versus 53 percent, respectively.
Access and sharing of content across screens: More consumers choose to access the Web via Wi-Fi. Over 50 percent of smartphone browsing and 93 percent of tablet browsing now come from Wi-Fi rather than cellular networks. In addition, mobile users are sharing more digital magazine content via text messaging than ever before. The use of Apple iMessage saw the strongest increase, with 259 percent year-over-year. Sharing content via Facebook is down by 42.6 percent.
iBeacons and geotargeting: In an accompanying mobile survey, Adobe found that iBeacons and geotargeting are becoming mainstream. Eighteen percent of mobile marketers already use iBeacons and the number is expected to double in 2015. Almost half of marketers (49 percent) use GPS positioning to reach mobile users with their brands. Thirty-three percent of mobile users take advantage of mobile-assisted in-store shopping.
Adobe’s Mobile Benchmark Report is based on aggregated Adobe Marketing Cloud and Adobe Digital Publishing Suite data from 18 billion visits to more than 10,000 Web sites and over 700 million mobile app sessions. The accompanying mobile survey is based on interviews with over 3,000 mobile users and over 100 marketers of major U.S. brands.
www.adobe.com
••• financial services
Gens Z and Y open up about their financial fears
Whoa is me
Facing worries of unemployment, diminishing Social Security benefits and an average student loan debt of $29,000, those in Generation Z (ages 15-24) understand the importance of saving. TD Ameritrade’s third-annual Generation Z survey looked at what this generation is doing right and where there is room for improvement. The survey also polled Generation Y (ages 25-37) this year, to see how these two generations differ.
When asked, in an open-ended question, their biggest concern with today’s economy, members of Gen Z were most likely to say jobs/unemployment. This was their biggest worry in 2013 as well. However, it appears to have diminished, down to 25 percent from 34 percent, mirroring, perhaps, the improvement in employment rate for the class of 2014.
Kaci F., a Gen Z intern for TD Ameritrade, shares this sentiment, “It’s very difficult to find a job right now but I think the economy has been getting better. I think we have a better chance now than a couple years ago finding employment.”
One shift that Kaci and others in her generation are experiencing is securing post-college internships rather than full-time jobs. “I think that will become the new norm,” she says.
Brenna L., a fellow intern at TD Ameritrade agrees. “Employment right now so heavily relies on experience,” she says, “and for our generation getting that experience and getting our foot in the door is the hardest, so people like us are interning in our 20s because we need that experience.”
Jobs may be today’s worry, but members of Gen Z have some future concerns on their minds as well. An increased number of those in Gen Z – from 39 percent in 2013 to 44 percent this year – fear that Social Security and other similar government retirement programs will be depleted by the time they retire. And, as the average student loan debt has continued to climb, it’s no surprise that nearly half (44 percent) of those in Gen Z say they worry about having a large student loan balance when they graduate.
Despite fears of accruing too much student loan debt, the majority of those in Gen Z (72 percent) have attended, are currently in or plan to attend college. Additionally, 53 percent say they plan to pursue an advanced degree. That’s likely because they increasingly believe that a college education is key to their success (60 percent feel it’s very important, up from 54 percent in 2013). The older members of Gen Y are less likely to see college as very important (47 percent). However, among those in Gen Y who went to college, 51 percent still feel their college education was worth every penny invested.
A few, like Demarcus J., a recent Gen Z graduate and former TD Ameritrade intern, feel that there is value in gaining an advanced degree. “The bachelor’s today is like getting a high school degree,” he says. “You have to have it in order to be competitive in the job market. I think that having a master’s gives you a more competitive edge.”
As the average cost of a four-year degree continues to rise, most (65 percent) high school-aged Gen Zers expect to pay tuition with assistance from scholarships and grants. The reality, however, may be a bit different: Only 54 percent of post-college Gen Zers and 50 percent of those in Gen Y actually benefited from scholarships and grants.
Members of Gen Z (51 percent) report that their parents are the No. 1 resource for learning about finances. According to the survey, 84 percent of those in Gen Z say their parents discussed the importance of saving, on average, by age 14.
However these financial lessons are being taught, it appears that good financial habits are being formed. A few highlights of Gen Z’s fiscal responsibility from the survey include:
• Those in Gen Z increasingly feel that saving is very important (57 percent) at this point in their lives, up from 50 percent in 2013.
• If handed $500, nine of 10 Gen Zers say they would save at least some of it.
• And their budgeting skills are improving with age, as 36 percent say they have a budget and follow it (up from 27 percent in 2013).
While members of Gen Z appear to be taking some good steps toward their financial futures, there are some areas in which they could use a little guidance. For one, it appears credit card debt increases with age. The average debt for college-age Gen Z: $559; for post-college-age Gen Z: $975; for Gen Y: $1,946.
Furthermore, fewer members of Gen Z surveyed in 2014 (43 percent) say they pay off their credit card bills monthly compared to 2013 (59 percent).
So what does the future hold for Gen Z? Nearly half (49 percent) of those surveyed say they have moved out or plan to be out of the house by age 20, while only 40 percent of those in Gen Y say that they moved out by age 20.
Like last year, those in Gen Z say the age they’d be embarrassed to still be living at home with their parents is 28. But, Gen Y wouldn’t feel so until age 31, on average. And what’s more, 17 percent of Gen Y survey respondents say they wouldn’t be embarrassed until age 40 or even older.
Whenever they leave the nest, Gen Z wants to find a job that inspires them with the vast majority (74 percent) saying that feeling inspired by their work is more important or equal to the salary they earn. They are also looking for a job that allows them to make a positive contribution to society (59 percent). Thirty-six percent of those in Gen Z would prefer to be self-employed/entrepreneur, rather than traditionally employed.
Whatever the future holds, most Gen Zers say they plan to start a job, buy a car, pay off student debt, get married, buy a home, THEN begin saving for retirement – in that order. On average, Gen Z believe the right age to start saving for retirement is 27. “I don’t think my generation really thinks about savings like we should,” says Caitlin N., an intern for TD Ameritrade. According to the survey, only one in five Generation Z respondents say they are currently saving for retirement.
And, how does Gen Z plan to go about saving for retirement? Just 17 percent believe that the best way to plan for retirement is to invest in the stock market. While that’s up from 11 percent a year ago, many more (47 percent) believe that a savings account is the best way to prepare for retirement.
The survey found that only 10 percent of those in Gen Z report learning financial lessons from a teacher or course at school. Many Gen Z respondents (42 percent) report they have not taken a class about investing, largely because there were no classes available (40 percent).
An online survey was conducted among 1,000 U.S. residents born between 1990 and 1999 (Gen Z) and 500 U.S. residents born between 1977 and 1989 (Gen Y) from April 30 to May 12, by Head Research on behalf of TD Ameritrade Inc. Sample was drawn from major regions in proportion to the U.S. census. The statistical margin of error for the total Gen Z sample is +/- 3.1 percent (assumes responders are the same as non-responders and that panelists are the same as non-panelists).
••• sales research
Inertia rules among users of sales management programs
We’ve fallen and we can’t get up
Findings from the 2014 Sales Compensation and Performance Management Report by Boulder, Colo., researcher CSO Insights show that even respondents who gave a B grade to their firm’s current compensation/incentive management program cited major differences in rep quota attainment and the ability to deliver timely and accurate metrics to managers, among other factors.
This year’s report asked survey respondents to grade their current compensation/incentive management program, explain the main reason for the grade given and, among those who gave it a lower grade, the main obstacle to changing. Of 850 firms responding to the survey, 37 percent gave their current plan a grade of C, D or F.
Tied for main reasons perpetuating the current systems – despite low grades – were a lack of staff expertise to introduce a more effective program and/or senior management having no interest in modifying the design philosophy.
“You might fear a rebellion by sales reps when changing the compensation plan design but only 6 percent of firms offered this as the most compelling reason to maintaining the status quo,” says Barry Trailer, managing partner at CSO Insights. “Also of note, while 24 percent of respondents reported senior management had no in-terest in changing, less than half this figure [10 percent] said sales management had no interest in changing.”
The report also found: the percentage of reps “actively engaged” in their jobs fell 10 percent; selling to new accounts continues to be the area compensation plans most emphasize; 90 percent of all firms consider providing managers with timely and accurate rep performance metrics mission critical/very important but only 5.5 percent of firms exceed expectations in doing so.
While 90 percent of firms report that providing their managers with timely/accurate performance metrics is very important or mission critical, 49 percent say they need improvement in doing so. The firms that exceed expectations in this regard also outdistance those needing improvement in vital areas, including the percentage of reps meeting/beating quota (59 percent versus 50 percent), lower total rep turnover (16 percent vs. 20 percent), and coaching with CRM data as opposed to data kept separately by managers.
The report details the shift from lagging to leading indicators and firms’ ability to get performance metrics to sales managers. Fundamental to having this ability is moving off spreadsheets and leveraging systems now available, yet half of all companies and one-third of companies with annual revenues over $1 billion continue to rely on spreadsheets as the basis for managing territories and compensation.
Asking participants to rate their compensation plan was new to this year’s survey and the performance measures support the grades people were giving. “A” players did better overall and in specific measures than others, “B” players did better than “Cs” and down the line. The data make clear that lower grades reflect lower performance, the likelihood of falling further behind competitors, and calls into question why firms recognizing their shortfall staunchly resist changing.
www.csoinsights.com/publications
••• consumer psychology
How to earn a second chance at making a first impression
Tie the experience to a different ‘first’
Most people agree that first impressions are important. New research shows that you can turn a run-of-the-mill experience into an influential first impression, simply by making it seem like a first. For example, a person’s seventeenth visit to a neighborhood coffee shop might normally be unlikely to alter her opinion of that shop much. However, the research finds that when that visit is linked to an unrelated “first” – maybe the first visit of the month, the first visit after starting a new job or the first visit during a special promotion – a mental “reset” button is pushed, leading that visit to have a larger impact on people’s impressions, just like a true first visit would.
This research, by Robyn LeBoeuf, Elanor Williams and Lyle Brenner, which appeared in the Journal of Marketing Research ("Forceful phantom firsts: framing experiences as firsts amplifies their influence on judgment") suggests that you can turn an experience into a meaningful first impression in a variety of ways. In one study, people read descriptions of five visits to the dentist. The fifth visit had a greater impact on impressions of the dentist when that visit was the “first” one after the presidential election (versus when it happened “near” the election). In another study, people read six hotel reviews, similar to those on travel Web sites. The final review was more influential when it was the first review of the year versus just another review.
“By connecting an everyday experience to a first, even an unrelated first, you can turn that experience into a first experience,” say the authors. “Customers may evaluate their old standby restaurant in a new light after the first dinner since they moved into a new house or if the manager welcomes them to ‘the first dinner of the summer.’ This may allow familiar products – and even people – a chance to make a fresh impression.”
Thus, if your co-workers or customers have a poor impression of you or your product, all is not lost. Look for a positive experience, and when you find one, connect it to a first, by pointing out that it is, say, the first meeting after vacation or the first shopping trip of the season. This can give you a second chance at that first impression.
••• brand research
Video helps consumers bond with brands
They like to watch
In research from Brightcove, a Boston provider of cloud services for video, 76 percent of consumers cited video as their preferred content source when consuming brand information. The study, which questioned 2,000 consumers globally, highlights that 79 percent of consumers favor digital content over traditional, with 12 percent preferring to consume content from brands on their smartphone, tablet or mobile application.
Almost a quarter (24 percent) of the consumers surveyed said video is their “most trusted” source of brand content. Explaining their choice, 44 percent said video was more “appealing” to them, while engaging (28 percent), authentic (29 percent) and sharable (10 percent) were also cited as reasons for trusting video content over other forms of brand communication.
In addition, over a third of consumers (35 percent) cited brand video content as more memorable if it is of high quality. The research found that when consumers had a good video experience: almost four in 10 (39 percent) were more likely to research the brand or product further; a similar amount (36 percent) were more likely to tell friends and family about the brand; three in 10 (30 percent) said they were more likely to become brand loyal; and just under a fifth (19 percent) said they were more likely to share content from that brand on social media.
When asked how their branded video experience could be improved, three of the top four consumer responses related to video delivery – better quality streaming (32 percent), faster launch times (31 percent) and less buffering (30 percent) – showcasing that consumers are really now focused on the experience that is being delivered to them, end-to-end.
For the study, an online survey of 2,000 consumers was undertaken in August in the U.S., France, Germany and the U.K. The survey was set up and completed by Vanson Bourne.
••• e-commerce
Nielsen study profiles 30,000 Asian online shoppers
What’s moving in Asia?
From computer software to travel-related services and products, the preferences of Asia’s online shoppers are changing rapidly, a survey of 30,000 consumers by marketing research firm Nielsen showed.
As reported by CNBC’s See Kit Tang, Asians are the most active online shoppers globally, according to the study; clothing, flight tickets and hotel bookings are their most popular purchases. This is compared to 2012, when mobile phones and computer and gaming software were the most popular purchases.
Singaporeans topped the list of consumers purchasing travel-related products and services globally; 70 percent plan to book flight tickets or hotel reservations online within the next six months. Malaysia ranked second globally for booking tours and hotel reservations online and third for booking airline tickets, subsets of travel-related products and services.
“The travel industry is one of the more advanced sectors when it comes to e-commerce platforms,” said Connie Cheng, executive director, shopper in Southeast Asia, North Asia and Pacific at Nielsen in an e-mail to CNBC. “Within Southeast Asia, Singaporeans and Malaysians are among the most inclined to channel their spare cash toward holidays.”
Non-durable goods are gaining traction in Asia’s e-commerce space, with China and South Korea leading the way. Their intent to purchase cosmetics and groceries online exceeds the global average by 20 percentage points each.
Baby-related products are also popular online purchases in China, with diapers and infant formula constituting more than half of such purchases.
“The lightning-fast pace of change in the digital landscape has ushered in a consumer mind-set that is both adventurous and exploratory,” said John Burbank, president of strategic initiatives at Nielsen in a note. “Consumers everywhere want a good product at a good price and the seemingly limitless options available in a virtual environment provide new opportunities.”
Personal computers remain the preferred platform for Asia’s online shoppers except in Thailand where mobile phones are preferred. Tablet usage is also gaining traction, with above-average usage for online purchases in all Southeast Asia markets except Singapore.
“Asia is the furthest down the e-commerce maturity curve,” said Nielsen’s Burbank. “In Asia-Pacific, tech-savvy consumers have already embraced the convenience of online shopping. Attracting new buyers using mobile could be an accelerator in the developing markets as it provides greater access to more people faster.”
Asia’s e-commerce market is expected to hit $1.47 trillion by year-end, up 20 percent from 2013, according to data from eMarketer. But credit card security could become an obstacle for growth, especially in Southeast Asia.
Concerns about providing credit card information run high in Asia; five of the six Southeast Asian markets Nielsen surveyed ranked above the global average on this front. Filipinos are the most cautious, with 67 percent indicating a lack of trust with online payment, followed by Thais (62 percent), Indonesians (60 percent), Vietnamese (55 percent) and Malaysians (52 percent). Globally, the average is 49 percent.
“Concern around providing credit card information online remains a barrier to purchase, however, and providing reassurances around online payment security is essential for online retailers in order to gain the trust of consumers,” said Cheng.