This week’s roundup includes news about disruptive brands, VR adoption, Facebook user behaviour, and more. Be sure to check out the Internet Statistics Database, too. It’s packed full of stats, charts, and market data.
62% of people have a positive attitude towards VR, versus 76% in 2017
Following on from a 2017 survey, ReportLinker has conducted new research to find out whether attitudes towards virtual reality have changed.
Interestingly, the findings show that opinion and adoption has declined. 56% of survey respondents have heard about the technology but are not able to explain it to a friend, which is a 10% increase since 2017. However, despite the increase in awareness, 62% of people have a positive attitude towards the technology, compared to 76% in October 2017 and 83% in January 2017.
When it comes to VR’s leading brands, just 28% of respondents can name an industry leader without any hints or clues – 17% less than in 2017. Only 37% also show familiarity when brand names are suggested – 23% less than in 2017.
Why are VR headset sales declining?
Glossier and Warby Parker among the 250 most disruptive DTC’s
The IAB has revealed the 250 most disruptive direct-to-consumer brands in the retail marketplace. These brands were chosen for ‘driving positive change in the US consumer economy’.
These brands also share seven characteristics:
- Direct brands are centred around individual consumer relationships and the data they provide
- They are web-native
- They are socially closer to the consumer
- Direct brands are “maniacally focused” on consumer experience
- They use content as a differentiator
- They define content more broadly than incumbent brands and partners
- Their mission is central to their story
The brands featured with the highest revenue include Stitch Fix, Grove Collaborative, FabFitFun, and Loot Crate. See the full list here.
55% of all Facebook posts are links
Quintly has just published its ‘Facebook 2018’ study, based on the analysis of 94,000 pages and over 105 million posts on Facebook.
Findings show that link posts have the biggest share of all post types, making up 55% of the 105 million analysed. Meanwhile, photo posts made up 29%, and videos made up 14%.
Interestingly, despite their popularity, link posts generate 72% fewer interactions than video posts. Video generates 65% more interactions than images, while images generate 105% more interactions that status updates. Lastly, the study found a 13% higher interaction rate on weekends compared to weekdays.
Econsultancy’s Social Media Best Practice Guides
1 in 10 retailers offer finance from lenders such as Klarna
New research has revealed an increase in the number of major UK retailers offering the option to pay in international currency.
From the analysis of 250 UK retailers, Visualsoft found a 19% year-on-year increase in the number of brands accepting international currency. 81% of the biggest retailers are offering customers the option to pay in non-sterling alternatives – an increase on the 62% of retailers that offered international payments in 2017. The majority of these are Euros and USD, with 1% of retailers offering Yen.
The research also found that Amazon Pay is already being used by 10% of top retailers, while a further one in 10 of retailers analysed offer finance products from lenders such as Klarna – up from almost nothing in 2017.
Great customer service is key to driving brand referrals
MentionMe’s ‘Customer Advocacy in 2019 report’ delves into what motivates UK consumers to share products and refer brands.
The findings show that – despite the supposed popularity of influencer marketing – friends are the most trusted source of product recommendations across all the ages and demographics. Thirty three percent of the 2,000 UK survey respondents said they would trust a friend’s referral the most. This is compared to 12% who would trust online reviews, 2% who would trust a referral from a celebrity, and 3% who would trust a blogger or YouTuber.
Elsewhere, the report shows that great service and trust override discounts when it comes to activating customer advocacy. Fifty one percent of respondents cited great customer service as a reason to refer a brand, while 49% said being trustworthy, and 42% said offering good discounts.
Three in four consumers switch to a competitor after one bad experience
Research from Acquia suggests that there is stark difference between what customers say and how they behave.
In a survey of more than 5,000 consumers across markets, 52% of respondents say that once they’re loyal to a brand, they’re loyal for life. However, 76% of respondents also admit they typically switch to a competitor if they have just one bad experience with a brand they like.
The report suggests that the problem lies with brands’ inability to predict what loyal consumers want. 66% of consumers say brands don’t do a good job of using their personal preferences to predict their needs, which is in contrast to marketers’ claims that they’re improving personalisation.
Seventy eight percent of consumers say they are more likely to be loyal if the brand demonstrates an understanding of them as the customer, yet 64% feel that brands who should know them well don’t know them well at all.
Seedlip, Boomf & DeMellier on customer loyalty
Gaming and entertainment industries are now trying to get as much as possible out of AR and VR technologies. The number of AR-powered apps’ users multiplies each day; the respective revenues also increase. At the same time, entrepreneurs worldwide just watch cautiously after what these technologies can bring. Only a small percentage of companies have employed AR and VR in a truly appropriate, highly-profitable way. The reason is simple: people are still unfamiliar with the cutting-edge technologies that actually have the potential to change numerous industries.
We have been often asked why and how companies use augmented reality. Forecasts say that the AR & VR market will have grown up to nearly $210 billion in total revenue by 2022. So, it is fair enough to employ these technologies in business.