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The Entrepreneur's Spirit - Is SMB Optimism Holding?

by satkinson 4/21/2009 12:42:00 PM

The Entrepreneur's Spirit:

Yes, SMB customers are also suffering in this difficult economic environment, but they are not defeated.  Entrepreneurs don’t give up easy…

When Compass Intelligence surveyed IT buyers in firms with <50 employees at the end of 2008 and then again at in 2009 regarding their expectations for the 2009 IT budget (how will it change over 2008 spending), most users  expected it to either stay the same or even increase:

       Expecting a Decrease more respondents expect to see spending decrease this year, rising from 26% at the end of last year to 38% at the end of Q1 09.

       Keeping it the Same the largest group of respondents expect spending to stay the same and this percent changes the least between the two periods. 

       Expecting an Increase even during the midst of the worst part of this recession, roughly 20% of the small business decision-makers surveyed expect to spend more on tech this year. 

Kneko Burney, the President and Chief Strategist at Compass Intelligence, discusses recent highlights from our bi-annual Online Customer Experience research.  Small and Mid-sized businesses are the focus of this research and it explores some of the top tech and non-tech companies serving SMBs online.  Discussions and key highlights of this research includes a look at SMB online portals, ease of use, available content, learning resources, cool tools, and how the differing companies are successfully reaching SMBs in this tight economy.  Want to learn more?

Check out the Video and Get the Free Download: http://is.gd/tHUP

Check out the report: http://is.gd/tHVn

Get the Online Customer Experience Subscription Brochure: http://is.gd/tHW9

 

Posted By: Stephanie Atkinson, http://www.compassintelligence.com/

 

Social Science: The Business Side of Social Networking

by satkinson 1/27/2009 3:30:00 PM

Compass Intelligence finds that social networks have a potential for business applications, but these are not yet being leveraged.  Most activities on social networking sites are personal or non-productive.  For instance, the top activities on FaceBook are making and staying connected with friends. Among the popular networking sites, LinkedIn is the most business oriented.  Top activities on LinkedIn include making professional connections, staying in touch with colleagues, and joining professional groups on the site.  While LinkedIn has more of a professional bent, with most users spending less than 30 minutes a week on the site, it can not be considered a business critical tool. Thus while the popularity of social networking continues to expand, business users are not yet truly working the social network. 

  • Of the 10,000+ working American’s surveyed in late November 2008, nearly 60% said they were active on a social networking site. 
  •  The most popular site, according to research, is FaceBook, with nearly 35% of respondents being registered members of this site.
  • Social networking sites are not currently being leveraged for business proposes, with most activities centering on personal relationships.

To view details on the full report and survey data: http://is.gd/hrUr 

Written and Prepared by Amy Cravens, Contributing Analyst

http://www.compassintelligence.com

SMBs Loving the Experience

by satkinson 10/2/2008 9:11:00 AM

Looking at the SMB Online Experience

Compass Intelligence just released new research on the Onlne Customer Experience of Small and Mid-Sized Businesses.  Compass Intelligence’s Online Experience research for Q3 2008, focuses primarily on what kinds of experiences vendors provide to Small and Mid-sized Customers online.  Our Q1 2008 research included primary research with more than 20,000 business users.  Key findings in this period of research include:
  • Top ranked vendors include: IBM, Microsoft, AT&T, Dell and Cisco (in order of rank).
  • Vendors that ranked lowest include: Centennial Wireless, DigitalWork.com, Country Financial Services and Alaska Communication System (in order from lowest to highest).
  • Best practice: Vendors should use interactive tabs on the homepage for your business’ various customer segments.  This adds depth, without adding clutter.
  • Worst Practice: Alienate business customers unintentionally by using loosely defined segments, such as “Small” vs. “Enterprise,” without any other ways to engage them, such as by vertical industry or job function.

To see the full press release, click here:

http://www.compassintelligence.com/content.aspx?title=PressRelease13

To get a free executive summary on this research click here:

http://www.compassintelligence.com/content.aspx?title=UpcomingStudies

 

 

Prepared By Stephanie Atkinson

www.compassintelligence.com

Compass Blog   LinkedIn    Twitter

Inside an Internet Video Start-up

by kneko 8/28/2008 12:37:00 PM

Even in a reasonably somber economy, we continue to see start-ups emerging, particularly start-ups of the Internet kind.  Internet start-ups keep emerging because chasing the next big thing on the Web and riding the wave is still and probably will always be irresistible - even in a somber economy.  I speak from experience.  I've watched start-ups come, go and, some times blossom for more than a decade now.  And, for the last 20 months, I have been riding the start-up wave myself.   In addition my day job as President & Chief Strategist at Compass Intelligence, I've been moonlighting as an Internet entrepreneur.  In December of 2006, I registered the domain for my living day dream, www.eyesoda.com, and in June of this year I launched the site for public beta-testing.   

 Eyesoda.com LogoInside of Eyesoda.com:  Already Eyesoda.com has a few hundred registered members and there are a number of budding relationships with online content communities in place.  In addition, I just signed a contract to host an online version of The Santa Fe Film Festival, with more festivals to come.  Even with my limited resources (staff and money), Eyesoda.com is moving quickly forward.  That's because...1.     I believe Eyesoda.com is unique, even in the world of Internet Video start-ups.  But, I'll leave it up to you to decide that...please check out the site. 2.     And, Eyesoda.com is incredibly personal.  There is a face (mine) and a soul to it.  That's what you really need to build community online...I will expose more of Eyesoda.com's internal workings over the next several months, as it launches to what I hope will be stardom.  I'll do this because understanding how small companies with limited budgets, like Eyesoda.com, take root and blossom or, in contrast, fail is essential knowledge for established clients hoping to better leverage the Internet to engage their customers on a fixed budget.Outside of venture capital backing, most Internet ventures (start-ups or groups within large companies) have small budgets and thus need to use ingenuity and creativity to grow and prosper.  I hope to show some tactics that work for Eyesoda.com.  

Lesson for Today:  Building an online community is a question of finding the right incentives to attractive individuals in the right order.  You've got to start by first attracting the people that will be the most active and have the most to contribute to your community (e.g., experts, content generators, etc.).  Be sure to engage these people personally and go beyond email.  Once you've got these "sticky" members on board, you can build the rest of your community around them and their interests.  With regard to Eyesoda.com, I started by building relationships with individual filmmakers and then moved to organizations that represent many filmmakers.  Though starting with individuals first was not the fastest route, it was the most personal and it allowed me to build strong relationships up front.  This added credibility and, I believe, "soul" to my budding community. 
 

Some stats about Internet Video & Community:

  • In April of this year alone, 84 million American's watched roughly 11 BILLION videos over the Internet - that's 71% of total Internet users according to a ComScore press release. 
  • Each of these people spent an average of 228 minutes of videos during that month, and this is just the beginning of the online video trend.
  • According to the 20,000 US workers I surveyed in May, 26% of them already use IP Video conferencing via Webcams, and another 10% expect to do it by the year's end.
  • And, 42% of this group use Web conferencing with their colleagues, while another 41% join Webinars.

So, please check Eyesoda.com out, and don't forget to join! 

Background on Eyesoda.com 

  • Business model:  pay-per-view video-on-demand delivered via high-end streaming
  • Special features: social network with interaction between filmmakers and film lovers.
  • Domain registered: December 2006.
  • Public Beta-launch: June 2008 

To join the Eyesoda Wave simply register online!

 

Kneko Burney - President of Compass Intelligence & Founder & CEO of Eyesoda.com Kneko Burney

http://blog.compassintelligence.com/post/2008/09/04/Business-Mobile-Applications-Market-Set-to-Explode.aspx

Gender Bender Series - Part 1

by kneko 8/13/2008 12:06:00 AM
Part 1: Professional Men and Women Differ when it comes to Social Networking

Differences:  So, based on new research from Compass Intelligence, there is a slight gender gap when it comes to Social Networking.  We conducted an online survey with nearly 8000 professionals (CxO, VP and director titles only, full-time or self-employed).  This group is even split between professional men and women (refer to sample sizes in the table below).  The result show that professional men and women are not the same with regard to their familiarity with and use of Web 2.0 features, like IP Video conferencing and wikis.

According to those surveyed, it seems that professional ladies are less likely to use VoIP and IP Video Conferencing, wikis and presence, as shown in Table 1 below.   This table shows the percentage of respondents in each group indicating they currently use the indicated Web 2.0 feature.

Table 1.Web 2.0 Features in Use  - Male Biased“I do this now”Sample Size: Males(n=3915) Females(n=3998)
VoIP Conferencing 23% 19%
IP Video Conferencing 29% 24%
Wikis 18% 14%
Presence 21% 18%
 

Why Different? The main reason for the difference between the sexes is that pro-ladies are much more likely to say they are “not familiar” with these particular 2.0 capabilities.  There is a 9 – 10 point spread the features shown in Table 2 below.  But, as also shown, there is a knowledge gap in both sexes.  Web 2.0 features are still reasonably exotic, even among professional men.  However, it’s even more pronounced for professional women, suggesting that more education from vendors is needed there.

 
Table 2.Web 2.0 Features Not Using“I am not familiar with this”Sample Size: Males(n=3915) Females(n=3998)
VoIP Conferencing 40% 50%
IP Video Conferencing 30% 39%
Wikis 54% 64%
Presence 49% 57%

Social Networking Sites (Business subject)

44%

51%

 

Similarities: Pro-ladies don’t lag in everything 2.0.  When it comes to “information collaboration”, such as blogs, webinars and Web conferencing, as well as when it comes to IM/Chat and social networking sites, pro-ladies are just as likely and pro-men to use these feature today.  In some case, the ladies are slightly more likely to use them, as shown in Table 3 below.

Table 3.Web 2.0 Capability in Use – No Gender Bias“I do this now”Sample Size: Males(n=3915) Females(n=3998)
Blogs (Business subject) 22% 22%
Webinars/Webcasts 40% 42%
Web Conferencing 43% 40%
IM/Chat 45% 47%
Social Networking Sites (Business subject) 24% 23%
 

So, why does this matter?  Well, professional women make up roughly half of the population of Web-enabled professionals in the US (about 20% of US employment) and are a major constituency online.  Often women, particularly, professional women, are underserved with regard to their online needs. As such, this large group (more than 13 million) might benefit from the added power of person-within-group aspect of Web 2.0 social networking features, if they get a little more education and outreach. 

The only barrier today is simple familiarity.  A little more explanation would help the uptake of “viral” marketing efforts among professional women and increase their likelihood to use new Web 2.0 tools.  And, it’s a commonly held thought that women are more loyal, so they may make the best base for beginning social networks.  Things that make you go hmmm…Basic Stats about US Professionals

·         CI estimates there are 27 Million professionals in the US workforce based on 2007 Bureau of Labor Statistics data, about 20% of the total workforce.

·         Compass Intelligence estimates that 51% of US professionals are male, or 13.8 million. 

·         Largest groups of professionals are Management, Biz and Financial Operations and Healthcare practitioners (doctors and so on).

 

 

About the author

Stephanie Atkinson
Managing Partner & Principal Analyst

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