Mary Meeker, partner at VC firm Kleiner Perkins Caufield & Byers is a masterful analyst of Internet trends.
At the 2011 Web 2.0 Summit last week, Meeker lays out a list of 10 trends based upon many data points.
What do these trends mean for radio?
Mobile Usage of Radio will Rise: Mobile subscriber growth is exploding as internet adoption had in the last decade. Smartphone shipments have surpassed feature phone shipments in the U.S. and Europe. Specifically, iPhones, iPads and Androids sales have exploded. Obviously, your station needs to have apps in place, readily available for listeners, and radio needs to work with ratings providers to accurately measure usage of radio via web and apps, and in PPM markets, how we deal with usage with headphones.
Data. Data. Data. There is an immense amount of data at our fingertips. Advertisers want more certainty in calculating ROI and effectiveness. Radio stations can measure clicks on its websites. Ad effectiveness research will prove to be a critical component of what radio stations offer advertisers.
User Interface: Meeker points out that Steve Jobs was the man who transformed computers from utilitarian boxes to “beautiful objects we could use in thousands of ways to aim to make life better.” Thanks to Jobs, consumers expect an easy-to-use interface. Is your website easy to navigate?
Meeker predicts that voice recognition, sound creation and sharing will grow rapidly. Considering the amount of usage of radio that currently and will occur on smartphones and in-car, voice recognition features would be critical for radio.
Commerce: E-commerce now represents 8% of retail commerce. There is huge smartphone usage by shoppers using apps to find the best deal. Imagine how powerful a radio station partnership would be with a tie-in with ShopSavvy or other e-commerce tools.
Advertising: Meeker profiles the mediums who enjoy a much higher proportion of spending compared to consumer usage (print).
Content Creation: Meeker says content has become commoditized. Newspaper revenue has been declining while Google revenue has been rising. Radio stations need to provide LOCAL content…but the real winners will be those radio outlets who combine proprietary content with aggregated content that is focused on target listeners, so radio station sites and Facebook pages become entertainment and information destination points. Radio has tremendous up-side in this area.
Mobile devices are Empowering People: Over 200 million farmers in India receive payments via mobile devices. Meeker pointed out how instrumental mobile devices are when news happens. Listener-driven content is one-way radio completes a 360-degree loop relationship with consumers.
Here is her presentation that you can view or download:
http://www.scribd.com/doc/69309864/KPCB-Internet-Trends-2011#