Where in the world would you want to retire?

An American couple enjoying retirement in Costa Rica.

While the world may seem to be a pretty unsettled place thanks to the constant stream of negative news we hear from afar, in reality it’s never been easier to work and live overseas.

For one thing, digital communications have taken once-major barriers and turned them into nothing more than minor speed bumps.

Today, while Americans who have lived overseas for their careers may choose to return to the United States to retire, many others are moving in the opposite direction.

What countries are the best places for Americans to consider retiring to, all things considered?  It would seem that having a nice climate along with a vibrant culture and an interesting social scene are important factors. Personal safety ranks up there, too. Having an attractive cost of living would be another factor to consider – at least for most of us for whom budgets are important to follow.

International Living magazine has just published its newest listing of the “Top 10” countries for retiring abroad.  It’s the 26th annual list published by this magazine, which calculates a “global retirement index” by country and selects the best-scoring ones that are, as the magazine puts it, “outstanding destinations where you can live a healthier and happier life, spend a lot less money, and get a whole lot more.”

Which countries have made the 2018 list? Here are the Top 10, along with a quick wrap-up statement for each as to why:

#1. Costa Rica – “the world’s best retirement haven”

#2. Mexico – “convenient, exotic first-world living”

#3. Panama – “friendly, welcoming – and great benefits”

#4. Ecuador – “diverse, unhurried, and metropolitan”

#5. Malaysia – “easy, English-speaking, and first-world”

#6. Colombia – “sophisticated and affordable”

#7. Portugal – “Europe’s best retirement haven”

#8. Nicaragua – “the best bang for your buck in Latin America”

#9. Spain – “romance, history, and charming villages”

#10. Peru – “low-cost living, vibrant and diverse”

It’s interesting to note that of the countries on the Top 10 list, all but one of them are Latin American or part of the Iberian Peninsula.

I haven’t gone back and researched it, but I suspect that the countries on these lists were quite different going back 10 or 20 years prior.

For more information about the 2018 list and the 12 factors that went into creating the global retirement index for each country, click or tap here.

How about you? Which of these countries, if any, would you consider making your home in retirement?  Or is the notion of retiring abroad completely “foreign” to you?

QR Codes Live!

In marketing, QR codes have been the butt of jokes for years. The funky little splotches that showed up in advertising on everything from magazines to transit buses were supposed to revolutionize the way people find out information about products and services.

Except that … QR codes never lived up to the hype.

While a few advertisers stuck with QR codes doggedly, for the most part we saw fewer and fewer of them after their first initial years of splash.

But now, QR codes are making a comeback. It turns out that they’ve become central to mobile marketing tactics.

We’re talking about QR couponing, which is exploding.  Newly published estimates by Juniper Research, a digital marketing consulting firm, show that nearly 1.3 billion coded coupons were redeemed via mobile devices in 2017.

Moreover, Juniper is forecasting that the number of coupons with QR codes being redeemed via mobile devices will continue strong at least through 2022.

A big reason for the sharp increase in use is built-in QR functionality on smartphones – led by Apple which has begun including QR reader functionality as part of the camera application on its new iPhones.

This action takes away a huge barrier that once confronted users. The lack of in-built readers meant that consumers had to download a separate QR code scanner app.

We know from experience that one more action step like that is often the difference between market adoption and market avoidance.

But with that hurdle out of the way, major retailers are starting to take advantage of the more favorable playing field by finding more uses of QR code technology. Target for one has announced a new Q code-based payments system to scan offers directly to their device-stored payment cards, which can be scanned at checkout for instant payment.

Expect similar activity in loyalty cards, making their redemption easier for everyone.

The newly revived fortunes of QR codes remind us that sometimes there are second acts for MarComm tactics and technology – and maybe it happens more often than we expect.

Changing Cross-Currents in E-Mail Marketing

Many marketers find it one of the easiest marketing tactics to execute … but also one of the least effective in terms of results.

In the realm of digital marketing, e-mail marketing has to be one of the most mature choices of tactics these days. It’s been around for a long time, and its relatively small hard-dollar costs make it one a natural “go-to” marketing tactic for many companies.

But today, a declining percentage of marketers see e-mail as one of their most effective tactics in the digital marketing arsenal.

So, what’s the problem?  Many companies have the technology and skills in place to perform e-mail programs using in-house resources. That’s the good news.

The not-so-good news is that more companies are seeing their e-mail programs becoming less effective — for a variety of reasons. Among them are these:

  • E-mail filtering technology is making it more difficult to land e-mails into inboxes.
  • Privacy regulations are becoming more stringent.
  • Overuse of this marketing tactic means more e-mail messages than ever from more companies are being deployed – and with that, more of them are being ignored by recipients.
  • While e-mail used to be the only digital direct marketing game in town, today there are a bigger variety of ways to engage with customers and prospects.
  • Building a high-performing e-mail list that also conforms to regulatory stipulations is more challenging than ever.

This last point is particularly nettlesome for marketers: Data quality and data management are considered among the most difficult challenges for marketers – and also among the least effective in terms of their success.

So, in some ways the factors affecting the use of e-mail marketing are working at cross-purposes. E-mail marketing is easier to execute than other digital marketing endeavors … but as for its effectiveness, many marketers rate other tactics higher, including content marketing and search engine optimization.

In the coming years, it will be interesting to see how attitudes and behaviors regarding e-mail continue to evolve. Will this time-honored tactic decline in importance, or find new life?  Stay tuned …

Fact Checkers: The “New-Old” Job in Journalism

The topic of “fake news” is all over the journalism ecosphere these days. It’s the subject of charges and countercharges tossed back and forth between politicians, industry specialists, the scientific community and the media.

In the current environment, even the slightest mistake in the media – no matter how innocuous – can turn into a contentious social media debate, whereas in the past it might have merited just a quick corrective notation as a follow-up.

These days, more often than not everyone gets sullied in the process – even innocent parties caught in the crossfire.  So, it isn’t surprising that as the issue of “fake news” has risen in prominence, fact checking in journalism has taken on more importance than ever.

An IFCN global summit conference held in Madrid Spain in July 2017.

In 2015, the Poynter Institute established its International Fact-Checking Network to support initiatives aimed at ensuring better accuracy and journalistic best practices. In addition, over the past year the New York Times and several other prominent newspapers have brought more fact checkers on board – not merely to verify the information being reported, but also to work in “real time” with journalists – checking breaking news stories for accuracy as they are being produced.

These new fact-checking resources have been added without a lot of fanfare, but it’s a quiet acknowledgement that the “fake news” controversy is one that strikes at the heart of the press’s reputation.

But there’s a significant shortcoming:  The new emphasis on fact-checking is consequential in just one corner of the news universe.  The arena of “news” now extends well beyond traditional outlets to also encompass social media platforms, blogs and a myriad of informational websites that frequently offer a distinct “point of view” in their reporting.

So, while the fact-checking resurgence may help buttress the reputation of “legacy” news organizations such as high-profile newspapers, national TV networks and marquee online news sites, that doesn’t mean it’s reaching into the many other places where people encounter and consume news.

I suspect that the “fake news” phenomenon is going to be with us for the foreseeable future, despite all of the good-faith efforts to keep it in check.

New Car Technologies and their Persistently Bullish Prospects

Let’s dip back a few years for a quick history lesson. It’s 2010, and various business prognosticators are confidently predicting that the number of electric cars sold in the United States in 2013 will be ~200,000 vehicles.

And in 2015, electric auto sales will reach ~280,000 units.

What really happened?

In 2013 total electric car sales in the United States were fewer than 97,000.  In 2015, the figure was higher – all of 119,000 units.

It’s worse than even these statistics show. The auto industry’s own expert predictions were off by miles.  In 2011, Nissan CEO Carlos Ghosn predicted that his company would have more than 1.5 million Renault-Nissan electric vehicles on the road.

That forecast turned out to be about 80% too high.

More recent sales forecasts for electric cars are much more realistic. As has become quite clear, many consumers aren’t particularly interested in shifting to a newer technology of automobile if they have to pay substantially more for the technology up-front – despite the promise of lower vehicle operating expenses over time.

Even more telling, a recent McKinsey survey found that of today’s electric car owners, only about half of respondents indicated that they would purchase one again. Ouch.

So, what we now have are projections that electric vehicles won’t reach 4% of the U.S. automotive market until 2023 at the earliest. That’s about a decade later than those first forecasts envisioned reaching that penetration level.

Is it all that surprising, actually? If we’re being honest, we have to acknowledge that the most lucrative markets for electric vehicles are in highly prosperous, population-dense urban areas with strict gasoline emissions standards – the very definition of a “limited market” (think San Francisco or Boston).

Thinking about the next technological advancement in this sector, the industry’s newest “bright shiny thing” is self-driving cars – also referred to as the classier-sounding “autonomous vehicle.” But it appears that this sector may be facing similar dynamics that made electric vehicles the “fizzled sizzle” they turned out to be.

Consider the challenges that autonomous vehicles face that threaten to dampen marketplace acceptance of these products – at least in the short- and medium-term:

  • The regulatory and legal ramifications of autonomous vehicles are even more daunting than those affecting electric cars. For starters, try assigning liability for car crashes.
  • Autonomous vehicles require sophisticated mapping and data analytics to operate properly. The United States is a big country. Put those two factors together and it’s easy to see what kind of a challenge it will be to get these vehicles on the road in any major way.
  • How about resistance from powerful groups that have a vested interest in the status quo? Of the ~3.5 million commercial truck drivers in the United States, I wonder how many are in favor of self-driving vehicles?

Not every new technology operates in a similar environment, and for this reason some new-fangled products don’t have such a long gestation and ramp-up period.  Take the smartphone, which took all of ten years to go from “what’s that?” to “who doesn’t own one?”

But there’s quite a difference, actually.  Smartphones were a sea change from what people typically considered a mobile phone, with oodles of added utility and capabilities that were never even part of the equation before.

By contrast, consumers know what it’s like to have a car, and even self-driving cars won’t be doing anything particularly “new.” Just doing it differently.

At this juncture, McKinsey is predicting that autonomous cars will reach ~15% of U.S. automobile sales by the year 2030.

Maybe that’s correct … maybe not. But my guess is, if McKinsey’s prediction turns out to be off, it’ll be because it was too robust.

Changing Buying Behaviors: Clues from Thanksgiving Weekend 2017

If there was any doubt that we’re in the midst of fundamental changes in consumer buying behaviors, the results from the opening days of the 2017 holiday season have put such questions to rest.

Movable Ink, a firm that enables content personalization within e-mails, has just published some insightful statistics it compiled from Thanksgiving weekend last month.  Movable Ink logged nearly 438 million e-mail opens between the Wednesday before Thanksgiving and the following Cyber Monday. What did it find?

To start with, it found that recipients engaged with them.

Of the e-mails sent on Black Friday, nearly 50% achieved read lengths of at least 15 seconds. On Cyber Monday, the results were nearly the same (~46%).

Fifteen seconds may not seem like a long time to engage with an e-mail, but it’s light years compared to what is often experienced in consumer e-retail.

Movable Ink also found that the majority of the e-mails were opened on smartphones — far outstripping desktops and tablets:

  • Smartphones: ~53% of e-mail opens
  • Desktop computers: ~25%
  • Tablet opens: ~16%

An equal 53% of conversion actions happened on smartphones … but desktop conversions proved to be higher than their open stats, and e-mails opened on tablets were much less likely to experience conversions:

  • Smartphone: ~53% of e-mail conversions
  • Desktop computers: ~38%
  • Tablets: ~8%

Consumers were certainly in a buying mood over the holiday weekend, with purchases averaging between $120 and $140 on each of the four days of the long weekend:

  • Black Friday: An average of $124 spent
  • Saturday: $120
  • Sunday: $119
  • Cyber Monday: $141

However, while smartphones led in terms of e-mail engagement, when it comes to actual dollar sales smartphones come in last – by a country mile:

  • Desktop computers: ~$162 average holiday weekend total spend
  • Tablets: ~$107
  • Smartphones: ~$85

We can acknowledge that smartphones have become the most important method for reaching consumers with product content, coupons and special offers.  And yet, significantly more purchasing continues to happen on desktops.

One takeaway is that for all of the convenience smartphones purport to provide, the purchasing experience on mobile devices doesn’t yet match the experience on desktop computers.

It would also help if there was more similarity between the purchasing process sellers are delivering across all platforms. That continues to be a missing ingredient with some sellers, and it’s likely explaining at least some of the dampening effect on mobile sales revenues.

Smartphones go mainstream with all age groups.

Today, behaviors across the board are far more “similar” than they are “different.”

Over the past few years, smartphones have clawed their way into becoming a pervasive presence among consumers in all age groups.

That’s one key takeaway message from Deloitte’s 2017 Mobile Consumer Survey covering U.S. adults.

According to the recently-released results from this year’s research, ~82% of American adults age 18 or older own a smartphone or have ready access to one. It’s a significant jump from the ~70% who reported the same thing just two years ago.

While smartphone penetration is highest among consumers age 18-44, the biggest increases in adoption are coming in older demographic categories.  To illustrate, ~67% of Deloitte survey respondents in the age 55-75 category own or have ready access to smartphones, which is big increase from the ~53% who reported so in 2015.

It represents an annual rate of around 8% for this age category.

The Deloitte research also found that three’s little if any difference in the behaviors of age groups in terms of how they interact with their smartphones. Daily smartphone usage is reported by 9 in 10 respondents regardless of the age bracket.

Similarly-consistent across all age groups is the frequency that users check their phones during any given day. For the typical consumer, it happens 47 times daily on average.  Fully 9 in 10 report looking at their phones within an hour of getting up, while 8 in 10 do the same just before going to sleep.

At other times during the day, the incidence of smartphone usage quite high in numerous circumstances, the survey research found:

  • ~92% of respondents use smartphones when out shopping
  • ~89% while watching TV
  • ~85% while talking to friends or family members
  • ~81% while eating at restaurants
  • ~78% while eating at home
  • ~54% during meetings at work

As for the “legacy” use of cellphones, a smaller percentage of respondent’s report using their smartphones for making voice calls. More than 90% use their smartphone to send and receive text messages, whereas a somewhat smaller ~86% make voice calls.

As for other smartphone activities, ~81% are sending and receiving e-mail messages via their smartphone, ~72% are accessing social networks on their smartphones at least sometimes during the week, and ~30% report making video calls via their smartphones – which is nearly double the incidence Deloitte found in its survey two years ago.

As for the respondents in the survey who use smartwatches, daily usage among the oldest age cohort is the highest of all: Three-quarters of respondents age 55-75 reported using their smartwatches daily, while daily usage for younger consumers was 60% or even a little below.  So, in this one particular category, older Americans are actually ahead of their younger counterparts in adoption and usage.

The Deloitte survey shows pretty definitively that it’s no longer very valid to segregate older and younger generations. While there may be some slight variations among younger vs. older consumers, the reality is that market behaviors are far more the same than they are different.  That’s the first time we’ve seen this dynamic playing out in the mobile communications segment.

Additional findings from the Deloitte research can be found in an executive summary available here.