Media Agencies Must Provide Value Beyond Buying

Sarah Sikowitz

Changes in consumer behavior and technology are driving seismic shifts in media buying. Marketers are feeling this acutely as they reach out to media agency partners for strategic support and solutions. At the same time, media agencies are struggling to carve out ways to differentiate — broadening capabilities and moving into new marketing realms. 

The result: a crowded market where it’s difficult to identify which agency partners can strategically engage customers through paid media.

In our Vendor Landscape: Media Buying Agencies (subscription required), we surveyed marketers and over 40 agencies and found an environment where efficient buying is table stakes.

Marketers want media agencies to provide value beyond planning and buying with:

  • Data-driven strategies
  • Cross-channel measurement
  • Creative ideas
  • Unprecedented, but necessary, transparency

Marketers should read this report to understand how media agencies are evolving and what to prioritize in the agency selection process.

I am currently taking inquiries and offering advisory on this topic.  Please reach out to learn more or share your experience in media agency selection.

Account-Based Marketing Will Elevate, Not Eclipse, Lead-To-Revenue Management

Lori Wizdo

The explosion of interest in account-based marketing has created uncertainty for business-to-business (B2B) marketers who have invested in marketing automation to optimize their lead-to-revenue processes. It’s not surprising because the vendors that market ABM-badged wares – and many pundits -- generate attention with controversial proclamations, like: “ABM is the death of demand generation”; “ABM replaces inbound marketing” and “Lead to Revenue Management (L2RM) is only a suitable strategy for selling products and services to small businesses”.  

While these arguments might help hawk new technology, they create confusion about both ABM and L2RM. It’s not surprising that 73% of B2B survey respondents agree that, as an industry term, ABM lacks specificity and gets applied to many different approaches inconsistently.  In my most recent report, Account-Based Marketing Will Elevate, Not Eclipse, Lead-To-Revenue Management (subscription required), I set out to rationalize the concepts of ABM and L2RM.  

Key takeaways:

  • B2B marketers should use ABM to accelerate the pivot to customer obsession.
  • B2B marketers need to decompose ABM into its component parts: strategy, tactics and technology.
  • Forrester's Go-To-Customer Strategy Matrix helps B2B marketers fine-tune their ABM strategy.
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What Product Development Orgs Can Learn From The Samsung Crisis

Nate Fleming

As details regarding the termination of the Samsung Galaxy Note 7 smartphone continue to unfold, there are several important lessons, both technological and organizational, that manufacturers and product organizations should take away from their peer’s costly product crisis:

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The Data Digest: Metropolitan Chinese And Metropolitan Indian Customers Lead The Demand For Business Transformation

Anjali Lai

Consumers in Asia Pacific are in the midst of a digital transformation. Within the past decade, online penetration in China grew from 8% to 54%, while mobile internet access grew more than sevenfold. Today, the rate of customer evolution is gaining speed, as consumers are increasingly willing to experiment with new products, rely on devices, demand seamless digital experiences, consume large volumes of information, and are committed to seeking out the best experiences for themselves.

Forrester’s Empowered Customer Segmentation measures these key shifts in customer behaviors and attitudes and anticipates how consumers both respond to digital innovation and demand it. An analysis of our Consumer Technographics® data for Asia Pacific shows that the most rapidly evolving customers dominate in metropolitan China and metropolitan India:

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September of Sapphire: How The New Chase Credit Card Became An Overnight Sensation

Dipanjan Chatterjee

Ben Schlappig doesn’t have a home. He lives on planes and in hotel rooms. And he’s a big reason why Chase’s new credit card has generated unprecedented hysteria.

The credit card business is not where you go to get a brand fix. Most of the brands in this category tread water in the sea of sameness, inspiring little passion and much aggravation by inundating mailboxes with junk mail. And then there's the new Chase Sapphire Reserve:

  • The card was so wildly popular that, upon launch, Chase ran through 12 months of metal stock in three weeks.
  • Unboxing videos popped up all over YouTube, clocking tens of thousands of views (yes you read that right, the nail-biting action of a credit card reveal).  
  • Chase reported an unexpectedly large number of applications from millennials, a group that so far has been generally indifferent about card brands.
  • Bloomberg Business Week put the new Chase Sapphire Reserve on its cover.

Here’s why this should have never happened:

  • As an extension of the existing Sapphire franchise, there was a fairly docile product extension
  • At a $450 annual fee, it severely limited relevance in a category awash with no-fee cards
  • The card sweetened, but did not fundamentally alter the basic formula of perks and points. Nothing earth-shatteringly innovative here.
  • Advertising and promotion leading up to the launch? Zero.
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Loose Lips Sink M&A Ships

Cheryl McKinnon

Companies look for merger & acquisitions opportunities to boost their growth.  But when confidential information gets exposed, it throws a monkeywrench into their confidential assessments, strategies and negotiations.  Recent news proves this once again.  Whether Twitter would be a good fit for SalesForce is a question - but that the news that Salesforce was considering it leaked into the public domain made their decisions harder.


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Brexit Makes Customer-Focused Innovation Imperative

Dan Bieler

Photo: Cover of Panorama magazine Italia

While uncertainty continues, focusing on innovation is your best chance of success. British Prime Minister Theresa May has repeatedly said, "Brexit means Brexit." This statement ensures that every business operating in the UK will experience an uncertain and volatile market environment for some time. In our conversations with CIOs and chief technology officers (CTOs) since the Brexit vote, Forrester has retained its view that only if companies retain a focus on customers will they ensure growth and innovation, especially in times of uncertainty. All CIOs and CTOs at businesses operating in the UK should:

  • Make the business case that innovation can help their firms deal with uncertainty. Top management will be distracted by many short- term tactical considerations relating to Brexit. Make the case that innovation will move you closer to your customers and help to deal with underlying uncertainty.
  • Partner with their risk managers. Developing innovations that rely on customer and machine data will expose businesses to regulatory and compliance risks. Plan your business technology and innovation strategies with the risk manager on your side.

The report Brexit Makes Customer-Focused Innovation Imperative summarizes Forrester’s recent discussions and outlines how companies can best drive their innovation in the wake of Brexit.


DevOps And The Mainframe, A Perfect Match?

Robert Stroud

Did someone forget to tell the mainframe it was irrelevant?

For many years, the much lauded death of the mainframe has been espoused by many pundits. Many believed the end of the mainframe would be further accelerated with the rapid growth of cloud adoption.  I am sorry to report to those naysayers, the mainframe didn’t get the message, and lives on, alive and well as the beating heart of many large businesses. For instance, the mainframe is leveraged by 92 of the top 100 banks worldwide, 23 of the top 25 US retailers, all 10 of the world’s 10 largest insurers, and 23 of the world’s 25 largest airlines.[i]

Mainframe is part of the digital business ecosystem

The drive for speed to counter competitors and deliver new and agile solutions has never been more evident.  Successful digital businesses have found the secret to unleashing the data and business processes within their mainframe-based applications. Starting with “ad-hoc” integrations between systems of engagement and systems of record, they soon find the ability to define innovative products and services is limited by an inability to evolve and improve their mainframe applications.  For instance, a simple mobile insurance application is actually just the gateway to a complex set of applications that must work seamlessly with the mobile application and with each other to provide customers and prospects with great experiences.

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Private Cloud Adoption Is Alive And Well

Jennifer Adams

While public cloud’s hypergrowth garners a lot of press, we expect opportunities to continue for private cloud solutions. In our recently published Private Cloud Solutions Forecast, 2016 To 2021 (Global) we expect the market to grow at a compound annual growth rate (CAGR) of 11.0% over the 2016-to-2021 period.

Private cloud can provide the speed-to-market and scalability of public cloud, yet with enhanced security. Improved IT infrastructure manageability and flexibility are the key drivers of private cloud adoption. Many regulated industries, such as financial services, will continue to use private cloud due to security and regulatory concerns.

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Local vendors challenge global players in our analysis of Europe's public cloud market

Paul Miller

Europe from space

Public Domain image of Europe, derived from NASA World Wind data, uploaded to Wikimedia Commons.

The hyperscale global clouds seem to crop up pretty much everywhere, these days. But we all know that customer requirements differ, from industry to industry, and from country to country. So... how do they cope, and how do we account for the peculiarities of different markets?

Today, we publish our latest take on the public cloud platforms market in Europe: The Forrester Wave™: Enterprise Public Cloud Platforms In Europe, Q4 2016Read the report itself, or sign up for my 3 November webinar to learn more.

The report (my first Wave, so allow me to feel pleased with myself) is, of course, interesting and useful in and of itself. But what's more interesting, perhaps, is that it's part of a collaboration that allows Forrester to account for those regional quirks.

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