The I&O role continues to notably evolve from a mere IT role to becoming a BT -- Business Technology -- role. This means taking an increasingly role in empowering customer-facing technologies. And as I&O pros shift toward becoming customer enablers, you should begin to closely track -- and to pilot -- a number of emerging technologies that can help your company attract, retain, and serve customers. Currently, myriad solutions exist; as one start-up vendor told me, "there are so many new technologies out there, it's hard for buyers to decide where to place their bets, so we just try to get our products into trial to prove the value." While the number of these technologies (and their vendors) is great, they tend to share one or more of the following characteristics. As you read the list, ask yourself the question associated with each factor:
Hyper-local. Are you experimenting with technologies that engage customers on a highly geographic (e.g. within 1 foot) basis? (Example: iBeacon)
Targeted. Are you piloting any technologies that can customize customer engagement based on who they are or what they feel? (Example: Facial Recognition)
Most apps are dead boring. Sensors can help add some zing. Sensors are data collectors that measure physical properties of the real-world such as location, pressure, humidity, touch, voice, and much more. You can find sensors just about anywhere these days, most obviously in mobile devices that have accelerometers, GPS, microphones, and more. There is also the Internet of Things (IoT) that refers to the proliferation of Internet connected and accessible sensors expanding into every corner of humanity. But, most applications barely use them to the fullest extent possible. Data from sensors can help make your apps predictive to impress customers, make workers more efficient, and boost your career as an application developer.
Peter O'Neill here. I’ve just finished the last peer-review of my presentation at the upcoming Forum For Marketing Leaders in London on May 13. All presenters go through a thorough review process before these events where other colleagues check through our outlines, drafts, and slide decks — all to ensure that Forrester delivers a concise and consistent story to the Forum attendees. The Forum will be all about going beyond the marketing campaign and delivering visible value in context and on an ongoing basis. There were some interesting discussions about our strong opinion about marketing campaigns a few weeks ago during the US version of the Forum in San Francisco and we all look forward to continuing these discussions in London.
I have shared the creation of my session with Lori Wizdo, who presented her version in San Francisco (see here for some comments on that session). We decided to do some “myth-busting” to help B2B marketers make better decisions about how to structure their lead-to-revenue management (L2RM) process based on their buyer journey research.
Apple's reported earnings revealed a strong product mix contrast: iPhone sales increased 17% in units and 14% in revenues, while iPad sales decreased 16% in units and 13% in revenues. What accounts for this contrast? Is the iPad's growth trajectory broken?
Simply put, the iPhone's addressable market has only continued to increase with Apple's continued international expansion. Only recently, for example, has Apple broken out in Japan (still the world's third-largest economy); only a few months after releasing the 5S and 5C across all three of Japan's largest carriers, iPhone models made up 9 of the top 10 phones sold. And for iPhone, unlike iPad, the route to sales comes through carrier relationships -- of which Apple has landed more recently.
By contrast, the iPad's year-over-year results lagged because:
Price competition in tablets has been fierce. With Android tablets under $200 now commonplace -- including Samsung's Galaxy Tab 3 and Amazon Kindle Fire HDX -- Apple's premium pricing is catching up to it.
Replacement rates are lower than expected. Why are prices catching up to iPad now? Because replacement rates haven't been as quick as with iPhone. The pace at which people purchase smartphones is quicker than that of iPads, even among the Apple faithful. This means that Apple is seeking an ever expanding market -- people without tablets. For later adopters, who didn't see the big deal early on, price matters more than for earlier adopters.
Alright, I admit it. I'm not necessarily the most loyal insurance customer. I like mixing things up to test out different experiences, which means that if you're my insurance company, I'm going to talk about you in my job...a lot.
Back in 2012 when I was writing the US Secure Auto Insurance Site Rankings report, I changed my car insurance to Progressive (so underwhelmed was I by their predecessor, I can't remember the name of the insurer, just that I got from my agent). And I not only changed to Progressive, I also switched from a traditional auto policy to the company's usage-based insurance coverage, SnapShot.
A few days after signing up, I was surprised to get this box in the mail--note the SnapShot logo on the packaging tape (and trust me that there's a Progressive logo on both ends of the box). Best of all, there was a compelling call to action on the box: "Plug In Today!"
And inside the shipping container? This smaller box, about the size of...the box an engagement ring might come in. Oh my! I felt like I was about to go with Flo on a Thelma and Louise-like adventure, assuming that we'd be safer drivers than they were, at least when the movie ended.
In the age of the customer, you need to be obsessed with your customers. And that obsession can pay off big time — as we have shown over and over again: Years of Forrester data confirm the strong relationship between the quality of a firm's customer experience (CX) and customer loyalty.
And this means revenue growth! Find out how exactly we calculate the revenue upside in the report The Business Impact Of Customer Experience, 2014. But here are the cliff notes: We built a model that shows how improving customer experience scores from below to above average affects loyalty, which in turn affects revenue in three categories:
Repurchase: incremental purchases from existing customers in the same year.
Switching: revenue saved by lower churn.
Recommendation: new sales driven by word of mouth.
When we looked at the data, this year, we found new and important developments that affect the revenue upside:
“Ok” is the new “poor.” Converging Customer Experience Index (CXi) scores mean that companies cannot rely on average customer experience to prevent churn and get people to buy more.
People talk. Consumers recommend companies more if they had a good experience, and they talk to more people about it — a multiplier in the effect of CX on word of mouth.
Once upon a time, insurers sat in the power seat when it came to their interactions with policyholders. The insurers understood the magic behind how insurance was sold, how premiums were calculated, and how claims were adjudicated. Those days are gone. In the Age Of The Customer, consumers are changing the rules and who wield the power. Thanks to all things digital, consumers have shifted from being passive sideliners and are willing — and able — to play more active and demanding roles across the insurance business. That means that digital must now be a core underpinning of an insurer’s customer experience philosophy, not an endpoint.
Just what are the factors propelling North American insurer agendas this year? For starters, it’s about:
Booming growth in revenues and profits. 2013 was a very good year for most North American insurers --the best since the financial crisis. Many are sitting on hefty policyholder surpluses and capital.
The fallout from HealthCare.gov. Balancing political winds with project management reality heaped more pressure on already stressed health plans, thanks to shifting deadlines, relaxed employer mandates, and zombie health plans. And as a result, trust across the broad healthcare ecosystem was undermined.
The risk of emerging insurers to meet the needs of digitally empowered consumers. Consumers are getting being trained to expect even more from their digital interactions. New insurers are coming to market offering new digital experiences that simplify, personalize, empower, and reassure customers.
Extreme weather. US and Canadian insurers have shifted to a posture of adaptation, and are looking to arm policyholders with new tools to better protect them from natural hazard risks.
A lot of people have been talking about Facebook’s new Nearby Friends feature for their mobile app, which gives users the ability to see which friends are nearby. But less discussed, and perhaps just as significant is another change—to a more contextually-relevant Facebook profile.
In the past, when you checked out another user’s profile, you would see the same static information including their profile photo and links to their friends and “about” pages. There were two problems with this. First, the information is rarely updated, so it becomes stale. Second, if you don’t know the person, it takes a bit of digging through their pages to find out if you know them or have anything in common.
The Facebook iPhone app’s recent update addresses these concerns by taking a contextual approach. Specifically, it presents more personalized and dynamic information, such as whether you and this person share any mutual friends, whether you happen to live in the same city, and what the friend has been up to recently. The app also prioritizes this information, so it’s one of the first things you see after you click on a user’s profile.
In fact, we’ve seen this trend in mobile apps – the best apps are moving away from static web-like experiences and are delivering more personal, relevant content, fast. In my report, The Best And Worst of Mobile User Experience, I found that leading mobile user experiences share common attributes that separate them from the pack. These leading experiences:
In a research world where we collect data on security technology (and services!) adoption, security spending, workforce attitudes about security, and more, there’s one type of data that I get asked about from Forrester clients in inquiry that makes me pause: breach cost data. I pause not because we don’t have it, but because it’s pretty useless for what S&R pros want to use it for (usually to justify investment). Here’s why:
What we see, and what is publicly available data, is not a complete picture. In fact, it’s often a tiny sliver of the actual costs incurred, or an estimate of a part of the cost that an organization opts to reveal.
What an organization may know or estimate as the cost (assuming they have done a cost analysis, which is also rare), and do not have to share, is typically not shared. After all, they would like to put this behind them as quickly as possible, and not draw further unnecessary attention.
What an organization may believe is an estimate of the cost can change over time as events related to the breach crop up. For example, in the case of the Sony PlayStation Network Platform hack in April 2011, a lot of costs were incurred in the weeks and months following the breach, but they were also getting slapped with fines in 2013 relating to the breach. In other breaches, legal actions and settlements can also draw out over the course of many years.
Campaign marketing is increasingly seen as background music and 'tuned out'. No surprise really that in a world where all brands push 'play' without consulting consumers that the outcome is a cacophony. It's one that consumers increasingly want to tune out, and today they have the tools to do so. From their cultivation of banner blindness , use of browser plugins like Adblock, through to enlisting more-aggressive privacy settings and skipping adverts at 8x speed. They simply don't want your message pushed at them and are taking steps to control the signal-to-noise ratio of useful vs. irrelevant data. Marketing must respond with a new quality in the relationship or risk being ignored.