For US online adults, wearable technology is no longer the stuff of myth. Over the past year alone we’ve witnessed the launch of the Apple Watch and iterations on early wearable products. Wearable devices are now making their media cameo across a variety of channels and topics ranging from politics to pop culture.
According to Forrester’s Consumer Technographics® survey data, around one-fifth of US online consumers use a wearable gadget. While the adoption rate is higher among young, wealthy males, wearables are already breaking into segments that aren’t typically considered among the early adopters. Most individuals tend to use the technology for health- and fitness-related activity; however, consumers demonstrate a growing interest in using wearables for several different functions:
On 6th October, 2015 Microsoft launched a number of new devices into the market, including the Microsoft Surface 4, Surface Book, and a number of new Lumia smartphones. While the hardware is certainly attractive, that is not enough to peak my interest, nor that of my clients. What is interesting, however, is the introduction of the Microsoft Display Dock and Continuum for phones. This new technology allows users to connect their smartphone to a screen, keyboard, and mouse and use the smartphone on a large screen – running universal Windows apps designed for the PC and phone. Suddenly the power of Windows 10 as a universal operating system can be realized.
While not a complete PC experience, it will be enough for a lot of users within your business. Most firms have employees that only require casual PC access (think site staff in construction firms, store management in retail, traveling sales staff, factory floor management teams etc). At present we spend more than we need to in order to serve these employees – often providing a dedicated PC or laptop for them – along with their smartphone. In a world where universal Windows apps are readily available, many or all of these users could be given a smartphone and a Display Dock to use with a screen on-site or at home – helping you save money and direct this spending perhaps to rewriting your internal applications as universal Windows apps. Even a communal screen and dock would be enough in some workplaces.
It’s no secret that marketers are under increasing pressure to be accountable, while an increasingly fragmented media environment compounds the perennial challenges of marketing measurement. Meanwhile, consumer insights pros are improving skills and gaining ever more powerful tools to harvest and analyze the data from web, mobile, and social marketing. The scale and speed requirement of today’s marketing world strained legacy marketing measurement approaches like attribution and marketing mix modeling .
We knew the convergence of different marketing analytics approaches was inevitable so earlier this year, my colleague Jim Nail and I began sharing our ideas on where marketing measurement was headed. We agreed each approach provides only a partial answer to the marketing ROI puzzle and they shared enough methodological similarity that merging them was plausible.
Yesterday morning, many of us in the United States awoke to some troubling news: the European Court of Justice (ECJ) had ruled that the Safe Harbor agreement is no longer valid. Security & risk (S&R) and data management folks kicked into high gear. Customer insights and digital marketing teams...? Well, the news slipped past mostly unnoticed. That's a mistake.
Let's start with a primer on Safe Harbor. If you're a multinational company doing business in Europe, Safe Harbor is the agreement under which you've been allowed to bring European customers' data back into your servers in the US for purposes of targeting, analytics, campaign management, etc. If you work with a US-based database MSP, digital or CRM agency to manage customer data, they've likely been relying on the same agreement. It's a nearly 20-year old agreement that was put in place to bridge the gap between Europe's strict data protection laws and America's relative dearth of them.
Now, that agreement has been deemed invalid, which means that every company serving European customers needs to reexamine its data practices. Of course, this is primarily the purview of our technology management peers. But customer insights professionals need to partner closely with them on two fronts:
Speak up about your third-party data sharing practices. This includes sharing between business partners (for example, passing customer data to a firm that administers your loyalty program or manages warranties), sharing CRM data with digital marketing vendors, and even using third-party tracker on your website that collect IP addresses. Any third party data sharing could come under scrutiny from the European Data Protection Authority, so you'll want to have a consent-based model for collecting and sharing that data soon.
As CIOs, we all know digital disruption is happening at a rampant rate. The challenge we face is moving it from theory to reality. An executive at a client company recently posed the following questions to me: “How do you actually innovate and defend against this digital disruption without blowing up the budget? How do you really do that?”
For me, there are definitely a few steps that take this often discussed CIO requirement from the abstract to the concrete:
Are you close to your customers?
Everyone has customers of some kind, including B2B. Do you know where the pain points are in your customer experience? Where the opportunities are to innovate? You’ve got to understand this dynamic and the best way to start that is with customer journey mapping. Follow it up by keeping this “conversation” going by leading or staying involved in a regular customer testing and feedback effort or program. Above all, get out and talk to customers!
Can you innovate on your own mainstream platforms, quick and dirty?
If you can’t innovate easily on your major internal platforms — weeks or days, not months for moderately/small-sized innovations — digital disruptors and likely your direct competitors both have a significant leg up on you. This year alone, we’ve launched 35 small-to-medium, innovative improvements to our business by taking advantage of our SaaS platform. Business moves too fast to wait for months.
Do you use the same tools that startups use to go fast?
My mission at Forrester is to help ebusiness executives transform the role of payments from financial utility into an engine for customer engagement, revenue growth and improved customer experience.
A barrage of new innovation and business models are upending how consumers and businesses make and receive payments. If merchants and businesses do not consider or implement these new innovations they risk losing customers and ultimately relevancy.
Customer obsessed businesses can turn payments disruption into business advantage. Success hinges on making technological and organizational shifts that turn the view of payments from customer transactions to an engine for customer growth.
Businesses must consider the following challenges if they want to turn payments into customer advantage:
If you're a brand-side marketer whose company uses word of mouth marketing, could you take a few minutes to complete our survey? It won't take long -- and to thank you for your time, we'll be sure to send you a copy of the aggregated data. We appreciate your participation!
Get ready for AWS business intelligence (BI): it's real and it packs a punch!
Today’s BI market is like a perpetual motion machine — an unstoppable engine that never seems to run out of steam. Forrester currently tracks more than 50 BI vendors, and not a month goes by without a software vendor or startup with tangential BI capabilities trying to take advantage of the craze for BI, analytics, and big data. This month is no exception: On October 7, Amazon crashed the party by announcing QuickSight, a new BI and analytics data management platform. BI pros will need to pay close attention, because this new platform is inexpensive, highly scalable, and has the potential to disrupt the BI vendor landscape. QuickSight is based on AWS’s cloud infrastructure, so it shares AWS characteristics like elasticity, abstracted complexity, and a pay-per-use consumption model. Specifically, the new QuickSight platform provides
New ways to get terabytes of data into AWS
Automatic enrichment of AWS metadata for more effective BI
An in-memory accelerator (SPICE) to speed up big data analytics
An industrial grade data analysis and visualization platform (QuickSight), including mobile clients
Title got your attention? It should. In a report I just published this week, I use our Forrester Consumer Technographics data to identify the 7% of adults who are digital cord-nevers -- measured as people who have never paid for TV and who are under 32 years of age. This is the worrisome group whose arrival TV-industry pros have nervously anticipated. As we show in the report, they are officially now larger than the entire adult population of cord-cutters, who come in at 6% of all adults. Put them together and you have 15% of adults who are not paying for TV while still getting all the TV value they need from a combination of Netflix, Amazon Prime Video, and other tools.
Don't jump out of any Times Square windows just yet. TV is still massively popular and will continue to be. I wrote that report earlier this year and Forrester clients can read it here. These defector groups are going to grow over time, true. And as the title of this post suggests, if we model this behavior out over the next 10 years, we expect that 50% of adults under 32 will not pay for TV, at least not the way we think of it today. That compares to 35% of that age group that doesn't pay for TV today. (That's right, a third of them are already out of the pay TV game).
I bring tidings of great joy to the Forrester community, and especially to our clients! We have a new analyst on the Infrastructure & Operations Research team! It took a long time to get the right person, but we finally did. Once you meet him (and you likely already have), you will agree!
The newest Principal Analyst on the I&O team is Robert Stroud! Rob comes to us after a long stint at the software company CA, where he was most recently the VP of Strategy and Innovation. Central to his recent work is a significant amount of evangelism about DevOps, the hot movement promoting rapid application and technology service delivery. He has been very active in the governance and service management communities for years, holding many leadership positions. He just wrapped up his tenure as the International President of ISACA and was a primary author of the last few versions of the COBIT framework. He has won several awards in this community in recognition of his many achievements – all well deserved!