Three of the four leading vendors – Adobe, Salesforce, and Oracle – base their CCCM solutions on email service provider acquisitions. All have expanded their cross-channel coverage, and their customer data management and analytics functionality continues to evolve. Conversely, SAS is the only leader among traditional CCCM vendors, because of its customer data management and analytics prowess, as well as evolving digital marketing capabilities.
IBM is a strong performer because of its enterprise CCCM and digital marketing capabilities, but it has yet to fully integrate its acquired assets. Similarly, Selligent is currently integrating its CCCM and digital marketing capabilities for the mid-market. Pitney Bowes and Pegasystems offer solid analytics and RTIM capabilities, though they lag the leaders when it comes to outbound digital marketing. SmartFocus, Emarsys, and Experian are challenging established CCCM and digital marketing vendors with their interaction-focused solutions. RedPoint Global offers customer data management and marketing automation to support CCCM execution.
Two weeks ago, I was lucky enough to spend 10 days in Italy on a vacation with my wife and some friends. As we walked the Path of the Gods, made our own Neapolitan pizze, and enjoyed the gorgeous views of the Amalfi coast, different people in our group would pay for a limoncello here or a glass of aglianico there. As such, our financial activity was a mix of different individuals spending various amounts for a range of stuff. But our group was often too busy having fun to carefully track who paid how much for what and when.
Enter Splitwise* a non-bank mobile app that lets groups of people easily track their spending and settle their short-term debts to each other (see screenshots below). We used it throughout our trip, and it was a breeze.
But why didn’t a bank build this kind of convenient digital offering first? Or why don't more financial providers integrate with Splitwise and other disruptors to build ecosystems of values for their customers? Many bank executives and digital banking teams say their goal is to help customers better manage their finances (and increase retention and engagement by doing so). But too few financial institutions have focused on what Forrester calls the shared finances opportunity. Forrester defines shared finances as:
Any situation in which a person acts as an observer of, partner in, or proxy for another person's finances.
Moonlighting as a contributor to our CMO role’s research, I’ve just published a major new report about how virtual reality will affect marketers, collaborating with Forrester's lead on digital disruption, James McQuivey, PhD.
CMOs and other marketers have four choices when it comes to virtual reality (VR). Most of you should wait and see, because there’s no business imperative to invest scarce time and resources in VR this year. But there are three other choices available to digital predators – that is, CMOs at companies that want to shape trends, not follow them:
Crawl – The Coachella music festival went a step beyond providing an event app: they handed out thousands of cardboard VR headsets to attendees. Since festival-goers can’t be everywhere at once, they can catch shows that happened on other stages, extending and rounding out the benefits of attendance. They recognized that consumers don’t yet own their own VR devices, so they gave them out as part of the experience to deepen engagement.
It seems like nearly everyone is ready (or at least willing) to add intelligence to their applications. Despite the enthusiasm, developers building cognitive applications have encountered some real growing pains. The way we're going about things, it's almost begun to feel like the promise of cognitive computing would collapse like the AI hype in the 1980s or the first robotics hype in the 1960s and 70s. Thankfully, instead cognitive breaking down, we're breaking down cognitive.
Intelligent software is being taken down to the the atomic level so that developers can easily embed cognitive capabilities into applications. Instead of being totally overwhelmed by the breadth of cognitive possibilities, developers can instead use cloud-based API services to pick from among a menu of cognitive services. Services for image recognition, facial recognition, dialog, sentiment analysis, recommendations and more are callable via APIs no fuss no muss - pass the right parameters and the APIs will do the rest. The market landscape of these services is beginning to burst and bloom, much faster than expected. Developers can now build up cognitive applications with IBM's Watson Developer Cloud, HP is augmenting intelligence with Haven OnDemand, Microsoft has recently introduced Cognitive Services, and Google has begun to build the foundations with CloudML.
Are you building applications using these platforms to add more intelligence to your application experiences? What do you think about their potential to help realize the promise of cognitive computing? Let us know in the comments, I'm excited to see what the future holds.
During a recent discussion of the Age of the Customer and how it applies to government, one of the participants from a government agency essentially asked why they should care. The argument was “If I’m providing passport services why does customer experience matter to me? My “customers” can’t walk out that door and find another passport services provider.”
Needless to say I was taken aback – not shocked really, this is the government after all and not traditionally known for accessible or user friendly services. But personally my experiences have never been as bad as the stereotype of government. In fact, I just received a new passport in 2 weeks, having been told that it might take 3 – 6 weeks. And, at least the rhetoric of late has certainly embraced, in principle, more customer centricity in government. But here it was, the government monopoly argument rearing its ugly head. At least to play devil’s advocate, suggesting that the sentiment did exist somewhere in the organization.
After seven months as a Forrester research analyst, with scores of vendor briefings and customer inquiries under my belt, I've seen certain patterns to unlocking sales enablement success emerge. Five Keys To Sales Enablement Automation Success brings together lessons learned from vendors and practitioners to show where B2B marketers should focus their attention. Some considerations to keep in mind – especially when it comes to content:
Design content for conversation. B2B marketers naturally focus on outwardly focused content (PDFs, white papers, videos, third-party, etc.) and use sales enablement automation to make that content visible and easy for sellers to use to engage with buyers. But sellers need more – they need information on how to use content to best engage not with emails and links but in conversation. That’s where the real connection is made.
Keep it concise and consistent. Shorter is better. Fewer is better. Whether that’s the amount of content or the places to discover it, less is more. Using analytics, marketers can see what content is used, how often, and by whom. That unlocks insight into how to improve quality, not quantity.
Build in collaboration to improve customizing. Sellers will always need to personalize and customize content, whether it's an email, a presentation, or – most frequently – any sort of proposal. Analysis can show what is most frequently changed, and marketers can use that to better understand how to improve content.
I’ve recently been studying what a customer-obsessed operating model means for Purchasing functions and the software they use. I've concluded that Purchasing needs to transform its approach to visibility and control, due to the tradical impact that Mobility has on procure-to-pay (P2P) processes. I've been warning ePurchasing software companies for years about the potential impact of Mobility, but while a few visionaries have heard and acted on the message, most are lagging behind. That may be OK while their customers – mostly Finance and Procurement professionals – are similarly behind the times, but they may be unable to catch up when the market finally starts to demand fully mobile solutions. And customer-obsessed organizations will demand mobile P2P solutions, because they need to enable employees to quickly and easily buy the goods and services they need, so that those employees can get on with their main job, which is winning and serving customers.
What the laggard vendors miss is that Mobility is not about a user interface that works on iOS and Android; its about making the software so smart that it works well in a mobile context. Many product managers tell me proudly “our software works the same on a mobile as it does on a PC”, but that completely misses the point; mobile apps needs to work completely differently from the way traditional PC-based software works.
Take requisition and invoice approval as an example. One leading P2P vendor claims that over 70% of approvals are either performed in its mobile app or via its email response feature. I would argue that few of these approvals are worth the paper on which they are rubber-stamped. A manager can check many aspects of a transaction on a PC because they can see a lot of information on their screen and can drill down to investigate potential problems. They can’t do that on a phone, because:
Crises don’t discriminate. Whether they are economic, geopolitical, technological or environmental, you can expect to have to deal with a major one soon. And how well you minimize the impact of that crisis is the difference between achieving your business objectives, and completely missing them, disappointing your customers, employees, partners, and shareholders in the process. Lucky for you (if you believe in luck and not the probability of chance events), Forrester’s risk experts have updated The Governance, Risk, And Compliance Playbook For 2016. I also recently finished a series of reports on the state of business continuity (which I have creatively named part 1, part 2, and part 3) to give you a jump start on your GRC efforts. Below, I’ve highlighted some of our most recent and exciting GRC research:
Google took a few big steps forward at Google I/O 2016 to fill in its portfolio to win, serve and retain customers in their mobile moments. Three new product announcements should propel Google forward. They include:
Google Home. Google Home looks like an incredibly promising (and necessary) entry into the home virtual assistant or agent hardware market. Like Amazon, Google led with a story of entertainment and media followed by that of virtual assistance. Google claims the combination of natural language processing, artificial intelligence and years of experience with consumer inquiry patterns via Search will push it beyond the competition. Google’s entry validates the space and its vision to sit between the consumers and their favorite brands. However, Google also failed to offer answers to questions such as a firm date on availability, price or access to the service – how open will access be for brands who want to engage their consumers on Google Home?
Allo. Allo is late to the instant messaging game, but on time for the bot frenzy. Brands are exploring bots that offer customer service or support and help them sell products and services. Google will launch Allo this summer with a host of well-known brands such as OpenTable, Uber and GrubHub. Like Facebook -- and despite a dependence on advertising revenue -- Google did not announce any opportunities specific to marketers for advertising or broad consumer engagement. Google will still facilitate consumers getting reservations or finding concert tickets – sitting between the brand and the consumer. The strategy is both expected and smart.
It's the age of the customer, and only the leaders who know how to lead their organizations to increased customer obsession will be able to keep up with hyperadoptive consumers. Those consumers already expect to get what they want, when, where, and how they want it. The only question will be who will give it to them? Will it be you?
It's a question I asked today on stage at Forrester's Marketing Europe 2016 forum in London. I shared with them an overview of my recent report, "Leadership In The Age Of The Customer," a months-long project that revealed the five things that customer-obsessed leaders must do. I then asked the attendees to answer five questions. Just more than 40 executives took my short five-question survey, allowing me to compare the marketers in the UK and from across Europe with their counterparts in the US, where I asked the same questions just a few weeks ago. See the chart below to see how they compared.
As you can tell, our UK colleagues are more confident in how effectively they measure customer obsession. That's a tremendous thing. In a few key areas, however, they fall slightly behind, such as in recognizing and rewarding customer obsession in others and especially in providing the resources that are needed to achieve customer obsession.
What to do next? You can measure yourself in more detail than these five questions — in a survey that still takes fewer than 10 minutes to complete. Just go to http://bit.ly/AoCLeadershipStudy to participate in and learn more about the full study.
Also, sign up for our upcoming webinar, "Adapting Leadership To The Customer-Led Market." See the link below, and click to register. See you there.