The State Of Retail eCommerce In Brazil

Lily Varon

The economic decline in Brazil has hit the retail sector hard , but eCommerce is still growing. To understand the state of affairs in retail eCommerce in Brazil, in 2016 Forrester surveyed online retailers in Brazil together with industry partner e-Commerce Brasil. Here are a few findings from the research:

  • Retailers are feeling the pain of operating in the midst of Brazil's economic recession. Nearly 60% of online retailers say slowing consumer spending with be a significant barrier to their eCommerce growth over the next 12 months. Furthermore, more than half cite the operational constraints of keeping up with constant regulatory change.
  • Online retailers are increasing their eCommerce technology budgets. Despite the pressure to reduce costs during turbulent economic times, 64% of Brazilian retailers we surveyed are increasing eCommerce investments to help them weather the storm.
  • Investment priorities include marketing, mobile – and uniquely! - marketplaces. Retailers this year are focusing on marketing and mobile, much the same as in the US and other global markets. Unlike many other markets, however, Brazilian digital commerce pros are also prioritizing marketplaces. Why? Third party marketplaces are a relatively simple way to sell direct to consumer online. And retailers like Magazine Luiza and Walmart Brasil are prioritizing launching marketplaces on their own retail sites as a source of new revenues.
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Telefónica Digitizes Its Operations In Service Of The Customer

Fred Giron

With Dan Bieler

Like many organizations, Telefónica is going through a digital transformation. Our new case study “Telefónica Digitizes Its Operations In Service Of The Customer” investigates the approach that Telefónica has taken to prepare for digital transformation, including the impact of its transformation strategy on its customer experience, its operational setup, and its organizational transformation. Here are three key insights:

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The Age of Alt: Data Commercialization Brings Alternative Data To Market

Jennifer Belissent

We all want to know something others don’t know. People have long sought “local knowledge,” “the inside scoop” or “a heads up” – the restaurant not in the guidebook, the real version of the story, or some advanced warning. What they really want is an advantage over common knowledge – and the unique information source that delivers it. They’re looking for alternative data – or “alt-data.”

From the information age where everyone took advantage of easy access to information, we are now entering an age where everyone seeks alternatives: new sources of information and innovative ways of deriving unique insights.  This is the “Age of Alt.”

We know that business leaders want to better leverage data and analytics in their decision-making. But more importantly most decision-makers want to supplement their own data with external data; 81% tell us they want to expand their ability to source new external data.  Demand for data is exploding.

With everyone now chasing data, the challenge is to find something new and different – finding the “alt data.”

Fortunately, the supply of data is booming as well. Forrester’s hot-off-the-press 2017 Data and Analytics survey reports a huge jump in companies taking their data to market:

48% are commercializing their data – and that’s up from 32% last year.

These new data sources out there represent an enormous opportunity to find that information advantage.

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Start Silo-Busting: Strengthen Your Relationship With Compliance

Erna Alfred Liousas

What comes to mind when you hear the word “compliance”? Do you shiver, sigh, break out into hives, or all three? Believe it or not, your compliance colleagues are crucial to your social marketing success. This is especially true for marketers in regulated spaces such as financial services, healthcare, and pharmaceuticals. I can share from personal experience that my social marketing success at American Express was in part due to the relationships I fostered with compliance, legal, and even outside legal counsel — in fact, I’m still in touch with those former colleagues. Given the importance of breaking down the marketing compliance silo, I partnered with my colleague Nick Hayes on a new report, Bridge The Divide Between Social Marketing And Compliance. And though the intention of this report is to help marketers in regulated industries, Nick and I both agree that all marketers can benefit from it. 

Below are three takeaways to help you elevate your relationship with compliance:

  • Don’t make procrastination an option. Yes, it’s true, most healthcare or pharma social media-related regulations aren’t consistently updated. But that doesn’t mean you can or should procrastinate about initiating a conversation with compliance. Your social marketing success rests upon a few factors, including your relationship with your compliance colleagues.
  • Create structure around your approach. Our “research, align, implement, and optimize” approach is a repeatable process that can jump-start your compliance conversation (see below). This will eventually help you establish a solid relationship and, ultimately, trust with your stakeholders. In addition, you’ll have a clearer understanding of their perspective on social.
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Amazon Prime Wardrobe Won’t Will Kill Subscription Boxes: Bad Strategies Will

Lily Varon

Retail subscription boxes have a churn problem – that’s the bottom line. For non-essential categories, once the novelty wears off, consumers leave. We're seeing subscription box companies burn through their addressable markets. If there's a death knell for today’s subscription box companies, it's not Amazon’s new Prime Wardrobe offering, it's that many of them have been short-sighted. They have no game plan to maintain their value proposition after the novelty of their initial product or service wears off. 

Here’s what subscription box retailers, or retailers considering a subscription box model, should take away from Amazon’s Prime Wardrobe announcement:

  • Amazon continues to build out the value they give to Prime members. Amazon isn’t letting Prime members become desensitized to the value of their subscription.This service isn’t innovation per se  rather, it’s a value-add for existing subscribers for no additional cost. Amazon is a building out the value of a Prime membership for its members. 
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Navigate Forrester’s Insights Services Research

Jennifer Belissent

Early last year, Forrester defined a new player in data and analytics services, the insights service provider.  Over the past 18 months, our research has produced a number of reports defining the category, digging into specific industry and functional or domain specialists, identifying what really makes a true insights provider stand out (hint, it’s decision support) and addressing questions that companies have about how best to select and engage these new service providers.

Our research has also explored the business opportunity that insights services delivery offers, for data originators and aggregators, for software providers, and for manufacturers of connected products.

The following list provides a table of contents for the research – a cheat sheet for Forrester’s research on insights services.

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Two Reports To Get Search Marketers Closer To The Summit

Collin Colburn

Co-authored with Christian Splaine, Research Associate on Forrester's B2C Marketing Team

Earlier in the year, we came out with our State Of Search Marketing, 2017 report. The takeaway? Search marketing is only getting more complex and harder to navigate. And so far that has played out to be true. In fact, we here at Forrester have received an increasing number of questions this year on how to traverse the tricky terrain that is search. So, we have donned our mountaineering hats and written two new reports aiming to help search marketers navigate to the top of the search marketing summit.

The first report maps out the current relationship (or lack thereof) between search and social. Inadvertently, search marketers have become isolated from social intelligence insights that the rest of their enterprises are benefitting from. The benefits of connecting social listening data with search can range from better keyword targeting to improved campaign timing. The key to using search and social insights in tadem is collaboration between the two teams, which marketers can foster by:

·         Analyzing search and social insights together. For those marketers that are reliant on agencies, understand that they have both a search and social practice as part of their offerings. Ensure that their search and social teams are working together and sharing insights, so that you can reap the rewards.

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Simplicity is a strategy that works.

Chase Cunningham

This last week I was fortunate enough to be invited out to Hollywood to participate in a large exercise for the entertainment industry focusing on cyber security planning and threat management.  There were folks in attendance from a variety of organizations, all of which were very interested in just how exposed they might be to data theft.  The resounding call from nearly every executive that I talked to during this event was that they were aware of how exposed they likely were, and that they were extremely worried about who would be next to have their movie or tv show leaked to the public. 

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Two Ways That Customer Service Organizations Use To Build Emotional Connections

Kate Leggett

Today customers use self-service for straightforward interactions, leaving complex issues like account closure or claims disputes for a phone conversation. These questions often take longer to resolve and are opportunities to build positive customer relationships.

Customer service organizations must look out for customers' best interests and support their emotional state. Take the example of Delta Air Lines and how the airline supports customers when they receive notice about a cancelled flight. Its IVR system can tell when the caller ID field matches a mobile phone that recently received a cancellation notice via text message. It skips the standard menu in favor of one context-aware question: "Are you calling about the text message we just sent you? - saving the customer valuable time, and making him or her feel like the airline has their best interests in mind.

How are companies making better emotional connections via customer service?  First, field service is becoming more important to nurture customer relationships. These interactions are by far the most personal channel for customer engagement, and they can make or break a relationship. Modern field service technologies empower customers to control the service experience by engaging with a tech on their timetable and their terms. They can also fuel differentiated customer experiences by equipping the technician with the right customer information, parts, and knowledge to get the job done in one visit. We foresee industries outside of the traditional ones – like insurance, field health workers, contractors - adopting these technologies for their value in providing differentiated experiences.

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Telefónica Digitizes Its Operations In Service Of The Customer

Dan Bieler

With Fred Giron

Like many organizations, Telefónica is going through a digital transformation. Our new case study “Telefónica Digitizes Its Operations In Service Of The Customer” investigates the approach that Telefónica has taken to prepare for digital transformation, including the impact of its transformation strategy on its customer experience, its operational setup, and its organizational transformation. Here are three key insights:

  • Collaboration between IT and business on customer journeys results in a qualitative dialogue. Telefónica’s CIO office no longer has a technology discussion with business leaders. Instead, they have a debate about business outcomes.
  • “Doing” matters more than “talking” about digital transformation. Telefónica’s CIO office has not tried to sound smart about digital transformation. It does not talk a lot about cultural transformation. Telefónica’s CIO office wants the culture change to be visible rather than intellectual.
  • Cultural issues are becoming more important as the digital transformation evolves. Telefónica has communicated, in detail, the need for and the approach to digital transformation to local operations as well as to all the channels to get business buy-in.
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