During the session, we recapped the highlights—and lowlights—of privacy in 2014, discussed some of the major trends and issues in the space, and made some predictions for 2015 and beyond.
What stood out for me, as a customer insights (CI) professional, is how critical our teams are to the work of privacy and how much we must guide the process of contextual privacy. There is a lot of work to be done to build stronger organization-wide consensus around better privacy. Like they were the nexus point between business technology and marketing teams, CI pros are now the nexus between security, legal, and marketing teams.
I’ve linked the full session below. Please enjoy, and please consider getting involved in Data Privacy Day 2016 - the effort could use more marketers and business leaders.
Have you seen the movie Birdman — the one that just won the Best Picture and Best Director Oscars? It’s about a middle-aged man who was once a popular movie star but has been criticized throughout his career and how he finally achieved a breakthrough performance and found great success in a Broadway production of the play What We Talk About When We Talk About Love.
The story of Microsoft Azure is similar. Microsoft was hugely popular in the age of the PC but has sailed into troubled waters in the cloud era. But now — a year after Azure’s commercial launch in China — CIOs and EA professionals must understand how and where Azure might impact their existing MSFT technology investments to achieve business transformation. Azure is one of the leading forces driving cloud adoption in China. We attribute this to the progress that Microsoft has made by:
Expanding product offerings.Microsoft Azure now has local products in four key categories: compute, network, data, and application. Beyond basic components like virtual machines, websites, storage, and content delivery networks, Azure also has advanced features that are important for Chinese customers to address their unique challenges, including mobile services for the rapid development of mobile apps to accommodate the massive shift to mobile; a service bus for integration to eliminate information silos in the cloud; and HDInsight for big data capabilities to gain the customer insights necessary to compete with digital disruption from local Internet companies.
This latest Lexmark move is harder to assess than previous major acquisitions. Give the Perceptive acquisition an A, Brainware a B -, and Pallas maybe a C+. The Kofax merger, on the other hand, has two legitimate views and lets start with the positive. Kofax has indeed assembled a range of complimentary components that fit well with Lexmark's market ambition. The key asset of interest is the TotalAgility (KTA) platform and its related components. These enhance Lexmark's process platform that was based on the Pallas, too low a market share and Perceptive’s document-focused workflow. KTA, by contrast, has a true case platform and is well integrated with the industry-leading capture platform. Kofax has never had been in the ECM space. They are now with one of the strongest. And the list goes on. Brainware will boost forms processing for Kofax' invoice processing customers. The AltoSoft BI tool adds analytics strength that Lexmark did not have. Data integration is improved with Kapow. A top E-Signature product (Softpro) and a growing CCM platform from AiA are all good pickups. These last two fit well with Lexmark’s transitioning MPS business.
The drawback here is that Kofax’s go to market positioning and execution is nowhere near complete, and needs entrepreneurial energy and execution to get there. Perhaps Lexmark can help - but Kofax will now be part of a larger company that has transition issues of its own. Perhaps more importantly, Lexmark may find itself devoting significant investment dollars to purchase a legacy document capture business that has moderate long term value. We estimate around $200m of Kofax’ current business derives from this market with revenue in this area more likely to decline then accelerate. Lexmark would then find itself devoting a lot of management attention to minimizing the impact of that decline.
This month’s S&R Analyst Spotlight Podcast features a slight change to our usual program: we have a guest host! Chris McClean, our San Francisco-based Research Director, interviewed the newest addition to our analyst team, Merritt Maxim. Merritt’s coverage areas include identity and access management, access governance, federation, authentication, and role design and management. In our podcast, Maxim tells us about his career before Forrester, his planned coverage area and his current must-read book on security.
These Analyst Spotlights are all included in S&R’s First Look newsletters. Email email@example.com to be added to the list!
To download the mp3 version of the podcast, click here.
Samsung launched its business offerings at CeBIT 2015. Samsung Business is a new brand and combines Samsung’s Knox for security and enterprise mobility management, Smart Signage, and printing. Samsung Business offers industry-specific solutions for retail, education, hospitality, transportation, healthcare, and financial services.
In retail, Samsung offers digital mirror and video wall devices. School Solution integrates its mobile devices with interactive learning tools. Its Smart Hotel Solution offers premium in-room experience and information bulletin touchscreens. The Preventive Mobile Cardiac Rehabilitation solution enables real-time monitoring of chronic conditions. For financial services, Samsung provides secure document handling and printing services. And its transportation solution provides real-time information and analysis of data. My main takeaways:
Samsung Business is a good first step toward catering to businesses. Samsung has enormous potential to leverage its existing consumer device expertise and experiences, especially in the B2B2C space. Samsung is right to opt for an open and collaborative Internet of Things (IoT) ecosystem to overcome the challenges of platform compatibility, data analysis, and security. Samsung has a long track record in focusing on user experience. This should help it deliver high-quality and intuitive-to-use business solutions.
Samsung’s sector solutions are still rather basic. At this stage, Samsung is right to focus on a handful of offerings that it is familiar with and can deliver with high quality. However, Samsung will need to drill down deeper into business processes and business models to become successful in the emerging world of IoT longer term.
Today, I continue my introduction to the new analysts (from April 1st) in our group providing research and advisory for B2B Marketing professionals, including sales enablement. In addition to Laura Ramos, whom I introduced last week, we are also being joined by experienced Forrester analysts Kim Celestre and Lori Wizdo.
So, as an introduction to Kim’s work, let me point you to a recent report: Executive Q&A: How Online Communities Help You Achieve A Social Depth Objective, which is currently on the Marketing Leadership pages on this website. This report discusses the benefits of creating and maintaining online communities, a marketing tactic still undervalued by marketing leaders. As Kim points out, you can better influence how your customers explore your offerings and help move them to a purchase decision by tapping into the content and interactions generated by online communities. She explains about social reach and depth and cites the EMC Community Network online community as a powerful B2B marketing best practice. Through 2015, Kim will also be researching and publishing on the topic of social selling.
Economic development means different things to different people. It depends on their context. In my early work as a Peace Corps volunteer in Africa development meant bringing running water to villages. My town was the new recipient of a public water system from the Danish Aid Agency.
But broadly speaking, economic development initiatives are efforts to attract investment to a region. For most places, it’s not about running water but about creating jobs. And, some of the best jobs out there – in demand and high paying – are in technology or in software development more specifically. Software is the future. And, many cities, states and countries want to get in on the act. Yes, many of the software development jobs will go to product development shops but they need to hire from somewhere and government leadersare hoping to bring those jobs to their constituents.
A classic strategy for attracting investment to a region is to provide tax incentives. We’ll give you a break on your corporate taxes for a period of time if you bring your new headquarters or factory or research facility to our region. A quick search reveals many such programs. Apparently Texas is “wide open for business” and is willing to provide tax abatements and local incentives.
American and Canadian insurers are facing some big challenges in 2015. Customer experience expectations, their willingness to consider a growing array of new options to buy insurance, and new competitors creeping into the business of insurance are pushing traditional insurers into new digital strategies. It’s no longer a question of digital channels or “other” when it comes to the customer journey; they’re now intertwined. Digital-dependent customers are eyeing new and more digitally savvy market entrants, while demanding more control over the experience and how their personal information is used. This year, digital insurance teams are crafting agendas that satisfy their firm’s hunger for increase market share and revenue balanced with changing demographics, adaptations in response to extreme weather, and regulation that has lagged the changing realities of digital. One thing’s for sure: Insurance eBusiness teams can’t afford to wait around, but they also can’t afford to make the wrong digital decisions.
Just what are the factors propelling North American insurer agendas this year? For starters, it’s about:
Uneven economic growth in North America. The 2008 financial crisis? It’s a distant memory in much of the US, but not for all. By most measures, the US economy is thriving, driven by rising consumer demand for homes, cars, and consumer goods, and, by extension, insurance. And in oil-producing Canada the decline in gasoline prices isn’t good news: Canada is threatened with recession.
Forrester’s retail forecasts chart how the changing nature of consumer behavior will have an impact on online and offline retail sales over the next five years. During a recent webinar, Forrester detailed five key trends that the forecasts have revealed:
Worldwide online retail sales are growing and varied. Asia Pacific is the world’s largest online market; it’s more than twice the size of North America. But online retail in India and China is very different. When considering your online investments, you must take into account not just retail market size but also supply (like organized retail), consumer demand, and infrastructure maturity.
Online buyers are spending more and in more categories. In mature markets like the US, online growth is coming from existing buyers spending more online. The typical online buyer has doubled the number of categories from which they buy online over the past five years.
Web-influenced sales are greater than online sales. In Western Europe, the Web will influence 45% of offline sales by 2020. Although 93% of retail sales in Western Europe were offline in 2014, an online presence is critical to retailer success — as web-influenced sales were more than three times larger than online sales.
I’m not alone. Creating a superior and differentiated customer experience is a core strategy for most companies — a pillar of who you want to be. It’s likely in your mission statement, annual report, 10-K, strategy deck, or company culture declaration. In a Forrester survey, “improving the customer experience” was tied with “growing revenue” as the No. 1 business priority over the coming year. Great CX is the big ambition in the sky.
For many, it remains an ambition.
The feedback I get from executives is consistent with my own thinking and Forrester’s body of research in this area. CX can’t be an attitude, tagline, or one-time corporate initiative. It has to be a different way of doing business, a new kind of operating model.
That means addressing the complex areas like people, process, and culture.
At Forrester, I keep returning to the basics to help us take simple but important steps forward. Here are five observations from the frontlines:
Change your perspective. We have a sense of how customers are supposed to traverse different touchpoints and a sense of the experiences we want them to have. But that’s not the starting point. CX is about the customers, on their terms and in their voice. Sounds basic, but that fundamental reorientation requires a surprising level of tenacity and discipline.