You Have A Mobile Banking Strategy: Now What? (Discussion Of The Obstacles To Mobile Banking Execution Success)

Peter Wannemacher

For digital teams at banks and credit unions, building a mobile strategy to win, serve, and retain customers is a major undertaking. But even after executive leaders approve a mobile strategy — after the congratulations, confetti, and champagne fade away — digital teams at banks face the challenge of executing on that strategy. The latest chapter in Forrester's Mobile Banking Strategy Playbook outlines how digital business leaders at banks can meet customer needs and business objectives with a mobile banking road map

Our report lays out many commonly-encountered obstacles to mobile banking execution success and how digital teams can overcome these obstacles. Here are a few of the areas the report looks at:

  • Overly ambiguous — or nonexistent — business goals. Clearly articulated business goals should be part of a bank's mobile strategy. But a successful road map also lays out the business objectives and records specific goals for each initiative. As one eBusiness executive at a bank told us, "We literally have a section we call 'What's in it for us?' and we use sticky notes to write out what we think we can gain from each action."
  • Legacy systems and back-end integration. Technology may well be the largest obstacle to executing a mobile banking strategy — especially for larger, traditional banks. As such, successful mobile road maps need to outline how initiatives will plug into existing or soon-to-come platforms and systems.
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Q&A With Jeannine Rossignol, Vice President, Marketing Services, Xerox

Melissa Parrish

Marketers have paid lip service to customer-centric marketing for a long time. But consumers and business buyers have flipped the conversation from "Oh, they think they know me" to "They better know me, or I'll find someone who does." For brands to be truly competitive in the Age of the Customer, companies must become customer obsessed – or risk losing market share to the competition. 

At Forrester’s Forum For Marketing Leaders next week, Forrester analysts and industry speakers will address why marketers must go 'beyond the campaign', to deliver real-time customer value. We'll hear from Jeannine Rossignol, Vice President of Marketing Services at Xerox, who will discuss Xerox’s Get Optimistic initiative. Designed to engage buyers by talking about what they care about (hint: it’s not your brand!), the initiative feeds self-interest with highly relevant, customer-centric content.

In the run-up to Forum, I posed a few questions to Jeannine. Here's a sneak peak of what's to come next week.

Q: B2B marketers aren't typically known for being customer-centric. What was the biggest barrier you faced as you attempted to pivot?

Barriers are just opportunities in disguise (I am an optimist, after all). How you view them can make all the difference in whether you can overcome them or not. Businesses today face unprecedented choice on a daily basis – and to stand out among their options, we can’t just say we’re customer-centric; we have to make them believe it. And for most of us that requires a complete mindset change.

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I Created A Message Framework On The Way To The Sales Enablement Forum

Peter O'Neill

Peter O'Neill here, now back in my home office after our successful  Sales Enablement Forum in Scottsdale, Arizona.  First, I must be totally honest with you, and selfish, my absolute highlight at the event was the day before when eight clients played golf with us on the famous TPC Stadium Course, which was where our event hotel was situated.

But the event itself was also quite spectacular for me.  I led a breakout track where we focused on how to create the right message for the target buyers you have in mind with your marketing and sales efforts. I had a great keynote speaker in Eduardo Conrado, from Motorola Solutions and I had my illustrious analyst-colleagues Laura Ramos and Sheryl Pattek as further guest speakers in the track to present other best practice examples.

Laura and Sheryl had also helped me to prepare for my own presentation which revolved around proposing a Message Framework and was based on the following agenda:

Ø  Buyer Expectations Are Different In The Age Of The Customer 

Ø  You Need One Consistent Message In Marketing Content And Sales Conversations

Ø  Your Message Must Stick In All The Right Places At The Right Times

Ø  So Pour The Message Into A Content Portfolio

Ø  Use Forrester’s Message Framework To Tune Or Rebuild Your Portfolio.

 

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3D Printing Trends 2014

Michael Yamnitsky
Now that the media hype of 2013 has settled . . . somewhat, 2014 will be a pivotal year in which we see small, tangible steps towards reality. Below are a few trends and commentary on what we’re seeing in the market:
 
1. Ecosystem components begin to marry. Investments, acquisitions, partnerships, and new developments will focus around unifying printers, software, and services for seamless 3D printing experiences. For example, Adobe recently announced direct integration with MakerBot and Shapeways to close the gap between 3D modeling tools and what printers need to physically produce objects. Other major software vendors like Autodesk will play an evangelist role in bringing ecosystem players together to enable interoperability across proprietary platforms. 
 
2. New startups stretch our imaginations of business model disruption. 3D printing is a catalyst for rethinking inefficient analog processes. Startup SOLS aims to disrupt the entire orthotics value chain with an end-to-end digital service for custom shoe insoles. Customers scan a 3D model of their feet, input data on weight, lifestyle, and activity patterns, and send to print.
 
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Get Application Optimization Right in the Cloud Era

James Staten

There’s a new and refreshing trend in my conversations with CIOs and IT leaders — acknowledgement that cloud services are here to stay and a desire to proactively start taking advantage. But to get this right takes the right approach to application portfolio optimization. And we’ve just released a new version of our Strategic Rightsourcing tool that helps you do just that.

The decision to proactive embrace cloud services is quickly followed by two questions:

  • How to prepare my IT organization to be cloud-forward?
  • What apps to move to the cloud?
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Highlights, Day 1, ANA Media Leadership Conference

Jim Nail

This year, the Association of National Advertisers is focusing on some really big issues facing the media business. ANA President Bob Liodice's keynote framed them:

  • Measurement: Better measurement can help marketers make better decisions, and it is time for the industry to convene a central body to guide the measurement discussion.
  • Piracy, fraud, and viewability: These issues have led to the erosion of the value of digital media. Marketers, agencies, and publishers must take notice and address these problems.
  • Media transparency: ANA members have told the organization of their concerns about agency trading desks, rebates from media companies to agencies, and programmatic buying. The question is: are agencies and media companies hiding information from marketers, or is this just representative of the new media environment we are living in?
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Framing The Discussion On Cloud Visibility And Encryption

Michael Yamnitsky

According to recent Business Technographics data, half of US enterprise technology management professionals report that there is 1.) no way to gain a single view of status and availability across their portfolio of cloud services, 2.) that they don’t have a clear way to assess the risk of using a third-party public as-a-service offering, and/or 3.) that they have no way to manage how providers handle their data. 

An interesting debate is ensuing regarding how to best protect cloud data, given the market landscape. So far two modalities are emerging: 

·A.  Inserting in-line encryption between the enterprise and the SaaS provider that encrypts and/or tokenizes all data before it goes to the cloud to ensure safety interoperating within public cloud systems. 

·B. The human-firewall model, in which IT closely monitors activity with context/content analytics and anomaly detection tools. 

The truth lies somewhere between the two. By carefully applying Forrester’s data security and control framework, clients should incrementally encrypt data deemed sensitive to compliance or regulation, such as credit card and Social Security numbers, and closely monitor all activity across users and cloud applications. 

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FT Digital Media: Anguish Over Products

Ryan Skinner

Two ways media’s changing now, and two ways it’s going to change:

The FT Digital event in London last week pulled together some of the cream of the European media world. The big conclusion they were made privy to?

The media world will soon discover exactly how many ways you can skin a cat.

The old-fashioned way for media brands to skin a cat – make the content and license rights to distribute it, or advertise next to it – doesn’t work anymore as a standalone product. As a result, the business model experimentation we’ve seen so far in the media world is turning into business model explosion. Evidence: Half of the speakers and attendees at this media event wouldn’t have been at a media event at all only three or four years ago. Facebook. Shazam. BuzzFeed. And tech VCs, for example.

Two pieces of news exemplified changes taking place right now:
One, Facebook’s acquisition of Oculus (a virtual reality gaming device) forced discussion toward the value of a platform – the device is only as valuable as the community of developers creating remarkable content for it; tech and media companies alike need to take a platform approach to their assets.

Second, The New York Times’ launching of NYT Now – a premium version of the Times exclusively for smartphones – showed how media companies are bending themselves backward to divorce (call it “conscious uncoupling” if you will) resources from revenue. The mobile app will take a Facebook-like approach to making money by allowing advertisers to publish sponsored content in-feed.

And two discussions painted a picture of media’s future:

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Announcing Forrester’s Inaugural Software Product Development Services Wave

Charles Green

We live in a time of digital disruption.

The next generation of product development will require wholesale change to the types of skills companies need. As my colleague James Staten recently wrote, an earthquake in Silicon Valley is turning every company into a software vendor. It is this notion, that every company becomes an ISV, that will profoundly change the nature of business, and in particular product development:
 
  • Software, and customers interaction with that software, now defines companies and their brands.
  • Developing software-enabled products requires sophisticated technology and architectural design skills. This presents tremendous challenges — even more so for companies for whom technology is not in their DNA.
  • Companies must look in the mirror and evaluate if they currently have the skills and expertise to navigate this new environment. In this new world where customers interact with you through software, do you have the skills to develop products and services which will create intense and enjoyable customer experiences?
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Take Your eCommerce Business Global With Our New Playbook

Zia Daniell Wigder

eCommerce revenues are soaring around the globe. This year, the US, Western Europe, and China alone will generate over $800 billion in online retail sales. Growth rates, too, remain staggering in many countries: China’s massive online retail market will more than double between 2013 and 2018, as will Brazil’s. India’s much smaller market will grow by eight-fold during this timeframe.

However, a litany of businesses have failed as they attempted to tap into shoppers outside of their home markets, with many large US and European brands factoring prominently on the list of casualties. eCommerce is no exception: Numerous eCommerce businesses have taken the plunge into new markets, only to find their offerings didn’t resonate with local consumers or they were outsmarted by much savvier local rivals.

What separates successful global eCommerce businesses from their counterparts? Which tactics have proven particularly effective for brands aiming to extend their reach into new markets? What are some of the most common challenges businesses tend to encounter? Our newly published eCommerce globalization playbook helps brands through the thorny process of global expansion. Clients can read our playbook for insights on how to:

Discover and quantify international revenue opportunities. Our playbook includes reports outlining the global opportunity and identifying how eCommerce markets typically develop with time. Our online retail forecasts for the US and Canada, Western Europe, Asia Pacific, and Latin America provide a quantitative look at market sizes and eCommerce trends in these regions.

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