I'm moving into covering the greater CRM space, yet still retaining a deep focus on customer service technologies. Now-retired analyst extraordinaire, William Band and I put together our top trends for CRM in 2014. These trends are all about leveraging strategies and technologies for better understanding, connecting with, serving, and delighting customers. You can access the full CRM Trends Report for 2014 here.
Trend 2: Enterprises Will Embrace Tools That Create An Outside-In Perspective. To make meaningful improvements, organizations must align their customer experience ecosystems. That requires understanding customers' deep needs, viewing interactions from the customer's perspective, and socializing customer insights - and organizations will embark on this journey in 2014.
Every year, Forrester collects examples of outstanding social marketing efforts, focused on companies which have seen measurable results of their initiatives at each phase of the customer life cycle. Our submission window for the 2014 entries closes February 28th, and I look forward to seeing your submission.
To learn about the contest and see how to submit, check out:
Communicate the importance of customer-centricity. Effective communications programs share updates with employees about initiatives to reinforce customer focus and highlight the importance of customer experience to the organization. As part of their customer-centric communication programs, companies should connect senior leaders with frontline employees and ensure that all corporate communications reinforce customer focus.
Companies like Avis Budget Group and E-Trade focus on changing the tone and content of all corporate communications.
General Motors (GM) assigned leaders the task of explaining the new customer focus to their respective departments. Involving senior leaders in this way reinforced to all employees that customer centricity was now an organizational imperative.
At the intersection of technology, mobility, and consumer centricity, the automotive industry is kicking into gear. From the International Consumer Electronics Show highlights early this year to commercials aired during the nightly Winter Olympics coverage this week, it’s hard to miss the news and promotions around increasingly sophisticated in-car technologies. Vehicles are:
Evolving as channels for media consumption. Last month, Pandora announced that it would begin monetizing its in-car audience by integrating ads into its in-car stream tailored to consumers en route.
Becoming an extension of your network of connected devices. Google’s latest partnership with Audi, GM, Honda, and Hyundai promises to put Android OS-synched cars on the road this year.
Emerging as self-regulating “smart” devices in their own right. BMW’s recently launched “i” series boasts a navigation function that identifies the most energy-efficient route according to range and environment, along with other technology that improves vehicle performance and safety.
It’s only crumbling, archaic companies that have to worry about digital disruption, right? Companies that cling to out-moded ways of operating, where out-of-touch, besuited executives languish in mahogany-paneled boardrooms pondering strategy over cigars and brandy.
Oh no. Digital disruption impacts every business and every company.
No matter how “born digital” you may think your firm is, there’s always room to get leaner, meaner and closer to your customers. Take this as an example.
You might think that Satya Nadella, recently appointed Chief Exec of software powerhouse Microsoft, has nothing to worry about. While Microsoft wasn’t strictly “born digital”, it isn’t far off. It boasts an impressive array of digital services in its suite of products – Hotmail, Xbox Live and MSN to name just a few. But Nadella is only too aware that what’s made Microsoft successful in the past will not continue to differentiate it in this uncertain future.
In a recent New York Times interview Nadella was asked about how he wanted to change the culture of Microsoft. He succinctly sums up exactly why every firm must become a digital business:
What’s happening (that’s important) in the world of content marketing? This is your fortnightly round-up of the best of the best stuff online for marketers who think about content; for the previous “Fortnights”, go to the bottom of the post. (And for more information about what the Content Marketing Fortnight is, see my intro from the first one. Get this curated newsletter in your inbox every other week – send me a mail.)
Why are sales and marketing professionals working harder and longer than ever before? Why are they seemingly in a constant firefighting mode, moving from one fire drill to the next, one meeting to another?
We are in the middle of a major transformation in the B2B sales model. Your company is caught between a rock and a hard place because your investors want to see accelerated growth and improved margins. However, your customers have the same pressures, and all have some form of enterprisewide strategic procurement initiatives underway. Your goal: sell at a higher price. Their goal: buy only what they need at the lowest possible price. Something has to give.
In response to these tectonic forces, we find many companies have a variety of internal projects designed to combat the commoditization trend. Some common efforts include:
Training salespeople to get access to executives.
Creating "solution selling kits" (in marketing).
Developing return-on-investment tools.
Focusing on demand-generation campaigns.
Developing sales-coaching frameworks.
Creating more structured opportunity identification and account scorecards.
Fine-tuning the customer relationship management (CRM) system to improve reporting and forecasting processes.
Pricing and packaging exercises and corresponding negotiation training.
Reinventing product marketing functions into "solution" marketing roles.
Improving the customer experience is the path to achieving business results. In these challenging times, there’s nothing more critical for marketing and strategy professionals to pursue than the customer experience. At our Summit in Shanghai next month, we’re eager to discuss the theme of “Driving Digital Customer Experiences In A Slowing Chinese Economy”..I’m proud to announce the illustrious list of speakers we have pulled together for this year’s summit:
Kicking off the agenda for the day, Harley Manning will speak on customer experience innovation and sizing disciplines that companies need to consider Harley is the co-author of Outside In, Forrester’s book about the customer experience that draws upon 14 years of research. At the summit, Harley will also officially launch the Chinese version of Outside In in conjunction with our publishing partner CITIC Press, a leading business and financial publishing house in China.
China is forecast to become the largest eCommerce market in the world. Zia Daniell Wigder, Vice President and Research Director at Forrester, will address China’s market potential and speak about “Creating Customer-Centric eBusiness Experiences.” Her session will explore opportunities to build successful sales and service ecosystems in China, including what the age of the customer means for Chinese eBusiness customers, and explain how digital tactics are essential to creating customer-centric eBusiness experiences.
I'm glad to see more quantification of online ads' impact for branding. But I lament that this kind of story is still headline-worthy. Why is it still so surprising that online advertising is effective and helps sell products?
After all, I wrote about the first Cross Media Optimization Study (XMOS) that documented the brand impact of the lowly banner ad for Dove Nutrium . . . when was that . . . must have been about 2001. And scores more of these studies have come out since. In my research with marketing mix modeling vendors, I hear that digital is readily quantified and has an important role in the mix.
So can we get beyond nonsensical biases about "banner blindness" and acknowledge the reality that ads don't have to be a Cannes-winning video extravaganza to get the message across?
While the basic technology behind 3D printing has been around for decades, recent hype and coverage has recast a spotlight on the industry. Over the last few years, incumbent and emerging vendors have been rapidly developing 3D printers, each more productive than the last, with an ever expanding variety of printable materials and possible use cases.
Outside of consumer hobbyists, 3D printing will have the greatest impact on businesses that design and manufacture discrete products, introducing rapid prototyping to speed up development cycles and an alternative production method for customized finished objects.
What does this mean for CIOs and technology management departments?
As the resident technology expert, you may be called upon to evaluate the hardware and feasibility of 3D printing for your business. Beyond assessment, businesses may demand:
Technology support and management. If your business decides to incorporate 3D printers, as a new networked device, support could entail adapting and integrating the 3D printing ecosystem into current product lifecycle management platforms and processes, not to mention troubleshooting hardware and software issues.