Not long ago, Forrester published a report that listed “Eleven Mobile Features That More Banks Should Offer.” These features are nifty and valuable mobile services that a majority of banks worldwide don’t offer. As a follow-up to this research, we thought that we’d share three additional mobile banking features that we see more companies rolling outin the near future:
Cardless ATM transactions. Over the next five years, Forrester predicts a sharp rise in cross-channel banking interactions - in which a customer or prospect moves from one touchpoint to another to complete an objective. Mobile will act as the so-called “connective tissue” in many of these cross-channel journeys. For example, some banks* now support mobile-to-ATM cardless cash withdrawals. In general, the bank’s mobile app generates a code that customers can either use to enable ATM usage or send to others who can then withdraw cash directly from an ATM. Leading banks are enabling cardless ATM transactions in an effort to expand their mobile services. Wells Fargo, for example, already has a good mobile app — and the company is now being proactive by rolling out cardless ATM access and other next-generation features. There are many scenarios and mobile moments where cardless ATM transactions will prove their worth in convenience and value to customers.
It came out of nowhere: A muffled, mechanical voice with electronica undertones called out “Hel-lo there.” It was leering down at me and a few other eTail West attendees: Over 7’6”, a fiberglass robot straight out of a Transformers movie with giant glowing blue eyes and dark mechanical fingers that looked as if they had 300 psi of hydraulic force – enough to crush a car.
Of course, this robot was a ContentSquare-emblazoned suit with a person inside, but the subsequent conversation was surreal. “Can I take a picture?” a fellow attendee blurted out. “Cer-tain-ly. Step ov-er here for a nice-ly lit shot,” in staccato English with the eerie, deep mechanical voice. The neurons in my head started firing.
Suppose this robot was real? The technology is mostly here. We have natural language processing, basic AI functionality, robotic prosthetics, centralized controllers. Now – how about if we gave it a bit more capability – perhaps even manage basic functions in a retail environment. How about pick and pack capabilities, identifying objects on store shelves and labeling processes. What about moving it to the front room and engaging with actual customers? I’m sure it could handle basic questions such as where to find my size 34 jeans or directions to the restroom. Add a camera or two and it becomes a surveillance device as well – mobile and dynamic for loss prevention and security. Maybe even a checkout with a torso based kiosk to scan items and a POS.
With the increasing significance of the online channel in retail, we need variables other than macroeconomic data or consumer market size to assess the readiness of a market for eCommerce. While there is no universal tool for selecting expansion opportunities, the Forrester Readiness Index (FRI) provides a holistic assessment of the eCommerce setting for each country.
Our recently publihsed Forrester Readiness Index For eCommerce, 2016 is a holistic assessment of the eCommerce setting to provide insights for global expansion needs. The eCommerce index signifies the level of opportunity in each of these countries over the next three to five years and measures the impact of technological and behavioral influences in conjunction with the revenue opportunity.
The FRI evaluates 25 quantitative variables in four areas — consumer, vendor, infrastructure, and online retail opportunities — in 55 countries across the globe. We selected each quantitative and qualitative indicator to measure the relative “readiness” of the platform in each country; these indicators reflect each country’s eCommerce environment and overall retail opportunity.
Today several users of Google Home -- Google's competitor to Amazon Echo with its Alexa intelligent agent -- reported that Google was inserting Beauty and the Beast movie promos into their conversations. Read The Verge's account of the details and see the tweet from user @brysonmeunier below:
It's surprising that Google is already testing this kind of interruption model for a couple of reasons. First, it's playing catch up to Amazon's much more mature intelligent speaker product and rocking the user boat with something so blatantly counter to the value of the category so soon feels foolhardy. That said, this will hardly cause a backlash so if it shows that Google is willing to test and refine its value proposition more rapidly than Amazon, that's not a terrible thing.
It’s no secret, company websites are a key implement in the B2B marketer’s toolbox. B2B marketers rate websites as the second most effective demand management tactic for building awareness (behind events) in our 2016 Business Technographics marketing survey. B2B companies also expect more than half of their customers to buy online within three years.[i] These trends show just how important it is for marketers to get the website experience right – and to produce Web content that builds empathy to engage buyers.
If you’ve been following my research, you know I like to divide the business world into three categories of company:
Digital Predators successfully use emerging digital technologies to gain market share and/or displace traditional incumbent companies (e.g., Amazon, Lyft, Priceline, Airbnb, Netflix).
Digital Transformers evolve a traditional business to take advantage of emerging technologies, creating new sources of value for customers and opening up new competitive strategies (e.g., Burberry, Nestlé, L’Oréal, Unilever, USAA, Ford, Delta).
Digital Dinosaurs struggle to leave behind their old business model. These companies are typically slow to change because they must defend large P&Ls, or they have a near monopoly position, or they simply don’t see the opportunity/threat (e.g., many retailers, taxi companies, manufacturing firms, legal firms, recruiters, construction firms).
From time to time, an anecdote comes across our desks that, as researchers, we find hard to leave alone. A few months ago, one of these opportunities appeared, and we thought it might be interesting to lift the hood, and show you how we dig into tough research hypotheses and decide if and when to write about them. Here's what happened.
Over a period of a few days this winter, we heard from one colleague, then another – 20 in all -- that conversations they'd had IRL ("in real life") seemingly resulted in ads and sponsored posts in Facebook. Given the state of "surveillance marketing," we weren't that surprised, until we read Facebook's T&Cs. There, the company explicitly stated that it wouldn't use data collected from a user's microphone for ad targeting. That's when we got curious.
First, we looked to the obvious: had our colleagues searched for the advertised item after having had the conversation? Had they checked into the same place as their friend, at the same time? Were they on the same network -- and thus sharing an IP address -- as someone who'd searched for the product or service? We rounded up the answers to these questions, and determined that "interest-by-proxy" was an unlikely cause.
Yesterday, Okta filed its S-1 with the SEC, officially marking its intent to go public. This planned IPO had been rumored in early 2016, but less than optimal capital market conditions in 2016 likely contributed to the delay. The S-1 followed last week’s news that Okta acquired Stormpath, an identity API provider based in Silicon Valley, for an undisclosed amount.
The filing is not surprising but opens a window into the financial dynamics of the identity-as-a-service (IDaaS) market. After reviewing the S-1, three main themes stand out for me:
IDaaS demand is very strong. Okta’s fiscal year ends on January 31, so full-year figures are not yet available for the period ending January 31, 2017. But comparing Okta’s revenue numbers for its 2015 fiscal year with its 2016 fiscal year shows an impressive 100% year-on-year growth. A big boost in service revenue also suggests that Okta is being deployed in larger, more complex environments that require more customization and services. Over the past 18 months, Forrester has had a steadily increasing number of IDaaS-related inquiries from enterprise clients looking to deliver identity and access management (IAM) capabilities to their employees via a SaaS subscription model. Okta’s revenue growth aligns with the strong growth in demand we see from our clients.
I want to know who you love. I'm asking because love for a brand is actually a very hard thing to measure. At Forrester we've spent nearly a year trying to understand the emotional components of branding. Our colleagues in the customer experience (CX) team have years worth of data showing that emotion is the single most powerful driver of satisfaction with an experience. Designing to emotion, then, is a crucial method for success and my colleagues are all over it.
On the brand side, marketers certainly agree that emotion matters. They have always believed that emotion matters. They just don't agree on how it matters. Or better said they don't have clarity on what emotion really is and so it becomes more difficult to pin down how that emotion applies to their brands -- is brand emotion different from CX-derived emotion? Do they relate to each other, act as influences on each other? It's hard to say for sure when your mental model of how emotion works is inadequate to the task of addressing the fast-moving emotions of today's empowered consumer.
Another Friday lesson on corporate-speak. Last week I shared how wrong it is to be "right?" and I hope you are secretly forwarding that note to every offender in your organization. Today, I'm here to save you from the equally egregious word "alignment." A seemingly simple word, one that baas like a gentle lamb on a hilly, green pasture. Except this lamb is sheep in the most despicable of wolves' clothing. To be aligned with something literally means to be arranged in a straight line. When someone invites you to be aligned with them, they think they are saying, "let's be on the same side," "let's have a shared perspective," or "let's not seem like we're in disagreement here." All of those meanings sound good -- we are teammates, we collaborate, we know how to work across silos! But none of them are what people really mean when, in an interdepartmental meeting someone says, "We need to make sure that we're in alignment on this."
What they truly mean is, "I've listened to you blather on long enough. You are wrong and I am right and you need to start pretending that you agree with me or we're going to have real problems here."