I became a LinkedIn member when it first arrived on the scene as an exclusive social network for business professionals. I recall all the buzz that was spreading throughout Silicon Valley about LinkedIn, and that one needed a special “invite” to become a member. Looking back, I remember how honored I felt to be “linkedin” by a fellow colleague — I was officially in the club! Over the years, I have watched the social network evolve into an effective recruitment platform (disclaimer: I got my analyst job thanks to a Forrester recruiter who found me on LinkedIn), then to a content publishing platform after it added Slideshare, a newsfeed and its popular influencer program.
Today, LinkedIn is attracting a plethora of B2B and B2C brands that are trying to build a presence in front of 300 million professionals. There are currently more than 3 million company pages on LinkedIn. All of this brand activity begs the question: What engagement rates are brands getting on LinkedIn? We looked at the top 50 global brands and their member interactions across a variety of social networks. We found that LinkedIn’s engagement rate was lower than other social networks that also have professional members:
Why does LinkedIn’s engagement rate lag behind the others? Members simply do not go to LinkedIn to interact with brands after they have purchased a brand’s product. Marketers understand this — only 5% use LinkedIn for a social relationship objective (e.g. drive customer loyalty, provide customer service).
No kidding. Isn't that marketing's job? To produce content? From advertising, to email, whitepapers, videos, blog posts, case studies, brochures . . . it's what marketing does, right? I'm surprised the result wasn't 100%. (I wonder what those 9% were doing instead?)
Hmm . . . sounds like a bad joke I used to tell about enterprise portals . . . except now it goes something like, "How is content marketing like teenage sex . . . ?" (You can look it up . . . )
American government is divided along liberal-conservative lines on just about everything. But the Supreme Court agreed that you can't search somebody's mobile phone without a warrant, and it wasn't a typical split decision -- it was unanimous. (The other big ruling today, on the controversial question of whether Aereo can sell you streaming access to your own TV channels, was 6 to 3 against Aereo).
Why? What is in your mobile phone?
Chief Justice John Roberts pointed out that they are "cameras, video players, Rolodexes, calendars, tape recorders, libraries, diaries, albums, televisions, maps, or newspapers." You might as well add alarm clocks, wallets, stethoscopes, and running coaches. There is literally nothing about you that your phone may not know at some point (your browsing history probably contains a lot of secrets you may want to hide from some people). If I had a choice, I'd rather have an invasive government search my house than my phone. (I wonder how many of them have phones under their robes.)
JetBlue built its brand on a new standard of in-flight customer experience when it launched in 1999. Guided by its brand North Star to “bring humanity back to air travel,” the fledgling airline offered beleaguered economy passengers better seats, better entertainment, better snacks, and an all-around better customer experience. JetBlue had the prescience to understand that customer experience is inextricably linked to brand experience.
Our TRUE brand compass research shows that JetBlue has established itself as a major airline brand with consumers but has not yet risen above the competitive pack. JetBlue ranks as a TRUE brand follower, alongside air transportation stalwarts like American Airlines and United Airlines. But will it rise to leader status? On the back of a couple of headline-grabbing passenger incidents, a recent USA Today article raised questions about whether this pioneer of a better airline customer experience has “Lost Its Heart.” For me, the question is not so much whether JetBlue has lost its heart but whether the brand has failed to keep pace with consumers’ rising expectations of brands. Does JetBlue still have the prescience to see what will build the airline brand of the future?
An IT mindset has dominated the way organizations view and manage their data. Even as issues of quality and consistency raise their ugly head, the solution has often been to turn to the tool and approach data governance in a project oriented manner. Sustainability has been a challenge, relegated often to IT managing and updating data management tools (MDM, data quality, metadata management, information lifecycle management, and security). Forrester research has shown that less than 15% of organizations have business lead data governance that is linked to business initiatives, objectives and outcomes. But, this is changing. More and more organizations are looking toward data governance as a strategic enterprise competence as they adopt a data driven culture.
This shift from project to strategic program requires more than basic workflow, collaboration, and data profiling capabilities to institutionalize data governance policies and rules. The conversation can't start with data management technology (MDM, data quality, information lifecycle management, security, and metadata management) that will apply the policies and rules. It has to begin with what is the organization trying to achieve with their data; this is a strategy discussion and process. The implication - governing data requires a rethink of your operating model. New roles, responsibilities, and processes emerge.
Only 20% of European customers trust their bank to treat them fairly and honestly, but with a lack credible banking alternatives it doesn't actually seem to matter. As most customers see it, they can either have a bank account, or they can not have a bank account. Account switching legislation in the UK perpetuates the problem, Henry Ford style: “you can have an account with any provider you want, sir…..as long as it’s a bank”. Our new report, “Disrupting Finance: Digital Money Managers”, profiles a series of disruptors offering your customers a third way. Here’s why we think you should be worried:
1. They offer aggregation. Digital money managers offer aggregation because they have to, of course, but in doing so they enable users to manage their finances independently of the firms they don’t trust. Users can pick and choose products from different providers then manage everything in one place - a sort of iTunes for financial services. There's clear disruptive potential here, particularly if an already proven price comparison site acquires a promising digital money manager, as we've already seen in the UK with MoneySuperMarket’s acquisition of OnTrees.
I was invited to speak at the Big Data and Business Analytics Forum in Hong Kong last week, and introduced our latest research on big data in Asia Pacific for both marketing and technology management professionals in the age of the customer. Listening to other speakers at the event who discussed Hadoop and explained the 4Vs of big data — volume, velocity, variety, and value — it dawned on me that there may be a significant gap in big data development between mainland China and Hong Kong. While Hong Kong is perceived as more technologically advanced, these terms were already buzzwords on the mainland 18 months ago. There are several constraints could have hindered big data adoption in Hong Kong:
Demographic limitations. With a total population of 7 million, Hong Kong doesn’t generate data volumes as gigantic as mainland China’s. This raises the unit cost of big data for Hong Kong businesses.
Budget to invest in new technologies. Hong Kong businesses are still struggling to recover from the 2008 financial crisis and maintain hiring freezes. It’s difficult for tech management to convince business leaders to invest over HK$1 million in a big data project and hire data scientists.
There are few local practices in unstructured data like social, location, and mobile. Hong Kong is open to global social platforms like Facebook or Twitter, meaning that multinationals can use global big data solutions to cover social in Hong Kong and keeping local adoption of big data technology for SoLoMo low.
It’s no secret that UK banks were slow to take mobile banking seriously. The iPhone launched in 2007, and it wasn’t until 2010 that we had the first mobile banking app from NatWest. Barclays and HSBC, two of the biggest banks in Europe, let alone the UK, didn’t release apps until 2012. But our new report, 2014 UK Mobile Banking Functionality Benchmark, suggests all that is changing. UK banks now do well where it matters most to customers - across money movement, balance checking and transaction history search. Some of last year’s laggards have overtaken last year's leaders, and many UK banks now offer mobile sales functionality - ahead even of their peers internationally. Here’s the headline story: