Last week, WikiLeaks posted a treasure trove of internal emails from the Democratic National Committee (DNC). The leaked emails demonstrated a clear bias within the DNC against Bernie Sanders and for Hillary Clinton, when the organization claimed to be neutral. The incident:
Confirms two of our 2016 cybersecurity predictions:
In 2015, we predicted that cybersecurity would become a major issue in the 2016 US presidential election. Not only have candidates discussed cybersecurity issues such as encryption throughout the debates, with the DNC email leak, cybersecurity itself is taking center stage in the election and influencing events. It is worth noting that hacking during election season is not purely a US-related issue. The entire voter registration database of the Philippines, which included fingerprint data, was hacked this spring.
We also predicted that an executive would need to step down due to a cybersecurity breach. As the result of the embarrassing emails, the DNC chairwoman, Debbie Wasserman Schultz, has announced her resignation at the end of the DNC convention.
There are a number of predictive analytics firms dedicated to helping B2B revenue leaders examine their own successes and losses to inform everything from account selection to next-step action analysis and recommendation.
Well, many of you have "taken the plunge," or are about to. Nearly two thirds of marketing decision makers plan to implement or upgrade predictive analytics solutions during the next 12 months. Since I joined Forrester a few months ago, I've spoken to many of you that wonder what lessons early adopters have learned and how to consider predictive marketing analytics in the context of your specific go-to-market strategies and organizational goals.
What we found is that three categories of use cases dominate the current landscape, not only laying the foundation for more complex use of predictive marketing analytics, but also supporting the full scope of the customer lifecycle, from net-new prospect identification to account expansion:
As CIO Executive Partners at Forrester, we meet technology leaders in almost every industry sector. One theme is clear: The typical career path, leading to CIO has changed.
No patience for CIOs to learn new tricks.
Companies are now looking to leadership from non-traditional CIO career path sources. Over the past few years, we've noticed an increase in line-of-business leaders being appointed CIO. Within the past 12 to 18 months we've also seen Digital channel / eCommerce experts, being appointed the overall CIO.
Why are Executives turning to new sources for their CIOs?
For a few decades now, tech leaders have been focused on running a stable, secure, predictable and efficient technology platform. Everyone expects you to get the "table stakes" right. That is no longer enough to keep your position in the company secure.
Back in November 2015, Forrester Analysts Nigel Fenwick and Pascal Matzke summarized the perspectives of the CIO research practice in a Predictions 2016 report: "The New Breed of CIO." In the report they claim that in 2016, CEOs will expect CIOs to grow out of being mere custodians of technology and to actively wield tech to drive revenue instead. They go on to state that, "Effective CIOs will spread outside-in thinking, agile delivery and a sense-and-respond culture to deliver digital success."
Not only is this prediction today's reality, CEOs are making quick assessments as to whether or not they have the right team to achieve results. If they perceive they don't, they are looking to new sources for their Tech Leadership.
In this post I'll explore another big finding from our research: CX-fueled digital disruption. In this year's CX Index results we found that:
Wireless service providers continue their advance, floating all digital boats. This year we saw an advance by the wireless service providers that help enable digital disruption through their networks: The high, low, and average scores for the industry all went up. Just as telling, seven of the 11 brands in our rankings improved while the remaining four brands' scores stayed the same. This general upward movement pushed the industry into fifth place overall.
Over-the-top (OTT) services crush incumbent TV service providers. This year, for the first time, the CX Index includes OTT service providers — companies like Hulu and Netflix that distribute video over the internet through a subscription model instead of through a legacy pay-TV provider. In their debut, even the lowest-scoring OTT service provider beat the highest-scoring cable company. OTT providers' universal superiority signals a huge threat to the revenue streams of traditional subscription TV services.
If you are the CMO of a large company, you are probably wondering what the hell Pokémon Go means. If you're not up-to-date, this "played on a smartphone" game has taken the world by storm over the last three weeks. In the game you collect characters (a Pokémon) by physically travelling to where they are geo-located, capturing them, and then using them to battle the teams of other players. Pokémon are located in specific places; there are "Pokéstops" where you can acquire special powers; and there are "Gyms" where you can fight other teams. My screen shot to the left shows me (the backpack guy) in my office building and the thing that looks like a tower in the upper right hand corner marks the bowling alley in front of my office which is a Gym. Needless to say, Lanes and Games is really, really happy to have digitally-generated foot traffic.
The game has generated massive followership in the days since it became available -- here's what resulted in Central Park when a rare Pokémon showed up there on a recent Saturday night...
None of this was making sense until I read Forrester's latest report on the changing consumer. Here's a link to the report (summary if you're not a client).
When I read the news of Unilever buying Dollar Shave Club I couldn't help but think of an advisory session I did for a big CPG firm with colleagues Melissa Parrish and Brigitte Majewski a few months ago. One big topic of conversation was how to build a brand today in a media and marketing world that is so fragmented. We had used Dollar Shave Club as an example of how the rules have changed in the post-digital era.
I can't help but read from this the end of the mass marketing era whose rules P&G is rightly famous for codifying and rigorously training its brand managers in. My conclusions from this example include:
The end of product innovation. Really interesting story about how Gillette's 5-blade razor bombed. Basically, products reach a point of development that no further improvement is needed. Or at least the added cost of the innovative product didn't bring commensurate increase in performance to justify it. The model of continuous product innovation hit the wall -- certainly a product strategy driven out of a lab and corporate goal to merely increase price and profits hits the wall. DCS listened to customers and innovated not the product, but the pricing and distribution model to solve a different problem than delivering a "better" shave.
I started my corporate career in financial services – working for several large, global high street banks in Asia. During my time “in the trenches” of wholesale and mass affluent consumer banking, I watched a number of ambitious and well-intended new product and service ideas rise through the ranks of budget approvals and stakeholder support only to make it to market and then die a slow death on the vine when customer adoption or planned value failed to meet expectations.
Notwithstanding, the ideas were good – many smart people worked on these projects. However, equipped with the clarity of time, I reflect back on some of those projects today and see a common thread between them. Fundamentally, those shipwrecks all shared one thing in common – they were never properly vetted with the customer before they were commercialized.
Today, while financial institutions are getting smarter at collecting quantitative data around channel experiences; the qualitative validation piece, the ethnographic research piece, the co-creation with customers piece is still missing in most organizations. In some cases, it’s only happening at the bleeding edge. While agile methodologies and minimum viable product-quick-to-market thinking has closed the gap on aligning with customer needs and expectations, the industry as a whole would benefit from an injection of human centered product and service design thinking to move the industry’s CX from good to great.
Join us for our inaugural invitation-only Next-Generation Financial Services summit in Sydney on Thursday, August 4 where I will delve into the topic of design thinking for financial services with my presentation, Fix your Products and Services with a Dose of Design Thinking.
Forrester's survey for ECM decision-makers is open, and we're looking for your participation! Take this opportunity to provide your perspectives on the key vendors, the challenges, and the opportunities you see in this technology market. This survey is intended for ECM decision-makers or influencers in end user organizations. This is not for ECM vendors or systems integrators . . . but vendors and consultants — we would love it if you could share this survey invitation with your customers. The survey will remain open until end of day Monday August 1, 2016. August 15th!
The survey will take approx 15-20 minutes to complete.
Why is your input important? Forrester uses this data to:
Keep our Enterprise Content Management Playbook fresh and relevant. Clients who are embarking on a new or updated content initiative rely on these interconnected reports to understand the landscape and market direction and build out the business cases, continuous improvement plans, and the org charts to succeed.
Track the trends and emerging use cases for ECM — for both business and transactional content services. Where are investments being made? How is cloud shaping your road map? What are the top challenges facing your programs today?
Educate clients and nonclients alike via research, blog posts, webinars, and industry presentations. This survey data helps us validate and verify where ECM markets are evolving and aid you in making better investment decisions.
According to data from Forrester’s Consumer Technographics® Asia Pacific Online Benchmark Survey, 2016, in the past three months Amazon has, for the first time since 2014, surpassed Flipkart as the preferred online retail destination for consumers in India’s metropolitan areas. Amazon’s takeover has been rapid: 30% of respondents in our 2014 survey reported buying from Amazon; this year, 76% said they did. Compare this with Flipkart’s essentially flat growth: from 63% in 2014 to 68% in 2016. Snapdeal remains far behind both Amazon and Flipkart.
Customer insights professionals consistently ask me what other companies are doing to turn their customer data into actionable insights. To answer this question, Forrester partnered with Burtch Works, an analytics executive recruitment agency, to survey customer analytics and measurement professionals about their current efforts. I’m quite thrilled to share the results in my State of Customer Analytics 2016 report.
This goal of this report is to give CI pros, marketers, and anyone tasked with gleaning insights from massive amounts of customer data a concrete snapshot of what others are doing in the space. Here are a few of the key questions we set out to answer:
What are the top data sources companies are using for analytics and measurement?
What types of analyses are they doing?
How and where are they applying insights?
What challenges do they face?
In analyzing responses, we segmented companies based on their customer analytics sophistication so readers can see what separates leaders from laggards. My hope is that as you read through this report, you will be inspired to evolve your own customer analytics maturity. Please feel free to reach out to me via inquiry if you’d like to discuss how to do so.