But if you use the tablet to post reviews of Italian restaurants on Yelp, Amazon would merely collect that data, bundle it with the fact that a lot of customers in your community seemed to be favorably reviewing Italian restaurants, and then strike a deal with one restaurant to offer discounts, which it would e-mail to you. Some customers might feel tracked; others might not even notice.
David's example is certainly worthy of consideration. Building a database of targeted offers and triggered campaigns from aggregated browse behavior is one way for Amazon to extract value from Silk. It's clearly a striking example for privacy advocates, but it's not the whole story.
Aside from the Customer Intelligence advantages, Amazon's Silk browser also provides the retailer with competitive intelligence (the other CI?). Amazon can watch for products or product combinations purchased on competitor websites, then optimize its merchandise to match or beat those competitors. Besting other retailers doesn't require it to track individual Kindle Fire users or target them through seemingly creepy direct marketing. Instead it can continue to do what it does best -- optimizing its supply chain and catalog -- without appearing to overstep customers' privacy expectations.
The competitive issues raised by Silk are as critical as the individual privacy concerns.
Are you a retailer who competes with Amazon? What should CI professionals do to combat Amazon's move?
Mobile banking adoption among US online adults more than doubled in the past two years. However,Forrester’s Technographics® data shows that 85% of online adults in the US have never used mobile banking. When we look more in depth at the reasons why, we get answers such as “don’t see the value,” “don’t believe it’s safe,” and “don’t want to pay for fees.”
US consumers have plenty of alternatives they can use, like ATM machines, online banking, and retail branches. For them, the benefits have to outweigh the hurdles. Yet it’s a different story in other parts of the world. Due to a lack of existing banking infrastructure, we see mobile finance penetration picking up quickly in developing markets like China, India, and even Africa, fueled by the growing cellular penetration and mobile Internet penetration in these regions. In fact, in the most recent World Economic Forum’s Digital Asia panel that Forrester CEO George Colony moderated, Michelle Guthrie, JAPAC director of strategic business development at Google Asia Pacific, stated that for the next hundred million users coming onto the Internet in Asia, primary access to the Internet will be on mobile, and maybe only on mobile due to the infrastructural challenges (and costs) of fiber and broadband.
Join me in Chicago on October 27-28 as I help you prepare for digital disruption.
Not old-school disruption, the kind you've heard of before, that takes years to develop and decades to have its devastating effect. I'm talking about digital disruption -- a better, stronger, faster version of disruption that is running rampant across industries as divergent as book publishing, cosmetics, and auto insurance. Digital disruptors are people and companies that use digital tools to: 1) remove traditional barriers to entry; 2) produce better products and services; and 3) build digital relationships with your customers that forever relegate you to the margins of your customer's thoughts and plans. And they do all of this faster than you can.
It's what makers of the app Lose It! are doing to the dieting business (and what their competitors at Daily Burn are trying to do to the folks at Lose It!); it's what Garmin is poised to do to personal training; it's what our magic mirror will undoubtedly do to the beauty and wellness business; and it's what every digital disruptor is plotting to do to your business right now.
Beat them by joining them. Become digital disruptors yourselves before it's too late. How? By stealing crucial pages from the digital disruptor's handbook. Check out this video summary to hear more about The Disruptor's Handbook.
Live today is Forrester’s new free benchmarking tool that can help you compare your company’s interactive marketing budget and organization against your peers’. Simply answer a few questions and our tool will compare your answers with similarly sized companies against five metrics:
The size of your interactive marketing budget
The share of your advertising budget dedicated to interactive marketing
The percent of your interactive budget earmarked for emerging media
The size of your interactive team
The number of agencies you work with for interactive support compared with other companies of your size
Late last night, James McQuivey and Brian Walker performed dry runs of their upcoming keynotes for Forrester's Consumer Forum 2011 (#FCF11). I'm so excited for all of you to see these presentations and to hear the key concepts and advice both will share in Chicago Oct. 27-28!
James will prove to you why digital disruption is accelerating, how to assess your company's susceptibility to digital disruption, and what you need to do to go on the offensive to become a disruptor; building the total product experiences your customers expect in the age of the customer. I encourage you to watch this quick video of James previewing the main themes and content for his speech (4 minutes).
The collection and use of consumer data in digital channels continues to evolve at a fast pace. I want to highlight two recent reports that address key areas of this topic that matter for interactive marketers. Earlier this week, I published a report that details data collection best practices for interactive marketers. The second one, Personal Identity Management, is a must-read courtesy of Fatemeh Khatibloo, who serves customer intelligence professionals here at Forrester.
In her report, Fatemeh introduces Personal Identity Management (PIDM), which has two primary components: 1) personal data lockers for consumers to hold their information, and 2) authorization management that ties data silos together, lets users update and manage their personal data, and enables consumers to approve requests for their data and share their data with marketers.
PIDM is in its early stages, but it could add another layer of complexity to consumer data collection and use if the digital ecosystem embraces it. As an interactive marketer, PIDM would alter how you:
Acquire personal information for marketing and analysis. Fatemeh’s report describes five areas marketers will need to focus on to unlock consumer data: privacy, security, transparency, portability, and economy. Communicating your value proposition to consumers will become much trickier.
Develop interactive marketing environments. Your team – including your internal and external partners – will need to adapt its processes, policies, and capabilities to account for consumers’ new data gatekeeper role.
According to an Advertising Age article that discussed a new IBM survey released today, many CMOs "believe that marketing's financial return on investment will become a key marker of success in the next three to five years." With continued economic turmoil, marketing leaders are facing increased pressure to measure their results, but faced with an overhwelming amount of data, finding the right KPI needles in the haystack of information can be overwhelming. To sift through this data overload, we are conducting research for a report on how leading marketers will be measuring success. Take our survey on ROI measurement to tell us how you are changing your ROI approach for 2012, and we'll send you a copy of the results so that you can see how others are navigating the ROI path.
What do autumn’s cool breeze and changing leaves signal for market researchers (especially those who live up north)? The beginning of the fall market research conference season. This is where we move past our virtual conversations via blogs and Twitter and meet face to face to talk about what really matters to us. For me, it is all about the benefits of emerging and innovative methodologies and what place they will have in our immediate future. Looking over my conference schedule, my conference season “theme” has primarily shaped up to be all about mobile, which doesn’t surprise me. As I wrote back in July, we need to wake up and start thinking about mobile. Mobile offers us the unique opportunity to close the distance between the consumer’s experience and our assessment of that experience. As such, I firmly believe that mobile research will be one of the most critical methods we have at our disposal to help us understand the empowered consumer in this new Age of the Customer.
Where will my “mobile-themed” road show take me this conference season? Here is where I will be in the next month or two.
First, I will be speaking at CASRO’s Annual Conference in Palm Beach, October 19-21. Here, I’ll be joined by some great colleagues on a panel discussing how firms can identify which emerging methodologies to invest in and what the process entails. Mobile will definitely be highlighted here as an example of a methodology that delivers a significant ROI.
Technology vendors continue to focus on implementing sales coaching programs. I'm finding that sales coaching programs mostly focus on providing sales managers the skills they need to be more "coach-like" with their reps. When you step back and look at what kind of skills sales managers need to be more coaching oriented, you end up with a broad ranging list like objectively assessing reps and where they're at, or clearly defining future rep behaviors, or using technology to help inform sales coaching decisions. Along with this focus on skills, some sales coaching programs focus on defining the critical elements of each sales coaching conversation (like increased relevance, giving developmental feedback, and providing motivation). Yet, despite these efforts, the sales enablement professionals we talk to share their frustration that sales coaching doesn't quite take off with frontline sales managers like they were expecting.
For example, in one technology vendor, sales coaching didn't take off despite sales coaching training, top-down sales leader support, and feedback from reps demanding more coach-like interactions with their managers. In another technology vendor, it seemed massive communications and sales coaching training efforts were a non-starter (and dare I say it, dead on arrival). Why is that? Why are technology vendors seemingly doing the right things, but not getting the traction they expect?
It seems that one critical and often overlooked aspect of helping sales coaches be more successful is the ability to help coaches get started: 1) defining their sales coaching approach, and 2) starting each and every interaction with reps in a valuable and meaningful way, especially when those interactions are around previously identified sales coaching scenarios.
For decades, companies have been promising to delight customers, while simultaneously disappointing them in nearly every channel. That tactic won’t cut it anymore. Why not? We’ve entered a new era that Forrester calls the age of the customer — a time when focus on the customer matters more than any other strategic imperative. In the age of the customer, companies find that:
Commoditization has stripped away existing sources of differentiation. Competitive barriers of the past like manufacturing strength, distribution power, and information mastery can’t save you today — one by one, each of these corporate investments has been commoditized.
Traditional industry boundaries have dissolved. Companies in every industry find themselves competing with new types of competitors — automakers with services like Zipcar, newspapers with Google News, travel agents with Expedia, and the entire retail industry with eBay.
Customers have more power than ever. With online reviews, social networks, and mobile web access, it’s easy for your customers to know more about your products, services, competitors, and pricing than you — and to share their opinions of your company with their friends.