If Loyalty 1.0 was all about discounts, points, and miles, Loyalty 2.0 is all about differentiation and engagement. Competition for customer attention is steeper than ever, and companies are always looking for innovative ways to set their loyalty programs apart. But the loyalty landscape is chock full of shiny pennies (and some not-so-shiny pennies) claiming to offer a solution to this engagement problem. Throw rapidly evolving technologies, channels, and tactics into the mix, and marketers have a lot to consider when deciding where to make their bets.
If you’re nodding your head, you aren’t alone, and you are in the right place. Cutting through the clutter is exactly what our latest report, “TechRadar™ For Customer Intelligence Professionals: Customer Loyalty Programs, Q1 2013” (subscription required) is all about. We spent the past several months investigating the current maturity, business value-add, and future trajectory of 13 loyalty tools, including affiliate networks, card-linked rewards, coupons, location-based services, mobile applications, program websites, and social rewards. At a high level, we came away with two key observations:
When we look at our Technographics data on mobile banking adoption by bank, it’s clear that some banks are doing much better than others. Why?
Some banks are lucky. Some banks have distinctive brands or propositions that have earned them a customer base that is younger, better educated and higher income than the population as a whole. These customers are more likely to own smartphones, more like to use the mobile Internet, and more likely to be technology optimists. That makes them pre-disposed towards using mobile banking and so relatively easier to persuade to adopt mobile banking.
Others have just worked hard. The rising tide of mobile Internet adoption is not raising all boats at equal speed. Some banks have persuaded far more of their customers to use mobile banking than others. The secret of their success? The digital banking teams at the most successful banks have worked long and hard to design, build and promote mobile banking services that meet their customers’ needs.
To avoid brand dilution, RIM’s corporate brand name is disappearing today and is being replaced by BlackBerry for shareholders and employees in an attempt to instill brand values internally.
While the (too) long-awaited new Blackberry OS is innovative and will help reduce churn among BlackBerry’s 79 million existing subscribers to competing devices from Apple and Android in 2013, the longer-term challenge for the BlackBerry brand is still huge.
Don’t get me wrong: The great strides that BlackBerry’s made in the device and OS deserve credit.
The two new devices announced today — in a price range above $500 — also look great and on par with, if not better than, the best high-end smartphones on the market today; they have eventually put an end to the poor browsing, app, and multimedia experiences delivered on BlackBerry devices until now. The new OS brings some very interesting and innovative features. The smart contextual prediction keyboard, the BlackBerry Hub, the BlackBerry Balance, as well as the new video chat and screen-sharing functionalities available to BBM users will also offer a seamless and innovative experience to the “business execs,” “working moms,” and “hyperactive teens” that BlackBerry is targeting. Telecom carriers will also significantly support the new devices, with about 200 operators worldwide launching them by June 2013. Why? BlackBerry devices have always delivered more profitable customers to carriers because of their network efficiency. Due to the limited uptake (for now) of Microsoft’s Windows Phone 8, telecom operators will no doubt give the new products a chance to succeed in order to avoid being dependent on Apple or Google.
However, there is little rationale today for most product strategists and marketers to invest in customized BlackBerry experiences.
Hello Fellow B2B Marketers, this weekly blog post highlights our ongoing research focused on B2B revenue acceleration, as well as an exclusive look into what outputs you can expect in the coming weeks. Kick off your week here every Monday to get a burst of support for your professional success.
Forrester hosts its Sales Enablement Forum in Scottsdale, Arizona, on March 4 and 5, 2013. Attendees will engage as a community with a shared focus on driving revenue, hear success stories in process from their peers and leading B2B practitioners, become immersed in the latest thinking and data from Forrester including face time with analysts, all in the comfort of the Camelback Inn Resort & Spa. Over the next few weeks, Marketing Mondays will spotlight the themes of the forum through a series of Q&A sessions with attending analysts. This week I sat down with Norbert Kriebel to discuss his track at the upcoming forum.
Forrester hosts its Sales Enablement Forumin Scottsdale, Arizona, on March 4 and 5, 2013. Attendees will engage as a community with a shared focus on driving revenue, hear success stories in process from their peers and leading B2B practitioners, become immersed in the latest thinking and data from Forrester including face time with analysts, all in the comfort of the Camelback Inn Resort & Spa. Over the next three weeks, Marketing Mondays will spotlight the
My colleague Megan Burns and I have just published our new report "Executive Q&A: Customer Experience Measurement" in response to all the great questions we’ve been getting about measuring customer experience. To measure customer experience (CX), firms need a framework that tells them not only how good their customers' experiences are but also how to improve them and what benefits to expect from doing so. Increasingly, companies are developing such a framework despite facing sometimes-major obstacles.
This report answers some of the most common questions customer experience professionals agonize over when it comes to CX measurement.
One of those questions we are often asked is, “What does it mean to measure customer experience?” Here is the answer. Forrester defines CX as: how customers perceive their interactions with an organization. Therefore, fundamentally, to measure customer experience is to measure customers' perceptions of their interactions with a firm.
Executives at digital businesses cite a wide variety of challenges when expanding globally, but “finding the right talent to run our organization” inevitably factors high on their lists. Yet despite the extensive preparation that goes into international expansion efforts, it’s rare to find companies staffing up far in advance of these initiatives. Some thoughts for digital organizations with increasingly global aspirations:
Think international – even before you are. It’s common to hear of multinational corporations thinking globally when creating content. For example, by avoiding website or marketing content that includes numerous local references, it becomes easier to translate that content into other languages. Executives need to extend this idea of early preparation from content to people as they staff up their teams: If digital leaders know they want to operate in multiple markets going forward, they need to start building teams with global knowledge well before they start their international expansion.
Hire candidates with international experience across the organization. Companies do not need to hire global talent with the sole purpose of contributing to international expansion. To the contrary: Many digital businesses bring in employees with strong language skills and knowledge of different global markets to work in a wide variety of capacities within the organization. A more globally experienced workforce can provide more diverse insights – additionally, as international markets rise in importance, those organizations that have hired and mentored employees with knowledge of these markets will be better positioned for success later. Some smaller vendors, for example, were able to establish a foothold in emerging markets relatively quickly by relying on executives with existing knowledge of these countries to guide their market entry strategies.
In a new report out today, my colleague Sarah Rotman Epps writes about the emerging but limited market for fitness wearables like the Nike+ FuelBand and the Jawbone UP. The report finds that only 4% of US online adults, or about 8 million consumers, fit a target profile predictive of buying a fitness wearable. Why so few? It turns out that mainstream consumers’ attitudes are very different from the health-conscious tech optimists buying these products today.
A few months back, we set out to understand how mainstream consumers feel about these devices using our Market Research Online Community (MROC) of 1,500 general US online consumers. As I’m using a wearable health-tracking device, I was excited to learn whether these consumers saw the same value that I saw in these innovative products.
Well, they don’t. In fact, “excited” isn’t even in their vocabulary when it comes to wearable devices. “Waste of money” was more how they described them.
Consumers feel that they know what to do to maintain a healthy lifestyle and use the concept of “moderation” to monitor their health, rather than fancy devices. In general, though, they lack self-awareness of their own unhealthy habits, they don’t feel accountable for their own health, and they expect their primary care doctor to monitor their well-being over the long term. Their perception is that wearable devices are for people who are chronically ill, need help with weight loss, or have obsessive personalities.
Sensor-laden wearable devices, with their unique ability to capture data generated by thebody, are important components of a larger phenomenon we call “smart body, smart world.” Use cases for wearables could extend to anything from navigation to shopping to social networking to productivity. One scenario in particular – health and fitness – has inspired a number of wearable devices that launched in 2012 like the Nike+ FuelBand, the Basis smartwatch, and the (relaunched) Jawbone UP. These new products spur the questions: Can the market support this many wearable fitness products, and who should these products target?
Effective content marketing is now critical to B2B marketers’ success because useful content accelerates potential buyers along their journey, writes Peter O'Neill. This raises a serious content challenge for B2B marketers. Their content should be available and compelling across all touchpoints in the customer life cycle — from the awareness phase (from the vendor’s point of view) through to the phase that Forrester calls customer retention and expansion.
Are B2B marketers rising to this challenge? Forrester’s Q4 2012 US And Europe B2B Marketing Tactics And Benchmarks Online Survey provides us with an answer. As we make clear in this report, there is significant room for improvement. Here are some significant shortcomings that we highlighted in the responses from 328 B2B marketers:
B2B marketing content works for lead nurturing but nothing else. When asked about the effectiveness of content marketing among 16 separate marketing tactics, the rankings range from No. 15 in the awareness phase to No. 5 as a tactic for lead origination; it’s in third place for lead nurturing but drops back to No. 6 in the customer retention and expansion phase.
B2B marketers create most of their content internally. The majority of the content produced is created internally either by the marketing department (44%) or by other employees (14%). Organizations that create their own content with only internal staff tend to remain fixated on their product and solution.