Pricing Can Make Or Break The Customer Experience: Find The Issues That Drive Away Your Customers!

Pricing matters when it comes to your customers' experiences and loyalty! You are not quite sure? Let's do a short quiz:

Have you ever:

  • Left a rental car counter flabbergasted by the final price?
  • Given up on finding a new mobile phone plan when the sheer number of options obscured the best choice?
  • Checked your latest bank statement only to find an unexpected new fee?
  • Squeezed into a middle airplane seat because the alternative meant shelling out $20 for a preferred seat assignment?
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A tale of two brands: Are you ready to embrace the realities of digital business in 2013?

2013 is going to be a fascinating year for retail in Europe.

When I look at what’s to come this year, I can paint a picture of what Forrester predicts by looking at a tale of two brands. Both are iconic, heritage British brands that have responded to their increasingly digitally enabled consumers in two very different ways. Naturally, this has resulted in two very different levels of success.

1. HMV
One picture says it all . . .

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Which Comes First: Content Marketing Or Thought Leadership?

Once upon a time, there was a little marketer with a big problem. Her sales executives said, "We need more leads." So she bought a big new shiny marketing automation engine . . . .

Stop me if you've heard this one before, but I'm sure we all know the end of the story. The marketing engine didn't live up to expectations because data and content didn't come in the box.

More than ever, marketers view content as the fuel needed to run a powerful revenue generation machine. But the debate over the quality of the content created seems to have reached a fevered pitch. Look no further than posts from SAP's Michael Brenner, Marketo's Jon Miller, UK-based Velocity (the slide show here is a riot!), Dr. Liz Alexander, and SHIFT Communication's Christopher Penn to see the backlash against bad content marketing practices grow.

Why now?  I see four key trends converging on business-to-business marketers that drive interest in, and failure with, content marketing:

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Handholds For B2B Marketers On The Slippery Slope To "Cost Center"

I recently stumbled upon a very old quote from Peter Drucker, which completely nonplussed this lifetime marketer. Mr. Drucker observed (in his 1973 book Management: Tasks, Responsibilities, Practice) that the fundamental purpose of a business enterprise is to create a customer. And because of that, he said, “The business enterprise has two - and only these two - basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.”

Today’s B2B marketing execs know that Drucker’s statement is a fragile hypothesis that gets tested at least every budget cycle and often every quarter. You know that if you are not able to quantify the business impact of the budget dollars spent on advertising, trade shows, and promotion, your CFO looks at marketing as a cost center: one of the first places to cut when the business indicators dip, and one of the last to be renewed when things turn around.

Revenue is the lingua franca of the modern enterprise

That’s why demonstrating the revenue return on marketing investment (ROMI) is the No. 1 issue for B2B marketing executives. In Forrester’s most recent B2B Marketing Organizations And Investments Survey, when we asked marketing execs to identify the most important metrics for their marketing organization, 56% identified a revenue-related metric — compared with 44% for customer satisfaction and 40% for brand awareness.

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MWC 2013: More Global And More Disruptive Than Ever Before

It’s that time of the year: the pilgrimage to the Mobile Mecca, Mobile World Congress (MWC), in Barcelona. This is my 10th pilgrimage in a row and, needless to say, the event has changed tremendously over the past few years – from 3GSM in Cannes to the new venue in Barcelona this year. While CTIA is still very US-centric and CES is still a lot about TVs, MWC is really the only global mobile event with a strong presence of operators and handset manufacturers from all over the world. Every year the show becomes not only more global, but also more open to new categories of players — such as advertisers and developers — willing to make the most of mobile technologies, and more open to connected devices that go far beyond the traditional definition of a mobile phone. Markets are colliding and mobile innovation is at the center of these upheavals. MWC used to be a telecom show focusing mainly on mobile technologies, but the event is now bringing together people from every industry.

In the light of today’s first announcements, here is my take on how to put in perspective the announcements to be made at MWC 2013 in the coming days:

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You Cannot MANAGE Customer Experience If You Cannot MEASURE It! Join The Workshop "Customer Experience Measurement Essentials"

Are you trying to take your current customer experience measurement to the next level?

Many of the customer experience professionals we talk to regularly are working on improving their customer experience measurement. You are probably one of them. You might be working on picking the right metrics, on connecting customer experience to business outcomes or to operational variables, on using data to improve the customer experience, or on getting traction for CX measurement in your organization. To conquer any or all of these challenges, you need a solid and well-founded customer experience measurement framework. 

In Forrester's workshop Customer Experience Measurement Essentials, you will:

  • Learn the fundamentals of measuring customer experience in both a business-to-consumer and business-to-business world.
  • Get to know Forrester's framework for how to identify, organize, present, and get buy-in for customer experience metrics across the enterprise.
  • Discuss your approach and challenges with your CX peers and see what other companies are doing.
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How Marshalls, Courtyard By Marriott, And Lowe’s Meet Customer Needs

Earlier this week, someone asked me which firms in the CXi do the best job at meeting customer needs. The three top scorers on that criterion were:

  • Marshalls (93%)
  • Courtyard by Marriott (92%)
  • Lowe's (92%)
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You Get Out Of Your Community What You Put Into It.

For the first time since I started my analyst role at Forrester in 2011, community conversations have surpassed social media conversations during my client meetings. Online communities and social networks have been around for many years, so why are communities such a "hot" topic among marketers? These days it is rare to find a company who has not either launched their own customer community, published a fan page on Facebook, or created a business profile on LinkedIn. These tactics are not new, so why the increased interest? I believe that marketers are finally beginning to absorb the fact that their perpetually connected customers frequently tap into online communities. Their customers frequent communities at each stage of their customer life cycle to gather information and connect with others. Today, marketers know that they can use online communities to reach, deepen engagement, and establish relationships with customers. In addition, marketers have a stronger case to increase investment in their community strategies since there is growing evidence that deploying a customer community can lead to positive ROI through support call deflection, increased leads, and stronger engagement with brand advocates. 

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You Get Out Of Your Community What You Put Into It.

For the first time since I started my analyst role at Forrester in 2011, community conversations have surpassed social media conversations during my client meetings. Online communities and social networks have been around for many years, so why are communities such a "hot" topic among marketers? These days it is rare to find a company who has not either launched their own customer community, published a fan page on Facebook, or created a business profile on LinkedIn. These tactics are not new, so why the increased interest? I believe that marketers are finally beginning to absorb the fact that their perpetually connected customers frequently tap into online communities. Their customers frequent communities at each stage of their customer life cycle to gather information and connect with others. Today, marketers know that they can use online communities to reach, deepen engagement, and establish relationships with customers. In addition, marketers have a stronger case to increase investment in their community strategies since there is growing evidence that deploying a customer community can lead to positive ROI through support call deflection, increased leads, and stronger engagement with brand advocates. 

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MOVE BEYOND THE CAMPAIGN

Standing in an aisle of a big box retailer, I bought a new electric shaver from a competing retailer’s online store. The store’s shaving display reminded me that my razor was dying. Not knowing which to choose, I twitched for my iPhone, scanned a barcode, read several reviews, explored competing products, found the best price, and ordered it with free shipping. I saved $75 over the same model I could have purchased then and there.

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