Update Your Application Development Sourcing Strategy To Drive Innovation And Differentiation

The Co-operative Bank Tops Forrester's 2010 European Bank Customer Advocacy Rankings

Benjamin Ensor

A few months ago I blogged about how the UK’s Co-operative Bank had come top in our UK Bank Content & Functionality Benchmark. The bank has now done it again by coming top in our 2010 European Bank Customer Advocacy Rankings.

Customer advocacy is the perception among customers that the bank does what’s right for them, not just what’s right for its own bottom line. In every country we survey in our Consumer Technographics® research, we’ve found that customers who view their main bank as a customer advocate have more accounts at their main bank, are more likely to consider their bank for their next financial purchase, and are more likely to recommend it to others.

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Do Your Value Propositions "Go To Eleven"?

Scott Santucci

In Rob Reiner’s 1984 “rockumentary,” This Is Spinal Tap, one of the main characters, Nigel Tufnel, proclaims that they are different than other bands because their amplifiers “go to ll.” (You have to watch this clip if you don't know what I am talking about).

What a perfect analog of how B2B companies are trying to differentiate themselves today. I have the opportunity to work with sales and marketing professionals on the topic of competitive preference, and here are some actual quotes from vendors about how they think they separate themselves from “other blokes”:

  • “But we are truly global and our competitors are not” – a managed services provider
  • “We are much more scalable than them” – a software provider
  • “We deliver our services in the cloud” – a software-as-a-service provider

Translation? “These go to 11.”

You know the show MythBusters?

Forrester’s Sales Enablement team is testing the conventional wisdoms of sales and marketing by asking executive level buyers what they think. 

So, does “11” differentiate you? No.

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