Indian Banking CIOs Must Take The Lead In Transforming Their Bank’s Marketing Technology

Manish Bahl

I have just published a report that builds on Forrester's research on CMOs' technology spending plans, focusing on India's banking industry. The Indian banking industry emerged unscathed from the 2008 and 2009 global financial crises, but it will not be immune to the age of the customer. My report outlines how technology will play an increasingly crucial role in implementing differentiated revenue models, a superior customer experience, and an optimized cost structure for banks. The key findings from the report include:

  • Digitally enabled customers are demanding customer obsession from their banks. Indian banking CMOs' top three business priorities are addressing the rising expectations of customers, improving margins, and acquiring and retaining customers — priorities that are similar to those of their peers in other industries. The experience that other industries offer — such as the compelling content, interactions, and features that consumer product companies provide — are shaping customer expectations, and customers want similar experiences from their banks. And the entry of new players and the tough economic situation are driving CMOs to increase their focus on winning, serving, and retaining customers.
Read more

The Enterprise Marketing Software Landscape, 2014 Edition

Corinne Munchbach

Forrester has written about enterprise marketing software (EMS) for almost a decade and in the course of that 10 years, there are a meager two things that have stayed the same: 1) the name and 2) the fact that we're talking about technology marketers use. Beyond that, the EMS space has undergone enough major change to be almost unrecognizable from earlier renditions. To that end, I just published a new/old report called "Let's Revisit The Enterprise Marketing Software Landscape (Again)" that builds on our existing years of research but offers a significant makeover to the categories and how we think about the components of the marketing software technology stack. Where used to put capabilities into four pretty traditional buckets — marketing management, brand management, relationship marketing, and online marketing — now we offer four new buckets, based on our contextual marketing research. The four new categories are interactions, analytics, insights, and automation.

In the report, I lay out what today's contextual marketer needs to do her much more complex job and therefore what she seeks in her technology. I also offer a lay of the land for a space that continues to change radically and rapidly. The report also highlights the core capabilities the vendors in each of the four categories provide today — and some of the areas on which they need to focus to really stand out for marketers. 

Give it a read and then let me know what you think of our categories and how you're sourcing all of these capabilities in your marketing org today. Enjoy!

Notes From My Meeting With Pitney Bowes CEO Marc Lautenbach

Tim Sheedy

Back in July 2012, I authored a post about Pitney Bowes and the company’s focus on reinventing itself. At that time, the company had a great portfolio of software assets and a good overall market message — but its market approach was fragmented, its solutions were not integrated, and it was a difficult company to figure out from the perspective of a customer or prospect. About 15 months ago, Pitney Bowes appointed Marc Lautenbach as its new CEO to address these issues.

Fast forward to today. Last week I had the opportunity to spend some time with Marc while he was in Sydney. In his brief time with the company, he has sorted out a number of the challenges I was referring to — including giving the firm a laser-sharp focus on a few key areas, bringing traditional assets into the digital world, refining its sales model, and leveraging those areas in which it has competitive advantage.

Marc sees PB’s main opportunities in the following areas:

  • eCommerce. PB has the ability to classify assets for all types of commerce providers and ship them anywhere around the globe.
  • Location-based solutions. Not only does PB have great mapping information, but it can also integrate data from any domain and apply its own algorithms to make that data valuable.
  • Printers, sorters, meters, and inserters. This isn’t a fast-growing business, but it’s a big one — and one that’s still important to many companies. It’s also a segment in which PB has some unique capabilities.
Read more

For Marketers, Salesforce1 Aspires To Be The Platform Of Customer Obsession

Corinne Munchbach

After one of the biggest announcements in the marketing technology space of 2013 — Salesforce.com's purchase of ExactTarget — few were surprised to see the ExactTarget Marketing Cloud feature prominently at Dreamforce last week in San Francisco. But the real headline grabber was the introduction of Salesforce1, a cloud-based platform for what the company calls the "Internet of customers." We've got a deeper look into the implications of this for marketers for Forrester clients, but some of our key takeaways were that Salesforce:

  • Gets the age of the customer and what it means for their products. CEO Marc Benioff spoke at length about the "customers behind the devices" and the importance of engaging with those individuals, rather than the things they use to connect to the Web. We are in what Forrester calls the age of the customer, where "the most successful enterprises reinvent themselves to systematically understand and serve increasingly powerful customers." The Salesforce1 vision is to be the technology engine behind those firms — and the announcement takes a big step in that direction.
Read more

What do marketing organizations and doctor's offices have in common?

Corinne Munchbach

I was driving home from work the other day and listening, as usual, to Boston's National Public Radio station, WBUR, when a story came on about the push for doctors and hospitals to go digital by turning patient records into electronic health records (EHRs). There are a lot of tricky challenges that come with digitizing these documents: hundreds of products on the market to help with the effort, a steep upfront cost, lower productivity on day to day tasks while the system is implemented, the cost of accompanying hardware and maintenance, and a learning curve for doctors, nurses, and other staff. But as one of the office managers said for the story, the biggest challenge is actually "having everybody have a positive attitude to do it. If we can all keep positive and get through it and learn it...I think we'll be okay." Supporters of this effort cite improved cost and better, more efficient care - a win for all stakeholders - but in the early stages, it's hard for some to see tangible improvements.

Read more

Siebel & Eloqua: Can You Outrun Your Future?

Rob Brosnan

"Logan: That's the way things are. The way things have always been."

In Redwood City this week, the answer I heard from Oracle was an emphatic yes. At Oracle's Industry Analyst World, the company stressed its cloud bonafides against Salesforce, IBM, and SAP with its new Customer Experience (CX) Suite. The CX Suite is a horizontal offering, assembled primarily from acquisitions, newly rechristened as Oracle Marketing (Eloqua), Oracle Commerce (ATG, Endeca), Oracle Sales (Oracle CRM On Demand), Oracle Service (RightNow), Oracle Social (Collective Intellect, Vitrue, Involver), and Oracle Content (Fatwire).

The Software as a Service (SaaS) suite promises to deliver a lower total cost of ownership, easier integration, and faster time to value for a business looking to streamline its enterprise software providers. While Oracle's approach is to lead with SaaS, it also promotes an Enhance, Augment, Migrate strategy, enabling existing customers to extend an on-premises deployment --- think Siebel Loyalty --- with one or more CX products, say Eloqua's email delivery capabilities.

You Can Outrun Your Past

So what does it mean for Eloqua? Marketers using or considering Eloqua should recognize that Oracle:

Read more

MOVE BEYOND THE CAMPAIGN

Rob Brosnan

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.

Read more

Move Beyond The Campaign

Rob Brosnan

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.

My example is commonplace today. Perpetually connected customers – 42% of US online adults and 37% in Europe – can engage brands at any place, any time, and at any velocity. The technology trends that lead retailers to worry about showrooming touch every industry. Each brand must anticipate connected customers’ demand for information, reviews, and engagement. They must realign technology, processes, and talent to recognize customers in microseconds, using real-time signals to predict their needs and paths to purchase. And they must see that this problem can’t be solved with faster technology alone.

Read more

Oracle Acquires Eloqua: A Do-Over For The Era Of Digital Disruption

Rob Brosnan

Today, Oracle announced that it will acquire Eloqua, a marketing automation firm. Oracle positions the deal as a comprehensive customer experience cloud that enables business to create an integrated, end-to-end process of marketing, sales, service, and support. I look forward to insight from my colleague Lori Wizdo on what the Oracle-Eloqua deal means for a marketing and sales alignment.

I think the deal has larger ramifications for the future of all customer relationship marketers and marketing vendors. Here’s my take on the deal:

Read more

Take Forrester's Marketing Technology Survey

Rob Brosnan

Using, investigating, or buying marketing technology? If so, we want to hear from you. Take the survey and receive a complimentary copy of the completed research.

Take the marketing technology survey

Forrester's global Marketing Technology Adoption survey investigates:

  • What technologies do marketers currently use, and what do they plan to use?
  • How much do marketers budget for technology acquisition and operations?
  • What are the users' top goals for and pain points from marketing technology?

You can use the survey results to:

  • Provide justification for a business case in your 2013 technology road map.
  • Compare your spend levels and technology use to those of other marketing professionals.
  • Spot trends and see best practices to incorporate into your technology strategy.

The survey will close on Friday, August 3, and the completed research report will publish in early September. Once the research publishes, I will also present the findings in a Forrester Webinar and in advisory sessions to interested clients.

Take the marketing technology survey

Please share this blog post and survey link with friends and colleagues who share an interest in marketing technology.

Thanks in advance for your support and involvement.