I regularly hear CIOs and IT suppliers discussing the “four pillars” of cloud, social, mobile, and big data as if they’re an end in themselves, creating plenty of buzz around all four. But really, they’re just a means to an end: Cloud, social, mobile, and big data are the tools we use to reach the ultimate goal of providing a great customer experience. Most CIOs in Australia do understand that digital disruption and customer obsession are the factors that are changing their world, and that the only way to succeed is to embrace this change.
The IT services industry is being challenged on two opposite fronts. At one end, IT organizations need efficient, reliable operations; at the other, business stakeholders increasingly demand new, innovative systems of engagement that enable better customer and partner interactions.
My colleagues Andy Bartels and Craig Le Clair recently published thought provoking reports on an emerging class of software — smart process apps — that enable systems of engagement. In his report, Craig explains that “Smart process apps will package enterprise social platforms, mobility, and dynamic case management (DCM) to serve goals of innovation, collaboration, and workforce productivity.” In other words, smart process apps play a critical role in filling gaping process holes between traditional systems of records and systems of engagement.
Not long ago, digital marketers lived by the rule “Content is king!”
Today, what matters is what you do with that content and your digital channels. In 2013, digital experience (DX) is king, so it’s imperative that you deliver interactions that are personal, contextual, and multichannel. We’re talking websites, mobile, social, email, and kiosks — with Google Glass and more coming soon.
Firms need the right technology in place so IT and marketing pros can deliver on this big vision if they intend to differentiate via digital. But let’s be frank: This is a complex challenge, and many companies are a long way from solving it.
Our report provides IT, business, and marketing pros a deep look at 10 providers of web content management (WCM) solutions — Adobe Systems, Acquia, Ektron, HP Autonomy, IBM, Microsoft, OpenText, Oracle, SDL, and Sitecore. We analyzed solutions across 100 criteria, reviewed extensive product demos, and spoke with dozens of WCM vendor customers. We heard the good, the bad, and the ugly of WCM use in the field. And, for the first time, Forrester’s WCM Wave looks at an open source platform (Drupal), through the lens of Acquia, a for-profit company that supports Drupal.
Digital capability – social, mobile, cloud, data & analytics – disrupts business models, introduces new competitive threats, and places new demands on your business. Highlighting this fact: Forrester’s 2012 “Digital Readiness Assessment” survey found that 65% of global executives say they are “excited about the changes that digital tools and experiences will bring” to their company.
While most people know these digital trends are coming, however, far fewer know how to purchase these cutting-edge digital capabilities. What companies will you rely on? Where are the new risks? What are the pricing models? In the survey mentioned above, only 32% of the same sample agreed that their organization “has policies and business practices in place to adapt” to those digital changes.
This is important, since developing the breadth of digital capabilities your company needs cannot all be done in-house. To succeed, your company will need to access the strengths of its supplier ecosystem, maximize value from strategic partners, and leverage emerging supplier models.
This is a tremendous opportunity for sourcing and vendor management professionals to increase the strategic value they provide to their business. But to do this, you’ll need to balance your traditional cost-cutting goals with demands for business expectations for growth, innovation, and value.
For social media evangelists, the question on everyone's mind is this: "How do we effectively measure the business value of social initiatives?"
Even when we get close, there's always that pesky issue of causation vs. correlation — can we really prove causation even for examples with high correlation between social initiatives and business outcomes? (Read Freakonomics, or watch the documentary, for insights into the challenges of causation vs. correlation.)
Today, at long last, we published our report officially introducing the always addressable customer, though I (andothers) have been talking about it for a while now. Just to refresh your memory, always addressable customers are people who own and use at least three web-connected devices, go online multiple times per day, and go online from multiple physical locations — and it's already 38% of US online adults.
This report was a true collaboration among many people on the Interactive Marketing research team, including Lizzie Komar, who was a pretty new Research Associate at the start of our journey, and who shares her thoughts about the report and its findings in the following guest post:
How many times have you been asked, “What’s your social strategy?” As Facebook’s IPO grabs the headlines, and new social sites like Pinterest and Tumblr grab consumers’ attention, many marketers are wrestling with what brand building looks like in today’s social world. But the real question you should be asking yourself is, “How does social media change your brand strategy?”
Marketing leaders now view social media as critical for brand building. In our February 2012 Marketing Leadership Online Survey, nine out of 10 marketing leaders told us that social media is fundamentally changing how brands are being built in the 21st century. In fact, they view it as second only to search for brand building. But many are still struggling to determine how to integrate it into their marketing plans. The truth is, while social is a great new tool, it lacks the power to build a brand alone. Marketing leaders such as Coca-Cola and JetBlue recognize this and are integrating social with paid and owned media to build a 21st century brand experience. In my new report, "How Social Media Is Changing Brand Building," I identify three ways social media can help marketers harness the power of social to build their brand by 1) building a relationship to become more trusted; 2) differentiating through an emotional connection to become more remarkable; and 3) nurturing loyal fans to become more essential.
How is social changing your brand building strategy? What challenges are you facing in the social brand building world? Comment here, or join the conversation in our community of marketing leaders.
I've been hopscotching Europe this week, seeing clients and colleagues in London and Istanbul — but my thoughts have been in Los Angeles, where in a couple of weeks I'll be giving a speech called "Taking Social Media From Cool To Critical" at the 2012 Forrester Marketing Leadership Forum.
I chose that topic because it’s a concern I hear almost every day — and sure enough, I heard it from several clients on my travels this week. "We’ve put time and resources into social media marketing, because it seemed like we had to, but . . . it’s just not having much of a business impact." By comparison, four or five years into the era of search marketing, most companies were making a killing from their SEM programs. The same goes for email marketing. But here we are four or five years into the era of social media marketing — and for many companies, social media is still a curiosity, a sideshow that attracts lots of interest but adds little value. It's still cool, but at most firms, it's just not a critical part of the marketing plan.
I think the main reason marketers still struggle to make social pay is simple: They overestimate social media as a marketing tool. Let me be clear: I'm not bashing social's value for marketing; social media can have an enormous impact on the success of your marketing programs, as we’ve seen time and time again. The point I'm making is that it can’t create that success all on its own. You need to use it as merely one tool in your marketing tool kit.
It seems everyone’s obsessed with Facebook’s IPO right now. And while CMOs are beginning to understand the possibilities of Facebook, and other social technologies, to connect and engage with customers, many CIOs remain unclear on the value of Facebook.
A question many business executives ask is this: “What’s the value of having someone like your page?”
On its own, maybe not much. But the true potential lies in the ability to collect insights about the people who like brands, products or services – be it your own or someone else’s.
For example, the chart below shows the percentage of consumers by age group who have “liked” Pepsi or Coca-Cola. These data suggest Coca-Cola is significantly more popular with 17-28 year olds than Pepsi, while Pepsi appears more popular with the 36-70 crowd. I pulled these data points directly from the Facebook likes of each of the brand pages using a free consumer tool from MicroStrategy called Wisdom. Using this tool I can even tell that Coca-Cola fans are likely to also enjoy the odd Oreo cookie and bag of Pringles.
One of the many interesting topics of discussion we get into in our Social Business Strategy workshops is around the social ecosystem. This is the name I have given the collection of business capabilities potentially enhanced by one or more social technologies.
First let me define social technologies. Note I’m using the word “technology” quite deliberately in place of the more common term “social media” because social media is too often associated with consumer-facing technology as deployed in support of marketing. In defining the entire social ecosystem I prefer the more generic “technology”. I define social technology as “any technology that enables one-to-many communications in a public forum (or semi-public if behind a security firewall)”.