Citi And Royal Bank Of Canada Earn The Top Spots In Our 2012 Bank Secure Website Rankings

Peter Wannemacher

Late last year, Forrester reviewed and ranked the secure websites of the 12 largest retail banks in the US and Canada. The full reports can be found here (US) and here (Canada). Overall, banks' secure websites earned an average score of 70 points (out of 100), demonstrating a level of quality that meets customers expectations but also leaves room for improvements. Here are some of the highlights:

  • Citi moves to the top of the US rankings with a website overhaul. In July 2011, Citi launched its first tablet banking app. Based in part on insights gleaned from that process, the bank rolled out a newly redesigned secure website, followed by additional digital features and functionality for online bankers, mobile bankers, and tablet bankers. As a result, Citi moved from second-to-last in our ranking to the top spot this year.
  • RBC pulls off a historic sixth-straight win among Canadian banks' secure sites. For a record sixth year, RBC earned the top spot in our Canadian rankings. Two factors drive RBC’s digital banking success: First, the bank's secure website offers a wide array of secure site features, including eBills, tax management tools, and more; second, the bank continues to innovate, this year adding customizable money management dashboards and new mobile features such as foreign exchange and mortgage payment calculators on its iPhone app.
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2013's Must Read On Mobile Application Development

Julie Ask

How many of you are still outsourcing your mobile application development because your internal technology "just doesn't get it"? I interviewed 25 eBusiness professionals in 2012 about their approach to mobile and how their challenges were evolving. (The first piece is due out soon, with more to follow quickly.) A lot of eBusiness professionals think their success hinges on "owning" the mobile development team directly (internal) or through an agency (external). Their worst-case scenario is funding the mobile development even if the team doesn't roll directly up to them. Reasons offered include:

"They move too slowly."

"They are in India. How are we seriously supposed to be agile with the distance?"

"Mobile isn't a high enough priority." 

"Their idea of an excellent customer experience and ours is like 'Men Are From Mars And Women Are From Venus' - we're not even on the same planet, let alone speaking the same language." 

I talk to our eBusiness clients a lot about "context" and how it will define the future of mobile. Consumers will become very task-oriented on mobile devices and they will expect their mobile phone to personalize or make the real world richer and more relevant to them. There are already great examples in the travel industry, with retail, banking, insurance, healthcare, and many other industries beginning to push the envelope. What has held them back have been development resources and an IT team that can support their vision. 

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In Canada, Mobile Initiatives Show A Positive Impact On ROI

Julie Ask

Last week, we had the opportunity to have a conversation with one of the world’s, and certainly Canada’s, largest premier coalition loyalty programs, the AIR MILES Reward Program. It has penetrated two-thirds of Canadian households, with 10 million active Collector accounts in Canada. AIR MILES is also deeply entrenched in the mobile landscape, having launched the first coalition loyalty program app of its kind in Canada for mobile and tablet, which has since had more than 800,000 downloads. Here are a few nuggets from what we learned about Canada’s increasingly sophisticated mobile landscape:

  • Immediacy reigns. The most used feature in the application is real-time updates. Mobile phone users pull out their phone throughout the day to access real-time and geo-specific updates on deals and offers at nearby participating retailers. Activity shows that the habit influences the consumer’s decision about where to shop and drives in-store sales.   
  • iOS users are the most active by far. Compared to Android and RIM users, iOS users are by far the most active on their mobile phones. More than 80% of the downloads are from an iPhone with that group being most active.
  • Mobile engagement drives ROI. When it comes to mobile,any engagement level is positive. This loyalty program found that when users engage with the mobile app, their in-store spend increases anywhere between 5% and 21%.
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Categories:

An NRF Retrospective

Peter Sheldon

As the annual retail pilgrimage to the Jacob Javits Center draws to a close, I started wondering if anything has changed since last year. As I met with Forrester’s retail clients during the show, it was clear that this is no longer just a brick-and-mortar show. The retailers I met with had all sent a delegation of cross-functional executives, including the CIO, COO, CMO, SVP of eCommerce, and head of store operations. These leaders are no longer working in organizational silos: they know that they need to find technology solutions that meet the needs of today’s digitally connected customer, not the needs of their legacy channel-centric business units. I was impressed at the way these retailers are embracing and executing on agile commerce.

On the expo floor, the same theme was abundantly clear. NRF has evolved to become a retail commerce show, not just a retail technology show. Joining the incumbent store systems and POS vendors were all the enterprise eCommerce solution providers, order management vendors, system integration firms, and digital agencies. Whereas last year was all about mobile, with hastily developed prototypes and lots of vaporware, this year the expo floor was a place more grounded in reality. Strategic relationships were abundant, with vendors realizing that customers are demanding integrated solution suites that go far beyond the scope of their own product portfolio. As I did my rounds of expo floor booth visits, executive briefings, and product demos, here’s what I found:

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What does the arrival of the Chief Digital Officer mean to the eBusiness team?

Martin Gill

I’ve been thinking, talking to clients, and reading a lot recently about the rise of the Chief Digital Officer.

Most of my recent research has been concerning the shift we are seeing in leading organizations in response to their increasingly digitally aware consumers. Much of this has been described in our agile commerce research, and it goes something like this...

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The Art and Science of Building a World-Class B2B eCommerce Business

Andy Hoar

B2B eCommerce executives today don’t lack for data. What they’re screaming for is insight. With our new playbooks framework, busy executives can go to one place to dip their toes in a subject matter, or fully immerse themselves for deeper insight. Either way, they can move up to speed quickly and smartly about a specific subject. 

Today I’m pleased to announce that Forrester is officially releasing its very first playbook dedicated to B2B eCommerce. Inside you’ll find key insights and critical information specific to the rapidly-emerging B2B eCommerce space. This playbook is designed to help you:

  • Discover the opportunity. Study the fertile landscape that is B2B eCommerce and learn about what Forrester defines as a customer-facing front-end B2B eCommerce market. One that will reach $559 billion by the end of 2013. See how high-performers have developed a compelling vision for the space and a clear business case to prove an always critical return on investment (both documents to be released in the coming months). 
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So You Want To Be A Chief Digital Officer?

Carrie Johnson

During my sullen teenage years my father invented a nonsensical, rhetorical question to proffer when conversation ran dry. During particularly quiet moments he’d ask, “So you want to be a movie star?” No, I did not want to be a movie star, but I’d play along and invent similarly nonsensical answers: “Yes, but my agent won’t return my calls,” or “Yes, but Molly Ringwald keeps getting all of my parts” and so on. He still asks to this day and so in this New Year I will ask all of you a related but non-rhetorical question: So you want to be a Chief Digital Officer (CDO)?

Many Forrester analysts and others have taken note of the rise of and need for this position to oversee digital business. Indeed, the rapid and colossal impact of digital disruption is overhauling products, inverting category economics, and redefining customer relationships, requiring new focus and leadership. Where will these CDOs come from? Firms will promote Chief Digital Officers (CDOs) from business units and departments that face the most disruption. In firms that sell products and services directly to customers, we believe that eBusiness and channel strategy professionals are well positioned for a Darwinian rise into the CDO ranks. It’s already happening in firms like Finish Line, Dollar Thrifty Automotive, and MetLife. Many executives in your company see themselves on a similar path — interactive marketers, enterprise architects, and even some CIOs. eBusiness and Channel Strategy Professionals looking to advance their careers must:

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The Digital Banking Strategist’s Wish List

Peter Wannemacher

Whether you’ve been naughty or nice this year, you probably have a wishlist for your business. We thought it would be fun and interesting to find out what some of your wishes are, so the Digital Banking Strategy team at Forrester reached out to some of our eBusiness clients at banks and asked them “What one ‘wish’ do you have for your team’s digital banking efforts or strategy in 2013?”

Here are some of the answers we got back:

  1. “We wish we could transform every branch and call center employee into an advocate for marketing and educating customers on our digital capabilities.”
  2. “I wish that our execs would understand how understaffed we are.”
  3. “I wish we had better live help for our digital banking customers.”
  4. “I wish I knew which area of mobile payments to focus on and what is going to ‘shake out’ and actually ‘stick,’ so to speak.”
  5. “We wish for a digitalized branch pilot that focuses on advice and guidance.”
  6. “We wish all of our customers – including the most skittish and skeptical – would try out our digital banking capabilities (online, mobile, and tablet)… and those who already use them would do so even more regularly.”
  7. “I wish I could spend 3 hours with our CMO – and have his full attention – to show him how much impact our online and mobile banking efforts have.”
  8. “I wish we could sort through the clutter of mobile wallet vendors and offerings to know which will actually pan out.”
  9. “I wish I could snap my fingers and have great secure site search and intelligent cross-selling on our secure site.”
  10. “a pink pony.”
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The Globalization of eCommerce in 2013

Zia Daniell Wigder

In 2012, online retailers continued to expand into new geographic areas, with many eyeing eCommerce markets beyond those of North America and Europe. Local partnerships and adaptations were key: In China, Neiman Marcus, Macy’s, and eBay all invested in or partnered with local players to expand their footprint in the market. In India, Amazon launched with Junglee, an online shopping service adapted to comply with foreign direct investment restrictions – in Brazil, the company launched with e-books.

The next year will see eCommerce organizations continue their global initiatives. In 2013, we expect to see the following trends:

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Using Mobile Phones To Augment Our Reality

Julie Ask

I was standing out in Union Square in San Francisco a couple of weeks ago. It brought back memories of my "crazy lady in Macy's" journey. This time, I was standing on the sidewalk in front of Forever 21. Capturing the looks of those passing by watching me use my phone to look at the shop window could have been more interesting than what I was capturing on my screen. I give marketers and retailers credit for pushing the envelope and experimenting with mobile technology. Unfortunately, it seems like we are not a LOT further along than we were a year ago. Some combination of the CPUs, GPUs, and networks cannot keep up with the tracking to overlay much more than 2D images. The experiences are triggered from a narrow band or library of symbols, graphics, and pictures. 

Retailers shouldn't be discouraged from using AR; AR is a very good tool to facilitate the discovery and consumption of simple content. 

I also believe that AR is well suited for entertainment and amusement - a good way to engage with the consumer base and offer an enhanced experience. 

Check out the muppets Band-Aids. 

Also check out the Zappar t-shirts being sold; the cost of the service is low, with Zappar sharing in product revenue. Their time-to-market is short in terms of preparing the content. Their app is already in the app store - altogether, very low barriers to entry to use AR with your products. 

 

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