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Before joining Forrester, I ran my own consulting firm. No matter how ridiculous the problem or how complicated the solution, when a client would ask if I could help, I would say yes. Some people might say I was helpful, but I was in an overconfidence trap. There was always this voice in the back of my mind that would say, “How hard could it be?” Think of the havoc that kind of trap can have on a risk management program. If any part of the risk program is qualitative, and you are an overconfident person, your risk assessments will be skewed. If you are in an overconfidence trap, force yourself to estimate the extremes and imagine the scenarios where those extremes can happen. This will help you understand when you are being overconfident and allow you to find the happy medium.
Have you ever padded the budget of a project “just to be safe”? I hate to tell you this, but you are in the prudence trap. By padding the project budget, you are anticipating an unknown. Many other managers in your company may be using the same “strategy.” But the next time you do a project like this, you will pad the budget again, because the inherent uncertainty is still there. The easiest way to keep your risk management program out of the prudence trap is to never adjust your risk assessments to be “on the safe side,” There is nothing safe about using a psychological trap to predict risk.
I recently spoke with metaio, an augmented reality solutions provider based in Munich, Germany. The company develops both enterprise- and consumer-oriented augmented reality solutions for smartphones, tablets, and -- increasingly -- for Google Glass.
Although metaio creates augmented reality applications for a wide variety of usage scenarios – enterprise tools to assist assembly lines, factory floors, design studios, and consumer shopping experiences for IKEA and Macy’s – I’m particularly struck by the potential of augmented reality for use by sales reps.
SCENARIO 1: AUGMENTED REALITY AS A SALES ENABLEMENT TOOL
At their best, augmented reality tablet applications can reshape the entire sales process. Metaio created an app for Mitsubishi Electric Cooling and Heating to create a new interaction model between salesperson and homeowner. Prospective buyers considering Mitsubishi’s mini-split, ductless central air systems must install wall-mounted units in various rooms of their home. “The number one question prospective buyers ask is, ‘what is that unit going to look like on my wall’?” said Sudhanshu Kapoor, Business Development Manager at metaio.
Using the augmented reality app with an Apple iPad, homeowners receive a vivid representation of what the unit will look like, as this video demonstrates.
Results: (1) A richer customer experience during the sales cycle. (2) Allayed fears among buyers who worry what the units will look like. (3) A faster sales cycle, performed on site. (4) Higher close rates and revenues. (5) Lower printing costs for sales collateral.
According to Forrester’s Forrsights Combined Budgets and Business Decision-Makers Survey, Q4 2012, 61% of Asia Pacific (AP) organizations are currently using or actively planning to implement software-as-a-service (SaaS) for collaboration, which puts AP adoption ahead of both North America and Europe (see the figure below). I believe that the increased rate of adoption of cloud-based collaboration services is mainly due to three key factors:
The consumerization of IT, changing social behaviors, and AP end user communication preferences are compelling organizations to consider deploying enterprise collaboration solutions. To this end, cloud collaboration services are gaining traction among organizations seeking to extend collaboration capabilities to their employees, while also minimizing the costs associated with both hardware and operational expenditures.
The easy provisioning and simplified maintenance of cloud-based collaboration services allows organizations to quickly operationalize new sites and individual accounts with minimal IT effort.
The strong focus from service providers like Orange Business Services and Verizon Business in building and strengthening their regional capabilities in cloud collaboration services is leading to an abundance of service options for customers that are competitively priced and packaged to align with their requirements.
The untimely demise of Nirvanix has left over 1,000 customers scrambling to migrate data off of the cloud storage service provider and with a short two-week timeframe to save their data. While providers have gone to great lengths to make data import into the cloud easy by eliminating data ingest fees, large data sets in the cloud are difficult to retrieve or migrate to a new target. The recent example with Nirvanix highlights why customers should also consider exit and migration strategies as they formulate their cloud storage deployments.
One of the most significant challenges in cloud storage is related to how difficult it is to move large amounts of data from a cloud. While bandwidth has increased significantly over the years, even over large network links it could take days or even weeks to retrieve terabytes or petabytes of data from a cloud. For example, on a 1 Gbps link, it would take close to 13 days to retrieve 150 TB of data from a cloud storage service over a WAN link.
To minimize risks in cloud storage deployments and facilitate a graceful exit strategy (just in case things go sour), I recommend customers take the following steps:
Good customer service is the result of the right attention to strategy, business processes, technology, and people management. This series of seven blog posts focuses on customer service technology and explains the what, why, how, and when technology questions.
Part 1 reviewed the customer service technology ecosystem.
Part 2 reviewed the challenges caused by the complexity of this technology ecosystem.
Part 3 reviewed the tactical outcomes of poor customer service.
Let’s now focus on how the customer service ecosystem is changing.
The customer service vendor landscape is consolidating. Nice Systems, Oracle, salesforce.com, and SAP are just a few examples of leading customer service solution vendors that have aggressively acquired other vendors in order to support consistent, effortless multichannel customer service experiences. For example, in 2011, Oracle acquired InQuira, a leading knowledge management solution. In 2012, it acquired RightNow Technologies, a cloud CRM vendor that emphasizes customer experience and contact center technology. RightNow had gone through its own series of acquisitions prior to this, acquiring Q-Go, a natural-language search vendor, and HiveLive, a social media monitoring vendor. These acquisitions are happening because customer service leaders want a simpler, single-vendor technology solution to manage, instead of having to buy, integrate, and manage disparate systems from a number of vendors.
Personal communications services, which we define as communication and collaboration services that merge private, social and business communication in one personal view, are becoming part of the work environment. Services like Skype or Google Apps allow users to speak and send messages across multiple communications services to communicate and collaborate just as they would as consumers within a corporate context. Empowered employees expect to use these collaboration channels not just for personal use but also for work.
Although Skype has been around for more than decade, the market for personal communications services in a business context is still very much evolving. The personal communication experience is complex and challenging, as individuals wrestle with multiple communications services to manage an increasingly diverse set of communication and collaboration technologies.
When my teenage son is interested in purchasing a mobile phone, some PC equipment, or a games console, he will typically spend weeks gathering the necessary information to arrive at a well-informed decision. He once told me that he feels this is necessary to make the best use of his savings — a trait that I do not always observe banks around the world exhibiting.
Recently I had a phone call with a few people from the business side of a medium-size bank somewhere in the world. Their challenge? They wanted to use the best method to find the mobile banking application most suited to their bank. Their real challenge? They had no time to make a deeper assessment of their individual business and technology situation and only wanted to get proof that their approach would be the right one. They wanted a clear recommendation within a few days.
Unfortunately, it’s not that easy. When I know nothing about a bank’s business environment, its supporting application landscape, and its underlying technology, I am very reluctant to offer more than a long list of business applications, regardless of whether the topic at hand is mobile or cross-channel solutions, core banking, or something else. This is in line with a research report about best practices for banking platform transformation that Forrester published some time ago. At the time, we identified a few key reasons common to major banking platform transformation failures. One of those reasons: ill-designed shortcuts.
Infrastructure professionals are now all too familiar with the dynamics of bring-your-own (BYO) technology and devices: Their workers walk into the office with consumer technology all the time. This post is one in a continuing series on how consumer retail stores act as de facto extensions of the IT department in today's BYO world.
The rumors have abounded for more than six months: unconfirmed whispers that Google will open up its own major chain of consumer retail stores. The company has dipped its toes into the retail waters with Chromebook-focused kiosks in the U.S. and the U.K. over the past few years, with installations inside larger retailers like Best Buy, Dixons, and Currys.
A Google Kiosk in the U.K.: Not Yet Reaching Revolutionary Heights
Yet while kiosks – particularly those staffed by Google employees – offer some value in promoting Google’s products and services, the company has a much greater opportunity for late 2013 into 2014. Kiosks aren't going to foment a retail revolution. To quote the popular Star Wars geek meme, "these aren't the droids you're looking for."
No, it's time for Google to think big – to go gangbusters. To do something nobody has done as well previously. Why is this imperative?
Although often overlooked, site search plays a vital role in your digital customer experience strategy. It helps improve customer self-service, increase sales conversion rates, and increase page views and site traffic. Accordingly, organizations are revisiting their site search technology decisions. They need site search tools that deliver more personal experiences to customers in ways including contextual results pages, promotions, recommendations, and dynamic browsing and navigation structures.
Our recent site search market overview examined 14 site search solutions, including commercial solutions from Adobe Systems, Amazon Web Services (AWS), Apptus Technologies, Attivio, Coveo Solutions, EasyAsk, Google, HP Autonomy, Mindbreeze, Nextopia, Oracle, SDL, and SLI Systems. We also looked at the open source solution Lucene/Solr. Some of our biggest findings were that:
Search is more than processing queries. As site search technology has matured, vendors have started to branch out beyond core query processing to support overall trends like browsing and navigation, content presentation, customer self-service, product recommendation, merchandising, and local search.
The search vendor market is consolidating. As search technology has matured and moved into adjacent areas, the vendor search landscape has matured and consolidated, with many independent vendors getting acquired like Fredhopper (acquired by SDL), Omniture (Adobe), and Endeca (acquired by Oracle). Other vendors have shifted focus; IBM has focused the Vivisimo product, for example, more on big data concerns. Despite this, some stalwarts and independent vendors remain on the market (e.g. Google, Coveo, Attivio).
To succeed in the age of the customer, IT leaders that that support “front-office” business processes cannot afford failed technology initiatives. In recent blog posts, I have been sharing the results of a recent Forrester survey of practioners to define and quantify the best practices for CRM success.
Working in partnership with CustomerThink, Forrester collected opinions from over 600 individuals who had been involved in a CRM technology project as a business professional in sales, marketing, customer service, or IT.
A few weeks ago, I reported that our data show that CRM technology deployments require a balanced and multifaceted approach that addresses four critical fundamentals: process, people, strategy, and technology.
More than two-fifths (42%) stated that their problems with CRM were the result of “people” issues such as slow user adoption, inadequate attention paid to change management and training, and difficulties in aligning the organizational culture with new ways of working. These can become key roadblocks to the effective use of CRM technology solutions to achieve better business outcomes.
More the specifically, the top people challenges to implementing a CRM solution include cultural resistance to adopting new ways of working (45%), difficulties in achieving user adoption (44%), insufficient planning and attention given to change management (42%), and inadequate leadership (38%).