Four Lessons On Wearables From LeWeb Paris 2014

James McQuivey

I'm packing to leave Paris and it's a hard town to leave. Not only because I managed to catch a glimpse of a Paris sunset last night from the top of Notre Dame, but because I'm leaving LeWeb Paris 2014 while it's still in full swing. There's no denying LeWeb is one of the most invigorating events I've attended. Highlights in the first two days included a candid discussion on Uber with celebrity venture capitalist Fred Wilson and amazing comments from Web founder Tim Berners-Lee on everything from robots to net neutrality to Europe's "right to be forgottten" laws. Most invigorating for me personally was the day one session on wearables. LeWeb invited me to curate this hour-long track as part of its new format, tackling multiple themes in short bursts over several days. Curation required pulling together experts on the topic which was both simple and difficult. Simple because there are some great ones to choose from, difficult because I would have had 10 people on stage if I could have managed it. But that's where the hard task of curation comes in.

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Brands In China Start Considering Digital Analytics To Avoid Disruption

Gene Cao

Chinese businesses have been in a state of digital transformation for the past two decades. Since the early 1990s, many enterprises owned by national or local governments have been privatized, and many of those realized that they could make information technology their key competency. However, traditional retail and manufacturing brands in China are very fragmented. The country lacks a local version of Wal-Mart or Macy’s — large organizations that dominate specific sectors.

The rise of Internet companies and their new business models is digitally disrupting already struggling traditional brands. Internet companies in China are using their strong capital resources to take center stage in many markets, creating new service delivery models, bringing online experiences offline, and making transactions through online marketplaces instead of in physical stores.

Most of the traditional brands that I spoke with in the course of the research for my most recent report were unable to react properly, as they were using immature digital intelligence to understand online users. But traditional brands have now realized the value of doing business online and intend to apply advanced digital analytics to understand customer behavior across the multitude of digital channels — web, social, and mobile. For instance, Chinese banks are starting to employ digital analytics to understand how people use Internet financing.One of the four largest Chinese banksis accustomed to analyzing transactional data but has limited experience in online user behavior analysis; to offset this, the bank recently announced a plan to implement web analytics tools to understand how customers interact with its website, search engine, and social platforms.

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What Causes Consumers To Keep Using Your App? Three Key App Features Stand Out

Nicole Dvorak

What is the secret recipe for creating an app that users open day after day? We used our Technographics® 360 methodology, which combines data sourced from the same group of individuals via behavioral tracking, online surveys, and our market research online community to answer this frequently asked question.

What did we do?

First, we asked participants questions about a randomly selected app they use, including how they discovered the app and how strongly they agreed with statements regarding specific app attributes, such as whether it was easy to navigate. Next, we took the responses for each participant and merged them with their behavior on that particular app. Finally, we engaged our participants in a qualitative project to expose the reasons behind our results. 

Regression analysis of applications

This powerful approach allowed us to align a single participant’s behavior, personal characteristics, and attitudes to uncover the key attributes that lead to increased app usage. Perhaps not surprisingly, we found that apps generate varying levels of engagement simply due to the type of app they are: Consumers access gaming apps more frequently than they access travel apps, for example. So we quantified and removed the effects of app type and other static characteristics that influence usage. This allowed us to isolate the relationship between users’ opinions of app features and their engagement with that app.

What did we learn?

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Want More Social Marketing Budget? Stop Measuring Social Engagement

Nate Elliott

Every week I get calls from Forrester clients asking how they can measure engagement on Facebook and Twitter. And every time, I tell these marketers the same thing: You must stop measuring social engagement.

I understand that it’s hard to measure social success: Marketers tell us measurement is their single biggest social challenge. And I know that tracking engagement feels like an easy option. But the simple fact is, engagement is not a useful social marketing success metric.

We’ve spoken with scores of social vendors who measure engagement, and none has proven if — or how strongly — engagement correlates to business success metrics like loyalty or sales. Even Facebook itself says engagement doesn’t prove success: In its marketing collateral, Facebook warns that engagement metrics are “not a reliable indicator” of whether social marketing improved your business.

Some say that engagement matters because when people like or share your posts, they reach a broader audience. And your social posts’ reach will go up slightly if people engage. But engagement can’t overcome declining organic reach. Brands’ Facebook reach is already low, and heading lower still. And data from Socialbakers shows that even the Facebook posts that receive the highest level of engagement still get 99% of their reach from paid, not organic, impressions.

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The Plethora Of Sales Enablement Automation: How Do You Stay In Control?

Peter O'Neill

I had great fun presenting our sales enablement (SE) execution landscape to Forrester clients last week in a regular client webinar. The SE execution landscape is an idea partly based on a report we published in September. That report introduced the concept of “the supply chain for successful sales conversations” and categorized about 45 different vendors and service providers in terms of six SE business goals, as shown below. We see these goals as the bridge between marketing automation and sales operations processes. The vendor list was the state of our knowledge when we submitted the report to our publishing team in July. But since then, we’ve become aware of so many more vendors in the space; either they’ve briefed us or we’ve come across them in client discussions. So as of last week, Forrester is tracking a SE landscape numbering some 112 companies. This area of technology is positively exploding!!!

 

 

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The Data Digest: Five Urgent Truths About Wearables

JP Gownder

In 2015, wearables will hit mass market: With Apple’s much-anticipated Apple Watch slated for release early next year, the already hype-heavy conversation will reach new heights. My colleague Anjali Lai wrote a report analyzing the true addressable market of Apple Watch from a quantitative and qualitative data perspective – covered right here on the Data Digest – to interject some strong data-driven analysis into the conversation.

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Traditional Retailers Must Embrace Disruption To Complete Their Transformation

Vanessa Zeng

On this year’s Singles’ Day, Tmall’s transaction volume hit RMB 10 billion ($1.6 billion) in just 38 minutes, continuing eCommerce’s upward trend. In 2013, the total GMV of Tmall and Taobao reached RMB 1.54 trillion ($249 billion)and Alibaba’s rival JD.com achieved a total GMV of RMB125.5 billion ($20.3 billion). In contrast, Beijing Shin Kong Place, China’s top one traditional retailer, had just RMB7.5 billion ($1.2 billion) in total sales revenue in 2013.In 2014, the growth rate of China’s top 100 retail chains has continued to decline and is now at its lowest point in the past four years. The data above indicates that traditional retailers face a cold winter struggling to fight off both the economic downturn and the success of eCommerce. So how can traditional retailers compete against eCommerce players?

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There is a secret to better CX metrics: Journey mapping

Maxie Schmidt-Subramanian

There is a way to better identify and share customer experience (CX) metrics. And it is a tool that your company – like many others may already be using… but not for that purpose. I am talking about journey mapping. Recently I have done more and more workshops for our clients on how to use journey mapping for defining CX metrics so I wanted to put that thinking into a new report for all clients to read.

Why journey mapping? It helps overcome some of the key challenges for CX measurement programs: Only if you understand the end-to-end journey your customers take for accomplishing a goal are you likely to have the right metrics in place to judge CX performance. If you don't understand the journeys, you'll rush to judgment with ill-timed surveys, miss important moments of truth and fail to align operational data with customer perceptions. That means you’ll fail to identify ways to improve critical touchpoints. 

So if you, too, are struggling with CX metrics, my new report “How to use journey mapping to improve CX measurement efforts” is the right read for you. It is very practical because it describes a four-step process for how you can use customer journey mapping to improve your customer experience measurement programs – from mapping the customer journey with metrics in mind to identifying gaps, to defining CX metrics that fill those gaps, to building on journey maps to share CX metrics more effectively.

And please - if you have any thought on the report - let me know what you think.

Innovation Agency Wave: Learn more about the 10 agencies driving innovation

Sarah Sikowitz

I am very excited to announce that the Innovation Agency Wave is now live! 

Marketers need data, technology support, ideas, experience design, and change management — not just channel expertise — in order to differentiate themselves in the age of the customer. To accommodate, agencies are redefining their core competencies to better align with three areas of marketers' demandinnovation around products and business models, integration of channels and customer data, and implementation of enabling technology systems.

This research reminded us that "innovation agency" is a label that Forrester assigned to agencies with specific aptitudes. Most agencies don't have neatly packaged innovation offerings. But those we reviewed do offer strategy, change management, customer experience, and design and development services — capabilities that are core to enabling digital business innovation. Since CMOs may not find a standard blueprint for an innovation agency, this wave provides guidance as you review potential innovation agency partners. 

In addition to the report, please make sure to download the interactive scorecard tool to build your custom wave and gain a more in depth look at each agency.

I’d like to extend a huge thank you to all of the agencies that participated.  The teams that I worked with are all so talented and put in a lot of time and effort, which I appreciate. 

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The Data Digest: Don’t Lose Potential Mobile Moments By Neglecting Information Workers

Christopher Kelley

With evolving bring-your-own-device (BYOD) trends and the prevalence of consumer mobility captured by the Mobile Mind Shift Index, the lines between personal and work mobility have blurred. I see this every day that I take the train to work, watching information workers seamlessly shift from Candy Crush Saga to their work email on their mobile devices.

For years, Forrester has measured consumers’ use of technology in their personal lives and their work through its Consumer and Business Technographics® surveys. This year, we began to address the intersection of these spheres, comparing a worker’s relative mobility at home with their mobility at work. Specifically, we analyzed the extent to which information workers across 10 countries use mobile devices at work and at home, leading to four segments based on their relative mobility in each sphere:

This analysis found that nearly one-third of global information workers fall into two segments: the Mobile-Compelled – high mobility at work but not in their personal life; and the Mobile-Ready – high mobility in their personal life but not at home. This highlights how mobility at home does not automatically translate to mobility at work.

This mobility mismatch has big implications in the age of the customer. For example:

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