Myth-Busting At The Upcoming London Forrester Marketing Leadership Forum

Peter O'Neill

Peter O'Neill here. I’ve just finished the last peer-review of my presentation at the upcoming Forum For Marketing Leaders in London on May 13. All presenters go through a thorough review process before these events where other colleagues check through our outlines, drafts, and slide decks — all to ensure that Forrester delivers a concise and consistent story to the Forum attendees.  The Forum will be all about going beyond the marketing campaign and delivering visible value in context and on an ongoing basis. There were some interesting discussions about our strong opinion about marketing campaigns a few weeks ago during the US version of the Forum in San Francisco and we all look forward to continuing these discussions in London.  

Actually, most of the creative work for my session was done by Lori Wizdo, who presented her version in San Francisco (see here for some comments on that session). We had decided to do some “myth-busting” to help B2B marketers make better decisions about how to structure their lead-to-revenue management (L2RM) process based on their buyer journey research.

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Usage-Based Insurance Onboarding: It's All In The Packaging

Ellen Carney

Alright, I admit it.  I'm not necessarily the most loyal insurance customer.  I like mixing things up to test out different experiences, which means that if you're my insurance company, I'm going to talk about you in my job...a lot.  

Back in 2012 when I was writing the US Secure Auto  Insurance Site Rankings report, I changed my car insurance to Progressive (so underwhelmed was I by their predecessor, I can't remember the name of the insurer, just that I got from my agent).  And I not only changed to Progressive, I also switched from a traditional auto policy to the company's usage-based insurance coverage, SnapShot.  

A few days after signing up, I was surprised to get this box in the mail--note the SnapShot logo on the packaging tape (and trust me that there's a Progressive logo on both ends of the box).  Best of all, there was a compelling call to action on the box:  "Plug In Today!"

                                                                    

And inside the shipping container?  This smaller box, about the size of...the box an engagement ring might come in.  Oh my!  I felt like I was about to go with Flo on a Thelma and Louise-like adventure, assuming that we'd be safer drivers than they were, at least when the movie ended. 

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Make the Business Case: Better Customer Experience Can Deliver More Than $1 Billion In Revenue Growth

Maxie Schmidt-Subramanian

In the age of the customer, you need to be obsessed with your customers. And that obsession can pay off big time — as we have shown over and over again: Years of Forrester data confirm the strong relationship between the quality of a firm's customer experience (CX) and customer loyalty.

And this means revenue growth! Find out how exactly we calculate the revenue upside in the report "The Business Impact Of Customer Experience, 2014." But here are the cliff notes: We built a model that shows how improving customer experience scores from below to above average affects loyalty, which in turn affects revenue in three categories:

  • Repurchase: incremental purchases from existing customers in the same year.
  • Switching: revenue saved by lower churn.
  • Recommendation: new sales driven by word of mouth.

When we looked at the data, this year, we found new and important developments that affect the revenue upside:

  1. “Ok” is the new “poor.” Converging Customer Experience Index (CXi) scores mean that companies cannot rely on average customer experience to prevent churn and get people to buy more.
  2. People talk. Consumers recommend companies more if they had a good experience, and they talk to more people about it — a multiplier in the effect of CX on word of mouth.
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The Age Of The Customer Drives North American Insurers To Take Five Customer Actions In 2014

Ellen Carney

Once upon a time, insurers sat in the power seat when it came to their interactions with policyholders.  The insurers understood the magic behind how insurance was sold, how premiums were calculated, and how claims were adjudicated. Those days are gone. In the Age Of The Customer, consumers are changing the rules and who wield the power. Thanks to all things digital, consumers have shifted from being passive sideliners and are willing — and able — to play more active and demanding roles across the insurance business. That means that digital must now be a core underpinning of an insurer’s customer experience philosophy, not an endpoint.

Just what are the factors propelling North American insurer agendas this year? For starters, it’s about:

  • Booming growth in revenues and profits. 2013 was a very good year for most North American insurers --the best since the financial crisis. Many are sitting on hefty policyholder surpluses and capital.
  • The fallout from HealthCare.gov. Balancing political winds with project management reality heaped more pressure on already stressed health plans, thanks to shifting deadlines, relaxed employer mandates, and zombie health plans. And as a result, trust across the broad healthcare ecosystem was undermined.
  • The risk of emerging insurers to meet the needs of digitally empowered consumers. Consumers are getting being trained to expect even more from their digital interactions. New insurers are coming to market offering new digital experiences that simplify, personalize, empower, and reassure customers.
  • Extreme weather. US and Canadian insurers have shifted to a posture of adaptation, and are looking to arm policyholders with new tools to better protect them from natural hazard risks.
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Design A Best-In-Class Mobile Experience

Deanna Laufer

A lot of people have been talking about Facebook’s new Nearby Friends feature for their mobile app, which gives users the ability to see which friends are nearby. But less discussed, and perhaps just as significant, is another change — to a more contextually-relevant Facebook profile.

In the past, when you checked out other users’ profiles, you would see the same static information including their profile photo and links to their friends and “about” pages. There were two problems with this. First, the information is rarely updated, so it becomes stale. Second, if you don’t know the person, it takes a bit of digging through their pages to find out if you know them or have anything in common.

The Facebook iPhone app’s recent update addresses these concerns by taking a contextual approach. Specifically, it presents more personalized and dynamic information, such as whether you and this person share any mutual friends, whether you happen to live in the same city, and what the friend has been up to recently. The app also prioritizes this information, so it’s one of the first things you see after you click on a user’s profile.

In fact, we’ve seen this trend in mobile apps — the best apps are moving away from static web-like experiences and are delivering more personal, relevant content, fast. In my report, "The Best And Worst Of Mobile User Experience," I found that leading mobile user experiences share common attributes that separate them from the pack. These leading experiences:

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Campaign Marketing Is Background Music Consumers Don't Want

Anthony Mullen

Campaign marketing is increasingly seen as background music and 'tuned out'. No surprise really that in a world where all brands push 'play' without consulting consumers that the outcome is a cacophony. It's one that consumers increasingly want to tune out, and today they have the tools to do so. From their cultivation of banner blindness , use of browser plugins like Adblock, through to enlisting more-aggressive privacy settings and skipping adverts at 8x speed. They simply don't want your message pushed at them and are taking steps to control the signal-to-noise ratio of useful vs. irrelevant data. Marketing must respond with a new quality in the relationship or risk being ignored. 

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European Insurers Wake Up To Digital Disruption

Oliwia Berdak

Calculating and avoiding risk is at the core of insurance. So what are we to make of the fact that insurance executives top our list of professionals who think that the digital disruption of their industry is imminent?[i] We should take it seriously, seeing it as admirable clairvoyance rather than blind fear. Unlike many other industries, at least insurers know the risks they’re facing. But will they act upon this vision? They might have no other choice.

Digital disruption has arrived in insurance. In our new report on trends in European digital insurance, we show that years of slow growth, low consumer trust, and heavy regulation have weakened incumbents. Meanwhile, customer expectations have been rising, fuelling the appetites of startups and companies not traditionally associated with insurance, such as digital platforms, car manufacturers, utility companies, telcos, and sensor and wearable manufacturers, whose utility and access to consumer data has placed them dangerously close to the core of insurance.

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Q&A With Kristof Fahy, Chief Marketing Officer, William Hill PLC

Luca Paderni

William Hill PLC, one of the world's leading betting and gaming companies and trusted UK high-street brand, has recently undergone a significant strategy review. The strategic changes came in response to the fact that more and more of its customers want to engage with the company via digital and increasingly also via mobile platforms — which at Forrester we refer to as the mobile mind shift

In this new business context, William Hill now focuses on three main initiatives for expansion: 1) develop a wider product range, 2) encourage greater multichannel usage, and 3) increase internationalisation. To better understand how it is tackling these business priorities and, in particular, how the firm is driving multichannel usage by delivering visible value (and in context), we invited Kristof Fahy, William Hill’s Chief Marketing Officer to deliver a keynote presentation at Forrester's Forum For Marketing Leaders in London coming up on May 13-14.

In the run-up to the Forum, Kristof was kind enough to answer a few questions to provide a sneak preview to the content from his speech. I hope you enjoy his responses as much as I did, and I look forward to seeing many of you in London!

Q. You’ve led marketing efforts at a wide variety of companies, from big and established brands like Orange and BlackBerry to challengers like Yahoo. Are there key things that all brands—regardless of size and industry—should be doing today to stay relevant and top of mind in our hyper-connected, multi-channel world?

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Mobile & Social Are Two Sides Of The Same Coin

Thomas Husson

The vast majority of Facebook and Twitter usage is coming from mobile devices, and both companies generate a significant proportion of their revenues via mobile ads (53% for Facebook and more than 70% for Twitter end Q4 2013).

  • Facebook is splitting into a collection of apps (Instagram, WhatsApp, Messenger, Paper, etc…) and likely to announce a mobile ad network at its F8 developer conference in San Francisco in a couple of days. While failing brand marketers, according to my colleague Nate Elliott, Facebook is increasingly powerful at driving app installs for gaming companies and performance-based marketers who have a clear mobile app business model.
  • That’s why Twitter introduced mobile app install ads a couple of days ago and leveraged its MoPub acquisition by integrating ad-buying capabilities. Twitter is less and less about micro-blogging and more and more about traditional media – the place to be for real-time information consumption.
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Future-Proof Your Customer Insights Practice with Adaptive Intelligence

Fatemeh Khatibloo

We've been talking about Adaptive Intelligence (AI) for a while now. As a refresher, AI is is the real-time, multidirectional sharing of data to derive contextually appropriate, authoritative knowledge that helps maximize business value.  

Increasingly in inquiries, workshops, FLB sessions, and advisories, we hear from our customer insights (CI) clients that developing the capabilities required for adaptive intelligence would actually help them solve a lot of other problems, too. For example:

  • A systematic data innovation approach encourages knowledge sharing throughout the organization, reduces data acquisition redundancies, and brings energy and creativity to the CI practice.
  • A good handle on data origin kickstarts your marketing organization's big data process by providing a well-audited foundation to build upon.
  • Better data governance and data controls improve your privacy and security practices by ensuring cross-functional adoption of the same set of standards and processes.
  • Better data structure puts more data in the hands of analysts and decision-makers, in the moment and within the systems of need (eg, campaign management tools, content management systems, customer service portals, and more).
  • More data interoperability enables channel-agnostic customer recognition, and the ability to ingest novel forms of data -- like preference, wearables data, and many more -- that can vastly improve your ability to deliver great customer experiences.
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