Social marketing is reaching maturity. It is moving past the awkward adolescent stage and is trying to become a responsible adult. But similar to similar to those awkward adolescent years, a social marketing program can take one step forward and one step back. Marketing leaders tell us that developing their social marketing capabilities is frustrating because they make progress in some areas and fall short on some others. And even best-in-class social marketing programs are not immune to development challenges. For example, an award-winning social marketing initiative may regress because the social marketing team fails to get more resources to grow their program(s) and/or their customers' social behaviors are changing. This is why you must assess your social marketing capabilities on a regular basis and make it part of your planning process. As soon as you become complacent, you lose your edge.
A new pneumonia virus first infected a few people in China in November 2002. A scant seven months later, the virus known as SARS had infected more than 8,000 people in 26 countries and caused 774 deaths. The international medical community mobilized: Within one short month, it discovered the virus that caused SARS, completed its genetic sequencing, outlined its modes of transmission, and communicated guidance for managing the outbreak.
How did this happen so fast? The power of collaboration. A network of 11 laboratories in nine countries came together and collaborated to identify the cause of SARS and how best to combat it. They shared research in near real time, empowering each lab to build on the work of the others. Compare the success of this collaborative effort to the three years it took to discover that HIV led to AIDS as well as the slow movement to solve our current Ebola crisis. Clearly, collaboration when mobilized can have a huge, positive impact on the world in which we live, work, and play.
Now, just because CMOs and CIOs are not curing world hunger or an infectious disease, that does not mean they can choose to ignore the power of collaboration. In fact, as CMOs and CIOs, you too need to be collaboration superstars in order to prosper in the age of the customer.
In our new report, Want To Improve Your Customer Experience? Turn To The Cloud, we examine how cloud services can help customer experience professionals drive flexibility and responsiveness into their customer experience ecosystems. At the heart of this report is our read of cloud services' fundamental value:
On November 5, Dell announced new data and analytics services at its annual Dell World customer event. Having integrated the analytics products it acquired — such as Kitenga (from Quest), Boomi, and StatSoft — Dell is now trying to build big data analytics capabilities based on a big data platform, visualization, and advanced analytics. These analytics technologies are appealing to technology management teams in end user organizations, but they may not meet the expectations of lines of business, especially for marketers facing increasing and rapidly changing demand for data and analytics.
As part of its effort to enhance its customer analytics offerings, Dell hired new leaders with marketing experience for its analytics business, such as its new GM of advanced analytics for marketing. And the company has started to move analytics offerings into the marketing arena:
Social media analytics is extending to the cloud. Dell hosts its social media analytics products on the Microsoft Azure platform and has started offering social listening products powered by Radian6. The cloud platform helps Dell serve a wider variety of client companies, from large organizations like the American Red Cross to small and medium-size businesses. The vendor is helping marketers optimize their customer segmentation, but it needs to do more to help marketers better recognize and engage with customers.
Master data management services are strongly integrated but are weak on analytics. Dell consolidates data (such as transactional, CRM, and supplier data) from disparate sources into a central repository and distributes it downstream. However, its customer data analytics capabilities are poor and make it difficult to evaluate, for example, average customer lifetime value.
Forrester recently published its 2015 Predictions for Asia Pacific. I wanted to highlight some specific trends around customer insights (CI) and big data, two very hot topics for many AP-based organizations.
We strongly believe that success for many organizations hinges on your ability to close the gap between available data and actionable insight. Marketing is taking the lead here, as CI pros seek to use data to fuel customer engagement improvements. Hence 2015 will be a year of increased fragmentation as reliance on analytics spreads across organizations.
What will this mean for you? More cloud-based and mobile analytics, more demand for interactive and responsive analytics, and more use of specialist and niche BI and analytics service providers. Given this backdrop, Forrester believes that:
Analytics spending will increase by at least 10% across the region. Yes analytics spending will increase, but less of it will be visible in the CIO's budget. Marketing and other business departments will drive analytics investments to address specific challenges and opportunities. The technology management (TM) organization will have little control over the implementation and deployment of niche and specialist BI and analytics services.
Being asked to pitch for a new piece of business strikes both excitement and fear in the hearts of many agency folk. When I started research for my latest report, The Fit Test For Strong Agency Relationships, there was no shortage of people who wanted to weigh in on how to make the process better for both CMOs and agencies.
After many interesting and spirited conversations, I settled on the four things CMOs should screen for when selecting an agency to help drive their business forward in an increasingly competitive and real-time environment.
Check out my report (subscription required) for a how to guide to screen for:
Vision: Does they agency’s vision for the future of consumer behavior, technology and marketing align with yours?
Experience: Can the agency provide a fresh perspective to your acute business challenges?
Passion: What is the agency doing to create a culture where its employees are passionate about coming to work?
Process: Will the agency be able to enact change across your organization?
If you are interested in discussing your next agency search or how to get the most from your current agency relationships, please schedule an inquiry with me.
The in-store shopping experience is increasingly being transformed into a digitally enhanced experience for both the customer and retailer. Technologies such as beacons, retail store analytics, and store fulfillment programs are rapidly changing the definition of how a retail store operates and engages with customers. While 68% of customers use a mobile device while in a store, retailers are just beginning to take an active role in that in-store digital experience.
Forrester believes that, in the future, retail stores that drive convenience, service, and relevant personalized experiences through the use of digital store technology will succeed. Why? Because today. customers show an affinity for digital store technology. In fact, 66% of luxury apparel customers are more likely to shop with a digitally-enabled associate. Those retailers who wait on the sidelines are at risk of maintaining the status quo and may only grow marginally.
In casting an eye forward, we predicted seven events that would change the insurance landscape in 2015. A major force informing all seven predictions is the fact that smart insurers are recognizing that in the need to generate more good ideas faster, they have to radically change how they develop and execute new thinking. That means that insurers need to short cut the industry’s traditional “we’ll build and control” culture and instead go into the market, spot a hot business technology start-up that brings a lot of what’s needed to create a minimum viable product, and partner with them. And the smartest of the smart insurers are employing two unique industry forces—a very regular flow of premiums and the dynamics of equity markets— to get even closer to the source of new ideas: By investing in them. In 2015, we’ll see more insurance venture capital startups form in the wake of similar VC business launches from insurers like American Family, AXA, MassMutual, and Transamerica.
Apologies to those purists who recognize this post’s title as a misquote of Mark Twain. In this case I’m not referring to myself, Samuel Langhorne Clemens, or indeed any human being, so I’ve gone with the more popular expression. Instead, I’m talking about campaigns – you know, those marketing tactics declared dead by many, but which brands continue to leverage for cross-channel communications. Back in February, Forrester’s Tracy Stokes used a similar analogy in her excellent post “Digital Marketing is Dead; Long Live Post-Digital Marketing: What It Means for CMOs.”
I’m resurrecting the theme because campaign management is alive and well. That being said, Customer Insights (CI) professionals now approach campaigns much differently than in the past. Smart marketers know they must engage their customers with contextually relevant content that sparks an interaction cycle and provides utility while creating a value exchange. Orchestrated appropriately, campaign management can be a key enabler for post-digital marketing.
After years of pushing brands’ reach lower with one hand (and opening marketers’ wallets with the other) Facebook has finally announced the end of organic social marketing on its site.
In a Friday night blog post the social giant warned brands that “Beginning in January 2015, people will see less of this type of content [promotional page posts] in their News Feeds,” and admitted that brands that post promotional content “will see a significant decrease in distribution.”