September of Sapphire: How The New Chase Credit Card Became An Overnight Sensation

Dipanjan Chatterjee

Ben Schlappig doesn’t have a home. He lives on planes and in hotel rooms. And he’s a big reason why Chase’s new credit card has generated unprecedented hysteria.

The credit card business is not where you go to get a brand fix. Most of the brands in this category tread water in the sea of sameness, inspiring little passion and much aggravation by inundating mailboxes with junk mail. And then there's the new Chase Sapphire Reserve:

  • The card was so wildly popular that, upon launch, Chase ran through 12 months of metal stock in three weeks.
  • Unboxing videos popped up all over YouTube, clocking tens of thousands of views (yes you read that right, the nail-biting action of a credit card reveal).  
  • Chase reported an unexpectedly large number of applications from millennials, a group that so far has been generally indifferent about card brands.
  • Bloomberg Business Week put the new Chase Sapphire Reserve on its cover.

Here’s why this should have never happened:

  • As an extension of the existing Sapphire franchise, there was a fairly docile product extension
  • At a $450 annual fee, it severely limited relevance in a category awash with no-fee cards
  • The card sweetened, but did not fundamentally alter the basic formula of perks and points. Nothing earth-shatteringly innovative here.
  • Advertising and promotion leading up to the launch? Zero.
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Showrooming drives online sales in Europe

Michael O'Grady

Retailers are increasingly reconfiguring their physical stores to support the multichannel shopper. Our Forrester Data: Showrooming Forecast, 2016 to 2021(EU-7) shows that three-quarters of EU-7 online sales, worth 126 billion euros in 2015 are impacted by offline research. Reverse-showrooming, where shoppers buy at a physical store following online research, is even more commonplace. Price is the overriding factor that drives showrooming behaviour. Our report analyses the factors that contribute to offline influence and its implications for multi-channel retailers:

  • Offline influence dominates the retail landscape. In 2015, more than 95% of retail sales in EU-7 either occurred offline or occurred online and were influenced by offline research. This figure is more than double the share of sales that occurred online or that occurred offline and were influenced by online research.
  • Declining foot traffic and high-street spending threatens in-store influence. In-store visits and sales advice from an in-store sales associate are key drivers of offline influence. In 2015, foot traffic in physical stores fell across UK, Germany and France and visits to UK high-street stores declined.
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Google's Next Play: Your Assistant For Everything - Not Just Answers

Julie Ask

This blog post is co-authored by VP and Principal Analyst Michael Facemire and Analyst Andrew Hogan at Forrester.

Google held an event in San Francisco this week to announce several new consumer products – a smartphone, a wireless speaker, Wi-Fi routers, a virtual reality headset and an updated Chromecast solution. All showcased an emerging strategic direction for Google and some killer engineering and design skills.

None of it impressed as much as the demos of Google Assistant – Google’s virtual assistant.

What is a virtual assistant, you ask? A virtual assistant is another name for an intelligent (personal) assistant. Virtual assistants orchestrate agents or services from third parties on behalf of consumers. Bots are one form of an agent. Virtual assistants rely on context (e.g., user input, localization capabilities, and access to information from a variety of data sources) to refine the quality of responses to a user’s requests. These assistants guess, but the guesses get better over time. “Virtual” implies that the service is digital and not performed by a human you’ve hired.

Google Assistant is a natural extension of Google’s path towards becoming the agent that sits between brands and their customers. The “holy grail” of becoming a consumer’s primary virtual assistant will be hard for Google to obtain, but holds unprecedented business value. Google is not alone in this race – Amazon, Apple and Facebook in the U.S. also have their sights set on being the trusted assistant for consumers.

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Three Ways B2B Marketers Can Put Interactive Content To Work

Daniel Klein

Interactive content (i.e., online assessments, calculators, and quizzes) helps B2B marketers shift from explaining to conversing. As my colleague Laura Ramos explains, “Interactive tools...help to create an ‘across the table’ approach at scale.”

Despite this obvious connection, only 44% of attendees at a recent webinar I hosted said they currently use interactive content on their website. So what should B2B marketers do to help close this gap between content delivery and buyer engagement? Interviews with over a dozen senior B2B marketing leaders reveal three primary ways they are putting interactive content to work creating business results: 

  1. Generating leads. Interactive content is great for generating leads because it attracts prospects’ interest by offering an engaging and tailored experience that doesn’t exist when someone passively reads or watches your content. In fact, our January 2016 content objectivity and credibility survey of 200-plus IT and LOB professionals showed that two out of the top six content sources they prefer to read/use are interactive content tools.                            
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Amazon's Customer Relationship is King: Will Yours Be a Prince or a Jester?

James McQuivey

In 2010, I wrote:

"There's a critical lesson to learn from the most recent changes in the media industry. ... while most have been distracted by the form, price, and user experience of their new digital products, a few companies have quietly overhauled the media business by focusing on something else entirely; instead of digitizing the product, these companies have digitized the customer relationship, creating a relationship that can survive the transition from traditional analog media to digital."

I was talking about Netflix, which in 2010 doubled its stock price from under $10 a share to over $20. It now hovers around $100. Back in 2010, I made it clear that this transition to relationships wasn't just about media companies, which were simply canaries in a digital coal mine:

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The Forrester Wave: Marketing Measurement and Optimization Solutions, 2016

Jim Nail

Gone are the days of marketing mix providers.  So long cross-channel attribution technologies.  There’s a new sheriff in town—Marketing Measurement And Optimization Solutions.

Today, Tina Moffett and I are excited to publish The Forrester Wave: Marketing Measurement and Optimization Solutions, 2016.  The 2016 Marketing Measurement and Optimization Wave combines the previous Marketing Mix Modeling Wave and Cross-Channel Attribution Wave.  This report evaluates 10 vendors on current offering criteria, strategy, and market presence. 

Why did we take this “unified” approach to marketing measurement?  Customer data deluge is putting pressure on marketers to measure the effectiveness of ALL marketing initiatives, across each customer.Marketing mix modeling and cross-channel attribution each provide deep marketing performance insights but each fell short in providing what marketers urgently need: a singular view of marketing performance.

Over the past 18 months, Forrester saw a dramatic shift in solutions; traditional marketing mix modeling measurement providers were investing in technology and methodology develop for attribution and we dubbed this “Unified Marketing Impact Analytics”

This inaugural wave helps marketers make sense of this complex landscape of top providers in the measurement space. By virtue of offering a unified approach today, these 10 vendors are the creme de la creme. We expect to see this landscape evolve, with new players entering into the space and mainstays evolve their core offering even further.

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The Forrester Wave: Marketing Measurement and Optimization Solutions, 2016

Tina Moffett

Gone are the days of marketing mix providers.  So long cross-channel attribution technologies.  There’s a new sheriff in town—Marketing Measurement And Optimization Solutions.

Today, Jim Nail and I are excited to publish The Forrester Wave: Marketing Measurement and Optimization Solutions, 2016.  The 2016 Marketing Measurement and Optimization Wave combines the previous Marketing Mix Modeling Wave and Cross-Channel Attribution Wave.  This report evaluates 10 vendors on current offering criteria, strategy, and market presence. 

Why did we take this “unified” approach to marketing measurement?  Customer data deluge is putting pressure on marketers to measure the effectiveness of ALL marketing initiatives, across each customer.  Marketing mix modeling and cross-channel attribution each provide deep marketing performance insights but each fell short in providing what marketers urgently need: a singular view of marketing performance.

Over the past 18 months, Forrester saw a dramatic shift in solutions; traditional marketing mix modeling measurement providers were investing in technology and methodology develop for attribution and we dubbed this “Unified Marketing Impact Analytics”. 

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How Branding Can Make America Great Again

Dipanjan Chatterjee

Make America Great Again

This general election season, as the two major candidates for the United States presidency vie for supremacy in the Rust Belt, the rhetoric on job growth is hot and heavy. Much of the polemic is directed against corporations fleeing offshore in search of cheaper labor, and remedies lean toward cracking down on these companies, penalizing them for leaving. What if, instead, companies wanted to manufacture in the US? What if companies built strong American brands that commanded premium pricing to offset the cost disadvantage? What if branding could make America great again?

Baseball and Apple Pie Never Looked This Good Before

The best brands create and sustain themes of resonance. There is no one-size-fits-all panacea; some of the best emerging brands have dramtically changed the conversation between brands and their audiences. One of the shifts in the conversation has been from bigger is better to small is beautiful. The hipster holy trinity of local, artisanal, and small batch has gone mainstream. Take beer for example – local microbrews now proliferate grocery and convenience store shelves, forcing an embittered Budweiser to launch a baffling campaign lauding itself as a “macro beer.”

Here are three brands that trumpet their made-in-America story as vital ingredients of their brand personality:

  1. Allen Edmonds couples a rich heritage with an updated offering that is as relevant to millennials as it is to “suits.” 100 sets of American hands caress the leather on its 212-step journey to footwear bliss.
  2. American Giant makes what Slate calls “the greatest sweatshirt known to man” in the United States, choosing to limit spend on distribution and marketing and focusing on the product. The result: "Great product, made here, sold at prices that make sense."
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Forrester's B2B Marketing Forum Happens Next Week - See You There?

Laura Ramos

The Zika virus.

The National Doral in light of Donald Trump's presidential candidacy.

Hurricane Matthew.

Who knew Miami would have so much to offer a year and a half ago!??!

Well, here are three MUCH better reasons to come to Miami with us for Forrester's B2B Marketing 2016 forum next week: great content, expert analysts, and the chance to hear from and network with top business-to-business marketers about the topics that matter most to you.

Bug (and political pundit) repellent in hand, I'm looking forward to connecting with many of you about the issues that facing the modern B2B marketer. Planned topics will show how marketing must:

1) lead the way to becoming customer obsessed company-wide,

2) build deeper relationships between coveted buyers and your company,

3) engage with more digitally "entitled" customers on the issues they care about, and

4) enable sales to tell a more human, helpful, and consistent story through account-specific collaboration and more customer-centered organizational structures.  

Looking ahead (and after seeing a preview of some of the content), highlights you won't want to miss include:

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What's My Data Worth?

Jennifer Belissent, Ph.D.

See original imageThat question seems to come up often. I know I’m sitting on valuable data but I’m not sure just how valuable. When it comes to using the data internally to improve operational efficiency or service delivery, the resulting cost savings demonstrates the value.  Or when using the data to identify new customer opportunities, either upsell to existing customers or identifying potential new customers, the resulting revenue generated demonstrates the value. But what if I want to take the data to market? What’s the data worth?  That question is harder to answer, but not impossible.

The first question I’d ask myself is what I already know.  What are the givens in the equation?  Think back to a math course. You are trying to solve a problem. What have you been told? In fact, I’ve been doing math with my son and that exercise has helped me in framing the approach to pricing data.  We know the length of one side of the triangle, and we know the relationship with the other sides. While we don’t know the length of all sides we know enough to figure it out.

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