Kicking Off Forrester's Search Marketing Wave(s)

Shar VanBoskirk

I’m doing it.  Waving three vendor categories at the same time.  And I can’t wait (seriously, no satire intended.)

For those of you less familiar, Forrester’s Waves are detailed analyses of technology vendor and service providers done in order to help our user clients select the best partners for them. (Please note: the keyword in the preceding sentence is detailed. A Wave typically takes 12 weeks to conduct and includes multiple inputs like product demos, client reference interviews, and written responses to an RFP-like questionnaire).

Well, over the course of the next three months, I will be waving search marketing agencies, bid management platforms, and SEO automation tools. In the past, I have evaluated only search marketing agencies as many of them provided proprietary technologies, and stand-alone technologies were still quite immature. But since Q4 2011, I’ve gotten more and more inquiries about search marketing technology players as well. And search technologies have really made some strides in the last 12 months.

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Salesforce Buys Buddy Media: Not A Shocker

Melissa Parrish

As an analyst, I make a lot of predictions about various technology offerings. Over the last year those predictions have increasingly focused on the Social Media Management Platform (SMMP) space, specifically about how I expected consolidation as demand increased from marketers, and big tech players realized the necessity and potential of these platforms. It seemed pretty obvious to me that this space would continue to heat up, especially as I fielded more and more phone calls every week from marketers vetting the players in this space. So in answer to the most common question I’ve been getting since last week: no, I’m not at all surprised that a company like Salesforce would buy Buddy Media.

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Read This Blog, Win A Prize!!!

Peter Wannemacher

It’s the latest craze sweeping the nation… No, I’m not talking about Fruit Ninja, I’m talking about gamification.

There's a reason "gamification" is the buzzword on the tip of so many tongues these days. It takes ideas and structures from games - the video kind and other types - to guide companies in their quest to affect consumer behavior. So should digital strategists at banks and financial institutions use gamification to meet their business objectives?

We’ll get to that, but for now let's start by clarifying what we're talking about. Forrester defines gamification as:

      The insertion of game dynamics and mechanics into non-game activities to drive a desired behavior.

These mechanics come in many shapes & sizes – SCVNGR, a mobile game developer, has a list of more than 40 – but here’s a quick list of four major ones:

·         Points. The most basic element of gamification, points is any type of virtual currency – or, in a few cases, IRL currency. Digital strategists at banks & credit card companies have used this tool for years in the form of rewards points. 

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A New Wave On The Horizon: Customer Engagement Agencies

Fatemeh Khatibloo

We've spent a lot of time in the past year looking at how the customer intelligence services landscape is changing. For one thing, it's a heck of a lot more chaotic: everyone from management consultants to systems integrators to KPO vendors is putting a stake in the ground of CI services. We've also seen a dramatic shift in the way some digital & direct agencies and database MSPs are thinking about their most strategic client relationships. This change has been so noticeable that, a few months ago, we actually published research that defines a new business model: The Customer Engagement Agency (CEA). 

It's no surprise that clients and vendors alike are excited about this model. These agencies help elevate customer intelligence within the client organization. They bring attention and focus to the importance of customer knowledge, and they work hard at infusing that knowledge throughout every customer touchpoint. They measure customer value, not just marketing campaigns. And they help clients use CI to answer questions about everything from product development to logistics and resource management. 

But, this is an emerging market — the players are evolving from very different backgrounds; they offer substantially different "value-added" capabilities; and many of them have proprietary methods and models that make it hard to compare apples to apples. 

That's why we've just kicked off a Customer Engagement Agency WaveTM that will publish in the fall. If you're intrigued with the idea of working with a CEA, I encourage you to:

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Observations About eCommerce In Peru

Zia Daniell Wigder

To conduct our global eBusiness research at Forrester, we rely heavily on support from our multilingual group of Research Associates and Researchers. Recently, one of our Research Associates, Lily Varon — whose family originates from Peru — spent two weeks in the country and emailed us with her take on the state of eCommerce. Given that an increasing number of our clients are eyeing the online retail markets of Latin America, I thought it would be interesting to hear Lily’s observations of what’s happening in the region’s sixth-largest economy.

“Here are a few high-level findings from my travels:

Consumer adoption of online shopping in Peru remains low. The lack of online shopping is largely due to the fact that it’s just not customary, but also due slightly to the fear of putting personal financial information on the web. Retailers are encouraging consumers to overcome these barriers by prominently displaying payment and security information on the website, as well as educational information such as FAQs, step-by-step shopping, and payment instructions or YouTube videos explaining the shopping and checkout processes.

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Q&A With David Lessing, Chief Operating Officer, Wealth Management, US, Morgan Stanley Smith Barney

Moira Dorsey

I had a chance to catch up with David Lessing, COO of wealth management at Morgan Stanley Smith Barney, in advance of his keynote next month at the Customer Experience Forum. I spoke with David about what it means to have an outside-in perspective on customer experience at Morgan Stanley Smith Barney. Here are some of his thoughts.

Q: How would you describe the experience that you want Morgan Stanley Smith Barney customers to have?

A: The most significant driver of a client’s experience with Morgan Stanley Smith Barney is that client’s financial advisor and service team. We are focused on ensuring that our firm offers clients the most talented financial advisors with access to the best tools and investment insights in the industry. Although each client has somewhat different expectations of what they’d like to receive from us, we are committed to both excellent service and deploying our expertise to help drive investment results in line with the client’s goals, something we define as “investment excellence.”

Q: How does Morgan Stanley Smith Barney’s customer experience provide a differentiated experience from direct competitors?

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Market Research Lessons Learned From Behavioral Economics

Gina Fleming

Recently, I attended the MSI Workshop on behavioral economics at the Harvard Innovation Lab. The presenters included an innovative crew: a number of academics from Harvard Business School and Dan Ariely , author of Predictably Irrational. They gave many examples of how consumers aren’t always rational and don’t always know why they do what they do. This is troubling for market researchers, since it’s our job to understand what drives consumers so that companies can effectively optimize what works and what doesn’t. Let’s look at a couple of examples of how principles of behavioral economics can wreak havoc on market researchers:

  • The path of least resistance (AKA the default). Ever wonder why you are enrolled in your company’s 401(k)? Why you take generic over brand-name prescriptions? Why you’re an organ donor? Is it because of your financial sense or your values — or could it be because it was simply the default (and hence the simplest) option? In fact, multiple experiments in behavioral economics suggest just that: People tend to go with the default option but don’t realize they do.
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ePrivacy Legislation Gets (Marginally) Clearer

Martin Gill

 

The  May 26th UK deadline for compliance to the EU ePrivacy Directive has come and gone.

The result? Confusion among eBusiness executives. Some action. Some sites are informing us of what they are doing. Many aren’t. And a last minute refresh of compliance guidance from the Information Commissioners Office.

The ICO has been steering UK organizations toward compliance for a while, though this steering has been frustratingly vague. But to give credit where credit is due, it released a last-minute guide, which is actually very helpful. Rather than reproduce the content here, I encourage you to read this blog post and download the PDF linked on the page.

The ICO has been taking an admirably pragmatic approach to compliance. The latest document sets out definitions of "implied consent," "session," and "persistent" cookies (among other things) as well as delivering some useful tips on how to inform consumers, even looking at the style of language needed.  It's a real shame for UK sites that this guidance was issued at literally the eleventh hour. But as many UK sites have still yet to take any action, this guidance will still be helpful.

The situation in the rest of Europe is also beginning to become clearer.

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The Business Impact Of An Outside-In Perspective At Sprint

Harley Manning

Sometimes a CEO takes the reins at a company that’s in such great shape, I can’t help thinking, “Wow, it must be great to be that guy!”

And then there’s Dan Hesse, CEO at Sprint. Given the shape that Sprint was in when he got the top job in 2008, I was thinking more along the lines of, “Wow, he must be working off a karmic burden!” That’s because back then, the company had the lowest customer satisfaction ratings of any of the major wireless carriers. As a result, it was bleeding cash from high customer care costs and lost subscribers.

Faced with this mess, Dan decided to focus on systematically improving the quality of Sprint’s customer experience as a way of improving Sprint’s bottom line. We were so impressed by his efforts that we included a case study about Dan in Chapter 2 of our upcoming book, Outside In: The Power Of Putting Customers At The Center Of Your Business.

The book won’t be out until August 28th, but you don’t have to wait until then to get a sense of how effective Dan’s efforts have been. That’s because on May 15th, Hesse gave an address at Sprint’s shareholder meeting, and he had this news:

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Rx: Four Days Of Inspiration At The Cleveland Clinic Patient Experience Summit

Harley Manning

Earlier this week, I had the privilege of speaking at the Patient Experience Empathy And Innovation Summit. The event was sponsored by the Cleveland Clinic Office of Patient Experience, which is led by Dr. Jim Merlino, the chief experience officer at the Clinic.

To be candid, I originally agreed to give the speech as a favor to Jim, whose inspirational story kicks off the chapter on chief customer officers in our upcoming book. I didn’t know what to expect of the event and somehow imagined that when I joined hundreds of doctors, nurses, and other caregivers in a big auditorium, I’d get trapped inside an episode of House — and I’d be the only one who didn’t know what the other cast members were talking about.

Was I ever wrong. The event was an extraordinary experience from beginning to end, and the content was accessible to anyone who works to improve customer experience, regardless of industry. As someone who helps put on Forrester's Customer Experience Forum, I even got a little envious.

A few things leapt out at me from the sessions I attended:

  • Executive-level commitment to customer experience as a business strategy. Dr. Delos “Toby” Cosgrove, CEO of Cleveland Clinic, and Dr. Kurt Newman, CEO of Children’s National Medical Center, appeared together on a panel. It was clear from their answers to moderator and audience questions that both of them connect the dots between high-quality patient experience and the bottom line.
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