This is a roll-up of all Forrester blogs written for Marketing & Strategy Professionals. Role-specific blogs are listed below. Visit Forrester.com to learn how we make Marketing & Strategy Professionals successful every day.
If you believe the idiom "a bird in the hand is worth two in the bush," then Snapchat believes it will be worth more than $6B to a future buyer — or the public through an IPO. The service is appealing not just for the UI but also for the limited time the content is stored. That appeals to me as a middle-aged adult, let alone to a teen with poor judgement who may be applying for college or a job in a few years. We've probably all felt awkward at some point about something someone posted.
If you believe the movie "The Social Network," Mark Zuckerberg was also advised to turn down early offers. Remember the shockwaves that rippled down the West coast when Microsoft invested $240M in the fall of 2007 for what is now a 1.6% stake or $1.36B valuation? (See Source)
I am not our social media expert. I am also not our primary mobile marketing expert, though I've covered it extensively at times. This POV is from a mobile analyst who has spent a lot of time looking at social networks on mobile devices.
Here's what we do know:
- There are about 7 billion people on earth.
- 6 billion of them have mobile phones.
- 1 billion (and growing) of them have smartphones, with nearly 400m of those in China.
- People communicate, consume media, and transact on mobile phones — in that order.
- Mobile phones sit at the core of our social graph. We create photos and we share good times with friends. I don't often post while I am sitting at home working. I post when I am out and about doing fun things that I want to share.
What drives a $6B+ valuation beyond pure speculation, optimism, and wishful thinking?
Do salespeople in different roles (e.g., strategic accounts, geographic, inside sales) and with different levels of experience have different perspectives on selling? Not significantly, according to our Q1 2012 North American Technology Seller Insight Online Survey.
Our recently published report “What Do Reps Believe Makes A Meeting Successful?” illuminates how similar the perspectives of sellers in different roles and with different levels of experience really are. If your company has one kind of sales role and one very consistent type of buyer, and they are well aligned, then this data may not much matter to you. But if you have different roles and types of buyer, then it’s worth examining the data in this report.
We found that three-fourths of salespeople agree that the most important aspect of a successful meeting with prospective buyers is their ability to understand the buyers’ business issues and share a way to solve them. The thing is, Forrester’s Q4 2012 Global Executive Buyer Insight Online Survey data, and interviews with executive buyers, clearly illuminate that the majority of buyers believe that salespeople are not successful in meetings with them.
For my money, the most surprising high-value secure website feature is search (here we mean natural language keyword search that lets a user find what he or she is looking for on the site). In fact, our research revealed search to be one of the few bank website features that customers rate as above-average in importance, yet search is either nonexistent or poor on most banks’ secure sites. So we wrote an entire research report about it. Here are some highlights:
Online banking customers want search… We asked consumers who bank online to "rate how important it is to you that your bank's website has each of the following features" and asked them about 14 different features, including search. The majority of online bankers — 68% in the US and 63% in Canada — say search is important to have on their bank's secure website.
…but few banks offer search on their secure website…Just seven of the 25 largest banks in North America include search functionality on their secure websites.
Regardless of your politics, you had to be amazed at the depth and breadth of the discussion around the impact on the Republican brand during the recent government shutdown. At times, it seemed that the health, survival, and credibility of the Republican brand generated more press than potential resolutions to the crisis at hand. And with good reason. The strength of the party’s brand — and the messages it represents — will have a significant impact on its success going forward.
Maintaining a strong brand with a clear, compelling, and relevant message is a universal challenge, whether you’re marketing a Fortune 500 company or a political party. As a business-to-business (B2B) CMO, it’s time to put your brand front and center — and make sure that it accurately represents your company strategy, provides value to your customers, and delivers on its promises. Why now?
Strong brands deliver strong results. B2B companies with strong brands deliver 20% higher financial returns than those with weaker brands. Case in point, IBM, the world’s strongest B2B brand, has consistently grown its brand value since 2006. In a world where CMOs are held increasingly accountable for business growth, developing and strengthening your brand must be a key focus.
When you’re creating content — whether it’s a film, a sales presentation, or an article on maximizing your Thanksgiving leftovers — it’s always important to consider who your audience is; this also holds true for data visualization. I’ve touched upon this in my previous blog posts, but let‘s take a closer look at the audience spectrum specific to data visualization.
Design is, without a doubt, the sexiest of the six customer experience (CX) disciplines. So when we talk about CX design at Forrester, our favorite example comes from a really sexy industry: water utilities.
That’s right — water utilities. And one in particular: Southern Water, located in the southeast of the UK.
We like the Southern Water example because it shows that CX design is not about what shade of blue your logo should be, and it’s not just for people who wear black turtlenecks. No, CX design is about a repeatable problem-solving process that incorporates the needs of customers, employees, and other business stakeholders.
And that’s why we invited Darren Bentham, chief customer officer at Southern Water, to speak at our SOLD OUT Forum For Customer Experience Professionals EMEA in London on November 19th and 20th. Darren has taken on one of the biggest, toughest CX challenges we know of: installing thousands of water meters for customers who have never had them before, didn’t ask for them, and in many cases don’t want them. And yet, by applying CX design principles, he’s making this a positive experience for all parties involved.
In the run-up to the event, Darren took the time to respond to a series of questions about what he’s been doing to improve customer experience and what advice he’d give to others in his shoes. His answers appear below.
I hope you enjoy his insights, and I look forward to seeing many of you in London on November 19th and 20th!
Q. When did your company first begin focusing on customer experience? Why?
Earlier this week, Groupon celebrated its fifth birthday — and its party was certainly hard to miss. The countdown to the big day began last week, when my daily deal emails arrived with pomp and circumstance — images of crowns in the subject lines, extra exclamation points in the text, and heavy promotions based on the need to celebrate. On November 4, Groupon gave out $5 million in “Groupon Bucks” to thank its customers for fueling its five-year evolution from daily deal provider to searchable marketplace.
But the party isn't stopping there. The company continues to identify marketplace opportunities and engage its consumers in a seamless, meaningful way. Groupon’s recently redesigned mobile application and website aim to enhance user experience and allow the company to start optimizing its audience potential. Forrester’s Consumer Technographics® data shows that Groupon's US online customers are a particularly valuable target, as they spent around $200 more shopping online in the past three months than the average US online consumer:
Calling all interactive design agencies in the US and Canada! I'm writing the update to Forrester's "Interactive Design Agency Overview, 2012" report, and I need your help to do it. Please complete our survey by following this link.
If you would like your agency to be featured in the research, please complete the survey to share details of your agency's size, capabilities, industry strengths, and so on. If you would like to see a preview of the questions in the survey, you can download a copy of the survey instrument here.
The deadline for completing the survey is November 27. Please spread the word among interactive design agencies — I hope to include as many agencies as possible in the report this year.
Apple just announced that it has cumulatively sold more than 170 million iPads since the product first debuted in 2010. For context, if iPad Nation were a country, it would be roughly tied at No. 7 with Nigeria, set to eclipse Pakistan next quarter and Brazil the quarter after that.
This boldfaced proof of digital disruption’s power to upset markets has left companies in every industry struggling to keep up with a consumer population that is happily disrupting itself. For someone who spends his days researching digital disruption and modeling its effects, on the one hand, this is good news: Everybody believes in digital disruption. On the other hand, it raises a very real problem: Nobody knows what to do about it.
Today when I meet with companies bent on becoming digital disruptors, one of their first questions is no longer, "How much time do we have until we have to respond?" but rather, "How do we get started right now?"
There is no single answer to this. Some companies are best served by locating their disruption initiative outside the company in an innovation lab where it can quickly generate disruptive momentum. Others can get a boost of internal support by building an internal innovation team and drawing resources from a supportive corporate structure. And some companies can launch multiple focused disruptive initiatives across many different groups in the organization, each one tasked with a specific disruptive goal, as long as the culture of the company is ready to incubate the efforts.
Social reach marketing. This category recognizes social programs that effectively delivered marketing messages to new audiences — whether by word of mouth or by using paid social ads.
Social depth marketing. This category recognizes social programs that helped prospects explore products in detail and make a purchase decision — such as corporate blogs and communities, and marketers’ on-site ratings and reviews.
Social relationship marketing. This category recognizes social programs that engaged existing fans and customers in order to increase their loyalty and lifetime value — something that most commonly happens through branded profiles on social networks like Facebook and Twitter.
Mobile. Okay, we admit it: This one’s not necessarily social. But this category recognizes the great use of mobile tools and programs to reach business or marketing goals.