A year ago, I blogged about the fact that the app economy was blurring the lines and opening up new opportunities, with a lot of new entrants in the mobile space, be it with mobile CRM and analytics, store analytics, dedicated gaming analytics, etc.
Since 2010, more than 40 companies have raised about $500 million in that space! Watch it closely – consolidation will continue, as evidenced recently by Yahoo’s acquisition of Flurry.
While a lot of innovation is happening on the supply-side, too many marketers have not defined the metrics they’ll use to measure the success of their mobile initiatives. Many lack the tools they need to deeply analyze traffic and behaviors to optimize their performance.
Fifty-seven percent of marketers we surveyed do not have defined mobile objectives. For those who do, goals are not necessarily clearly defined, prioritized, and quantified. Only 38% of marketers surveyed use a mobile analytics solution! Most marketers consider mobile as a loyalty channel: a way to improve customer engagement and increase satisfaction. Marketers must define precisely what they expect their customers to do on their mobile websites or mobile apps, and what actions they would like customers to take, before tracking progress. Too many marketers focus on traffic and app downloads rather than usage and time spent. While 30% of marketers surveyed consider increasing brand awareness as a key objective for their mobile initiatives, only 16% have defined it as a key metric to measure their success!
Forrester has been analyzing device adoption since the launch of its Consumer Technographics® studies in 1997. Over the years, it has become evident that although demographics and attitudes influence technology adoption, these elements alone do not predict consumer behavior – subtle factors like context and psychological needs must be taken into account to piece together the technology adoption prediction puzzle. This is because of two essential contradictions that exist between:
What consumers say they will do and what they actually do: The concept of introspection illusion reveals the discrepancy between stated intent and subsequent behavior. Consumers are bad predictors of their own technology adoption patterns and are often conservative when estimating their own device usage.
What consumers say they want and what they really want: As Steve Jobs famously put it, “People don’t know what they want until you show it to them.” And even then, consumers might not recognize the benefits of the product – needs are transient, circumstantial, and often conflicting.
As social media adoption continues to grow in Asia Pacific (AP), so too does marketers’ spending on social advertising. Forrester’s just-published Asia Pacific Social Media Advertising Spending Forecast, 2014 To 2019 report projects that social media ad spending will continue its rapid growth over the next five years. In this period, marketing leaders in Australia, China, India, Japan, and South Korea will increase their investment in advertising on social media (excluding mobile messaging apps) at a 21.6% compound annual growth rate, reaching $5.8 billion by 2019. The rapid pace of growth is mainly due to:
Low market maturity coupled with a large and active social media population. Collective social ad spending in these five AP markets end up being less than half of that in the US in 2014. The maturity of the AP social ad market is low considering the large numbers of people in the region who use social media, and as this market matures it will grow faster than in the US.
Increasing social media consumption will continue to boost ad spending. The percentage of the online population using social media in the five AP markets will increase by double digits from 2014 to 2019. Forrester projects that further Internet adoption will bring even more consumption of social media.
It's easy to get swept up in the power of the digital age, where smart mobile devices and cloud services open the door for new and exciting ways to engage customers. We think a lot about how these technologies will create enticing customer experiences (CX), making these digital touchpoints the face of the brand. I admit, as a technology fan, I'm enamored with this idea. But I'm also someone who thinks a lot about technology and the workforce, so I was equally animated by a conversation I recently had with the head of a CX consultancy. He warned that businesses risk over rotating on technology, viewing their people as receding in importance in delivering satisfactory customer experiences. He went on to say that businesses that make this make do so at their own peril. I agree.
Yesterday, I had the pleasure of attending EmTech MIT hosted by MIT Technology Review. It was inspiring, exciting and motivating to see the innovators of today give us a glimpse of the emerging technologies that will influence the future. The event was especially fascinating for me because as a consumer insights analyst at Forrester Research, I closely follow consumer technology adoption. At the event, Astro Teller, Captain of Moonshots at Google[x], discussed how the technology giant approaches tackling society’s greatest challenges: The initiative needs to address an enormous problem that can be named, the solution needs to be radical, and is based on science and technology. Working on emerging technologies like the self-driving car, Google Glass, and smart contact lenses, Google[x] is at the forefront of bringing futuristic technologies to market.
Blogged in collaboration with Samantha Ngo, Senior Research Associate, serving Customer Insights professionals.
After taking the customer loyalty assessment, you know whether you’re a laggard, learner, leader, or legend:
Great, but you’re probably thinking "Where do we go from here?" You need a game plan that clearly identifies where and how improvements should be made. To do so, take the gaps in your current approach and prioritize your tasks based on whether each one is a:
Need to have. These are non-negotiable tasks that will make or break your graduation to the next maturity level.
Want to have. These are important, but not critical tasks for taking your maturity to the next level.
Nice to have. These tasks come in handy for differentiating your loyalty approach, but have little bearing on your maturity level.
Advertising as we’ve always known it, online or off, worked a bit like this:
Here, advertising content had no life independent of its placement. Print ads, TV ads and radio ads lived only on the servers of the ad companies who created them, and then the media who carried them, for however long they carried them.
Now, a new kind of advertising has emerged:
Here it’s a question of identifying content for promotion that’s already in the wild, on a blog, in a discussion forum, uploaded to YouTube, and then paying to drive more eyeballs to it, because it supports your brand, or it converts interested communities into customers.
It’s particularly attractive for two very good reasons:
It’s already published, and has often already shown potential to create results for the business (in the form of awareness, leads or even sales), and
You can often dial up the eyeballs that go to it, or dial them down, as you see fit, based on performance.
I really enjoyed sharing insights about loyalty in the Age of the Customer at Forrester's Customer Experience Forum East back in June. I got some great questions from the audience about how to start planning and advancing their loyalty strategy. Next up, I'll be continuing the conversations at Forrester's Customer Experience Forum West in Anaheim, CA, November 6-7. And, a few weeks later I'll also be at our EMEA Customer Experience Forum, November 17-18 in London. Here's a sneak peek of the content I'll be sharing at my track session. I hope to see you there!
While analyzing the survey results for my recent report on the state of customer experience management in India, I noticed a fundamental flaw in the way that Indian organizations approach reporting structures for their customer experience (CX) teams. About a fifth of the organizations we surveyed rely on their customer service department to lead the charge for CX initiatives.
This is detrimental to the growth of CX, as there are basic differences between the scope of work and the skill sets of the two teams. Specifically, customer service teams have limited capabilities and exposure across:
People. While both CX and customer service teams work toward enhancing the experience across the customer life cycle, the customer service team has a somewhat myopic view of customer engagement, focusing predominantly on handling client complaints and resolving queries.
Processes. Forrester defines customer experience as how customers perceive their interactions with a company. The contribution of customer service teams to this process is limited to supporting customer tasks in a few phases of the journey.
Tools. Customer service professionals are responsible for the experience delivered via multiple touchpoints, such as IVR systems, contact centers, and social media. However, other equally important customer interfaces, such as mobile applications, digital kiosks, and eCommerce platforms, fall outside their purview.
Chinese people are hypersocial in their lifestyle and daily work, and Forrester forecasts that 681 million of them will be using social media by 2019. Online Chinese are actively engaging with brands and companies on social media: 29 brands or companies on Sina Weibo and 32 brands or companies on WeChat on average. Chinese businesses have realized the importance of social for customer life-cycle management. While they’ve started using social to increase brand awareness — such as broadcasting on Sina Weibo — they can’t recognize potential customers in this one-way communication. They use public WeChat accounts to shorten response times to client service requests — but they can’t predict these requests in advance. To address these challenges, businesses in China are starting to use enterprise-class analytics tools for Chinese social platforms.