Select The Right Agency To Help Overcome Your Top Digital Challenges

Xiaofeng Wang

Marketing leaders in China are looking at the largest and fast-growing digital market in the world and face more challenges in digital marketing than ever. As a result, they need more and more help from their digital agency partners. My new report, Overcome Top Digital Challenges In 2015: Choosing The Right Digital Agency In China helps them to do so.

In China, digital disruption is affecting nearly all industries, including telecommunications (WeChat); transportation and travel (Didi Dache, Kuaidi Dache); and banking and financial services (WeChat Payment, Alipay Wallet). In this digital era, marketers in China face opportunities and challenges in digital marketing:

  • Opportunities: fast-growing digital marketing budgets and more digital marketing duties. More than three-quarters of the marketers responding to Forrester’s Q1 2015 China Digital Marketing Online Survey indicated that they will increase their digital marketing budget in 2015. Also, they are increasingly expanding their digital marketing duties into newer areas such as social and mobile marketing, customer relationship management (CRM), and eCommerce.
  • Challenges: meeting increased pressure to deliver business outcomes. Marketing leaders are bearing more responsibility for business outcomes. As a result, they face the challenge of measuring the results of digital marketing efforts and achieving positive ROI. Marketers are increasingly concerned with the effectiveness of their digital marketing spending and are striving for better strategies, tactics, and targeting.
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US B2B eCommerce To Reach $1.1 Trillion By 2020

Andy Hoar

I’m pleased to announce the release of Forrester’s US B2B eCommerce Forecast: 2015 to 2020.  In this first-of-its-kind report, Forrester forecasts that US B2B eCommerce will grow from $780 billion in 2015 to $1.13 trillion in 2020 – at which time it will constitute 12.1% of the total $9.39 trillion US B2B commerce market.

What's behind our 2020 $1.13 trillion US B2B eCommerce forecast?

  • Changes to B2B buyer preferences. Today, 74% of B2B buyers research at least one-half of their work purchases online. In addition, 30% of today's B2B buyers complete at least half of their work purchases online. With that percentage nearly doubling to 56% by 2017, B2B sellers will see a significant volume of offline business move online in the next few years.
  • The opportunity for B2B firms to reduce the cost to serve customers. B2B companies report cutting their cost to serve dramatically by migrating customers online.  In addition, in a 2013 Forrester survey, 56% of B2B eCommerce executives said that they have certain customers that they can only profitably support online.
  • The value of building loyal multichannel B2B customers. Omnichannel customers spend more than single-channel, offline-only customers. For example, 60% of B2B companies report that their B2B buyers spend more overall when those customers interact with multiple channels. Omnichannel B2B customers are also more likely to become repeat and long-term customers.
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How Much Are Bad Customer Experiences Hurting Your Business? Forrester’s CX Index™ Knows

Roxana Strohmenger

We have all experienced it — a bad customer experience. Websites like Consumerist.com describe in empathy-inducing detail the “turmoil” that consumers experience, whether it be a customer having tape-recorded proof of a promise of service but the company stating they made no such promise or a company cancelling thousands of reward accounts due to insufficient proof of age, despite the inability of the customer to insert the required information.

When reading these stories, I always wonder, “Why is Company X not getting it?” Bad customer experiences are financially damaging to a company. However, what I have learned over the years, especially when talking to my colleagues on Forrester’s CX team, is that fixing customer experience is hard work. Customer experience requires sustainable discipline, investment, and a repeatable system of measurement — and most companies do not know where to start or how to get better.

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Contribute To Research On Making The Business Case For CX In B2B Companies

Deanna Laufer

Maxie Schmidt-Subramanian and I are collaborating on a new report on how B2B companies can make the business case for customer experience (CX). And we'd love your input.

How will clients benefit from this report? 

With longer sales cycles, fewer customer accounts, and an abundance of client roles and influencers, B2B companies are challenged in making the link between improving CX and financial results. But without this link, B2B companies will struggle to get adequate funding to sustain their CX programs over the long term. To help CX professionals at B2B companies overcome challenges to justifying their CX programs, this report will explore:

  • What do customer and business data CX pros need to collect to support their business cases?
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New Research On Making The Case For CX In B2B — Be Part Of This Research

Maxie Schmidt-Subramanian

Deanna Laufer and I are collaborating on a new report on how to make the case for customer experience in B2B. And we'd love your inputs.

How will clients benefit from this report? 

With longer sales cycles, fewer customer accounts, and an abundance of client roles and influencers, B2B companies are challenged in making the link between improving customer experience (CX) and financial results. But without this link, B2B companies will struggle to get adequate funding to sustain their CX programs over the long term. To help CX professionals at B2B companies overcome challenges to justifying their CX programs, this report will explore:

  • What do customer and business data CX pros need to collect to support their business cases?
  • Which are the right metrics for modeling the relationship between customer experience quality and business success?
  • How can CX pros apply their models to proactively improve business outcomes?
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First-Year CX: Some Keys To Success — A Q&A With TSIC

Qaalfa Dibeehi

In 2014, TeliaSonera International Carrier (TSIC) engaged Forrester Consulting to help assess its activities around customer experience and build a road map for its burgeoning customer experience program. TSIC is an international provider of telecommunication services with headquarters in Stockholm and offices in 14 other countries. It has grown from being the largest IP network in Europe to one of the top two global carriers powered by the Internet backbone, as ranked by Internet performance analysts DYN.

I had a chance to sit down with Simon Dodsworth (SD), VP of voice and mobile; Rickard Bäcklin (RB), VP of brand and marketing; and Linda Bennet-Jansson (LBJ), CX manager, to discuss their relatively young customer experience (CX) program.  

What is the mandate for the CX program at TSIC?

RB: It’s an important part of a longer journey. Back in 2011, we initiated a bold transformation project within TSIC. To redefine customer demands in the wholesale space, we looked beyond the internal club of network people, focusing on the future end users and the demands they would put on us in the carrier industry.

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It Has Been A busy Quarter For Social Media, But What Does That Mean For You?

Erna Alfred Liousas
Believe it or not, the first quarter of 2015 is officially complete. Between the snow accumulations (especially) in the Northeast, the subsequent melting process, and the ever-evolving social media landscape, we've been busy. One of my takeaways from the social world is that FOMO (fear of missing out) is alive and well across several audiences. Let me recap a few social highlights and share a bit more on my takeaways. 
  • Snapchat carries a 15 billion dollar valuation and reportedly somewhere between 100 and 200 million active users. Is Snapchat for every brand? Most likely not, but it has a measure of appeal for a particular audience. This group doesn't want to miss out on anything and they also like things that are exclusive and momentary. That's probably the draw for Snapchat's massive Millennial audience. 
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Why Do Digital Business Transformations Fail?

Martin Gill

Digital transformation is undeniably complex and often misunderstood. To look at why things go wrong for some firms, lets take a quick look at three high-profile examples of transformation - two failures and one new initiative. These highlight some common mistakes that senior executives make:

 

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Contextual Interactions Changes Marketing In China: A Brief Survey

Gene Cao

At Forrester’s recent annual Marketing Leadership Summit in Shanghai on March 25, I gave a presentation focusing on ways to build a contextual marketing engine and propel customers to the next best interaction. Key takeaways included:

  • Heavy mobile users in China are generating many new customer contexts. Heavy usage of mobile devices in China has changed the ways that people interact with enterprises. Today’s customers don’t just interface with brands via customer response, customer purchase, and customer services; more commonly, it happens outside of those campaigns. The context of all of those interactions determines whether a customer will engage — and, more importantly, transact — with the brand again.
  • Contextual interactions are changing marketing in China. Early adopters like Didi Taxi use contextual marketing from Day One and provide persistent incentives to engage with both providers and customers. Wanda Group, China’s leading business real estate company, acknowledges customer contextual interactions in its shopping malls across the nation and provides merchants with mobile moments to improve the effectiveness of their targeting.
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It’s March . . . Time To Bring Structure To Your Messaging Madness

Sheryl Pattek

Being the sports enthusiast that I am, I love this time of year. March Madness is in full swing and down to the Final Four. And what madness this year’s tournament has delivered so far. Exciting opening rounds, Sweet Sixteen and Elight Eight games.  A decision here or there has decided great games, and amazing execution has followed. We’ve seen surprise after surprise of upsets of favored teams by the upstarts — all with the common goal of  cutting down that net.

While surprises, upsets, and last-minute execution shifts may make for thrilling college basketball games and entertainment, they’re not part of a winning strategy for your market messaging and customer engagement, which drive the growth that your CEO expects.

In our discussions with CMOs and marketing leaders across industries and business models, we find that many senior marketing executives still struggle with bringing a disciplined approach to the creation and execution of messaging. Rather, we see messages developed in an ad hoc way to solve the need of the moment, giving little thought to alignment from the customer’s view across touchpoints.

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