A Path Forward For Enterprise Marketing Technology

Joe Stanhope

I’m incredibly excited about this blog post!

First, this is my inaugural post since rejoining Forrester Research in May. I’m a boomerang in Forrester parlance — a former employee returning to the company — and it’s been wonderful to immerse myself in the marketing world and reconnect with so many clients, vendors, and colleagues. In the time since my first tour at Forrester, I’ve held several executive roles, spanning global marketing technology, adtech, and SaaS technology. One of the interesting aspects of being a boomerang is bringing my range of experiences back to Forrester, which I believe will make me a better analyst and resource for clients. I am partnering with my colleague Rusty Warner to cover enterprise marketing technology. It’s a big topic! By teaming up, Rusty and I are in a great position to maintain the Enterprise Marketing Technology playbook, extend coverage of marketing technology into new and expanded topics, and work closely with Forrester clients on a global basis. In particular, I’ll be focusing on the future state of marketing and advertising technologies.

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The US Customer Experience Index For 2016, Part 3: Emotion Holds The Key To CX-Fueled Loyalty

Roxana Strohmenger

Over the past two weeks, my colleagues Harley Manning and Rick Parrish have discussed the rising tide of CX quality, stagnation among top brands, and CX-fueled digital disruption in the results of our US 2016 Customer Experience Index™.

In this post, I’ll explore another big finding from our research: The way an experience makes customers feel has a bigger influence on their loyalty to a brand than the effectiveness or ease of the experience.

CX professionals often think that getting emotion right is simple: Make your customers happy, not angry. However, we find that anger and happiness do not have a very strong influence on customer loyalty. What does?

  • Making customers feel valued, appreciated, and confident drives loyalty. Consider the hotel industry, which had the largest percentage of customers that reported feeling “valued.” We found that 88% of these “valued” individuals will advocate for the hotel brand, and over three-quarters of them will keep their existing business with the company as well as enrich their relationship.
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Forrester Wave™ evaluation of the Customer Feedback Management market

Maxie Schmidt-Subramanian

I am pleased to announce that Forrester Research is commencing a Forrester Wave™ evaluation of the Customer Feedback Management market and collecting data for a separate VoC vendor landscape overview. I will lead the project and the expected publication date is March 2017. For more information about the Forrester Wave process, please read here.

CFM / VoC vendors support companies' enterprise-wide voice of the customer programs by helping a company with all or some of the following: solicit feedback from key customers across channels, centrally collect solicited and unsolicited feedback, analyze structured and unstructured feedback, distribute insights from customer feedback across the organization, close the loop with customers who have given feedback, act on the insights from the feedback, and monitor CX progress continuously. 

If you want to be considered for this research, we ask you to fill out a questionnaire. We will use it to determine which vendors to include in the full Forrester Customer Feedback Management WaveTM study and to gather data for a separate "Market Overview Voice Of Customer Vendors" report. 

We must receive your responses to our questionnaire by: August 19, 2016, 12 pm (noon) EST.   Please send completed surveys to sross@forrester.com. After evaluating the completed inclusion surveys, we will select several vendors to invite to participate in the in-depth Wave research. Note that not all vendors receiving this survey will be included in the Wave. We will notify you of your status after we have completed the vendor selection process.

Thank you and looking forward to hearing from you.

The Data Digest: Forrester's Social Technographics 2016

Gina Fleming

To build a successful social media program you need to understand your audience’s social media behaviors and preferences. We just released our 2016 results for Forrester's Social Technographics model, and it does just that. It shows how important social should be in your marketing plans based on how important social tools are in your customers’ life cycle. We group consumers into four groups: Social Skippers, Snackers, Savvies and Stars—the Skippers spurn commercial social interactions and the Stars demand it.

What did we find this year? In 2016, the average US online adult receives an overall score of 40 and fits into our Social Savvies category. Social Savvies consider social tools a part of their everyday lives. On average, US online adults score highly for explore and discover— they use social tools to discover new products and also to explore them when they’re considering their purchases. Compared to last year, US consumers are slightly more social media savvy in 2016: The Social Technographics Score for the average US online adult has increased from 37 in 2015 to 40 in 2016. 

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Who Am I Really Talking To On Social Media (And Do They Even Care)?

Jessica Liu

Don’t worry; you’re not the only one wondering.

Forrester’s POST methodology for social marketing success dictates four steps: 
1. People
2. Objective
3. Strategy
4. Technology

Often, marketers lead with T, but they need to start with P. The $64,000 question about People is not whether customers use social media, but rather if they want to engage with brands on social media at all, and if so, how. That’s right, the first and most important question is not whether your competitors are on social media or if the latest social network has the coolest ad format; it’s what your customers want from your brand. Marketers need to know this to guide how (or if) they add social to their overall marketing strategy.

As part of our new Social Marketing Playbook launch, the Landscape chapter explains how Forrester’s latest Social Technographics® model helps marketers answer:

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Has L2RM Now Become A CMO Imperative?

Peter O'Neill

Last week, my colleague Lori Wizdo and I were discussing our most recent advisory engagements on the topic of lead-to-revenue management (L2RM). Lori is kicking off the latest research for her next Forrester Wave™ evaluation of L2RM automation, and we were considering how we should modify the evaluation criteria from the previous Forrester Wave published in 2014.

As we wrote three years ago in the Forrester playbook on this topic, L2RM is not “demand gen on steroids”. It is marketing's chance to catch up with an already evolved buyer. Lori noted that we are observing the transformation of B2B marketing from a

"supplier of leads to the load-bearing sales force to the architect of customer engagement across the life cycle”.

Initially, we discussed L2RM, our playbook, and the associated Forrester Wave with marketing ops staff and with the marketing executives responsible for demand generation. But in recent months, we have noted a step change in our engagements. We are currently working with three chief marketing officers (CMOs) on this topic. They are using L2RM to transform their organization and culture.  

And our L2RM playbook is not just high-level strategy advice (I remember a B2B marketer telling me at a conference this year “We see you analysts at Forrester as the high priests of B2B marketing”). Heh! We do details as well - here is one of the graphs from the playbook, where we leverage the concept of that business school classic, the results chains. 

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The Wounded Unicorns Of Fintech

Oliwia Berdak

Finovate, KPMG, and CB Insights are all reporting on record investments in financial technology (fintech) in 2016.[i] According to Finovate, the total number of deals year-to-date stands at 737, double last year’s 371. The amount invested has more than doubled, too — from $8.4 billion raised during the same period a year ago to $17.4 billion year-to-date.

There seems to be a lot of optimism in fintech, especially when you consider this chart:

Source: Yahoo Finance.

The share prices of fintech darlings in peer-to-peer (P2P) lending, small-business lending, and mobile payments have collapsed post-IPO. And devaluations aren’t affecting only publicly owned companies. Zenefits — which offers cloud-based software to manage payroll, health insurance, and other benefits — was valued at $4.5 billion in May 2015. Since then, Fidelity, which led the funding round, has written down the value of its investment, now estimating Zenefits' share price at $5.60 — down from $14.90 a year earlier.[ii]

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Federal CX Professionals: Your Time Is Now

Rick Parrish

This post is part of a series dedicated to the challenges, opportunities, and realities of federal customer experience. Interested in learning more? Check out our recent webinar to learn why CX success is vital for government success.

In my last post, I explained how forces arrayed against federal customer experience (CX) improvement hinder Washington’s efforts. Luckily, there’s a way out of this quagmire. To overcome anti-CX forces and achieve all the advantages of better federal CX, customer experience professionals should:

  • Form an unstoppable coalition. Don’t try to fight alone. Instead, join forces with like-minded feds to share information, challenges, and solutions. Start by leveraging the large network of the General Services Administration’s CX Community of Practice, which has over 500 members from more than 70 federal, state, and local government organizations. Then tap into the bureaucratic muscle of the senior program managers, OMB staff, and other officials on OMB’s new Core Federal Services Council, the “government-wide governance vehicle to improve the public’s experience with federal services.”
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Introducing Forrester's B2B Tech Customer Experience Index Methodology

TJ Keitt

Since 2007, Forrester has helped consumer brands evaluate the experience they deliver to their customers with our Customer Experience Index (CX Index™). This methodology powerfully demonstrates to business-to-consumer (B2C) companies the link between CX and customer loyalty. Business-to-business (B2B) firms can benefit from a similar methodology to assess their emerging CX practices. Using the B2C-oriented CX Index as a foundation, we created the Forrester B2B Tech Customer Experience Index, which we are unveiling today.

The B2B Tech CX Index is designed to account for the key differences between B2B and B2C technology companies in managing a customer experience:

  • The number of stakeholders within a single account. In a single B2B account there are numerous "customers" -- individuals who interact directly with the vendor or its products. This can include business analysts, procurement officers, tech management executives, systems administrators, end users, and help desk staff. Because B2B tech companies have to account for many different stakeholders, the B2B Tech CX Index captures this range of customers by surveying both business leaders and technologists.
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"Social Marketing" Strategies Are Holding You Back

Melissa Parrish

Social marketing is at a crossroads.

The explosive popularity of social media over the last decade led many B2C marketers to launch social programs, often without any strategy or even an understanding of what they hoped to accomplish. Since then, nearly all marketers have jumped on the social media bandwagon launching Instagram accounts and influencer programs, putting UGC on their websites, buying listening platforms and ads, and, yes, maintaining a Facebook page -- but many are struggling to articulate the value of all this “social.” What’s going wrong and where do marketers go from here?

In order for marketers to take back the reins on their social practices, they must realize two fundamental things:

First, that “social media” is not one single channel. It is a collection of technologies -- from social networks to blogs; ratings and reviews to full-blown communities; and everything in between -- that allow people to connect with each other, whether that’s friends connecting with friends, consumers connecting with brands, or employees connecting with each other.

And second, since it’s not a single channel that you can turn on and off with the flick of a switch, it’s not something for which you need a single dedicated strategy. Instead, you need a marketing strategy in which social tactics and technologies are employed and deployed where they’ll help you make the most progress toward your goals.

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