Blogged in collaboration with Samantha Ngo, Senior Research Associate, serving Customer Insights professionals.
Even if you have a clear idea of where you want to end up, the route you take to customer loyalty isn't always straightforward. Outlining a strategic plan helps you understand what you need to do, but a roadmap identifies how, when and with what resources you should tackle each step. Forrester believes there are six components to designing an effective loyalty roadmap:
Time frame: The expected completion of tasks and delivery of results.
Desired outcomes: Key performance indicators (KPIs)that help you benchmark the performance of your advancing strategy based on your maturity.
Strategic themes: A summary of the objectives an organization needs to advance its strategy.
Key steps: The specific tasks — pulled straight from the strategic plan — which an organization must complete to graduate to the next maturity level.
Dependencies: The people, process, and technology required to execute the key steps. Changes to the current approach may require acquiring new team members, implementing formal processes, or buying loyalty technology.
Investment level: Where and when the allocated loyalty budget will be spent.
If the healthcare industry exhibited symptoms of dysfunction, the US government administered a wave of treatment in the form of the Patient Protection and Affordable Care Act. October 2013 marked the opening of online insurance marketplaces, and set the stage for the act's requirement that most US residents have health insurance coverage. As a result, the industry has witnessed cessations and regenerations, and the pulse of consumer sentiment has fluctuated. Now, one year on, we’re due for a checkup.
At a macro level, US online consumers’ perspectives on healthcare reform today are largely consistent with those immediately preceding open enrollment under the federal law: Individuals continue to be skeptical of policy changes. However, at a micro level, subtle yet fundamental shifts in the consumer mindset signal a gradual evolution in perceptions of healthcare.
Our Technographics 360 research approach, which synthesizes Forrester’s ConsumerVoices Market Research Online Community insight and aggregated social listening data, shows that the conversation about healthcare has shifted from politics to experience -- and, in particular, to a focus on cost:
Marketers are in love with the latest mobile “shiny object” – and with technology acronyms – NFC, AR, LTE, BLE, RWD, QR. What’s more, hype questions abound: Will beacons replace NFC? Do you believe in HTML5 or should we develop a native app? Should we build an app for Apple Watch? But most of the time, these questions are irrelevant.
The reality is, marketers are increasingly using a variety of mobile tactics and technologies – but this use is rarely sophisticated and more often than not, does not match customer behaviors.
Sophistication of consumers’ use of smartphones is climbing — without consumers even noticing it. Mobile is simply part of our daily lives and, therefore, fundamentally changes customer expectations. With mobile traffic exploding, marketers are not only underserving their best customers by delivering a poor mobile experience, but risk losing their business altogether.
It’s time for marketers to start asking questions like how their core audience is using mobile, the value that mobile is adding throughout the customer lifecycle, the experience they want to transform, and the marketing objectives they have, to name a few. And only then, begin to align the right technologies.
I had the pleasure of conducting a Digital Maturity Assessment workshop with a colleague from Forrester Consulting for about 20 companies in Sydney recently. The majority of participants were from the Australian financial sector, with heavier representation from marketing departments than technology management. While the session was an abridged one intended to discuss, understand, and determine where the participants were on their digital business journey, it was productive and revealed that:
Participants knew what to do with digital business transformation, but struggled with how. Participants had started on the digital transformation journey, but needed to address cultural and organizational gaps to fully drive transformation. These issues include who owns the digital transformation agenda (does it sit with the CIO or CMO?), how to bridge the communication chasm between the CIO’s department and the lines of business, and how to measure results to drive transformation in a positive direction.
On October 14, I attended Big Data & Business Insights 2014 in Bangkok — the first public big data event in Thailand. I spoke about how to use big data to increase customer value in the age of the customer — a topic that seemed a bit distant from the audience’s daily reality. Most of them use traditional data warehouse and business intelligence tools and are new to big data solutions like Hadoop platforms, big data visualization, and predictive solutions. Here’s what I came away with:
Big data is still new to Thai businesses. Most big data projects in Thailand are still at the testing stages, and these trials are taking place in university labs rather than commercial environments. Dr. Putchong Uthayopas of the Department of Computer Engineering at Kasetsart University noted that big data projects in Thailand are now moving from pilot projects to actual usage.
Organizations need more details of real big data solutions. Thai businesses have held off investing in big data solutions because they felt uncertainty about the outcomes of big data projects. Attendees showed a lot of interest when I talked about big data usage in traditional industries, such as John Deere’s “Farm Forward” use case, which helped farmers make better decisions on what, when, and how to plant.
Well, it’s finally here! After weeks of anticipation, Apple Pay launched on Monday. Apple also unveiled the iPad Air 2 and iPad mini 3, both with Touch ID sensors and an embedded secure element, which means Apple Pay can be used for in-app payments on those devices as well as the iPhone 6 and 6 Plus. Apple Pay launches at a time when the US payments marketplace is in turmoil: The frequency and scale of security breaches are on the rise, issuers are beginning their migration to chip-enabled cards, and mobile payments are still quite nascent — even after significant investment and a range of competitors that have come and gone. Enter Apple Pay.
Just as new products and services from Apple have reshaped other industries, Apple Pay will reshape and set a new benchmark in consumer payments. There are many well-designed aspects in the initial version of Apple Pay — these are the Apple Pay “hits.” They include a context-aware, streamlined user experience; a breakthrough approach to security; unprecedented payments ecosystem cooperation; and great timing.
Although there is a lot to like about Apple Pay, this ship has holes. If not addressed, these “misses” — such as an inability to scale in-person payments, limited consumer and merchant value, and reduced consumer insight for marketers — will derail Apple Pay's ability to reach the mainstream, become the undisputed commerce platform of choice, and achieve Tim Cook’s vision of replacing the wallet.
Today, my co-author Rusty Warner and I published the first-ever Forrester Wave: Enterprise Marketing Software Suites, Q4 2014. Or, as they are popularly referred to, the “marketing clouds.” The evaluation looked at the eight vendors vying to convince marketers of their ability to provide an integrated portfolio of products that span all of marketing’s needs. Integration is increasingly important to marketers in their efforts to understand the full customer life-cycle and be able to execute across all interactions.
Forrester defines an enterprise marketing software suite (EMSS) as: an integrated portfolio of marketing technology products that provide analytics, automation, and orchestration of insight-driven customer interactions to support inbound and outbound marketing.
In August and September of this year, we fielded a survey of online retailers in Brazil together with partner e-Commerce Brasil, an established industry organization. The goal was to better understand key performance indicators (KPIs) in Brazil as well as retailers’ priorities, challenges and the size and composition of eCommerce teams.
We received over 300 responses to our survey and have just published the first in our three-report series based on the survey. Retail eCommerce In Brazil: Key Metrics provides a look at over a dozen KPIs such as conversion rates, average order values, return rates as well as sales driven by smartphones and tablets. Our report analyzes the data by retailer type (web-only, traditional retailer or manufacturer selling direct) as well as by retailers’ total online revenues and tenure.
A few findings from the report:
Conversion rates in Brazil average 1.9%. In Brazil, we found conversion rates that varied quite a bit by type of retailer, with web-only retailers reporting the highest conversion rates. These rates tend to increase as markets evolve: Our previous research on The State of Retailing Online 2014: Key Metrics & Initiatives conducted with Shop.org yielded an average conversion rate of 2.7% for the US.
Personally, I can’t wait. Which is why I’m delighted to offer up Roland’s answers to some of our pressing questions – right now.
I hope you enjoy what he has to say and I look forward to seeing some of you in London!
Q: When did your company first begin focusing on the customer experience?Why?
It is always important to us that our customer experiences DiBa in the way that we promise it. We want to turn our customers into fans, and this is something that we work on everyday – for over 8 million customers. We would like to make satisfied customers feel inspired, and unsatisfied customers inspired once again.
India’s online retail market is on the radar of global investors and eCommerce players, which have announced investments topping $3.6 billion in the past three months, including $2 billion in Amazon, $1 billion in Flipkart, and potentially $650 million in Snapdeal. Growth in India’s online retail market is powered by its fast-growing smartphone penetration, as customers are increasingly using their mobile phones to buy products online. More than half of Snapdeal’s and Flipkart’s sales and nearly 35% of