What’s New For 2016 Singles’ Day: Live Streaming, VR, And AR

Xiaofeng Wang

November 11 is Singles’ Day in China — the biggest eCommerce event in the world. This year, Singles’ Day generated almost $18 billion in one day for Alibaba alone. For more results and analysis, see the Quick Take: AR, VR, And Global Brands Help Singles’ Day Surpass $18 Billion In Online Sales report that my colleague Lily Varon and I put together.

Singles’ Day is now a global phenomenon, blending shopping and entertainment both online and offline; it’s a far cry from its origin as a one-day, one-country, online-only shopping event. This year, newer trends like live streaming and virtual reality (VR) commerce show how eCommerce is evolving. Some of the highlights were:

  • Elevating online-to-offline promotions with augmented reality (AR). Alibaba created a Pokémon-Go-like augmented reality mobile game — “Catch The Tmall Cat” — to drive traffic to the offline stores of partner retailers like Starbucks and Suning and increase sales; players could “capture” discount codes to use in stores. 
  • Developing live streaming as an online shopping staple. This year, Alibaba held a shoppable, live-streamed fashion show during its kickoff gala and live-streamed more than 300 shows during its 24-day promotion period. JD.com and Suning also latched on to the trend: Both teamed up with live-video platform Huajiao to provide live streaming during Singles’ Day.
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The Marketers' Responsibility In Measurement

Tina Moffett

B2C marketers have taken ownership of data-driven decisioning from their customer insight colleagues. With the most holistic view of investment, execution, and results, marketers themselves are the ones best equipped to move marketing from gut-feel to results-driven. Thirty-nine percent of marketing measurement professionals in our recent Forrester Wave evaluation revealed that corporate marketing sponsors marketing measurement and optimization initiatives while only 14% indicated business intelligence or corporate analytics groups sponsor. (Source: Forrester's Q3 2016 Global Marketing Measurement And Optimization Solutions Forrester Wave™ Customer Reference Phone/Online Survey).

 
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Kale Is Good For JetBlue And Other Tales of Brand Resonance

Dipanjan Chatterjee

A powerful brand not only has to be extremely relevant to prospects, it has to make itself an invaluable and inextricable part of customers' lives as well. In the recent Forrester report called Navigate Your Brand To Resonance: Four Milestones To Brand Building, I outline a road map for CMOs with four clear stops, from salience to resonance, on the road to building a powerful brand. This journey is a must-take road trip for CMOs looking to assess the state of their brand and craft a strategy for taking it to the next step. The milestones are shown in the figure below:

The roadmap traces a deepening connection between brand and consumer built on a foundation of customer-obsessed experience delivery and powerful emotional connections. Good brands succeed in being salient, inducing trial, creating memorable experiences, and forming emotional bonds. Amazing brands do more – they energize the entire brand-consumer relationship in a way that creates a resonant and enduring bond. Brands that achieve this resonance are twice blessed -  they reap the rewards of loyalty with existing customers and also set in motion a powerful recommendation engine which feeds the awareness and salience funnel. As Forrester research has consistently shown, word of mouth and recommendations are far more credible than brand-generated paid and earned media.

In the report, I provide several best practices of brands on this journey from salience to resonance; here are a few:

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What Financial Services Execs Can Expect In 2017

Peter Wannemacher

Every fall, more than a dozen Forrester analysts across multiple roles meet to discuss what executives and leaders at financial services firms should anticipate over the next year. Driven by our ongoing research, the result of this brainstorm is now available as the just-published “Predictions 2017: Pioneering Financial Providers Will Partner With Fintech To Build Ecosystems” report. Forrester clients can read the full predictions report by clicking the button here:

               

For non-clients, here are three of the 16 predictions we outline in our new report:

  • Leading providers and fintech firms will partner to build ecosystems. Dynamic ecosystems of value threaten traditional, vertically integrated financial firms that want to stick with the old-school value chain. But ecosystems also offer opportunities to financial providers that think carefully about the roles they want to play in the ecosystem — and by extension, the role they want to play in customers’ lives. Pioneering financial providers like BBVA have built ecosystems with fintech firms like OnDeck, and we predict that in 2017, more leading firms will follow suit and build dynamic ecosystems of value.   
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Announcing Forrester’s Latest Wave Evaluation Of Digital Agencies In China

Xiaofeng Wang

The Forrester Wave™: Digital Agencies In China — Strategy And Execution, Q4 2016 is now live. It’s the second time we have evaluated digital agencies’ capabilities in the Chinese market; we published our first report on the topic in Q1 2015.

To reach and engage with more than 700 million online consumers, B2C marketing professionals have put digital atop their agendas. However, marketers in China are far from ready to go digital-first on their own, and need agency support particularly in the following three areas:

  • Customer understanding and segmentation. Digital consumers’ behaviors are changing fast, and marketers must better understand, reach, and engage with them. Marketers expect to get more data services from agencies, especially industry-relevant customer insights, to help them better understand their customers.
  • Multichannel strategy. Marketers increasingly realize that siloed thinking fails to tap the full potential of digital business, and their efforts are often disconnected when supporting digital marketing initiatives across platforms and channels. As a result, marketers’ demand for multichannel solutions is increasing.
  • Creative strategy. Marketers need creative strategies to improve the return on their digital marketing investments. Content marketing, creating relevant ideas, defining customer segments, and customer journey mapping are critical to developing an effective creative strategy where the ultimate goal is to deliver business outcomes.
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New Benchmarking Data: State Of VoC Programs, CX Research And Journey Mapping…

Maxie Schmidt-Subramanian

… in the making. Do you want to know...

  • How future-proof is our VoC program?
  • Are we doing enough to gain deep customer understanding?
  • Are we maximizing our use of journey mapping and should we be doing journey analytics?

Take our benchmarking survey to get the answers and benchmark your and your company's efforts!

As a thank you for your contribution, you’ll receive an exclusive report on the data - highlighting the state of CX research, journey mapping and VoC programs at some of today’s leading firms.

Our survey shouldn’t take more than 10 minutes to complete. It will be open until November 30th.

We know you are busy and appreciate the time you take to share your experiences with us. If you have any questions, please reach out to Kelly Price (kprice@forrester.com).

Can’t wait to hear from you!

Thank you,

Maxie

Webinar: The Marketing Measurement And Optimization Solutions Wave

Tina Moffett

You’ve heard it before - consumers move from their smartphones to their desktops, from in front of their living room TV to driving by a highway billboard, from their emails to their Facebook News Feed.  With this convoluted and dynamic path to purchase,  are you prepared to understand and measure every touchpoint your brand has with its customers?

 
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The India Customer Experience Index 2016, Part 2: These Industries Performed Well

Amit Bhatia

In my previous blog post last week I introduced the India Customer Experience Index 2016 report, and spoke briefly about over-all trends in this year’s results compared to last year. In this post I’ll explore more industry-level findings.

In this year’s CX Index results, we found that:

  • Financial services (Banks & Credit Cards) performed well. In fact, along with PC Manufacturers, they topped the CX Index in terms of industry-averages. Financial firms recognize that the lifetime value of each customer relationship can be significantly higher than in other industries, so they strive to deliver better-quality experiences to their clients. In contrast, Auto & Home Insurance companies were found lacking in the experiences they delivered to clients, and brought up the rear of the industry-average rankings.
  • Traditional and Digital-only retailers improved their CX significantly. Digital-only retailers are realizing that deep discounting can only take them so far, and are now focusing on delivering differentiated CX instead. Feeling the heat from digital players, traditional retailers made great strides to improve their CX too. Despite these efforts, both traditional and digital-only retailers moved from delivering ‘poor’ CX last year to just ‘OK’ CX this time around.
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Join Our 2016 Global Mobile Executive Survey

Thomas Husson

For the past few years, Forrester has fielded a Global Mobile Executive Survey to understand and benchmark mobile initiatives. This year, my colleagues Julie Ask, Jennifer Wise and I are updating the survey again to help marketers and business executives benchmark and mature their mobile strategy and services.

Planning and organizing for the use of mobile technologies is a complex task. Integrating mobile as part of a broader corporate strategy is even more complex. However, some players are leading the way and working on infrastructure, staffing, and competencies that are hard to see unless you look closely. If you want to understand the role that mobile is playing in various organizations, what their objectives are, how they measure the success of their mobile initiatives, and a lot more, you just have to share with us your own perspective and we will aggregate the answers.

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Lead Agencies Demonstrate Commitment To Post-Digital Marketing

Sarah Sikowitz

The Forrester Wave™: Lead Agencies, Q4 2016 report is hot off the press! 

Companies that succeed in the post-digital era marry digital engagement, traditional marketing, data, and technology to create superior, customer-centric brand experiences. For marketers, this means staying ahead of changing consumer behavior and organizing your team to meet the needs of today’s empowered customer.

As marketers’ rise to this challenge, they look to lead agencies  to drive brand, creative, and experience strategy, along with campaign development across traditional and digital touchpoints. They also look for productive collaboration across diverse agency rosters and a commitment to attracting and retaining post-digital thinkers.  

We evaluated the lead agency capabilities of eight agencies — 360i, Barkley, Havas Worldwide, Hill Holliday, mcgarrybowen, Publicis NA, R/GA, and VML.

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