We Have A New Mobile Banking Leader: Westpac Tops Forrester’s Global Benchmark In 2016

Aurelie L'Hostis

Mobile banking adoption has reached critical mass. Rapid progress in mobile technologies and consumers' ever-increasing expectations and changing behavior have left many banks around the world playing catch-up. In the meantime, a cluster of banks is racing forward by putting customers at the center of their strategy, striving to anticipate customers' emerging needs, and by embracing an agile and iterative approach to speed up the development of new mobile capabilities that differentiate them from their peers. Today, these banks are delivering outstanding services to their customers in mobile, and in 2016, Westpac in Australia is leading the pack.

To help digital business strategy leaders better understand the landscape of mobile banking, identify best practices, and benchmark their own capabilities in this area, Forrester conducts an annual functionality benchmark applying 40 criteria. This year, we evaluated 46 leading retail banks from more than a dozen countries across four continents, and have just published the findings in our "2016 Global Mobile Banking Functionality Benchmark" report.

Here are some of the highlights from the global benchmark report:

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The US Customer Experience Index for 2016, Part 1: The Bar for CX Quality Inched Up

Harley Manning

It’s time for one of Forrester’s big annual events: The publication of this year’s Customer Experience Index report for US brands.

The report is based on Forrester's CX Index™ methodology, which measures how well a brand's customer experience strengthens the loyalty of its customers. We use this methodology to create an annual benchmark of CX quality at large US brands. Between our Q3 2015 report and our 2016 report we saw modest but clear progress among many of those brands, as 58 out of 319 had a significant improvement in their experiences.

  • Twenty-eight brands gained 5 points or more. The 28 brands were scattered across 12 industries plus the US federal government, where three agencies made big increases.
  • Five industry averages rose. Every year we show the range of scores by industry together with industry means. In 2016 the bar went up significantly for five industries:  wireless service providers, traditional retailers, hotels, internet service providers (ISPs), and US federal government agencies (which is more of a sector than an industry but you get the idea).
  • The percentage of Good and Okay scores rose slightly. The percentage of Good and Okay brands each increased by two percentage points. Those gains came equally from declines in the Poor and Very Poor scores, which each shrank by two percentage points.   
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Forrester’s Customer Experience Marketing Summit 2016 Is Coming To Singapore August 25th!

Fred Giron

Customer experience (CX) and marketing leaders, mark your diaries! I’m excited to announce that Forrester’s CX Marketing Singapore 2016 event is less than six weeks away.

As all organizations operating in Singapore and in Southeast Asia understand, CX is fast becoming the only competitive differentiator for their business. The lines between brand, marketing, and CX disciplines are blurring as customers gain access to companies, services, and products on their own terms. How can you thrive in this dynamic environment? Start by effectively coordinating between brand, CX, and marketing teams. 

We’ve filled our agenda with senior CX and marketing professionals from leading organizations across Singapore and beyond. Key topics they’ll cover include:

  • Driving business results, competitive advantage, and growth by delivering the right customer experience.
  • Identifying the key practices and behaviors that fuel CX innovation.
  • Building and maintaining a brand in a digital world.
  • Instilling an understanding of customer emotions into design experiences and branding strategy.
  • Systematically improving CX through effective measurement.
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Responsive Web Design Is Not Mobile First

Julie Ask

My colleague and coauthor Ted Schadler and I are watching with dismay as company after company shrinks its desktop website down to a small screen using responsive web design (RWD) techniques so it fits on – but isn’t optimized for – smartphones.

Companies have delightedly embraced responsive web design as the one-size-fits-all solution to mobile, tablet, and desktop sites. In a recent survey of digital business professionals, we found that 93% are using, piloting, or planning to pilot responsive web design.

That sounds great on paper. After all, RWD is a very practical approach to developing websites that render on any device. But when mobile tasks diverge from desktop tasks as they often do in commerce, the one-size-fits-all approach taken by most responsive retrofits will fail to delight or even satisfy customers on smartphones or desktops.

People do different things on their smartphones than on their desktops or tablets (see figure). To delight and serve your customers in their mobile moments of need, you need to give them exactly what they need to move forward in their immediate context. So if you can't reach all customers with an app – AND YOU WON’T! – you will need to deliver an app-like mobile web experience.

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The Data Digest: Introducing Forrester’s Empowered Customer Segmentation

Anjali Lai

From the mischief caused by Napster to the arrival of the iPhone and the (once improbable) reality of wearables and self-driving cars, our world has evolved – and so have your customers. Since the launch of Forrester’s Consumer Technographics® study in 1997, we have had a front-row seat for the dramatic changes in consumer behaviors and attitudes that have upended traditional business models and resulted in a chaotic marketplace where behemoths become bygones.

These changes are not as random as you might think: Forrester’s data analysis reveals five key shifts in consumer behaviors, attitudes, and expectations that fuel customer empowerment: willingness to experiment, device usage, digital/physical integration, information savviness, and self-efficacy. As consumers continue to evolve along these dimensions, business leaders must think differently about how to build and sustain customer relationships – more than simply analyzing historical behavior, demographics, and lifestyles, models of customer understanding must now account for the empowered customer’s expectations, emotional motivations, and contextual decisions.

Therefore, we are excited to launch Forrester’s Empowered Customer Segmentation, a model that measures how customers evolve along the five dimensions of change – and at what rate.

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Marketing Automation Can Be Made In Europe

Peter O'Neill

Many new marketing automation solutions are now available to help B2C marketers manage customer engagement, B2B marketers manage leads, and marketers of all ilk manage other marketing processes, such as campaigns and digital asset management.

European marketers are traditionally more hesitant about investing in technology projects, leading to a perception that they are late adopters. But in 2014, we observed a new European propensity to invest, and this trend continues with an increasing sense of urgency. In Forrester's Global Business Technographics® Marketing Survey, 2015, 50% of 248 European markers even named "don't have the right technology" as their most important organizational concern related to achieving their marketing priorities — and European firms now have stronger investment plans than their North American peers in almost every marketing category.  

As well as having to deal with a more complex regulatory environment, marketing and sales disciplines are also markedly different in Europe. The survey showed that European businesses tend to:

  • Have federated marketing organizations.The fragmentation of the target markets that European firms sell to means they need to use many more channels, languages, and messages to be effective.
  • Rely more on channel partners.Nearly one-third of the European marketers we surveyed stated that their channel partners were their primary sales channel, compared with 11% in North America. The result? Marketing and sales enablement projects are quite different, with a stronger need for through-channel marketing in Europe.
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Forrester’s Next-Generation Financial Services Summit Sydney Is Almost Here

Michael Barnes

Business leaders in the financial services industry (FSI) know that digital isn’t the future — it’s the present. How do I know this? A recent Forrester survey found that global FSI firms generated 34% of their 2015 revenue through digital products and services or products sold online. By 2020, this digital quotient will surge to more than half of their business, driving a digital arms (and capabilities) race against a new breed of competitor.

Australia's banks have already proven to be some of the most innovative globally. But faced with increasing consumer demands and financial technology (fintech) challengers, they need to continue to raise the bar. JP Morgan CEO Jamie Dimon accurately sums up the new competitive dynamic that all major banks face when he notes that “There are hundreds of startups with a lot of brains and money working on various alternatives to traditional banking.”

Our inaugural invitation-only FSI summit in Sydney on Thursday, August 4 will bring together an intimate group of senior executives from banks, insurance companies, and fintech firms to share Forrester’s latest digital business research and facilitate a discussion with industry leaders in the financial services industry. Our team of esteemed analysts will lead the discussion; here is a snapshot of the topics that will be presented on the morning of the summit:

  • Michael Barnes (Vice President and Research Director serving CMOs – Sydney): Accelerating Digital Business In Financial Services
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A Verizon/Yahoo! Deal Could Usher In Customer-Obsessed Omnichannel Experiences

Shar VanBoskirk

Yahoo!'s assets are on the sales block. And of the several potentials in the final stages of the bidding process, Verizon is getting a lot of speculation, perhaps because many consider it unlikely that Verizon will/should take Yahoo! too after picking up that other Web fossil, AOL, one year ago.  

Here are my thoughts:


  • Verizon wants Yahoo to fill out its omni channel content and advertising play.  The more access to customer data it has (online through Yahoo and AOL, in home via cable boxes, on mobile via smart devices) the more targeted it can be with advertising and sponsored content or product placements across those same devices.  This allows Verizon to create better ad products which is competitive against primarily online giants (Google) and creates a better user experience which is competitive against other cable and telecom providers.
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Winning On The Battleground Of CX

Victor Milligan

The customer is changing market fundamentals...and customer experience (CX) is changing operating fundamentals.

In a recent webinar, key CX analysts Moira Dorsey, Harley Manning, and Blaise James tackled how CX is changing operating fundamentals with a deep dive on the state of CX and special attention to the real implications of CX.

There is broad market acceptance that winning on the basis of experience is a customer-led mandate. You can look at the reasons why from two different angles:

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CMOs, Your Role Is Evolving . . . Are You Keeping Up?

Sheryl Pattek

I recently returned from an amazing vacation in the Galápago Islands where the impact of evolution is evident all around you. It was in the amazing Galápagos where Charles Darwin developed his theory of evolution by means of natural selection. And it might surprise you to learn that a tiny bird called the Galápagos (or more commonly Darwin's) finch played a critical role in the formation of Darwin's theories. The diversity of the various finch species and how they evolved from a common ancestor to adapt to the different food types on each Galápagos island fascinated Darwin. Although these birds act and look pretty much alike (e.g., size, plumage, behavior), there are actually 14 species with a distinctive size and shape of their beak. Some are long and narrow to get at available food in deep cracks of volcanic rock, and some are wide and short to scoop up the moss on the flat rocks by the shoreline, along with everything in between. These birds were only able to survive the harsh and unique conditions on the Galápagos by evolving to their available food supply.

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