But here's the kicker; managing leads to revenue shouldn't end with a signed contract but should continue across the entire customer life cyle. It's about turning leads into long-term loyal customers. After all, a revenue event is a revenue event; it doesn't matter if it happens from engaging with a prospect or with an existing customer.
This morning, as I was writing this blog post, I got an email from one of my colleagues, saying "Is it weird that since Google bought Nest, I no longer want one?" Her sentiment isn't that unusual because, as it turns out, plenty of people feel like Google + Nest = HAL. (It's hard to miss the resemblance)
My colleague Frank Gillett just published a post outlining a collection of ten key thoughts about the acquisition. As the privacy-identity-personal data wonk advising Forrester's marketing strategy clients, I thought I'd drill down on some of the more salient points for those issues.
My colleague Thomas Husson (Marketing Leadership) and I teamed up again to identify the most impactful and new mobile trends for 2014. (See the full report here.)
You might ask, "how does one decide what are going to be the big trends?" Good question. For me, there are several points of input. In 2013, I had the opportunity to interview close to 200 companies in the course of doing research for Forrester's next book, The Mobile Mind Shift, as well as for my own research. I spoke to some of the best and brightest enterprises (e.g., retailers, hotels), technology companies (e.g., sensors), and vendors in the United States, Europe, China, Australia, India, Japan, Korea, Canada, and beyond. I had the opportunity to do field research in China and Korea - to walk the streets, visit stores, observe consumers and interview executives about one of the most exciting mobile markets in the world. More than 40 of the interviews were in the exciting space of mobile health and wellness. Thomas and I surveyed several hundred mobile executives. I also collaborated with Thomas who has incredible breadth and depth of knowledge of Europe.
January is the month of renewed goals and better-you resolutions. Machines and classes at the gym are packed, diet and weight loss books are flying off shelves (or onto tablets), and money-saving commitments are redoubled. These are some of the more common New Year’s resolutions and, not surprisingly, are also some of those most commonly broken. The right thing to do is neither easy nor sustainable. To borrow from the poem that inspired Steinbeck, “the best laid plans of mice and men / Often go awry . . .”
Many enterprises run into this conundrum when it comes to customer experience. They talk a big game about their resolve to master the discipline of customer experience but then let existing organizational structures, budget priorities, and operational processes provide excuses that limit progress.
Today, I published a new report, “The Convergence Of Brand, Customer Experience, and Marketing,” in which I lay out the new paradigm for the connection between these three disciplines. I also offer three roles for the CMO to play in aligning brand, CX, and marketing — a strategic imperative that CMOs must take on or risk irrelevance in a world driven by the customer’s needs and wants.
The madness that is the Consumer Electronics Show (CES) has finally subsided, people are safely home (some never arrived thanks to cancelled flights), and we’ve had sufficient time to read the CES stars and foretell what it means for 2014 and beyond. Condensing this show down to so few points requires omitting some things, even some fun things like Michael Bay’s meltdown and T-Mobile CEO John Legere’s attention-grabbing tactics, but it’s my job to say what it means. So here I go, predicting what will happen in 2014 with three (admittedly long) bullets:
As the opening of the 2014 Consumer Electronic Show (CES) dawned in Las Vegas, consumer technology firms pitched their innovation wares. Forrester’s latest TRUE brand compass research shows that innovation is a key to successfully building a sustainable consumer technology brand, but that innovation alone is not sufficient.
In August 2013, Forrester conducted Consumer Technographics® research with 4,551 US online adults to uncover the drivers of a successful 21st century consumer technology brand. This research is part of Forrester’s TRUE brand compass framework designed to identify which brands are winning the battle for consumer mindshare and to help marketers build a brand that is trusted, remarkable, unmistakable, and essential (TRUE). This framework has two core components: 1) An overall TRUE brand compass ranking gives a snapshot of a brand’s resonance — the emotional connection a customer has with a brand, and 2) the TRUE brand compass scorecard reveals a brand’s progress along each of the four TRUE dimensions.
In a surprise upset, Microsoft trumped Apple and Samsung in the TRUE brand rankings. In fact, Microsoft was the only brand in the survey to achieve the coveted trailblazer status— indicating that the Microsoft brand is “at the forefront of brand building with a unique and distinct brand identity that sets it apart from other brands.” Both Apple and Samsung achieved leader status.
The Age of the Customer is upon us. And that is not hype as you know too well yourself if you have been trying to satisfy B2B buyers over the last few years.
B2B buyers today are more demanding, informed, value sensitive, and have more choices available to them than at any other point in history. After taking a beating in 2008, and over the protracted course of this recovery, a permanent change has taken place in how B2B companies buy (think groups pooling their resources to solve big business problems), why they buy (to get a result you can prove you are able to help them achieve), and what they expect in the conversations and interactions with the companies who aspire to meet their needs (in a word, empathy).
For now, let me just say the answer is not better, yet. Last year, when we asked respondents about their perception of the agenda of the sales people with whom they meet, 20% said either “they try to understand our challenges and offer suggestions” or “they are genuinely interested in partnering with us make sure our initiative is a success”. In our recently completed survey that result dropped to 14%.
We're now accepting entries for the 2014 Forrester Groundswell Awards — the deadline is February 28 — and we'd love to recognize your social marketing programs at our Marketing Leadership Forum this April. But in what category should you submit your program?
Just as in 2013, our award categories are based on Forrester’s marketing RaDaR research. Both our business-to-consumer (B2C) and business-to-business (B2B) awards will offer four categories:
Social reach. This category recognizes social programs that delivered marketing messages to new audiences. (After all, people can’t discover what you’re selling if they’re never exposed to it.) If your social program was designed to create awareness for your brand or product or promotion, it was probably an example of social reach marketing. If you focused your efforts on word-of-mouth marketing, paid social advertising, or thought leadership work, it also probably fits into this category.
Social depth. This category recognizes social programs that helped prospects explore your products in detail and make a purchase decision. If your social program was designed to close existing prospects or leads, it was probably an example of social depth marketing. If you focused your efforts on on-site social tools like blogs, ratings and reviews, or communities that help prospects get information from existing customers, it also probably fits into this category.
During 2014, we’ll pass a key milestone: an installed base of 2 billion smartphones globally. Mobile is becoming not only the new digital hub but also the bridge to the physical world. That’s why mobile will affect more than just your digital operations — it will transform your entire business. 2014 will be the year that companies increase investments to transform their businesses, with mobile as a focal point.
Let’s highlight a few of the mobile trends that we predict for 2014:
Competitive advantage in mobile will shift from experience design to big data and analytics. Mobile is transformative but only if you can engage your consumers in their exact moment of need with the right services, content, or information. Not only do you need to understand their context in that moment but you also need insights gleaned from data over time to know how to best serve them in that moment.
Mobile contextual data will offer deep customer insights — beyond mobile. Mobile is a key driver of big data. Most advanced marketers will get that mobile’s value as a marketing tool will be measured by more than just the effectiveness of marketing to people on mobile websites or apps. They will start evaluating mobile’s impact on other channels.
The Forrester Asia Pacific team is currently meeting in Bangkok to discuss how we support our clients in the age of the customer. Meeting friends and colleagues overseas is always a great experience. We get away from our desks and exchange ideas, bringing focus to our efforts for the following year. But, of course, you have to get everyone to the destination venue for this to happen.
One of the first things we always end up discussing on first meeting one of our colleagues is the quality of the journey. “How was your flight?” is the first question we end up asking each other. As I talked with two of my colleagues from Sydney, I learned that all three of us had been on the same Qantas flight to Bangkok that same afternoon. As we compared our journeys, it was amazing to discover that we had had three markedly different experiences, despite all being on the very same aircraft.
I was in economy, having paid a little extra for emergency exit seats. The flight wasn’t full, so I had a row of three seats to myself. Lots of room to spread out, and the flight was very quiet, easy, and uneventful. My experience, though, was of an older plane with technology that was, frankly, no longer meeting my minimum standard. The entertainment units were old and tiny, and the user interface was absurdly complex. But because I was comfortable, I was willing to overlook it.
One of my colleagues, the regional sales director from Australia, was one section ahead of me on the plane, also in economy. She reported a nightmare flight with no air conditioning, poor food, and crowded seats. Her experience was quite negative. We both ate the same food, but her experience of it was undoubtedly influenced by the hot temperatures and crowded seating.