Now Accepting Entries For The 2016 Digital Marketing Awards China

Xiaofeng Wang

2016 is the second year that Forrester is co-sponsoring the Digital Marketing Awards China with the China chapter of the CMO Club. The goal: Inspire Chinese marketers by highlighting innovative approaches to and best practices for digital marketing.

We’re now accepting entries online. This is our chance to recognize the very best digital marketing programs in the country, and we’d love to give an award to you for your best work. Our deadline for entries is November 18, 2016.

We are looking for digital marketing programs that clearly deliver against business goals. To determine the winners of the annual Forrester/China CMO Club Digital Marketing Awards China, we focus on how marketers use digital marketing at each stage of the customer life cycle. We create awards in three categories corresponding to different aspects of what Forrester calls the marketing RaDaR:

  • Reach: programs that generate brand visibility. Reach efforts drive discovery and awareness. These include word-of-mouth marketing, paid social advertising, and thought leadership.
  • Depth: programs that close sales. Depth programs pave the path for exploration and buying. These include ratings, reviews, and brand communities for information that helps to close existing prospects or leads.
  • Relationship: programs that build loyalty. Relationship tactics increase the loyalty and lifetime value of existing customers. These include a consistent presence on a WeChat public account and loyalty programs designed to create repeat business.
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Brace Yourself. 2017 Is Coming.

Shar VanBoskirk

Check out our Predictions 2017: The Post-Digital CMO Appears piece that just went live this morning.

We can’t help but think CMOs feel a great deal of empathy for the characters in, Game of Thrones.  Westeros is a cutthroat environment riddled with cunning strategy, but also a profound amount of character turnover, shall we say. Marketing is no less strategic, what with digital disruption, an evolving customer base, and brand strategy calculus also creating drama and departures.

So in 2017,  what will smart  CMOs do to survive until  2018? CMOs must demonstrate their  brands’ promises everywhere.  Specifically:  evolve their brand and CX strategies to close the distance between brands.  We expect that:

Brands will go Post Digital. To customers, there are no longer boundaries between the digital and the physical worlds.  CMOs who get this will work to connect with customers emotionally, create one-to-moment, personalized interactions, and  stress a human, helpful, and handy charter as the guiding principles of their marketing efforts.  

Organizations will update talent and structure. The scramble to do the right thing by empowered customers next year will finally force CMOs to consider the skills shortage ever-present on their teams.  This will lead to much needed training of existing talent and realigning teams with brand visions and customer needs.

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How Are Hotels Embracing Mobile Moments?

Xiaofeng Wang

Mobile is changing travelers’ behaviors and expectations worldwide, making mobile moments the next battleground for hospitality and travel industry. Following up on my earlier brief for airlines, my latest Brief: Hotels Differentiate With Mobile Moments shows hotel brands how to better embrace mobile moments.

Hotel customers’ usage of mobile is increasing rapidly all over the world. They use mobile devices for multiple hotel-related activities beyond booking, such as using their mobile as a room key, ordering services, and controlling smart hotel rooms. Hotels have the urgency to embrace mobile moments because they need to:

  • Keep up with the fast-changing behaviors and expectations of mobile travelers. The bar is higher: Services that hotels are starting to offer, like using mobile phones as room keys, are no longer that new to mobile-mind-shifted travelers.
  • Deal with increasing mobile competition from online travel agencies. Large online travel agencies and travel aggregators are consistently creating better mobile services and experiences for consumers and providing more options at the discover, explore, and buy stages than hotels do.
  • Manage a complex, fragmented ecosystem to deliver consistent mobile experiences. Travelers experience a hotel brand through multiple mobile touchpoints; these interactions also occur before, during, and after the stay. Aligning all of these touchpoints under such conditions is a challenge and often takes more time and effort.
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Predictions 2017: The Year Of Action

Cliff Condon

Your business model is under attack. And it’s not by your competitors. It’s under attack from your customers. Three years ago, Forrester identified a major shift in the market, ushering in the age of the customer. Power has shifted away from companies and towards digitally savvy, technology-empowered customers. They now decide winners and losers: Our Empowered Customer Segmentation shows that more than a third all US online adults want new and engaging digital experiences. They will switch companies to find these experiences. In this environment, being customer-obsessed can be your only competitive strategy.   

In Forrester’s 2017 Prediction Reports, we are tracking firms’ progress on their customer-obsessed journeys. In our annual collection of predictions, we look at business strategy, leadership, customer experience, and technology dynamics to examine progress and predict the key events, changes, and trends that will occur in 2017.

Here are three key findings from our 16 predictions reports:

  • The next wave of Customer Experience will have a profound impact on firms’ P&L: The shift to a customer-led market represents an immediate and prolonged threat to company survival. Our research shows a clear correlation between the quality of customer experiences and revenue growth; it also affirms that emotion is a core driver of customer loyalty and spending. The next wave of CX will connect these dots, blending analytics, technology, and design to evoke emotions to drive affinity and directly impact revenue.
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Media Agencies Must Provide Value Beyond Buying

Sarah Sikowitz

Changes in consumer behavior and technology are driving seismic shifts in media buying. Marketers are feeling this acutely as they reach out to media agency partners for strategic support and solutions. At the same time, media agencies are struggling to carve out ways to differentiate — broadening capabilities and moving into new marketing realms. 

The result: a crowded market where it’s difficult to identify which agency partners can strategically engage customers through paid media.

In our Vendor Landscape: Media Buying Agencies (subscription required), we surveyed marketers and over 40 agencies and found an environment where efficient buying is table stakes.

Marketers want media agencies to provide value beyond planning and buying with:

  • Data-driven strategies
  • Cross-channel measurement
  • Creative ideas
  • Unprecedented, but necessary, transparency

Marketers should read this report to understand how media agencies are evolving and what to prioritize in the agency selection process.

I am currently taking inquiries and offering advisory on this topic.  Please reach out to learn more or share your experience in media agency selection.

The Forrester Wave: Marketing Measurement and Optimization Solutions, 2016

Jim Nail

Gone are the days of marketing mix providers.  So long cross-channel attribution technologies.  There’s a new sheriff in town—Marketing Measurement And Optimization Solutions.

Today, Tina Moffett and I are excited to publish The Forrester Wave: Marketing Measurement and Optimization Solutions, 2016.  The 2016 Marketing Measurement and Optimization Wave combines the previous Marketing Mix Modeling Wave and Cross-Channel Attribution Wave.  This report evaluates 10 vendors on current offering criteria, strategy, and market presence. 

Why did we take this “unified” approach to marketing measurement?  Customer data deluge is putting pressure on marketers to measure the effectiveness of ALL marketing initiatives, across each customer.Marketing mix modeling and cross-channel attribution each provide deep marketing performance insights but each fell short in providing what marketers urgently need: a singular view of marketing performance.

Over the past 18 months, Forrester saw a dramatic shift in solutions; traditional marketing mix modeling measurement providers were investing in technology and methodology develop for attribution and we dubbed this “Unified Marketing Impact Analytics”

This inaugural wave helps marketers make sense of this complex landscape of top providers in the measurement space. By virtue of offering a unified approach today, these 10 vendors are the creme de la creme. We expect to see this landscape evolve, with new players entering into the space and mainstays evolve their core offering even further.

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The Forrester Wave: Marketing Measurement and Optimization Solutions, 2016

Tina Moffett

Gone are the days of marketing mix providers.  So long cross-channel attribution technologies.  There’s a new sheriff in town—Marketing Measurement And Optimization Solutions.

Today, Jim Nail and I are excited to publish The Forrester Wave: Marketing Measurement and Optimization Solutions, 2016.  The 2016 Marketing Measurement and Optimization Wave combines the previous Marketing Mix Modeling Wave and Cross-Channel Attribution Wave.  This report evaluates 10 vendors on current offering criteria, strategy, and market presence. 

Why did we take this “unified” approach to marketing measurement?  Customer data deluge is putting pressure on marketers to measure the effectiveness of ALL marketing initiatives, across each customer.  Marketing mix modeling and cross-channel attribution each provide deep marketing performance insights but each fell short in providing what marketers urgently need: a singular view of marketing performance.

Over the past 18 months, Forrester saw a dramatic shift in solutions; traditional marketing mix modeling measurement providers were investing in technology and methodology develop for attribution and we dubbed this “Unified Marketing Impact Analytics”. 

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Salesforce Closes their Marketing Cloud Gap with Krux

Susan Bidel

Posted in collaboration with Richard Joyce and Joe Stanhope, with Melissa Parrish.

 

With 150,000 customers, Salesforce, one of the world’s largest providers of customer relationship management (CRM) technology, is a trusted steward of its clients’ first-party customer and sales data. In acquiring Krux, a data management platform that ranked as a Leader in Forrester’s November 2015 Data Management Platform Wave, Salesforce supplements its capabilities with more substantial analytics, artificial intelligence tools, marketing data, and digital audience capabilities and positions itself as a significant competitor to other marketing cloud vendors like Oracle and Adobe. This is a smart acquisition for Salesforce, as Krux is a well regarded vendor in the DMP space, and it fills in a increasingly obvious hole in their Marketing Cloud offering.

The Krux buy, came in at a reported cost of $700 million, according to the Wall Street Journal.just about double the cost to Oracle of BlueKai 18 months ago. The DMP aggregates, normalizes, segments, and syndicates data for approximately 200 marketers and publishers, making 1st, 2nd, and 3rd party data available for marketing and advertising .

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Here Are Your Native Advertising Options Mapped Out

Ryan Skinner

Native advertising corresponds to many types of advertising, from paid search and social ads to the sponsored editorial offerings from media companies. Put simply, it’s confusing as hell to understand.

Success at native means both the user of a media site or app and the advertiser explicitly get value out of the experience. To understand if a particular kind of native advertising is going to be successful, marketers should assess four criteria: Format, reach, context, and identification.

The seven core types of native advertising** all function to varying degrees against these criteria.

For example, the paid search ad is a proven format that generates a reasonably predictable response rate; an in-feed ‘click to play’ cinematograph will be less predictable, and probably less reliable. Pinterest’s promoted pins provide considerable reach for some populations; a native ad appearing programmatically in apps and targeted for a specific behavior may have far lower reach. Likewise, there’s wide variety for context and identification.

To help marketers make smart decisions, we broke down all seven native advertising types against these four criteria, and explored compelling examples of each. For Forrester clients, have a look at the analysis – our Vendor Landscape: Native Advertising Technologies, Q3 2016. Not a client? This’ll have to do as a teaser. 

*** those seven types: paid search, paid social, in-feed exchanges, native ad vendors, publisher networks, publisher-specific custom native, and influencer activation.

The Trust Crisis in Advertising

Jim Nail

Facebook's admission that their video viewing numbers have been inflated for two years is one more shoe dropping in an ongoing breakdown of the relationships between advertisers, agencies and media companies in the advertising ecosystem. Coming after the ANA's work on transparency, and the unresolved issue of fraud in the programmatic ecosystem, this points to a larger, more fundamental problem in the advertising industry.

I won't try to diagnose them all (my colleague Sarah Sikowitz did a good job on the agency transparency issue on her blog). And I won't even go into the fact that the agencies didn't challenge these bogus counts. 

But I have a word of advice for the digital industry: stop obsessing over bits and pixels and clicks (Oh My!). I've been in digital for 20 years and by now the industry should have learned that no matter how readily available this data is, it is meaningless relative to what advertisers really want to know: is my message getting through and having an impact? I may sound old fashioned, but in contrast to these irrelevant, spurious, and potentially inflated data, I'll take a good-old exposed/unexposed ad communication/awareness/attribute association/purchase intent lift survey any day.

True, I give up the individual-level data the digital prides itself on. But if the data is this weak and subject to manipulation, it is at best an inaccurate view of ad performance and likely to be downright misleading.

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