Insights From The Digital Gold Mine

Clement Teo

Most CMOs today have to close gaps in data collection within and across marketing units, integrate the data to transform it into actionable insights, and foster a closer working relationship among these units to achieve the overarching business goals. Building a command center may be a distant priority.

However,  I have argued that digital command centers are intelligent nerve centers that let brands quickly track digital moments and respond appropriately to manage their reputation, retarget display ads, drive new sales opportunities, and provide customer support. In effect, it’s a marketing organization’s digital gold mine. On a broader scale, this marketing capability will importantly feed into an entire firm’s system of insights.

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The Data Digest: Emotion Is The Hidden Driver For Consumer Choice

Anjali Lai

Here in the US, we’re gearing up to celebrate July 4, the day that everyone knows signifies America’s independence. But most people don’t know that the 1776 congress didn’t actually declare American independence on July 4. This date didn’t mark the start or end of the American Revolution. America’s Declaration of Independence wasn't even written, signed, or delivered to Great Britain on July 4.

We celebrate July 4 in the name of tradition — and we defer to assumptions rather than unearthing the true story. But when we dive a level deeper and look beyond the surface, we gain new depths of insight. When it comes to understanding customers, it’s time to take a deeper look.

The role of emotion is one of these “unknowns” in consumer behavior: An incisive view into consumer behavior reveals that emotion is more powerful than commonly thought. More than a mood, emotion is a key driver of customer decisions, actions, and perceived experiences —and pervades each stage of the purchase life cycle. For example, Forrester’s Consumer Technographics® data shows that Etsy inspires extremely positive consumer sentiment before, during, and after making a purchase: 

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The Power To Predict Can Give B2B Marketers An "Unfair Advantage"

Laura Ramos

When Sir Francis Bacon, coined the aphorism "Knowledge is power", he didn’t foresee a 21st century where technology and data science would more automatically and immediately turn knowledge into insight. Today, the phrase “Prediction is Power” may be more appropriate.

My colleague Mike Gualtieri works with applications developers and has been looking at the power that predictive analytics can infuse into a myriad of business applications these developers may encounter.

What I found fascinating about his recent research is that the example he chose a marketing example (Figure 1, subscription required) to demonstrate this power.

At Forrester, we define predictive analytics as:

Techniques, tools, and technologies that use data to find models — models that can anticipate outcomes with a significant probability of accuracy.

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Plan Your Summer Vacation Around Customer Experience Inspiration

Rick Parrish

It’s finally here. That time of year when seemingly half of the federal workforce flees DC for a well-deserved vacation. It’s a magical time for those of us who stay behind: Less traffic shortens our commutes, the Starbuck’s and food truck lines are shorter, and fewer people at meetings means more decisions get made.

But the feds heading out for vacation are happy, too. They hope to return refreshed and re-energized. This year, I hope they will also come back inspired with new ideas for improving the federal customer experience (CX). To help them find that inspiration, I’ve put together this list of travel tips:

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The Customer Experience Portfolio

Jennifer Rice

Who are your priority customers, and how do you serve them? Classic brand and customer experience theory says to focus on the “best fit customer” to drive relevance, yet it is rare to find a case where pleasing only one customer type can help achieve your goals. Case in point: When I took this position at Forrester, I started flying . . . a lot. Yet my 25,000 miles in three months on a certain airline didn’t align with its preset qualification period, so I didn’t receive status, nor am I recognized in any way when I fly with this airline. That lack of recognition undermines loyalty, yet I’m precisely the type of customer whose loyalty it should be eager to gain.

This airline puts emphasis and resources into maintaining an improved experience for its defined priority customer — existing loyalty program members — and doesn’t consider the experience for attracting new customers like me into the fold. While it has a terrific app, the rest of its relatively generic flying experience (including Wi-Fi on only one of 10 flights I’ve taken) does little to motivate me, or any business traveler, to choose this airline over another brand.

When Portfolio Thinking Comes Into Play

It’s true that by trying to be all things to all people, you become nothing to anyone. Imagine Apple trying to appeal to both innovators and technology laggards or Southwest Airlines trying to cater to both bargain and luxury fliers. It doesn’t work. Good brands have the courage to stand for something.

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It's Here...The Forrester Wave: B2B Commerce Suites, Q2 2015

Andy Hoar

I’m pleased to announce the release of "The Forrester Wave: B2B Commerce Suites, Q2 2015." Peter Sheldon and I last took a deep dive into the space in 2013, and since then we've seen B2B grow both in size and importance.  

However, today's B2B environment is more complex, crowded, and competitive than it was in 2013. B2B buyers now insist on an "Amazon-like" customer experience with real-time interaction, extensive price and inventory transparency, and robust guided selling.  B2B companies are still plagued by both internal and external channel conflict, which in many cases is impeding their forward progress with digital. And not only are offline companies moving online, but omnichannel competitors in adjacent categories and pure-play online sites are entering select markets as well. 

It was against this backdrop that Peter and I evaluated several top B2B Commerce vendors. We found once again that hybris (an SAP company), IBM, Oracle Commerce, and Intershop led the pack. But this time around, Insite joined their ranks.  NetSuite returned as a strong contender and was joined in that category by eBay Enterprise (Magento).  New to both the B2B commerce space and our Wave evaluation is CloudCraze, a company offering eCommerce as a native application within the Salesforce environment.  

As Peter Sheldon outlines in detail in his blog post:

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Introducing the Forrester Wave for Content Marketing Platforms

Ryan Skinner

Once you scale beyond a couple contributors and teams, it gets messy.”
– Content marketing leader at Intel

That’s as succinct a summary as you’ll get for the pains of contemporary content marketing. Even as marketers flock to it, experienced practitioners know of content marketing’s side effect:  An unmitigated mess, with lots of people producing piles of content all at the same time, all over the world.

Cue the Content Marketing Platform, or CMP. CMPs emerged to bring order to this cross-channel, cross-organizational, cross-brand, cross-geography, cross-everything content mess, by putting all the people working on content in to a common and shared space.

It’s against this relatively nascent CMP category that we just published a Forrester Wave report.

[Editorial note: Forrester publishes approx. 50-60 wave reports per year, or about one per week on average. Of those, only about a dozen each year are entirely new. This is one of the latter.]

The CMPs assessed in this report – Contently, DivvyHQ, Kapost, NewsCred, Oracle, Percolate, PublishThis, RebelMouse, and Skyword – can cite content marketing giants as part of their client list like: GE, Pepsi, Marriott, BlackRock, IBM, Dell, Diageo, Unilever, MasterCard, and Colgate-Palmolive. And they are picking up new ones relentlessly; as a group, they’re doubling software revenue year after year.

To pin down exactly what CMPs do, here is Forrester’s definition:

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Amazon And The Rise Of eCommerce In Mexico

Zia Daniell Wigder

Today Amazon launched full force in Mexico with items ranging from baby products to electronics to sporting goods—for the past two years, the company has sold only eBooks on its localized site in the country. Why Mexico now? 

Mexico’s eCommerce market has risen on global brands’ priority lists. When it comes to eCommerce, Mexico is the India of Latin America: a small, early-stage market that has been overshadowed by rapid eCommerce growth in a much larger neighbor (Brazil in the case of Latin America, China in Asia). However, Mexico’s time has come. As Brazil’s economy has slowed to a halt, Mexico’s continues to grow—at the same time, the cost and complexity of operating in the Brazilian market has become apparent, leading many US and European brands to turn their attention north to the region’s second largest economy. In 2014 alone, Orange, Zara, Home Depot, Lowe’s and Williams-Sonoma all rolled out eCommerce offerings in Mexico.

Driven by a variety of different categories, the online retail market is growing rapidly. We often talk about eCommerce markets evolving in four phases (see graphic below). Mexico has very much followed this trajectory. Early-stage online purchases were largely in the travel sector—then as consumers started to make physical product purchases online, they gravitated to categories such as consumer electronics and computer hardware. Going forward, these categories will continue to grow but they will be augmented by later-stage categories like apparel, beauty and grocery. We expect Mexico’s total online retail market to grow by a CAGR of 19% between 2014-2019, reaching almost $7 billion by 2019.

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Customer Experience News: This Week In Congress

Rick Parrish

Each Congress considers over 10,000 bills, and virtually none of them ever explicitly focus on customer experience (CX). However, some bills do have implications for federal CX. And although just 3% of bills ever become law, federal CX advocates should stay informed of proposals from the start. That way, we can suggest improvements, help good ideas become law, and plan for what happens when they do.

That’s why I’m starting this new weekly blog series. Every week while Congress is in session, I’ll take a look at a few new bills that could affect federal CX and offer my initial thoughts on each. I hope my views start a weekly conversation about which bills seem most promising for federal CX and the overall role Congress should play in improving the federal customer experience.

Let’s begin by taking a look at two bills that House leadership recently assigned to committee:

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Announcing Forrester’s 2015 B2B Commerce Suites Wave

Peter Sheldon

Twenty months have passed since Forrester last published our Wave evaluation of the leading B2B commerce suite vendors. During that time much has changed. B2B eCommerce transactions in the US have grown 40% from $559b in 2013 to reach an estimated $780b by the end of 2015. Furthermore, 74% of B2B buyers now research and 30% now buy at least one-half of their work purchases online. Manufacturers, distributors and wholesalers alike are investing heavily in next generation enterprise B2B commerce technology to ensure they are delivering world-class online buying experiences that are able to scale for anticipated growth. As a result of this wave of investment, manufacturing and wholesale trade firms will spend more on commerce technology by the end of the decade than their peers in B2C retail.

As eBusiness teams look for solutions in the market, not only are they benchmarking their future state online buying experience against B2B peers like Grainger, but also against B2C leaders like Amazon and Wal-Mart. This means they need solutions with a best-in-class foundation of B2C features such as robust marketing, merchandising and experience management tools upon which unique B2B capabilities such as contract pricing, quotes pricing lists, eProcurement, product configuration and customization, guided selling, bulk order entry, dealer management, and account, contract, and budget management are then layered on top.

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