Showing posts with label Forrester Research. Show all posts
Showing posts with label Forrester Research. Show all posts

30 December 2016

BUSINESS - Emotional Decision-Making in the Digital Marketplace

Humans are emotional creatures.

Emotions, both positive and negative, are naturally occurring responses to situations, and science has even determined why humans have emotions – they act as motivators.

As How Stuff Works puts it, “From an evolutionary standpoint, emotions are the agents of change and reaction.”

Emotions motivate our decision making as well.

Neuroscientist Antonio Damasio found that, “Emotion may well be the support system without which the edifice of reason cannot function properly and may even collapse.” 

What this means is that emotions are as much, if not more, integral to human decision-making as logic and reason.

What does that mean for marketers and businesses in the world of mobile commerce?

According to Forrester, it means that consumers, who have always been emotional and whose emotions have always influenced their purchasing choices, now have “the power, willingness, and ability to take action when provoked by a great or poor experience.”

Their research indicates that among hotel customers, 90% would advocate for the brand if they felt valued, 67% plan to increase spending with the brand, and 87% plan to stay with the brand.

In contrast, TV service customers, who often feel annoyed at their provider, had very different numbers. Only 8% would advocate for the brand, and merely 13% and 15% planned to increase spending or stay with the brand, respectively.

Customers’ emotional experiences with the brand have a significant impact on their willingness to continue spending.

In a market that makes switching easy and frictionless, those emotional experiences can have an immediate impact on a business’s bottom line.

Although emotions drive decision-making, not every consumer will behave the same way given an emotional experience.

Forrester has segmented consumer types into Progressive Pioneers (20%), Savvy Seekers (17%), Convenience Conformers (30%), Settled Survivors (16%), and Reserved Resisters (18%).

These consumer profiles give insight into how likely a customer is to seek out, or resist, change.


It is the 40% of the market that is made up of Progressive Pioneers and Savvy Seekers that marketers really need to worry about losing as a result of an emotionally negative experience.

These consumers are motivated to seek out change and innovation, and they know what they can expect from adaptive, responsive brands.

Convenience Conformers, a full 30% of consumers identified by Forrester, are also likely to switch brands if the emotional experience and convenience are not acceptable.

So, how does a brand maintain positive emotional connections with consumers, especially given the decrease in face-to-face interactions as a result of the digital marketplace?

One suggestion is to move from a transactional model to one of interactions.

Give customers a story-worthy experience of interacting with your brand, and focus on helping customers feel important. The effectiveness of this is evidenced by the hotel customers and their loyalty to the brands that made them feel valued.

Brands and marketers can also learn from video gaming, where monetizing emotional responses has been honed to a fine art.

Game designers know that players want a sense of social interaction, and a feeling of personal empowerment – these strategies can also be incorporated into the marketplace experience.

About Tiffany Sostar
Tiffany is a writer, editor, academic, and animal lover who came late to her appreciation of pets. At 18, a rescue pup named Tasha saved her from a depression and she hasn't looked back. She has worked as the canine behaviour program coordinator for the Calgary Humane Society, and was a dog trainer specializing in working with fearful and reactive dogs for many years. She doesn't have any pets right now, but makes up for it by giving her petsitting clients (and any dogs she comes across on her frequent coffee shop adventures) extra snuggles.


13 December 2016

DIGITAL - Predicting the Future of the Internet of Things

As the year comes to an end, experts are making predictions for 2017.

Forrester released their report - Predictions 2017: Security And Skills Will Temper Growth Of IoT - to help companies tackle the rapidly changing Internet of Things (IoT) landscape to deliver and enable connected products and businesses processes.

Their predictions include:
  • IoT will be distributed across edge and cloud, boosted by Artificial Intelligence (AI) and containers
  • The first prototypes of smart contracts built on blockchain
  • AI and machine-learning cloud services will increasingly be used to mine the data coming from IoT devices
  • There will be a large-scale IoT security breach
  • Hackers will continue to use IoT devices to promulgate DDoS attacks
  • IoT will simultaneously shrink and enrich mobile moments.

UK magazine Infosecurity agrees with Forrester’s predictions about security issues, quoting experts from Bitdefender, a data security company.

“We will see a marked rise in IoT attacks against individuals and companies alike, continuing trouble with encrypting ransomware, IoT botnets, adware and the revival of darknet markets for illegal goods and services.”

The growth of blockchain is also being predicted by Database Trends and Applications Magazine with their 10 Big Data and IoT Predictions for 2017.

Blockchain transforms select financial service applications...For enterprises, blockchain presents a cost savings and opportunity for competitive advantage. In 2017, there will be select, transformational use cases in financial services that emerge with broad implications for the way data is stored and transactions processed.”

Database Trends and Applications experts go on to predict big data and IoT will evolve to help businesses prosper during uncertain times in five ways:

“Self-service data prep will unlock big data’s full value; organizations will replace self-service reporting with embedded analytics; IoT’s adoption and convergence with big data will make automated data onboarding a requirement; 2017’s early adopters of AI and machine learning in analytics will gain a huge first-mover advantage in the digitalization of business; and cybersecurity will be the most prominent big data use case.”

The continued growth of IoT is definitely not in question - IoT was the number one search topic not only among CIOs but across all Forrester clients over the past six months.

Read the entire article about Forrester’s IoT 2017 predictions.




16 November 2016

BUSINESS - PetSmart's New Website Boosts E-Commerce

PetSmart Inc. has launched an improved, mobile friendly website with new features including same-day delivery and subscription services.

Many see these improvements in e-commerce as a direct step to compete with companies like Amazon, which has been dominating the US online pet food market.

Forrester Research has predicted the fastest online category growth will continue to come from the pet category, which prompts brick and mortar stores to step up their online retail game.

The new site includes features such as one-page checkout and new tailored delivery options like recurring subscription-based shipping, scheduled delivery and same-day delivery.

All the improvements are aimed at letting pet parents shop how, when and where they wish, which demonstrates a customer-centric approach that should benefit the company.

“Our omnichannel strategy is aimed at giving pet parents options tailored to their needs and desires. We look forward to seeing their response to the new site with its new user experience and commerce-meets-content approach,” Eran Cohen, chief customer experience officer, PetSmart said in a release.

The new shipping options are provided by last-mile logistics provider, Deliv, a company that powers same-day delivery for over 4,000 businesses.

By mid November, PetSmart customers located in 17 of Deliv's markets can shop on PetSmart.com and select scheduled delivery on the product page for anything from 50 pound bags of dog food to bulky containers of cat litter or a fun pet fashion accessory like a hoodie, collar or leash, as well as seasonal holiday items.

05 November 2016

DIGITAL - More Consumers Using Social Media to Connect With Businesses

One is hard-pressed to make the argument that social media doesn’t matter.

There are few business models left that can’t benefit from some social media exposure, marketing or advertising.


According to studies conducted by Forrester research, adult savviness with respect to social media is on the rise – up three per cent from 37 to 40 per cent.

Other key findings made by the research firm include the discovery that 31 per cent of consumers are in constant use of social media to connect with businesses, a four per cent increase from 2015.

Sixty-nine percent of these consumers buy online and on mobile.

According to Hootsuite, a popular social media marketing and management dashboard, one of the greatest advantages to businesses is building brand/product loyalty:

“A study by The Social Habit shows that 53 per cent of Americans who follow brands on social media are more loyal to those brands.”

For the less technologically-savvy social media user, dashboards such as Hootsuite can alleviate overwhelming decisions of what platforms to use and when, as the ‘one stop shop’ allows users to post using one system to a number of platforms at the same time.

The optimization tools also allow its users to schedule posts ahead of time, therefore optimizing traffic flow and resulting in more targeted leads.

Built-in analytics allow for better tracking to ensure your audience is achieving best results though interacting through your website/social media platforms.

Networking, piggyback advertising and creating repeat business lies in the sharing of content, frequency of use and paying it forward (sharing posts from other industry members, colleagues); this big picture approach has longer-term benefits and helps establish better branding.

Market research indicates more investment into the social media marketplace in the future.

According to Entrepreneur.com: “recent research from Econsultancy shows that 71 percent of brands plan to invest more heavily in social media in the coming year to reach new followers and build brand reputation.”

The blog continues on to rank their top picks for platforms, as they relate to promoting brand awareness, with Facebook leading the pack and appealing to the broadest spectrum of users.

Instagram is ideal for image-based branding – clothing retailers or foodies; Google+ is shaping up to be a good tool for connecting with men in the technology sector (research indicates that two-thirds of its users are men in this industry); Pinterest, much like Instagram, notes higher success rates for women-dominated industries such as clothing and jewelry; and LinkedIn is a strong platform for business-to-business corporate users.

Keep it visual. According to Entrepreneur.com: “Articles with images receive 94 per cent more views. Twitter content with images receives nearly twice as many views as text posts, even though there are seven times more text posts on Twitter.”

Above all, the leverage for business owners in using social media platforms is about creating a level of interaction between their business and users – publishing engaging content, offering freebies, or discounts that entice users to ‘like’ the business page, posting strong visuals – these are all potentially lucrative methods to increase online presence and ensure your business is current.

By Lindsay Seewalt
Lindsay is an experienced journalist and mother of three whose heart and home is always open to a four-legged friend. With her Corgi, Angie, as household editor-in-chief, Lindsay gives back to the animal planet through the written word on anything and all ado about pets. She is passionate about topics regarding animal welfare and responsible pet ownership, which she aims to instill in both her readers and children to be compassionate animal lovers who are conscious and considerate that furry friends around the globe deserve a voice.


21 September 2016

BUSINESS - Post-Digital Age Presents Marketing Challenges

Have we entered the post-digital age?

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Reading this post on a digital device – your computer, smartphone, tablet, or even smart tv – the question of whether humans have entered the post-digital age may seem counter-intuitive.

And, indeed, arguments have been made that it is not the end of the digital age, but the beginning.

David Sable, the CEO of leading global communications company Y&R, believes that “we are only at the very beginning of what’s digital. We wake up every morning to new technology and stunning new applications.”

Sable calls this new technology and its new applications, many of which tie into the Internet of Things to further blend the physical and digital worlds, “digital exponential.”

A Peer Reviewed Journal About (APRJA) is an open-access journal that publishes scholarship on “key aspects of contemporary digital culture” and featured a special issue on post-digital research in 2014.

In that issue, Florian Cramer wrote that “the term ‘post-digital’ can be used to describe… a contemporary disenchantment with digital information systems and media gadgets.”

American tech and market research company Forrester recently hosted Forrester’s Marketing 2016 with a focus on marketing in a post-digital world.

One of the key takeaways from the event was the mantra to “Be human, be helpful, and be handy.” The consumer’s disenchantment with digital information systems is evident here – in most cases, a bot is not the answer.

Whether framing the current shifts as post-digital or as digital exponential, what’s clear is that consumer behaviour is changing.

Trust is built slowly, and lost quickly. Consumers adopt new brands and technology quickly, and abandon them just as quickly.

Consumers are accessing digital information more frequently than ever – 80% of internet users have a smartphone, and within that demographic, 89% of their time is spent in mobile apps.

This is the other definition of post-digital – a world in which digital engagement is so ubiquitous that it is no longer differentiated, because it is fully integrated.

This presents challenges for marketers because although it may be true that digital life is so fully embedded that marketing must seamlessly bridge online and offline, it is not true that marketing strategies have kept up.

Adapting to a new generation of consumers that expects instant results and human responsiveness is an expensive, daunting proposition.

Forrester suggests five key strategies.

Adopt a post-digital mindset (adaptability), understand customers’ moments (responsiveness), win customers’ trust (reliability), engage with customers in context (integration), and lead the change (innovation).

Although navigating the post-digital/digital exponential presents unique challenges, it also presents unique opportunities.

With consumers being online all the time through their smartphones and other connected devices, the opportunities to engage are everywhere.

Google, Apple, Amazon and Facebook are all vying for what Forrester’s Carl Doty refers to as “customer moments,” which are fleeting moments of potential marketing engagement. This could be the opportunity to suggest a restaurant or activity, or respond to a customer’s physical location with marketing opportunities.

In these moments, the consumer is already using their mobile device to make decisions, and the marketing opportunity is completely dependent on already being present in the mobile environment.

By Tiffany Sostar
Tiffany is a writer, editor, academic, and animal lover who came late to her appreciation of pets. At 18, a rescue pup named Tasha saved her from a depression and she hasn't looked back. She has worked as the canine behaviour program coordinator for the Calgary Humane Society, and was a dog trainer specializing in working with fearful and reactive dogs for many years. She doesn't have any pets right now, but makes up for it by giving her petsitting clients (and any dogs she comes across on her frequent coffee shop adventures) extra snuggles.

06 September 2016

BUSINESS - Optimize Your Customer Journey Through Mobile

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Customers don’t just enter your business through the front door anymore. There are websites and numerous social media channels that can bring customers in.

And mobile has caused a huge shift in how customers engage with businesses.

Now you have to understand mobile users’ habits and behaviour so you can maximize sales and engagement. A new customer path has to be carved as businesses strive to be continually engaged with consumers.

So, how do you integrate mobile initiatives into your customer experience strategy?

IBM and Forrester Research have joined forces to offer a webinar - Top Ways to Influence and Optimize the Customer Journey Through Mobile Touchpoints - on Tuesday, September 13th.

Guest speaker Julie Ask from Forrester Research will share case studies and discuss how you can influence customers' decision-making and streamline their journeys through seamless mobile experiences.

You will learn:
  • How companies in different industries benefit from mobile moments and mobile touchpoints to improve overall customer journey
  • How mobile impacts customer journeys, online and offline
  • How customer behavior and preferences impacts future decisions
  • What you can do to influence and guide customers to stay on track of their journey with mobile experiences and engagements.

As customers move away from following traditional paths to your company, this webinar could help you avoid missteps in the mobile market.

Register here.