By Huang Yue
Commerce is inherently global. But now, with changing demographics and advances in technologies as well as regulations, cross-border shopping is really picking up steam.
For evidence that global shoppers are getting savvier online, one need only look to last year’s Black Friday shopping day in which U.S. retailers successfully exported to shoppers in the U.K., France and China. Likewise, U.S. merchants adopted China’s popular Single’s Day and attracted Chinese shoppers.
Globalization is driving brands to transact more frequently across borders, and consumers are increasingly using e-commerce and m-commerce services for their overseas purchases as well. The U.S. is the most popular place for non-nationals to purchase from — an astonishing 84% of Chinese cross-border shoppers have purchased from U.S. vendors. But the U.K. is the next most popular place global shoppers buy from, followed by China and Hong Kong. Canada, Germany and Australia are also popular choices. Continue Reading »
By Loren McDonald
A recent joint study conducted by IBM and Econsultancy titled, The Consumer Conversation, is shining new light on a growing gap between the messages marketers are sending out and what their customers are actually receiving.
In the old world of marketing, the path-to-purchase was straight and narrow. Marketers based communications on their own marketing calendar, not necessarily on what was best for the consumer. But today’s path is far more complex, with marketers and entire organizations tasked with engaging an increasingly elusive customer when it’s best for the customer. Succeed at this, the theory goes, and every interaction is relevant, targeted and personalized. Continue Reading »
By Kirill Korniliev
Financial institutions are beginning to fully grasp the banking habits of millennials and are rethinking their customer experience to better engage with a generation that uses their smartphones for everything – the first true digital natives.
Millennials do have financial needs, but their goals are altered by the cultural shifts of their generation – more social, more eco-sensitive, and maybe less focused on accumulating wealth.
Their goals include experiences and contributions as much or more than mortgages and financial planning. They haven’t had time for long standing financial relationships. And when it comes to technology, mobility and convenience, millennials have high expectations that financial institutions will need to fulfill if they hope to maintain relevance with this target market and capture a huge market opportunity. Continue Reading »
By Nick Adams
For today’s customers, online engagement is often the first point of contact with a brand and sometimes their only measure of customer service.
At Telstra, we recognized that as part of our continual customer focus, we needed to establish a two-way digital dialogue with our customers and get better at delivering a seamless, multi-channel experience. We also wanted to meet their changing expectations and speak to them on a more personal level.
To do it, Telstra embarked on a data-driven digital overhaul in 2011. Back then all 1.8 million weekly visitors to the Telstra website were being presented the same digital experience. The discrepancy between online and offline interaction was not acceptable – for us as a company, for our staff and our customers.
Together with IBM, we strengthened our CRM capabilities and developed a first-of-a-kind Enterprise Marketing Suite. The result is a 360 degree view of customer engagement and the capability to deliver targeted, real-time marketing, and ultimately, higher satisfaction levels for our customers. Continue Reading »
By Yolanda Wang
Even in a world where consumers consult multiple online sources for every purchase they make, the store associate remains the most important face of the retail establishment.
With over 70 percent of shoppers making their most recent purchase in a brick-and-mortar store, it makes good sense for retailers to invest in tools that allow their store associates to provide individually-tailored, real-time customer engagement.
Lately, that’s meant simple and intuitive mobile apps that can turn even inexperienced associates into expert advisors equipped with insights drawn from data and analytics, the collective intelligence of the enterprise, the latest market trends, and data specific to each customer.
And that’s just for openers, because retail customers want more savvy associates who can ensure each shopping trip has a successful outcome. According to IBM’s recent retail study, the number of consumers who consider it important for an associate to solve an out-of-stock problem via a mobile device increased from 41 to 46 percent in the past year. Continue Reading »
We all knew it was coming eventually and IBM predicted it would happen this year as it indeed did – more Thanksgiving shoppers turned to their mobile devices than their desktops to browse through all of the Thanksgiving deals.
Specifically, from IBM Digital Analytics Benchmark we saw 52.1 percent of traffic on Thanksgiving coming from mobile devices, a 22 percent jump from last year. Even more incredibly, if you go back to 2010 only 6.5 percent of traffic came from mobile. That is an eight-fold increase in traffic over only four years.
With regard to sales, mobile devices accounted for 32.3 percent, which percentage-wise was an even greater year-over-year increase at 25.4 percent than the observed increase in mobile traffic. Continue Reading »
By Shanker Ramamurthy
In an era that is highly digitized, there’s no shortage of data for organizations to consume and leverage. But, while speed-to-action should be a given, it’s only recently that the value driver for Big Data has shifted from volume and variety to velocity and veracity.
Capabilities that enable an organization to consume data faster – to move from raw data to insight-driven actions – are now the key differentiator for organizations investing in data and analytics.
According to “Analytics: The Speed Advantage,” a new study completed by the IBM Institute for Business Value (IBV), 74 percent of global businesses and IT professionals anticipate the speed at which business executives expect new, data-driven insights will continue to accelerate. Continue Reading »
By Robert Griffin
“Fraud is a normal cost of doing business.”
Any organization that subscribes to this long-standing mantra needs to rethink their priorities. With 2.5 billion gigabytes of data created every day, fraud is taking on a new face in the Big Data world.
According to the Association of Certified Fraud Examiners (ACFE), organizations forfeit five percent of annual revenue to fraud, which by conservative estimates amounts to more than $3.5 trillion lost each year to global fraud and financial crimes. Fraudulent activity has grown in scope, volume and complexity, with the brash sophistication of recent attacks — and magnitude of damage, both to the brand and bottom line — elevating the anti-fraud conversation from acceptable loss to C-Suite imperative.
Today’s generation of organized and digitally-savvy criminals are using the same technologies that deliver efficiency to business and convenience to consumers — such as mobile devices, social networks and cloud platforms — to constantly probe for vulnerabilities and weaknesses. The pace of this threat continues to accelerate. Identity fraud impacted more than 12 million individuals in 2012, resulting in theft of nearly $21 billion, and each day the U.S. healthcare industry loses $650 million due to fraudulent claims and payments. Continue Reading »
By John Mason
It takes a lot more than a good idea and a solid investment to succeed as a small or medium-size business today. It takes what psychologist, Urie Bronfenbrenner, described as a network of systems.
Bronfenbrenner introduced the idea of the microsystem, mesosystem, and exosystem, in his ground-breaking theory, The Ecology of Human Development, in 1979, and explained how each of these interconnected systems helps shape the individual.
As in society, the various parts of this ecology can be applied to SMBs to better understand their growth and development. Continue Reading »