Siemens Industry Analyst Conference Recap

Siemens Industry Analyst Conference Recap

Two weeks ago, Siemens held their annual Industry Analyst Conference in Boston, which Aberdeen once again attended. The conference focused heavily on Siemens’ digitalization strategy for the entire value chain process. Siemens stated they are making this push due in large part to the increasing number of smart products in the market combined with urgency to shorten the development window. This shift in the marketplace is something that Aberdeen has seen grow consistently over the past decade or so. In fact, more than half the companies asked in a recent Aberdeen survey cited the demand to launch products quickly as the top driving pressure to improve their product development.  Not far behind, at 47%, was the market demand for more customized and complex products. The push for digitalization is an important one, as shifting away from manual processes helps increase visibility and improve decision making in a company. One important fact to remember, and is supported in our research, is that a company cannot approach digitalization in a siloed manner. The New Product Introduction (NPI) process, in particular, is an area where companies have historically taken that siloed approach. Last year’s report Bridging the Gap Between Product Development and Operations showed that 42% of Best-in-Class companies provided interoperability between their PLM and MOM/MES systems (only 18% of their peers did the same). This idea of integration is further supported on the individual tool level by the fact that Best-in-Class companies are also 37% more likely to use an integrated MCAD/ECAD design tool. There is an underlying message here: it is important for cross-functional teams to work together and not...
Customer Experience 20/20, A New Era of Customer-Centric Marketing

Customer Experience 20/20, A New Era of Customer-Centric Marketing

Marketers from across the Boston area joined the AMA Boston Chapter last night for an exclusive event featuring a panel of industry leaders to discuss the new imperative for marketers to optimize and manage the full customer journey as a strategic advantage. The panel featured marketing leaders from Google, Racepoint Global, and Mintigo and was moderated by Aberdeen Research Director, Omer Minkara. Omer kicked off the evening’s panel discussion by reviewing Best-in-Class insights on how to better manage the customer journey and the common challenges facing modern marketers. The business benefits of journey management are astounding: Improvement in return on marketing investments (ROMI) + 24.5% Improvement (decrease) in customer service costs + 21.2% Improvement (decrease) in average sales cycle +16.8% When executing a journey management program marketers need to utilize the data they have on hand effectively in order to successfully orchestrate different journeys  – all while bridging the gap between customers and shareholders (no easy feat!). Omer explained that establishing and nurturing a holistic view of the customer journey is one of the most important objectives for the modern CMO –  a whopping 81% of CMO’s are concerned with retaining existing customers. Data shows that 96% of marketers are not fully satisfied with their ability to use existing customer data as part of their omni-channel interactions. What’s one of the biggest challenges marketers face? 33% of marketers say understanding the buyer’s journey & how content is relevant to prospects as they begin their journey. What are you doing to put your marketing strategy into focus? Here are  top panelist insights that will help you manage your customer journey, expand product use and create...
Live Presentation and Video Interview with Aberdeen’s Bob Heaney from #Insights15!

Live Presentation and Video Interview with Aberdeen’s Bob Heaney from #Insights15!

Epicor’s annual customer conference took place this week in Nashville and highlighted a presentation by Bob Heaney, Research Director, and Principal Analyst, on Tuesday May 19th in Nashville. The live presentation underscored key trends and advancements in Wholesale Distribution in the Digital Era and discussed: Key  process steps to follow for scaling and transforming your wholesale distribution The key capabilities that support omni- channel B2B/B2C unified customer processes and experiences Why leading organizations are twice as likely to invest in these new processes and technologies, and what they are gaining Access a live recording and get copies of the content to learn: – What will wholesale distribution look like in the future? – How can you scale & transform your wholesale distribution? – Why omni-channel B2B/B2C processes & experiences are key to wholesale distribution. Additionally, please click here for the direct link to Bob’s live interview on Transforming from Yesterday’s Distributor into Today’s Innovator from the event. Session Description: In today’s customer-connected world, consumers expect orders to arrive complete and on-time, regardless of the fulfillment flows involved.  New online eCommerce flows and customer interactions can make or break today’s wholesale customer experience, which is why leading organizations are investing in customer-driven capabilities to support their omni- channel initiatives. The most successful have transformed business processes and have a holistic understanding of B2B/B2C customers, channels, and costs. By automating and integrating capabilities and analytical tools, these wholesale leaders are more customer-focused and operationally ready. Be sure to share this presentation with your friends or...
Takeaway from LiveWorx 2015 – The Rise of Smart, Connected Products and ALM

Takeaway from LiveWorx 2015 – The Rise of Smart, Connected Products and ALM

I had the opportunity this week to attend PTC’s LiveWorx 2015 IoT Strategy Forum in Boston.  The event focused on improving collaboration, reducing costs, and accelerating innovation driven by the Internet of Things (IoT). It was a 2 day event that highlighted numerous real-world success stories and the future plans of IoT. The overall message I took away from the event is that the future is smart, connected products – a sentiment that I, and Aberdeen, couldn’t agree more with. The incorporation of software, into products that are traditionally based in mechanical and electrical components, has allowed for new innovations to take place. This is true for all industries as well; products are becoming increasingly reliant in their coordinated use of mechanics, electronics, and embedded systems (Table 1). Table 1: Products are only Becoming more Complex Clearly the use of software is exploding among product developers today. While it is true that the use electronics and embedded software can bring new improvements and capabilities never available before, it is a double-edged sword. Companies must develop the applications necessary to run and manage this software, which is easier said than done. As more of these products (or “Things”) become connected, more applications will be necessary to manage them (estimates can get to as high as 500 Million distinct applications needed in the coming years). The problem is that designing these applications requires skilled workers – workers that most companies do not have in abundance. In fact, this point was raised during Russ Fadel’s presentation (President of ThingWorx). He estimated that around 20% of a designers time was spent developing applications,...
Mastering the Art of the #ColdTweet

Mastering the Art of the #ColdTweet

Networking and events go hand in hand, but have you ever heard of the art of the #coldtweet? Probably not, since I just came up with the term. Think about it – when you meet someone and you’re prospecting, you cold call them, right? While prepping for the upcoming Oracle Eloqua Modern Marketing Experience #MME15, I had planned on connecting with some new folks. So why not drop them a tweet prior to leaving? There is something nice about reaching out over social media and admitting that while you have not met, are looking to connect all while doing it over a public forum! An Aberdeen research report published in 2012 by Peter Ostrow titled Collaborate, Listen, Contribute: How Best-in-Class Sales Teams Leverage Social Selling found that 70% of the Best-in-Class companies who use social selling have a process in place to identify social influencers. And in our case, it’s quick and dirty. Below are 4 tips on managing the art of the #ColdTweet: Prep work pays off. Before heading off to that networking event, or conference, spend a few minutes with your sales and marketing team to find out who they are talking to, or are having trouble getting a hold of. Think pre-schedule. Ensuring we have the right amount of retweets, @tweets, and original tweets in our twitter feeds can be a pain, but with programs like Buffer, TweetDeck and Hootsuite, you can pre-schedule tweets to have them flowing throughout the day. Think about using one of these programs to schedule your #coldtweets as well! #hashtag it. Most events and conferences have a hashtag, but in the rare case they...
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