CAMBRIDGE, Mass., Nov. 6, 2017 /PRNewswire/ -- Forrester identified the major dynamics that will shape 2018 – dynamics that favor those taking aggressive action and create existential risks for those still holding on to old ways of doing business in an introductory piece to its predictions reports.
Companies are still trying to adapt to wildly different market dynamics that are increasingly affecting financial performance: unmet customer expectations are resulting in churn; the lack of digital transformation gains is translating to loss of market share; industry lines that protected some are crumbling; and longstanding, durable business models are failing.
"2018 will be a year of reckoning and will force many companies to take decisive action," said Cliff Condon, chief research and product officer at Forrester. "While the economy is still growing and employment is healthy, the fate of companies has never been more uncertain. The window of opportunity to take bold action is starting to close and executives need to move past incremental approaches and make sweeping changes tuned to a customer-led, disruptive market."
The major dynamics that will shape 2018 include:
- Performance expectations for CX.
- Success rate of digital transformation efforts.
- How scarce talent affects the market.
- Intelligent agents' influence on consumer spending.
- How brands will fare in understanding the lingua franca of platform algorithms.
- The impact of consumers cocooning themselves from "digital noise".
- The fate of traditional advertising.
- The chances firms will comply with GDPR.
- How open banking will determine the future of many banks.
- How digital platforms will impact traditional retailers.
- The evolution and pace of artificial intelligence.
- The evolution and pace of blockchain.
- How security evolves to confront threats without degrading CX.
To gain more insights on the dynamics that will shape 2018, download Forrester's predictions guide. Many of these trends will be discussed at Forrester's Customer Experience Forum, Nov. 14-15 in London.
Forrester (Nasdaq : FORR) is one of the most influential research and advisory firms in the world. We work with business and technology leaders to develop customer-obsessed strategies that drive growth. Forrester's unique insights are grounded in annual surveys of more than 675,000 consumers and business leaders worldwide, rigorous and objective methodologies, and the shared wisdom of our most innovative clients. Through proprietary research, data, custom consulting, exclusive executive peer groups, and events, the Forrester experience is about a singular and powerful purpose: to challenge the thinking of our clients to help them lead change in their organizations.
Jennifer Isabella, 617-613-6132