Gartner: tie social strategy objectives to marketing and corporate strategy
A new report from Gartner looked at the evolution of social media as the technology matures. It outlined the five main reasons that enterprises invest in social media: strengthen customer relationships, enhance the brand, share information, interact with customers and increase revenue. As Gartner Analyst Adam Sarner points out, all of these activities fall under the purview of marketing. However, he warns that “far too many companies are still following the hype of ‘social’ and have created or participated in social media without a plan.” The biggest concern was lack of a clear business case for social media and a lack of correlation of typical social media metrics, such as number of “likes,” to measureable business value.
Forrester: proximity mobile payments set to boom in the U.S.
Mobile payments in the U.S. will show healthy growth over the next five years according to a new report from analyst Forrester. It predicts that mobile users will spend $90 billion using their phones in 2017, which is a 48% compound annual growth rate (CAGR) from the $12.8 billion spent in 2012. Forrester defines the market as including three main components: in-store mobile payments, mobile commerce and peer-to-peer mobile payments. The fastest growing area is in-store mobile payments – essentially proximity payments – which will jump from being worth 4% of the market to 45% of the market by 2017. “Lower barriers to adoption, increased convenience and early entrants striving for scale will be important drivers of this growth,” explains Analyst Denée Carrington.
Frost: mobility to dominate ICT investments in European financial services market
A new report from Frost & Sullivan has highlighted four information communications technology (ICT) trends that will dominate the European financial services industry in 2013. They are: contactless payments, mobile payments, the cloud and data analytics. The mobile channel is increasingly important for the industry in Europe, and m-banking, m-payments and m-remittances will all see big growth. Europe “is moving towards prepaid, online and contactless payments for small amounts,” says Global Program Director for ICT in Financial Services, Jean-Noel Georges. Over the next five years, contactless cards will see a CAGR of almost 30%, and by 2018, nearly 40% of phones in Europe will be shipped with near field communication (NFC) functionality enabled. NFC will allow users to make small payments with their smartphones.