Forrester Research Inc - FORR STOCK NEWS

Forrester (Nasdaq: FORR) reveals insights from its report, indicating that Millennials and Gen Z buyers now comprise 64% of business buyers, with Millennials alone exceeding half. This demographic exhibits significant dissatisfaction—90% reported issues with vendors, surpassing 71% of older buyers. The report suggests younger buyers demand more self-serve channels and rely on third-party information, reflecting their digital proficiency. Companies must adapt their strategies to meet these evolving consumer habits amidst economic uncertainties. Insightful data drives the need for businesses to rethink engagement methods for success.

Forrester Research reported its Q4 and full-year 2022 results, revealing a 9% revenue increase and an 18% rise in adjusted EPS. Total revenues reached $136.9 million for Q4, up from $133.7 million in Q4 2021. However, the company posted a net loss of $1.6 million for Q4 2022 compared to a $8.0 million net income in the same quarter of the previous year. For the full year, total revenues were $537.8 million, compared to $494.3 million in 2021. For 2023, Forrester anticipates revenues of $518 million to $538 million, representing a potential 4% decline year-over-year.

Forrester projects a 4.7% growth in global tech spending, reaching $4.4 trillion in 2023, driven by increasing demand for software and IT services. By 2027, tech software and services will constitute 66% of total tech spend, up from 60% prior to the pandemic. The public cloud market is expected to exceed $1 trillion by 2026, capturing nearly 25% of global tech spending. Regional growth varies, with the Middle East and Africa at 5.6%, Asia Pacific at 5.4%, and North America at 5.1%, while Europe lags at 3.6% due to economic challenges.

Forrester Research (Nasdaq: FORR) will host its fourth-quarter and full-year earnings conference call on February 9, 2023, at 4:30 p.m. Eastern time. Investors are advised to log in 15 minutes early to ensure access. The call will be streamed live and available for replay on forrester.com. Forrester is a noted research and advisory firm, empowering leaders across various functions to center customer obsession for growth through comprehensive research and insights drawn from extensive consumer surveys and evaluations.

Forrester (NASDAQ: FORR) has announced that Nathaniel Rateliff & The Night Sweats will perform at the B2B Summit North America in Austin, Texas, from June 5–7, 2023. This annual summit is a key event for B2B leaders, featuring over 100 sessions focusing on aligning marketing, sales, and product strategies to drive revenue growth. Themes include the importance of cross-functional alignment and adapting to market changes. Lisa Riley, Forrester's SVP of Global Events, emphasized the need for adaptability in the current economic environment. For more details, visit Forrester.com.

The recent Forrester research report highlights the unique challenges businesses face during the 2023 economic downturn, which is unlike any previous recession due to its complex origins. The study suggests CEOs should focus on a long-term strategy by making targeted cuts while still investing in growth areas, particularly technology that enhances customer and employee experiences. Additionally, CEOs are encouraged to prioritize talent management and be selective about customer engagement to maximize resource utilization. These insights aim to empower leaders to turn challenges into opportunities.

Forrester (NASDAQ: FORR) has launched Forrester Decisions for Partner Ecosystem Marketing, enhancing its service aimed at helping marketing leaders modernize partner programs. This initiative responds to the growing demand; in 2022, nearly half of B2B channel leaders anticipated an increase in partner engagement. The new service focuses on developing strategies, optimizing partner engagement, and enabling success within evolving partner ecosystems. It includes bold vision research, curated tools, and hands-on guidance to assist executives in navigating the complexity of partner marketing.

Forrester (NASDAQ: FORR) has announced its global Customer Obsession Awards to recognize organizations and senior executives excelling in customer focus. The awards include two categories: Customer-Obsessed Enterprise, celebrating organizations that prioritize customer-centric strategies, and Customer-Obsessed Leadership, honoring executives who advocate for a customer-first approach. Nominations are open to B2C organizations with over 1,000 employees in North America, Asia Pacific, and EMEA. Award winners will be recognized at upcoming conferences in May and June 2023. Forrester claims that customer-obsessed businesses experience significantly higher growth rates in revenue and customer retention.