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Forrester Research, Inc. reports company developments tied to its independent research, data, and advisory services for technology, customer experience, digital, marketing, revenue, and product leaders. News commonly covers quarterly financial results, contract value trends, revenue guidance, and management commentary on the company’s research and advisory model.
Company updates also feature Forrester AI, formerly Izola, and integrations that deliver Forrester research within workplace tools such as Microsoft Teams and Microsoft 365 Copilot. Recurring releases include enterprise AI research, B2B go-to-market studies, global technology awards, B2B Summit programming, and events that showcase the company’s research frameworks and client-facing advisory themes.
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.
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Forrester (Nasdaq: FORR) has appointed Nate Swan as its new chief sales officer, effective January 3, 2023. With over 20 years of experience in technology sales, particularly at Gartner, Swan aims to enhance revenue growth through a high-performing sales organization. Forrester's chairman, George F. Colony, emphasized Swan's expertise in driving contract value growth. This leadership change is timely as Forrester is at a significant transformation point with its new Forrester Decisions research portfolio, which they expect will broaden its client base and drive shareholder value.
Forrester's Public Cloud Market Outlook, 2022 To 2026 predicts the public cloud market will exceed $1 trillion by 2026, driven by investments in analytics, AI/ML, and differentiated services. Hyperscalers are expected to generate nearly $496 billion in cloud infrastructure services. Key growth areas include database and analytics services projected to reach $89.5 billion, and development services expected to rise to $51 billion. However, competition, market fragmentation, and the rise of edge computing may challenge growth.
Forrester's Financial Services Customer Trust Index reveals that over 50% of US customers lack trust in financial service providers across banking, credit cards, insurance, and investments. Customers with high trust are significantly more likely to recommend their primary financial institution and engage in additional services. The index, based on a survey of over 10,000 US adults, shows significant disparities in trust levels among banks and low trust in the insurance sector. The findings underscore the importance of earning customer trust for revenue growth.
Forrester Research (Nasdaq: FORR) reported third-quarter 2022 results with total revenues of $127.7 million, up 8% from $118.1 million in Q3 2021. Net income increased to $5.4 million, or $0.28 per diluted share, compared to $4.5 million or $0.23 per diluted share last year. Adjusted earnings per share rose to $0.57 from $0.41. The total contract value climbed 7% year-over-year to $353 million. Forrester raised its financial guidance for Q4 and full-year 2022, anticipating revenues of $535 million to $545 million.
Forrester's 2023 predictions emphasize the critical role of trust in business as economic instability and scandals erode consumer confidence. Key forecasts include a 15% decline in trust in consumer technology companies and at least 10 firms incurring $5 million or more in fines due to greenwashing. Increasing reliance on AI for monitoring employee productivity is expected to lead to higher employee turnover. Despite declining trust in banks, government trust is projected to increase. Emphasizing trust will be crucial for long-term growth and resilience.
On October 20, 2022, Forrester (Nasdaq: FORR) unveiled its agenda for the Data Strategy & Insights 2022 conference scheduled for December 6-7, 2022, in Austin, Texas, and online. The event aims to assist data leaders in overcoming challenges related to data quality, governance, and analytics innovation. Notable speakers include Cortnie Abercrombie and Jay Franklin. Forrester emphasizes that companies with advanced data insights are eight times more likely to see significant growth. Attendees will engage in workshops and discussions to foster actionable intelligence and drive business success.
Forrester Research (Nasdaq: FORR) will host its Q3 earnings conference call on November 2, 2022, at 4:30 p.m. ET. Investors are encouraged to log in 15 minutes early. The call will be accessible via forrester.com. A replay will also be available on the website for those unable to attend the live broadcast. Forrester is a leading research and advisory firm dedicated to helping organizations leverage technology and customer experience to fuel growth, backed by extensive proprietary research.
Forrester (Nasdaq: FORR) highlights a significant shift towards environmental sustainability, with the US and EU investing $1.4 trillion and VC funding for green tech at $17.5 billion. This movement, termed the 'green market revolution,' aims to transform multiple sectors, including transportation and energy. Forrester's data reveals that 17% of organizations prioritize launching green products. Consumers increasingly prefer brands with sustainability commitments, with 40% of online adults in France more willing to buy such products despite higher prices. This trend positions sustainability as a major business opportunity.