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Overview
Forrester Resh Inc (FORR) is a United States-based independent research and advisory firm that has established a significant presence in the realm of customer-obsessed strategies, market research, and business insights. The company operates by leveraging rigorous methodologies, extensive data, and the collaborative insights of numerous business leaders and technology experts. Its primary focus is on providing deep analytical perspectives that empower organizations to understand market dynamics and implement strategies that foster sustainable growth.
Core Business Segments
The business is structured across three core segments:
- Research: This segment is centered around developing and delivering comprehensive research, connect solutions, and analytics products. Through proprietary research initiatives and large-scale surveys covering hundreds of thousands of consumers and business leaders, FORR provides intricate insights that help clients navigate complex market landscapes.
- Consulting: The consulting arm of the company extends its expertise through custom consulting services. By applying data-driven strategies, it assists organizations in refining business models, customer strategies, and operational frameworks. The consulting services are designed to translate research findings into actionable plans tailored to unique organizational challenges.
- Events: In addition to its research and consulting services, FORR hosts both in-person and virtual events. These events serve as interactive platforms for executives and industry leaders to share experiences, discuss emerging trends, and develop peer networks that foster innovative thinking and leadership transformation.
Market Position and Significance
Forrester Resh Inc has positioned itself as a key influencer in the realm of business strategy and technology integration. Its extensive research, backed by objective and methodical approaches, provides a robust foundation for companies seeking to implement customer-centred innovations. The company is known for challenging conventional thinking, making it a trusted resource for businesses aiming to lead change. This authoritative approach to market research is enhanced by the company’s commitment to precision and depth, ensuring that its insights are both actionable and reflective of current industry trends.
Methodologies and Value Proposition
FORR's value proposition is grounded in its rigorous research methodologies and a balanced combination of qualitative and quantitative data. The use of extensive surveys and proprietary analytical techniques enables the firm to offer nuanced insights that guide decision-making. This includes a focus on:
- Data-Driven Insights: Leveraging vast datasets to provide clear, actionable intelligence.
- Customer-Centric Strategies: Helping clients develop approaches that prioritize the end consumer’s needs and behaviors.
- Innovative Peer Engagement: Facilitating exclusive events and peer groups that stimulate professional growth and strategic innovation.
Industry Expertise and Analytical Approach
FORR’s work is deeply integrated with industry-specific trends and market dynamics, which helps demystify complex business scenarios. Its reports and advisory services are designed to not only analyze current market conditions but also to provide frameworks that organizations can adapt and implement across various business areas. The use of precise language and methodical analysis in their research reports underscores the firm's commitment to excellence and clarity, making it an invaluable resource for decision-makers seeking detailed and unbiased insights.
Competitive Landscape
In a competitive market filled with multiple research and advisory entities, Forrester Resh Inc differentiates itself by its unique combination of deep research insights and a broad-based advisory model. While many firms offer segmented services, FORR integrates research, consulting, and event coordination to deliver a comprehensive suite of services that are both data-rich and strategically focused. This integrated approach not only enhances the clarity of market trends but also provides a practical framework for business transformation.
Conclusion
The comprehensive approach of Forrester Resh Inc positions the company as an indispensable source of information and strategic guidance within the independent research and advisory industry. Through its structured segmentation, industry-specific methodologies, and a commitment to actionable insights, FORR continues to inform and shape the strategic decisions of business and technology leaders globally. Its rigorous research processes, objective insights, and multi-dimensional service offerings ensure that organizations are well-equipped to respond to evolving market challenges and capitalize on emerging opportunities.
Forrester Research reported second-quarter 2021 revenues of $128.7 million, a 13.4% increase from $113.5 million in Q2 2020. Net income on a GAAP basis was $8.3 million or $0.43 per share, down from $11.8 million or $0.63 per share year-over-year. Adjusted net income rose to $12.7 million or $0.66 per share. The company is raising its 2021 guidance, expecting full-year revenues between $485 million and $495 million. Forrester highlighted a 9% growth in contract value and a strong cash generation of $70 million in the first half of 2021.
Forrester Research (Nasdaq: FORR) will host its second-quarter earnings conference call on July 28, 2021, at 4:30 p.m. Eastern Time. Investors can access the call via forrester.com and are encouraged to log in 15 minutes early. A replay will also be available for those unable to attend the live broadcast. As a leading research and advisory firm, Forrester assists leaders in various sectors by providing insights based on extensive consumer and business research.
On July 13, 2021, Forrester (Nasdaq: FORR) launches CX Reality Day to encourage companies to assess their customer experiences. Executives will engage in customer journeys to identify gaps between their brand promises and actual customer experiences. A critical step towards customer obsession, the event highlights that only 7% of enterprises are currently customer-obsessed, risking irrelevance. Companies that improve service experiences see increased retention, spending, and referrals. Forrester emphasizes the importance of aligning brand promises with customer experiences to drive growth.
Forrester Research (Nasdaq: FORR) has announced that CEO George Colony and CAO Scott Chouinard will present virtually at the Sidoti & Company Virtual Investor Conference on June 23, 2021, at 10:00 a.m. Eastern. A live webcast of their presentation will be accessible on the company’s website.
According to Forrester's US 2021 Customer Experience Index, 21% of brands improved their scores significantly since 2020 due to the pandemic-driven shift towards enhanced customer experiences. The top-performing brands, including Chewy.com and Trader Joe's, excelled by addressing emotional needs and fostering customer loyalty. Notably, health insurers showed the best performance amid the crisis, while industries like airlines and hotels faced challenges. Forrester's research indicates that even minor improvements in customer experience can translate to substantial revenue gains, emphasizing the importance of empathetic customer engagement.
Forrester (Nasdaq: FORR) has announced the full agenda for the CX North America live virtual conference, scheduled for June 7-9, 2021. The event aims to help businesses improve customer experiences (CX) to drive growth, featuring sessions that showcase new research and actionable strategies. Notable speakers include Leslie Odom, Jr. and Andy Grammer. The conference will focus on leveraging data for better customer journeys, substantiating CX investments, and fostering customer loyalty through enhanced experiences.
Forrester (Nasdaq: FORR) forecasts that 70% of US and European companies will adopt a hybrid work model post-pandemic. Research indicates that 55% of US employees desire more remote work opportunities. Notably, 47% of US and 54% of European workers believe vaccines won't fully prevent COVID-19 spread. Companies are encouraged to measure their readiness for hybrid work using Forrester's readiness calculator, which assesses employee remote capabilities, collaboration technologies, and security. Emphasizing employee wellness, Forrester highlights that organizations must prioritize environments that cater to employees' needs.
Forrester's recent research reveals that consumers are losing trust in traditional institutions like government and media, shifting their trust towards businesses. The Trust Assessment and Scorecard aims to help companies cultivate trust among stakeholders, enhancing performance. Key findings indicate that different regions prioritize varying trust factors, and consumers expect companies to align values with actions. About 47% of US consumers rely on brands for health advice, while 18% of US consumers would cease business with companies that contradict their values. Trust is becoming a critical business asset.
Forrester Research (FORR) reported Q1 2021 revenues of $113.8 million, up from $106.3 million in Q1 2020. Net income was $4.0 million ($0.21 per diluted share), reversing a net loss of $0.5 million in the prior year. Adjusted net income rose to $8.6 million ($0.45 per diluted share), driven by strong contract value bookings growth, up 4% year-over-year. The company plans to increase its 2021 guidance, projecting revenues of $473 million to $483 million. For Q2, expected revenues range from $120 million to $124 million.
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