Oracle has introduced Customer Experience (CX), its vision for a complete customerexperience, designed to help organizations create consistent, connected and personalized brand experiences across all channels and all devices.
“Companies have fewer ways to differentiate themselves and we are seeing that the power is shifting from the company into the hands of the consumer,” Jon Ekoniak, vice president, Product Marketing at Oracle, tells 5 Minute Briefing. “The consumers are now calling the shots because they wield power through social networks. They have the ability to influence what gets purchased and very quickly move to another supplier or another vendor because switching costs are fairly low and products are similar and get commoditized much more quickly than before. And, customers also have a desire to do business anytime, anywhere, any way they want - so that means they do it on their mobile devices or at one in the morning, or they may want to walk directly in to the store, but what they are looking for is a consistent experience no matter how they interact with the brand.”
The customer experience must acknowledge who the customer is in a personalized manner, make the experience painless and efficient, while also rewarding the person for his or her loyalty and advocacy, says Ekoniak. With Oracle Customer Experience, he says, Oracle aims to showcase its solutions that enable optimal customer service and interaction. Oracle Customer Experience seeks to help organizations centralize and create a single, real-time view of customer information, coupled with predictive and semantic analysis of all interactions that can be leveraged across departments to enhance the customer experience. “We see customer experience as the new business imperative,” he notes.
According to Ekoniak, the three main areas of the customer experience vision are: knowing the customer and his or her transaction history, so that interactions can be personalized, and the person can rewarded for loyalty and advocacy; being able to interact with the person wherever and however he or she chooses for a consistent cross-channel experience; and simplifying the experience overall for the customer overall.
“You can’t optimize one specific area and assume that the others will be fine,” says Ekoniak, noting for example that it is not effective to optimize only e-commerce without also dealing with the in-store experience as well as incenting employees in various areas to work together. “Organizations need to take a holistic approach and address the total customer experience as opposed to a siloed approach,” says Ekoniak. “That is what Oracle Customer Experience is all about.”
For more information on the Oracle Customer Experience Strategy, go to www.oracle.com/us/corporate/press/1671396.