The Experience Imperative: Your Customer Is Now in Charge
By Mharrist-Oracle on Oct 04, 2012
By Richard Levitt
“Who of you haven’t heard about Dave Carroll and the airline that broke his $3,500 guitar?” asked Oracle President Mark Hurd as he opened the Oracle Customer Experience Summit @ OpenWorld Wednesday. Practically the entire audience had.
“They refused his claim,” Hurd continued, “and after nine months of unsuccessful haggling, Carroll wrote a song, made a video, and posted it. That video got more than 25,000 views in 24 hours, got picked up by national news media, and has now been seen more than 12 million times.
“Four days after the video was posted, the airlines stock dropped by 10 percent, or $180 million in value. And that’s the power of customer experience.”
In “The Experience Imperative” Customer Experience Summit general session hosted by Hurd—and led by Oracle’s senior executives in customer experience—the packed auditorium was introduced to the challenges and opportunities of the Customer Experience Revolution and reviewed Oracle’s suite of solutions.
The net message was this: the customer is now in charge. In an increasingly commoditized market, only a seamless, cross-channel, customer-centric service and communications strategy can differentiate your products and services.
That is, it’s all about the customer experience. Businesses need to understand their customers at a much more personal level, empower employees and customers for efficient and sustainable transactions, and adapt and innovate to differentiate their brand.
Anthony Lye, senior vice president, Oracle Cloud Applications Strategy, described an infinity-loop model of the customer experience lifecycle and broke the customer journey into four discrete sections: need/research, select/purchase, receive/use, and maintain/recommend.
The rest of the session illustrated the challenges and opportunities presented by each, and how each is perceived by various audiences.
A business must have a comprehensive and personalized customer experience both online and in-store, session leaders concluded, and with the absolute best-in-class and only complete customer experience portfolio, Oracle is the only vendor that can provide the tools for doing just that.
Read more about the customer experience imperative on oracle.com