Tuesday May 20, 2014

The Customer Connection – Building Lasting Relationships in an Instant Access World

 Today’s customers literally have a world of information at their fingertips. Gone are the days when the vendor – via sales reps, advertising, and marketing – was the primary source for information on a product or service.

Customers increasingly search online for information, join social networks, and leverage other social media channels for trusted third-party information and perspectives. A 2013 study, "B2B Technology Decision Journey," found that 80% of IT decision makers deem word-of-mouth input as the most important influence when making buying decisions; and 58% said they use social media to learn from trusted peers.

To build strong relationships in this rapidly changing, instant access environment, the ability to connect and, more importantly, collaborate with customers in new ways is imperative.

There is no question that the balance of power has shifted decisively in favor of the customer, who expects easy access to a full set of technology and business research and resources. Vendors can still play a vital role in this information exchange by integrating the offline and online worlds to manage the path of the customer’s journey.

For example, online communities can help customers take advantage of solutions and proactively resolve support issues. Our research shows that for every 300 online interactions via these communities, 100 support calls are avoided.

As important, when sales teams begin to pay greater attention to customers’ online and social media interactions, they gain insight that can fortify trust and enable greater collaboration for solving a customer’s business challenges – before an inquiry is even made.

Organizations should be focused on systematically managing interactions across social and online channels – using search results, white paper downloads, and social media postings to foster stronger customer understanding and relationships. Cloud-based tools can help track the customer’s actual usage of products and capture insight into their everyday experience, with an eye toward adding value and extending collaboration. By better understanding technology adoption issues and patterns, we can help customers to build a roadmap that enables them to get the greatest value possible out of their investments.

As part of an integrated strategy to expand customer collaboration, creating specific programs that focus on better understanding, documenting, and augmenting the customer’s journey acts as a source for professional development and knowledge expansion. Here at Oracle we’ve launched a Customer Experience (CX) Journey Mapping program that helps businesses to overcome organizational barriers to achieving true customer centricity. Serving as a trusted advisor, we share journey-mapping tools and techniques with customers to help them jump-start their CX transformation process. These half-day workshops give customers the fundamentals for customer centricity and the means to apply them within their organizations. They also serve to further strengthen our customer relationships.

Customer centricity can no longer be about one-off initiatives. It must be a part of a company’s corporate DNA.

As the profile of a customer changes, with a heavier reliance on online channels to make decisions, find information, and communicate, all of us need to evolve at the same pace.  By establishing ways to facilitate proactive collaboration and enable instant access to information, we can enrich our customers' experiences and promote customer-centricity within our own organizations.


Welcome to the Customers in the Know Blog. My name is Jeb Dasteel, I am Senior Vice President and Chief Customer Officer at Oracle. I am responsible for driving customer-focus into all aspects of the Oracle business. I advocate and work within Oracle to develop and deliver customer programs that increase customer retention, value delivered, satisfaction, and loyalty. This blog was designed to enhance our engagement and interaction with our customers, by providing them exclusive Oracle executive insights, ensuring they have the most up-to-date trends and news directly from Oracle, as well as guest blog submissions by some of our customers.



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