Tuesday Oct 23, 2012

The Path to Best-In-Class Service Business Performance

What would it matter to offer your customers best-in-class service and support experiences? According to a new study, best-in-class companies enjoy margins that are nearly double the average, retain almost all of their customers each year, deliver annual revenue growth that is six greater than average, and realize cost decreases rather than increases!

What does it take to become best in class? Some of the keys are:

  • Engage customers effectively and consistently across all channels
  • Focus on mobility to improve reactive service performance
  • Continue to transition from primarily reactive to proactive and predictive service performance
  • Build the support structure for new services and service contracts
  • Construct an engaged service delivery team

Join the Aberdeen Group, Oracle, Infosys, and Hyundai Capital as we highlight the key stages in the service transformation journey and reveal how Best-in-Class organizations are equipping themselves to thrive in this new era of service. Please join us for "Service Excellence and the Path to Business Transformation" -- this Thursday, October 25, 8:00 AM PDT | 11:00 AM EDT | 3:00 PM GMT | 4:00 PM BST.

Friday Oct 05, 2012

Mapping Your Customer Experience Journey

For those who attended today’s Oracle Customer Experience Summit keynote you heard from Brian Curran talk about the strategies and best practices to implement customer experience (CX) in your organization.  He spoke about how this evolving journey begins by understanding six steps to transform your business and put your customers front and center.  Here are those key six steps:

  1. What are the strategic business objectives in your company?
  2. What are your operational objectives and KPIs necessary to measure a CX project? Build an income statement and create “what if” scenarios and see how changes impact your business’ bottom line.  Explore what keeps you from getting to your own goals for your business.
  3. Define the business objectives and opportunities you want to meet?
  4. Understand the trends and accelerators in the market?  What factors are going on in the market affect that impact your business?  Social?  Mobile?  Cloud?  Just to name a few.  Many of these trends may signal a change in the way people think about your business.
  5. What approach will you take to solve these issues?  Understand who your customer is.  How do you need to adapt your business to build relevant, personalized customer experiences?
  6. What technologies can you implement to address CX?  Does technology help you solve your problem?

A great way to begin your customer experience journey is a concept called journey mapping, one of the most powerful and deceptively simple tools for unlocking CX innovation at your organization. Here is where you can learn more about how you can bring this concept into your business to drive great customer experiences.

Thursday Oct 04, 2012

Purple Cows, Copernicus, and Shampoo – Lessons in Customer Experience

What makes a great customer experience? And, why should you or your organization care? These are the questions that set the stage for the Oracle Customer Experience Summit, which kicked off yesterday in San Francisco.

Day 1: The first day was filled with demos and insights from customer experience experts and Oracle customers sharing what it takes to deliver great customer experiences. Author Seth Godin delivered an entertaining presentation that included an in-depth exploration of the always-connected, always-sharing experience revolution that we are witnessing and yes, talked about the purple cow. It turns out that customer experience is your way to be the purple cow. Before everyone headed out to see Pearl Jam and Kings of Leon at the Oracle customer appreciation event, the day wrapped up with a discussion around building a customer-centric culture. Where do you start? Whom does it involve? What are some pitfalls to avoid?

Day 2: The second day addressed the details behind all the questions brought up at the end of Day 1. Before you start on a customer experience initiative, Paul Hagen noted that you must understand you will forge a path similar to Copernicus. You will be proposing ideas and approaches that challenge current thinking in your organization. Just as Copernicus' heliocentric theory started a scientific revolution, your customer-centric efforts will start an experience revolution.

If you think customer experience is like a traditional marketing approach, think again. It’s not about controlling your customers and leading them where you want them to go. It might sound like heresy to some, but your customers are already in control, whether or not your company realizes and acknowledges it. And, to survive and thrive, you'll have to focus on customers by thinking outside-in and working towards a brand that is better and more authentic. We learned how Vail Resorts takes this customer-centric approach. Employees must experience the mountain themselves and understand the experience from the guest’s standpoint. This has created a culture where employees do things for guests that are not expected.

We also learned a valuable lesson in designing and innovating customer-centered experiences from Kerry Bodine. First you make the thing, and then you make the thing right. In this case, the thing is customer experience. Getting customer experience right means iterative prototyping and testing of your ideas. This is where shampoo comes inthink lather, rinse, repeat. Be prepared to keep repeating until the customer experience is right.

Many of these sessions will be posted to YouTube in the coming weeks so be sure to subscribe to our CX channel.

Tuesday Oct 02, 2012

Focus on Social Relationship Management at Oracle OpenWorld

Greetings from Oracle OpenWorld 2012. Today, we’re going to focus on Social Relationship Management at Oracle OpenWorld.
Social networking is touching all businesses today. 

Customers are speaking about your brand right now on social media sites. Your employees are speaking to one another on social media sites. In an Oracle survey, 40% of consumers factor in Facebook recommendations when making purchasing decisions. Despite the rise of social networking, 70% of marketers report having little understanding of social media conversations happening around their brand.

Oracle has invested in technologies that will help companies leverage social media technologies for their enterprise. Our suite of social products is collectively known as Social Relationship Management. Customers are using Social Relationship Management to get analytics to social media conversations around their brand, manage multiple social media channels while keeping their brand consistent, optimize internal workflows and processes, and create better customer relationships and experiences.

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