Tasnia Khan, Product Strategist, Oracle CX
Thousands of customer experience professionals congregated in Chicago earlier this month for the Modern Customer Experience 2018 event. If you missed it, don’t worry – we have you covered.
Oracle Loyalty debuted as Oracle’s hot new CX product, and it’s generating a lot of buzz.
Loyalty is BIG. One of the most difficult challenges brands face is acquiring and retaining loyal customers because consumers are no longer brand loyal. They switch brands more than ever, remaining loyal only to their needs in the moment. On the other hand, since loyal customers tend to spend more and are more likely to recommend your brand and become brand advocates, it’s imperative to try to build emotional connections with those loyal customers.
At Modern CX 2018, attendees learned how to provide relevant, personalized, and engaging experiences at every step of the customer journey. Here’s your inside scoop on the Modern CX Loyalty sessions.
Meet Oracle Loyalty Cloud
We discussed how to use the cloud to provide individualized customer experiences. Built on REST interfaces, Oracle Loyalty is incredibly innovative and can easily connect with other applications. By creatively extending the solution, companies can foster a personal connection, making their customers feel comfortable opening up through digital channels, building trust, and increasing their customer lifetime value.
Know Your Customer
During our customer panel, we heard from Oracle Loyalty customers Southwest Airlines, Wine.com.br, and Latham Pool on how they drive meaningful engagement to beat the competition.
These are just a few examples of how our Oracle Loyalty customers are finding creative and inspiring ways to build unified customer experiences that foster loyalty.
Customer Loyalty in the Age of AI
According to Gartner, 80 percent of your future profits will come from just 20 percent of your existing customers. Successful ecommerce businesses are using AI-led experiences to foster loyalty. During this session, we discussed how conversational AI on channels like chat, text messaging, social media platforms, and voice-activated assistants like Siri, Alexa, and Google Home can help drive profits. We explored what opportunities you could have if you knew who your customer was before they even shopped with you. Imagine having the data to build a profile on your customer, providing them with the individualized experiences they are looking for when they initially interact with your brand.
Seize Micro moments with Unified Commerce, Service and Loyalty
When it comes to building loyalty, commerce and service are two sides of the same coin. Today's empowered customers no longer just purchase products; they buy experiences from brands they feel confident will deliver on their ongoing needs. In this session, we discussed proactive strategies that go beyond traditional customer service through opportunities like self-service, chat and voice assistance, digitizing in-store experiences, harnessing the power of social media, and building emotional connections with your customers. These unified approaches build shopper confidence and lasting loyalty.
Modern Customer Experience Heroes provide seamless and unified experiences. Combined with our CX stack, Oracle Loyalty allows brands to be unforgettable. The new Loyalty solution impressed our attendees, and drove conversations around building a loyal customer base that keeps coming back for more. We know what our customers need and with the Oracle CX stack, we are uniquely positioned to provide an integrated end-to-end journey that fosters loyalty during each and every interaction with your brand.
To learn more, visit https://cloud.oracle.com/loyalty-cloud.