Thursday Mar 19, 2015
Friday Feb 20, 2015
By Tuula Fai on Feb 20, 2015
Most people think Customer Experience is about marketing, or the activities associated with the last mile of the shopping journey. However this misses the bigger picture of many factors that support a successful customer experience.
A great example of a company doing it right is 7-Eleven. As shown in this video, 7-Eleven leverages a common foundation for what it calls the “digital guest experience,” as well as its merchandising and accounting systems. In this way, 7-Eleven serves its customers personalized and mobile in-store offers. Where it goes beyond is in applying purchasing and behavioral insights to its merchandising and assortment strategies.
Less forward-thinking retailers could take a lesson from 7-Eleven’s approach. Consider the case of specialty retailer Wet Seal. I have followed Wet Seal for a few years – the company has been very progressive in its use of in-store mobile and social shopper engagement.
So I was surprised by recent news that the company was closing two-thirds of its stores. Reportedly, Wet Seal struggled to keep pace with fashion trends (style and price) – and experienced reduced foot traffic in the malls where it invested. Given their progressive shopper engagement practices, and the data and insights these efforts generate, I would have thought Wet Seal was in a better position to foresee changes in its customers—and make different decisions regarding merchandise and assortments.
Wet Seal is not alone. Without an analytics-first approach to consumer engagement that encapsulates all facets of customer experience, retailers run the risk of focusing too heavily on the marketing aspect of the shopping journey.
For example, with deep analytics, Wet Seal would have noticed changes in customer behavior, such as greater price sensitivity, and merchandise indicators such as social chatter about preferences for competitor assortments. With such predictors of change in hand, Wet Seal could have altered pricing, promotion and assortments to stay ahead of customer preferences.
We should first accept that all shoppers are demonstrating connected behaviors, which make it essential and easy to understand what’s happening with them digitally. That’s certainly the case with 7-Eleven’s customers. Mobile and social channels can help shoppers navigate deals, alternatives and new customer experiences. Retailers can use this information to stay a step ahead.
In summary, retail customer experience should be based on an integrated view of the various business operations that support the customer’s experience. Marketing, store operations, online sales, merchandising, inventory, and service should operate off the same view of the customer providing agility and deep business intelligence.
CPG and Retail Industry Principal
Tuesday Jun 10, 2014
By Brian Dayton on Jun 10, 2014
Oracle Sales Cloud and Marketing Cloud customer Apex IT gained just that, a 724% return on investment (ROI) when they implemented these Oracle Cloud solutions in their fast-moving, rapidly-growing business.
This achievement just helped them win the Nucleus Research 11th annual Technology ROI Awards. The award, given by the analyst firm highlights organizations that have successfully leveraged IT deployments to maximize value per dollar spent.
Read more to get the details on what Oracle Sales Cloud and Oracle Marketing Cloud are doing for Apex IT's business and why they won.
Thursday Jan 16, 2014
By Alicia Miller, CX Sales Consultant, Commerce on Jan 16, 2014
Thursday Nov 21, 2013
By So Young Park on Nov 21, 2013
For many retailers, this is make or break time. The last two months of the year can make up over 40% of a company's revenue. Maybe you're behind budget and you're hoping to make up for lost ground during these next several weeks. Or maybe you're on track, but you want to exceed budget so you can max your bonus. Whatever the reason, it pays to prepare.
With this year's holiday season starting earlier than ever, some would say if you don't know what you're planning for holiday promotions by now, you're already in a spot of trouble. The reality is, though, even if you've got everything planned, you're probably adjusting and readjusting until the very last minute. Here are five recommendations to check against, whether or not you've got everything in tip-top shape.[Read More]
Wednesday Aug 14, 2013
By Michael Hylton on Aug 14, 2013
In the fast-paced world of the connected consumer, expectations run high. Every time customers interact with a company, they want a positive, relevant, and personalized experience. If they don’t get it, today’s empowered customers won’t hesitate to leave. Yet many companies can’t deliver great personal experiences to their customers because they are struggling with siloed information systems and processes that fail to provide complete and accurate data to sales, support, and marketing teams.
In the new white paper by Harvard Business Review Analytic Services, “Delivering on the Promise of Great Customer Experiences,” learn from several forward-thinking organizations—in industries ranging from travel to telecommunications—how to use Master Data Management (MDM) to collect and integrate all types of internal and external data and create the consistent, connected, and personalized experiences that customers want. Oracle Master Data Management offers the most complete product line on the market, enabling organizations to cleanse, centralize, and govern to create a “master” version of customer and business data—and the foundation for an improved customer experience strategy. Find out how your organization can enrich the customer experience.
For more information on Master Data Management, visit us on oracle.com - www.oracle.com/mdm.
Wednesday May 01, 2013
By Christina McKeon on May 01, 2013
Thursday Mar 14, 2013
By Pat Ma on Mar 14, 2013
Oracle Social Relationship Management (SRM) is a product that helps you manage and scale your relationship with customers on social media channels. We have recently integrated four best-in-class social relationship management components - social listening, social analytics, social engagement and social publishing - into one unified interface to give you the most complete social relationship management solution on the market.
You can listen to what people are saying about your brand, engage with fans and followers, create content and apps, publish to multiple social channels, manage workflows, and analyze results and get social campaign metrics.
Only Oracle can connect every interaction your customer has with your brand. Our goal is to help you deliver the best customer experience wherever your customer touches your brand – whether it’s on the web, mobile, in-store, contact center, direct sales, and nowadays, this includes social.
Read about the new Oracle Social Relationship Management product here:
• Destination CRM - Oracle Launches Social Relationship Manager
• CIO Australia – Oracle goes after Salesforce.com with Social Relationship Management
For more information or to get a personalized demo of Oracle SRM, please visit oracle.com/social.
Thursday Jan 10, 2013
Wednesday Dec 12, 2012
By Charles Knapp on Dec 12, 2012
Sales says, "Marketing doesn’t deliver enough qualified leads. So, we generate 90% of our own leads." Meanwhile, Marketing says, "We generate most of the leads. But, Sales doesn’t contact them quickly enough, while the lead is still interested." According to Sirius Decisions:
- Up to 90% of leads never make it to closure
- Sales works on only 11% of the leads supplied by Marketing
- Only 18% of the leads Sales accepts convert to opportunities
- Yet, 45% of prospects typically buy a product from someone within 12 months
The root cause of these commonplace complaints is a disconnect between the funnels of marketing and sales. Unfortunately, we often see companies with an assortment of poorly integrated marketing tools. It takes too long and too many people to move the data around, scrub it, upload it from one system to another, and get it routed to the right sales teams. As a result, leads fall through the cracks, contextual information is lost, and by the time sales actually contacts a customer it may be too late.
Sales automation alone is not enough. Marketing automation (including social) is not enough. Sales and Marketing must work together. It’s time to connect the silos of marketing and sales pipelines and analytics. It’s time for integrated Sales and Marketing automation.
Integrated pipelines improve lead quality and timeliness. Marketing systems can track a rich set of contextual information about a prospect–self-disclosed information about interests, content viewed, and so on. This insight can equip the sales rep with rich information to make a face-to-face conversation more relevant and more likely to convert to the next stage in the sales process.
Integrated lead to revenue (LTR) management provides end-to-end visibility, enabling the company to measure what is working. Marketing can measure its impact on revenue and other business outcomes, and sales can harness and redirect marketing investments to areas where they most help achieve sales objectives. It’s a win-win play. Marketing delivers more leads that are qualified, cuts cost per lead, and demonstrates a strong Return on Marketing Investment (ROMI). Sales spends more time with warm leads and less time on cold calls, achieves higher close rates, and delivers more revenue.
Learn more by attending our Integrated Sales and Marketing session at the upcoming CloudWorld conferences. Or, visit our Sales and Marketing Cloud Service site for videos and other learning resources.
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