By Abbas Makhdum, Director of Product Marketing, Oracle Marketing Cloud
Today’s empowered customer interacts with a brand on their own terms. As a result, the traditional (i.e. linear) customer journey is dead. The brand is no longer in control and in today’s competitive environment, creating a better customer experience is what distinguishes winning companies from the rest. If 81% of consumers are willing to pay for a better experience, what is your organization doing to please them?
Solutions providers that claim to solve this problem through consolidated data have been overpromising and under-delivering for 30 years. Does this sound familiar? “Don’t worry. We’ll bring all your data together in an enterprise warehouse and that will fix your customer experience problem.”
In the old days, getting a customer view meant merging your CRM list with your direct mail list. And now? The volume and variety of customer data has proliferated and made consolidation almost impossible. Today’s solutions do a decent job in optimizing customer touch points within a domain - marketing, sales, commerce, service, loyalty, etc. But, when every touch point creates even more siloed data, it has become increasingly challenging to get a single view of your customer and provide that precious, connected brand experience, no matter how or where your customer engages. The optimization of marketing or sales or service is no longer good enough in providing a connected customer experience.
The Value of a Connected Experience
CX professionals that want to increase customer satisfaction and grow customer lifetime value can’t do it with siloed customer data. Optimal customer experiences require a comprehensive view of your customer that connects data across every customer interaction. What if you could?
· Open new revenue streams by enabling service reps at each service interaction?
· Suppress marketing and sales communications to customers having service issues and avoid repeating yourself at every interaction?
· Show new and high-potential customers the benefits of loyalty programs instead of random offers?
· Move from issue resolution toward issue avoidance by using integrated, behavioral data to predict churn and proactively intervene?
· Seamlessly leverage historical loyalty information to optimize marketing offers to win customers back?
These are just a few of the opportunities that Oracle CX Unity will make possible.
Embedded in Oracle Customer Experience Cloud
Oracle CX Unity is a customer intelligence platform that enables a connected customer experience across marketing, sales and service. And you don’t need data scientists to help you with that. With built-in AI-powered predictive intelligence, Oracle CX Unity will enable contextually rich personalized engagement by connecting customer intelligence across the entire customer journey, applying data-driven intelligence to determine the next best experience and activating those actions directly into Oracle CX Cloud and partner applications.
What would a connected experience look like with CX Unity?
Oracle has been actively investing for a while in solving the problems where today’s solutions fall short, i.e. helping CX Professionals deliver a customer experience that is timely, relevant and consistent across each and every brand interaction. CX Unity will do this in 3 core areas:
1. Connected Customer Profile: It all starts with your data at the core. Integrating online, offline and 3rd party data sources into a single view of your customer
2. Comprehensive Customer Intelligence: An AI and machine learning intelligence layer acts on the massive amounts of data to model, predict and prescribe the optimal audience for your business objectives.
3. Compelling Customer Experiences: The ability to activate the intelligence by connecting with marketing, sales and service applications to orchestrate the next best experience at the moment that is needed
More than anyone else, Oracle has a history in helping companies to get more value from their data assets. Oracle CX Unity will take that to the next level, enabling CX Professionals to leverage data and intelligence to retain and grow their most profitable customers.
CX Unity In Action
This video demonstrates the value of a connected experience across marketing, sales and service at a fictitious company, TG Insurance. TG Insurance has a new liability insurance product that they would like to promote to their customers who have business insurance policies with them already. Because CX Unity will enable TG Insurance to create a comprehensive customer profile based upon all relevant interactions of their customers, they are able to leverage the built-in intelligence to ensure their customers receive an experience that is consistent, connected and timely.
Oracle CX Unity is a Customer Intelligence Platform embedded within Oracle CX Cloud. Built for CX Professionals, CX Unity will redefine Customer Intelligence resulting in greater sales, improved customer satisfaction and greater customer lifetime value.
*This post originally appeared on Oracle CX Blog