10 Data, Cloud, and Social Takeaways From Oracle OpenWorld 2013
The city of San Francisco was transformed this week as Oracle OpenWorld took over most of downtown, and Treasure Island, too.
Between the Customer Experience tracks, the executive solutions sessions, or the JavaOne sessions, the undeniable themes of the week were Data, Cloud, and Social. At each keynote we heard from some of the biggest, global companies with unique business models, each telling a story about how data, cloud, and social are helping the way their company does business.
With more than 60,000 attendees, the event highlighted session content relevant to every line of business title. As Eloqua is now part of the Oracle Marketing Cloud, we presented several different sessions in the Customer Experience track, including a few presentations from our customers: Thomson Reuters, LinkedIn, inContact, and McAfee.
At Steve Woods' presentation on Monday, he discussed how to take your modern marketing to the next level by changing the way you interact with your customers. He stated that by changing the way you frame your product or service, you can change the way a buyer conceptualizes and perceives your company. He argues that it is our job as modern marketers to identify and create trust building opportunities with our prospects and customers; that we can guide buyer behavior in interesting ways, ultimately we need to earn their trust to do that.
Hear more about modern marketing and digital body language from Steve in the following video:
Here are 10 other takeaways from Oracle OpenWorld this week:
- By 2016, half of the world’s big data will be stored in the cloud. - Oracle
- There are 1 billion smartphone users in the world, and 80% of them use social. -Oracle
- Customers today and in the newer generations want things that are simple and have been engineered to work together. – Mark Hurd, President, Oracle
- Centricity has switched from your company timeframe to the buyer’s timeframe, and we need to be prepared to jump on a hot lead as soon as we see it. There’s a 600% increase in making a sale if you call a hot lead within an hour vs. two hours. – Paul Teshima, GVP Product Management, Oracle Eloqua
- 49% of executives believe that customers will switch brands due to a poor customer experience, but in reality, 89% of customers have already switched. –Brian Curran, Vice President, Customer Experience Strategy and Design, Oracle
- Within the next year, every company should be measuring the Customer Effort Score, or the ability to analyze how much effort a customer has to exert in order to do business with you. – Brian Curran
- Organizations that focus on the customer journey have on average a 20% improvement on overall customer satisfaction and see a 10-15% growth in revenue. -Brian Curran
- Twenty percent (20%) of revenue lost in businesses is due to bad customer experiences. -David Vap, Group Vice President, Oracle
- By 2017, 87% of the US population will have mobile Internet devices, which is more than homes that have broadband. –Reggie Bradford, SVP of Product Development at Oracle
- There always will be someone else fighting for the attention of the consumer, whether or not they are your competitors. When you open up Facebook, it’s never going to be empty. Be timely, relevant, brave, and humble. –Lars Silberbauer, Global Director of Social Media, LEGO
The cherry on top of this week, of course, was the amazing come-from-behind win by Oracle Team USA
. For anyone who didn’t make the trip over to America’s Cup Pavilion to watch the race, they could take in the excitement via TV screens set up throughout Moscone center.
Learn more about the Eloqua and Social integration announced this week here. Want to see more from this week's events? Check out the conversation on Twitter at #OOW13, or follow Oracle OpenWorld on Twitter. Tell us, what are your favorite takeaways from OpenWorld?