Oracle OpenWorld: Day 4
By Mike Stiles on Sep 26, 2013
Oracle OpenWorld Day 4 saw a breathtaking America’s Cup win for Oracle Team USA and more keen insight into technology’s forward march in terms of big data, the cloud, customer experience and the morning’s specific focus…social’s astonishing impact on organizations and business.
Social Spotlight once again gets you on the inside and keeps you up to speed on the top thoughts coming out of this incredible annual event.
Technology is being driven by the accelerating trends of social, mobile, data and cloud.
Customer expectations are increasing, creating massive disruptions that make it harder to differentiate, compete and win.
86% will stop doing business with you after one...ONE bad experience.
Only 16% of organizations describe their customer experiences as "advanced."
Your customers couldn't care less about the silos you've built inside of your organization. It’s NOT their problem.
Customers are a wide variety of demographics, and they're trying to engage with you on numerous channels of their choosing.
Oracle's complete CX solutions suite includes marketing, commerce, sales, service, and social.
Digital natives move seamlessly between the real and digital worlds, whichever works best and is most convenient at the moment.
Things are shifting from multiple customers/one experience to one customer/multiple experiences.
He who serves the customer best in this seamless, connected world, wins.
Consumer adoption cycles are going faster. If you're not in a position to adopt and adapt yourself, you're in trouble.
90% of all purchases are subject to social influence.
Companies that collaborate across departments that take advantage of technologies are the most successful.
For social to achieve its true value, it has to be part of a broader ecosystem to enhance the customer experience.
Social is being extended across the enterprise, integrated with the application stack.
Oracle recently announced the integration of the Oracle SRM with key components of Eloqua.
The Oracle SRM is built for global scale, with access to over 700 million messages daily, 185 countries, and 31 global languages.
Empowering Social Business with Meg Bear
Data volume will grow 20 times what it is today by 2020.
300 million photos are uploaded to Facebook daily, and there are an average 400 million tweets per day.
Customers don't stand still in the buying journey. Approach them as one conversation, one transaction, one relationship.
A combined effort is needed from functions that are “onstage” with customers and “backstage” supporting these interactions.
70% of businesses today use social technology and 90% report getting business benefits from it.
Even internally, social collaboration and sharing results in a projected 20-25% increase in productivity.
Brands are moving from using social to broadcast messages to listening, learning and engaging with customers to cultivate relationships.
Social applies across the enterprise: marketing, commerce, selling, customer service, HR, and collaboration.
70% of executives think social can fundamentally change how their organization works. But only 10% rate themselves highly on it.
Just 34% of social professionals think their social is aligned to business goals and outcomes.
The culprits holding back “Social Business” are lack of overall strategy, competing priorities, and lack of business ROI.
Gartner estimates 80% of social business projects will disappoint due to lack of leadership support and taking a narrow view of social.
We're moving from a “siloed” world to a holistic, unified approach - with departments and technology solutions.
Best Practices: Attain executive buy-in & support, align social with clear business objectives, collaborate across people, processes & technology, enact social policy guidance (guidance…not rules), let the company’s social champions lead, integrate social across key areas of the enterprise.
If you’d like to see even more great content that came out of Oracle OpenWorld 2013, it’s ready and waiting for you at OpenWorld Live.