A blog about Oracle Social Life

Five Lessons Learned at the CRM Evolution

Maggie Huston
Senior Content Manager

1. Customer Service is the New Marketing

We didn’t coin this phrase, but we certainly believe it. Traditional “customer service” has evolved beyond resolving issues; now, customer service builds brand loyalty. The engine behind this change is social media. As people turn to social media for customer service related questions, Oracle is leading the industry with innovative social service capabilities. We recently announced our expanded partnership with Twitter for enriched insights to create next-generation social service solutions, as well as our recent integrations and enhancements between the Oracle Social Cloud and Service Cloud. You can read more about that in Forbes.

2. Customer Engagement & Customer Experience Are Different

Customer Experience, aka #CX, is one of the hottest buzzwords in marketing. According to Gartner, by 2016, 89% of companies will be competing almost entirely on customer experience. Not price. Not product. Customer experience. That’s transformational. But “Customer Engagement” is not interchangeable with “Customer Experience”. Of course, customer engagements are the vital piece of delivering on the promise of relevant and satisfying customer experiences… but they are different by definition. Paul Greenberg breaks this down in a great article in ZDNet. We highly recommend you read it.

3. Digital Disruption is More than Technology

Businesses are still falling way short. Think about this: 52% of Fortune 500 firms since 2000 are gone. The transformation to a digital business requires a deep cultural and operational change in mindset and process. You can’t just throw technology at it. As Ray Wang said, “Digital disruption is more than just a technology shift. It’s all about transforming business models and how we engage.” So true. We could do an entire blog, a book even, on the subject of digital disruption, but Ray has got that covered so read more about his book and insights on digital disruption on his Constellation blog.

4. IoT Holds Promise for CRM

It wouldn’t be a technology conference without talking about #IoT. But the Internet of Things holds great promises for understanding, personalizing and engaging better with customers. Cisco estimates that 50 billion devices and objects will be connected to the Internet by 2020. And all those connections can reveal insights that drive highly personalized and even predictive customer experiences. Leveraging IoT data into CRM operations can elevate a brand’s ability to deliver incredibly rewarding and valuable customer engagements. The Internet of Things, however, lacks common or unified standards—think devices, privacy and security—so mainstream adoption will be slow… but it is coming.

5. CRM Evolution Full of #Influence

As usual, CRM Evolution delivered on quality content and excellent insights, thanks to the bevy of influencers the event attracts. With a lineup like this our brains were on overdrive: @mkrigsman @BrentLeary @pgreenbe @rwang0 @ValaAfshar @BrianVellmure @kateleggett @DenisPombriant @mfauscette @Lager. We recommend you follow these folks on Twitter. They are some of the top #influencers in the industry.

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