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Five Ideas: Customer Experience

May 2014

While executives have heard that 86 percent of buyers will pay more for great customer experience, many still need clarity on the benefits and challenges associated with managing this level of service.

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Right now, you can sign up for an Oracle Customer Experience Journey Mapping Workshop, in which you will learn about journey mapping, a customer-focused, in-demand methodology that allows you to look through your customers’ eyes and understand their experience with your brand.

Here, generate some fresh ideas by listening to experts discuss how to put your customers at the center of your business, and discover tools that can help you figure out what they really want.

“Customer loyalty is a traditional method, but it can be very difficult to gauge accurately. Experts suggest that customer engagement, which is the extent of a customer’s willingness to invest time with a company for mutual benefit, is a better metric because it is easier to measure and influence, and it’s more strongly correlated to revenue and profits.” Profit Contributor Alison Weiss

“If you want to win customers, you need to know them as individuals. You need to harness and quickly analyze all of the data at your disposal, from within your organization and beyond, to make smarter predictions about their needs and behaviors.” —Michael Abramow, director of Strategy and Insight, Japan and Asia Pacific, at Oracle

“There are two key components of customer engagement: advocacy and involvement. Engagement is measured by the sum of activities that build positive connections between a company and its customers, which result in greater involvement that positively impacts revenue.”—Curtis Bingham, executive director, Chief Customer Officer Council

“By immersing themselves in customer data, marketers can understand who their customers and prospects really are—and what they really want. That puts marketers in a much better position to serve up the best content at a time that’s most appropriate for each individual customer.” —Kevin Akeroyd, senior vice president of Oracle Eloqua

“As marketing morphs into the front-line force tracking and engaging consumers' changing behaviors, CEOs must give it the enhanced support it deserves. And you, as CMO, need to be able to demonstrate to the CEO why this is a strategic necessity.” —Oracle President Mark Hurd

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