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QA: Oracle's Rod Johnson on Building Industry-Specific CX Solutions
In the age of social and mobile technologies, customers have more knowledge and power than ever before. Given this new reality, customer experience (CX) is one of the few ways organizations can still differentiate themselves.
So it's no surprise that demand for CX solutions is on the rise. However, excellent customer experience requires different approaches and processes for different industries. So we asked Rod Johnson, Oracle’s vice president for industry strategy and development, how Oracle is solving the CX equation for individual industries.
Q. Please briefly define CX and explain why it is on everyone's radar.
A. CX is the sum of all of a customer's or prospect's interaction with a brand across all channels. Since customers really call the shots, success increasingly depends on the ability to provide experiences that are simple, consistent, personal, and relevant—regardless of touch point.
Q. Why are industry-specific solutions important when it comes to CX?
A. There is a core set of commonalities across industries, yet each industry has its own discrete and highly specific set of processes. For example, a communications customer has very different concerns and expectations than a healthcare customer or a small business applying for a business loan.
Q. What is Oracle's strategy for industry-specific CX?
A. Our goal is to provide the best-in-class CX across all industries—and we're in a unique position to achieve this. First of all, we have the most complete CX portfolio on the planet, from commerce to social to service and core customer relationship management applications. At the same time, we have decades of industry experience engineering solutions for individual industries. That means we really understand the specific data models and business processes that are needed to deliver on customer expectations.
Q. Where are you seeing the most interest in adopting CX solutions?
A. There are three areas where we're seeing high levels of interest: business-to-consumer (B2C) industries such as retail, communications, and consumer electronics; service-oriented industries such as financial services; and the public sector.
B2C organizations—especially communications and retail companies—are definitely embracing CX, first with tools to optimize the buying and service experiences and now, increasingly, to deliver seamless experiences—regardless of channel or touch point.
CX is also clearly fundamental to service-centric industries such as financial services. They gain competitive advantage when they can offer highly personalized experiences—and real-time offers that are far more likely to generate cross-sell or up-sell.
Finally, public sector government-to-citizen organizations have shown a real commitment to CX, even as budgets grow tighter. This makes sense, since citizen expectations are quickly rising as other online experiences set expectations. Bringing services online across channels is one aspect of citizen’s experience that begins to address both challenges. Plus, Oracle's leadership in information security and policy automation puts us at the forefront for this sector.
Find out more about Oracle's CX industry solutions.