“Social is increasingly becoming the platform of choice for consumers. And has had a profound and transformative effect on consumers and businesses—and this will only increase. It has upended the traditional marketing paradigm and underscored its importance for every consumer-facing department and application across the enterprise. Social is a disruptive technology that holds powerful possibilities for businesses and the entire consumer experience—if only embraced and integrated. Social (combined with cloud and mobile) will continue to transform consumer-to-business and B2B communications today, tomorrow and beyond.”It’s crucial that businesses today have the right technologies and strategies to reach, listen, learn, engage and respond with these ever-increasing “empowered consumers.”Key Stats:Facebook has 1B users worldwide (600 million active on mobile) Twitter has 500 million usersIt’s a multichannel/platform world – FB, Twitter, Instagram, Pinterest and beyond79% of U.S. adults use socialSocial networking makes up 20% of all online time – or nearly 1 of every 5 minutesCompanies average approximately 178 corporate-owned social media accountsOverall, almost two out of five (38%) online consumers follow retailers through one or more social networking sites.
Customer is in control now. Feedback channels have changed. How we engage with customers have changed…How well has your business adapted to new model?
The way businesses have responded to the change is to apply the same approaches that worked before but with incremental improvements Get into a price warIncrease marketing spend on traditional channelsReduce operational and support costsThese approaches have lacked the agility, insight and differentiation needed to be sustainable in fluctuating economies and transformational market shiftsThe Majority of US executives surveyed in the recent 2012 Global Customer Experience Disruptive Study byOkeeffe & Company stated that theyneed to update their company core values to include the most appropriate customer experience to allcustomers
Focus on CX pays
This table details specific goals and metrics associated with each of these stages. That way, you can keep your organization updated on your starting point, destination, and progress along the way.Measurable Metrics Demonstrate ROI for CX Investments How do you measure success? Some of the key measurements that indicate whether the behavior changes you want are actually happening include:Acquisition – Increase in traffic, whether via web, phone, chat, kiosk, or in whatever way your sales team engages customers. - Increase in conversion rate, with more interactions resulting in a sale. - Increase in Average Order Volume, more customers are finding and buying a more complete package.Retention – Increase in customer satisfaction. As your customers have better experiences and less frustration, their satisfaction and loyalty will increase. - Increase in Customer Effort Score (CES). - Increase in Net Promoter Score (NPS) and a decrease in churn.Efficiency – Increase in self-service success, your self-service site produces a higher percentage of solutions to resolve your customers’ issues. - Reduce cost per X, your agents will handle more cases, close them faster and close more in the first contact. - Reduce Selling, General, and Administrative Expenses (SG&A).
A recent Oracle survey revealed that 82% of companies lack visibility into profitability across their business. While most have visibility into profits at a corporate or division level, they don’t fully understand profitability by products, services, channels, customers, brands or projects. This is usually due to the time and effort it takes to accurately allocate revenues and costs to the right level of detail – and to do this on a repeatable, automated basis to provide the right insights to line managers.
Oracle CX’s solution approach is designed to help organizations across many industries create the consistent, connected, personalized, efficient, and rewarding experiences their customers and constituents want while generating real top-line and bottom-line business results.
Start anywhere in the full analytics capabilities spectrum and evolve integrating big data and more sources at your pace to enhance CX capabilities, particularly Smarter Sales, Commerce Anywhere, and Connected Service. We have customer success stories that dive right into any of one these analytic capabilities regardless of organizational size or industry. There is a progression though, the better the foundation, the more accurate and precise the CX decisions, and the better CX outcomes.
Basic CX use case and common issue.
How can you ensure your sales reps are selling the most appropriate products to yourcustomers based on what they own and need? Empower users with insight & tools to understand the customer perspective and sales history to quickly assess what the issues are. Poor-quality data is the most common challenge reported by 51% of executives surveyed in the EIU analytics study (EIU Insight to Foresight Study 2013), followed by a lack of adequate systems to gather and analyze data effectively. So addressing these issues ought to be top of mind for building and understanding a consistent voice.
4,400 stores across the U.S.A. CHALLENGES/OPPORTUNITIESMaintain 90,000 SKUs that are constantly changing and receives ~80,000 product search item hits each day on ACENET, company’s portal for ACE retailers to look up and search for products Provide Ace retailers and associates with up-to-date, accurate product information Keep product and key search attributes in ACENET standardized and organized Poor ACENET adoption rates, customer satisfaction impacted sales in storesRESULTSSet the foundation to enable vendors to on-board new products into ACENET and ensuring that all products follow description standards before receiving approval Improved user uptake on ACENET by 300% in the first project phaseAutomated dimension management and load item facets to enable guided navigation with Enterprise Data Quality-Endeca connectorhttp://www.oracle.com/us/corporate/customers/customersearch/ace-hardware-corp-1-ent-dq-ss-1901747.html
Over 80 pre-built analytic applications for multiple lines of business and industriesOver 800 pre-defined metrics for role-based intelligence Popular source adapters for data integration
An example of a sales dashboard to gauge sales and customer activity. User expectations for instant response time are also rising from fast and easy Google search and interactive video games using in-memory database technology in Exalytics to accelerate broad adoption and consumption of big data.
More big data easy to visualize and understand through geographic heat map views of customer locations or activity on mobile devices. Users can drill down from country views all the down or through to zip codes.
COMPANY OVERVIEWLeading alternative communications providers and sole convergent operator in Greece with 5.5 million customers, 400 retail stores, and a 30% share of the alternative marketsIndustry: CommunicationsEmployees: 1,580Revenue: US$1.47 billion CHALLENGES/OPPORTUNITIESMaximize cross- and up-selling opportunities by gaining a single view of customers from WIND and acquired companiesImprove campaign success rates, cut provisioning time for new communications services, and enhance customer support while cutting overheadBuild and adapt process flows across heterogeneous back-office systems rapidly and inexpensively to make new service options available to customers and meet regulatory needsSimplify management across IT stack and minimize downtime or performance issues in a critical, client-facing environmentSOLUTIONSSiebel Communications, Media, and EnergySiebel Contact CenterOracle Marketing AnalyticsSun SPARC Enterprise M9000, M5000, M4000Sun Netra T2000
There are conversations happening about you, your competitors, and your industry. Are you listening? Most firms do not have the tools, processes and metrics designed to capture and evaluate the dialogues and text produced by social platforms. Dialogues are long, unpredictable, and unstructured—they are unsuitable to be modeled through CRM analytics which derives meaning through the aggregation of structured, standardized information. Yet blogs, consumer reviews and third-party reviews disclose what customers want. They provide a rich source of information about customer sentiment, with context, that can help companies more accurately predict demand patterns. They shed Light on expert perception of your products and brand, and how your competitors position against them.
When used separately, both structured and unstructured data are useful tools for decoding the business. Let’s say you were evaluating the performance of a marketing campaign which didn’t hit the mark. Your CRM analytics provide the a picture of target audience size, and whether there were issues in fulfillment that impacted revenue performance, allowing the you to make better decisions about how to re-allocate precious dollars. Separately, analysis of twitter feeds and consumer reviews exposes the color and context locked within text-based feedback – holding the key to improving customer loyalty and satisfaction, accelerating product innovation, and impacting the bottom line. True power is unleashed when a you can make use of these disparate data sources together, to answer questions about what is driving performance by surfacing themes that might exist across information stored in internal systems, as well as found through external sources. When these themes are discovered, you need the ability to explore, to understand the reasons behind those themes, possibly adding more information and improved KPIs as new questions are surfaced. This capability is provided through data discovery. The new discovery insights need to be standardized and injected into the monitoring process; hence linking Big Data discovery with traditional BI tools.
OVERVIEWLand O’Lakes, with annual revenues of $12.8B, operates in the dairy products and agricultural services segments. It is owned by, and serves more than 300,000 agricultural producers and some 1,000 member cooperatives.CHALLENGES/OPPORTUNITIESMaximize profitability by positioning higher margin productsEnsure customer requests are properly handledLeverage detailed regional seed and crop protection data to drive salesCorrelate marketing initiatives with sales performanceSOLUTIONOracle Endeca Information Discovery (formerly Latitude) for interactive analytics on 20 data sources for 4000 sales and marketing users Oracle BI EE and Oracle BI Applications for enterprise reporting and dashboards, on JD Edwards and other transactional systemsCOMPANY OVERVIEWLeading distributor of crop protection products and agricultural seed in the United States.Industry: AgricultureEmployees: Revenue: $4B US CHALLENGES/OPPORTUNITIESThe world population hit 7 billion last year. Land O'Lakes knows that corn yields have to go from about 150 bushels an acre to about 200 to feed a growing world. Their Winfield division sells and distributes new strains of seed to increase farmers' crop yields. But first, they have to get the farmers to use the seed. Farmers are no-nonsense people. And they often can't weather even a single season of poor yields. So Land O'Lakes has to make the case with data.SOLUTIONFortunately, there's lots of data available. The trick is combining it cost-effectively and making it usable and useful. We helped Land O'Lakes combine data from their transaction warehouse that indicated which farmer had bought what, with data from the marketing data base that said which farmer had been pitched what seed, with data from "answer plots". These are fields Land O'Lakes plants all around the US at different latitudes in different soils with different seeds to demonstrate the actual yields. And all this was combined with government data on how many acres are planted with which crops. Multiple sources, all with different structures, some of which are outside Land O'Lakes’ control and can change at the drop of a hat.BENEFITSThis app is now being used by hundreds, and soon thousands, of salespeople -- many of them former farmers themselves. Land O'Lakes expects higher profit margins as a result. But already they estimate they saved 1.5 years and $4M by solving this problem with discovery technology instead of BI technology.The reason we can help these salespeople use complex data in a simple way is that the discovery app delivers consumer ease-of-use:It provides integrated search, faceted browsing, and analytics. These familiar tools, Google-like search, eCommerce browsing, and interactive visualizations, let non-technical users build up complex queries through simple, incremental steps.Faceted browsing across diverse data is an innovation pioneered in ecommerce. You can see it in the left-hand navigation at sites like HomeDepot.com, ESPN.com and Target.com. Facets are attribute value pairs like “color equals blue” or “part number equals 1234”. Faceted browsing shows all the possible, but only the valid, next refinements for your query. This is crucial when browsing across records that come from different sources and have different structures.The faceted analytical model encourages exploration. Because creating queries is just a matter of chaining facets together, users express their questions easily, asking more questions.CUSTOMER FEEDBACK“We’re very pleased with the results Endeca has given us. Combined with other activities, in the Winfield group (the crop inputs group), our volumes are up 20% this year and our profit is up nearly 30%”.“What we’ve learned is the Endeca tool allowed us to do it quickly, on the fly, at a much cheaper cost than the alternatives”Dan Knutson, CFO, Land O’Lakes
Add predictive analytics and scenario planning’s forwarding looking views to anticipate changing customer behavior and new opportunities or to forecast performance and to reduce risk and uncertainty. (EIU Insight to Foresight Study 2013)Adding foresight completes the historical and current views of insight for to better prepare and adjust to the future.
Although predictive analytics is the most critical according to executives for its very high business impact (EIU Insight to Foresight Study 2013), organizations have low adoption and usage of the predictive modeling, optimization, and data-mining capabilities. (Gartner BI Platforms User Survey 2011: Customers Rate the BI Platform Functionality) Empower users with the tools to that are easy to use and integrate with your heterogeneous environments.
Forwarding looking views to anticipate changing customer behavior and new opportunities or to forecast performance and to reduce risk and uncertainty. associations, patterns and relationshipsand fight fraud
Prevent potential loss of millions of dollars every year in prepaid cardsData remains in the DatabaseScalable, parallel, native implementation of data mining algorithms in SQL kernel Data preparation is automatedFastest path from data to insightsHighly productive development environment for predictive applicationsDatabase scoring engine pushes SQL mining functions to Exadata storage tierLowest TCOEliminate data duplicationEliminate separate analytical serversScalable, manageable and securehttp://www.oracle.com/us/corporate/customers/customersearch/turkcell-1-exadata-ss-1887967.html
Basic CX use case for economic and financial analysis.
A user friendly way to handle most complex economic and financial modeling requirements from short-term to long-term planning, forecasting, simulating CX drivers and effects, lifetime value, evaluate strategic projects, with accounting integrity. Market Opportunities are Missed Resources are MisallocatedPrices are Not OptimizedPlanning is FlawedTargets are Missed Many Companies Rely on Spreadsheets and Custom Solutions which is more error prone and difficult to maintain and limited reporting and analysis.
Then scenario modeling from the old way to the new, more accurate way of thinking in ranges by generating thousands of scenarios in a few seconds, with visibility into probabilities of success, and risk-based financial modeling for more informed decision-making.
With key performance indicators are integrated as needed on scorecards, managers can have full visibility into the status of the organizational strategy, objectives, key performance indicators, or initiatives through multiple visualizations (like maps, trees, contribution wheels, scorecards or tabular reports) a computer in the office, or on the go with mobile devices. Check on the status of a particular customer (satisfaction, profitability for the month, costs for the month, etc), the status of a process improvement initiative, the status of the organizational strategy and more. At lightning speed response times using in-memory database technology from Exalytics. Better, more up-to-date information on strategy and key performance indicators lead to better decision making about serving the customer and the company. powered by an in-memory databases
Another common CX use case and issue. Dynamically tailor content and offers to behaviors, profiles and preferences to increase customer conversion. Personalize search results to guide customer experience and increase average order valueCentrally manage catalogs, search, promotions, pricing, coupons, and offers to improve consistency and simplify site internationalizationMake a direct connection with your customers by tailoring the products, offers, recommended products to each particular customer based on information you know about them historically and what you know about them directly in their current interaction on your website.Your business users are empowered with the business tools to manage merchandising, promotions, and recommended products. Merchandisers can customize search results to maximize your profitability and deliver the appropriate search results back.Review cycles before publishing content is easy as well as managing other components like pricing, coupons, and offers.
Personalize the interactive journey with the customer’s history and interests that dynamically and instantly adjusts to each click for a more targeted and persuasive experience that maximizes their value. Interdependent cross-channel logic driving optimized customer experiences across all customer channels to deliver a personalized and connected interaction.
Another CX use case and common issue.
An example innovation is the computer manufacturer and solutions provider, Dell, that is transforming the customer experience by offering appropriate personalized, targeted products and services recommendations seamlessly across multiple channels. The Dell channels that are performing self-learning decisions to optimize next best actions are their Call Centers for Technical Service and Sales, Email, Social Media, and in process is the Dell.com site. Dell is using Oracle’s Real-Time Decisions in 15 countries and 30 languages to accomplish: $132M in incremental revenue for Fiscal Year 2012. 40% reduction in cost of dispatch. 20% Closure Rate & 30% increase in net promoter score for referrals30% increase in email conversion rate for net $35m in revenue10% Increase Revenue per Call & 20% Increase Profit Margin per CallWatch MarkSucrese from Dell, tell the story in this video: http://www.oracle.com/us/solutions/business-analytics/business-intelligence/real-time-decisions/overview/index.html
The systems rationalisation was supported with a business-model focus aligning all operational measures to Customer Experience Targets. Hence siloed, product-centric behaviour changed to customer-centric. Measures used as follows:Reduced Cycle-Time (E.g. Service provisioning)Right-First Time (E.g. problem resolution)Aligned:Challenge: Improve quality of business decision making at all levels of the organisation fom senior managers to customer-facing staff.Embed rationalised BI within customer-facing systems.Openreach Service DeliveryChanges to operating model as a result of regulatory pressures to detach infrastructure service delivery teams from Retail operations Orders falling through the cracks. Exception reporting implemented within one week of the problem being identified to fix the problem and save hundreds of thousands of pounds in customer recompense for mmissed delivery dates and potentially even larger sums of missed revenue due to poor customer satisfaction and churn.BT Retail Call Centres“Customer Viewer”: 360 view of business customers for retention handlers with exception reporting– more effective retention whilst reducing call handle times“Next Best Action” (RTD): High-volume consumer cross-sell & up-sell, increasing ARPU.Employee confidence that operational systems help them perform their duties.Also Key to retaining experienced staff in traditionally high turnover roles. Improved Cross Sell Lift by 8% Improved agents confidence that systems help them do their job from 26% to 86
Rather than Holland enforcing business rules that may or may not be actually effective -- they may be sort of tribal lore or tribal knowledge within the company -- Real-Time Decisions is taking actual analytical information, fact-based decision-making and using it in a real-time context to provide that optimized content and that optimized experience for our guests.
Room Key was founded by six major hotel partners: Choice, Hilton, Hyatt, InterContinental, Marriott, and Wyndham to differentiate the hotel shopping experience with a new customer value proposition. Once a shopper abandons a hotel’s direct web, they are prompted to RoomKey’s website for a wider selection including from competitors. There are now 125 million unique visitors to RoomKey’s web site in a year. 86 billion data points are evaluated automatically per day and marketing users manage to business goals by making real-time production decision framework changes. Marketing team averages more than a change a day. (334 changes in 314 days).900 million decision requests are processed per day, 120 data attributes are attached to each predictive model, 100 hotels on average per decision, 8 predictive models used per decision. Results are double digit revenue lift compared to the status quo, control group.