rising to the challenge – oracle’s 2015 cx year in review coffee break cut

Copyright © 2015, Oracle. All rights Reserved.

Rising to the challengeThe Year in ReviewOracle Coffee Break Cut


CX has been grappling with constant change, digital disruption and customers who are in control.

Those challenges haven’t gone away. But in 2015, CX has risen to them.

It’s the Age of the Customer and organisations are now putting their customers first. They’ve turned to behavioural science for new customer insights, and they’re using data to create a personalised experience.

Businesses have been grappling with constant change in the way they interact with customers: the balance of power has shifted and customers are in control.

These challenges aren’t new. But in 2015, businesses have risen to them.

In the Age of the Customer, organisations have to put their customers first. To do this, they’ve turned to behavioural science for new customer insights, and they’re using data to create a personalised experience.


#AgeOfTheCustomer


In 2015 we’re firmly in the age of the customer – and its impossible to be too customer-focussed

“Executives don’t decide how customer-centric their companies are – customers do.”

– Kate Leggett, VP, Principal Analyst, Forrester

https://www.zendesk.com/resources/forrester-trends-2015/


“You’ll only be successful if you become customer-obsessed, so you must plan to go ‘to customer’ not ‘to market’, and base your planning cycle on the needs and preferences of your customers.”

– Peter O’Neill VP, Research Director, Forrester

http://blogs.forrester.com/peter_oneill/15-09-03-dont_plan_a_go_to_market_strategy_for_2016_create_your_go_to_customer_plan


It’s all about putting the customer first

“Customer Relationship Management is intended to be the act of stepping outside of ourselves to understand the true wants, needs and expectations of the customer.”

– Michael Maoz, Vice President and distinguished analyst, Gartner

http://blogs.gartner.com/michael_maoz/2015/10/15/the-mediocrity-of-a-360-degree-view/


…and understanding that the customer will get even more powerful in the future

“By 2022 the customer will hit you full on with their own advanced analysis of their and their cohort group’s relationship with you, and you versus the competition, and guess who’ll lose? Not the customer.”

– Michael Maoz, Vice President and distinguished analyst, Gartner

http://blogs.gartner.com/michael_maoz/2015/10/15/the-mediocrity-of-a-360-degree-view/


But not everybody is getting it right

“While most companies today claim to put their customers first, a surprisingly small number are actually doing it right. The key is making customer-centricity the responsibility of the entire organization and not just a few departments.”

– Daniel Newman, Forbes

http://www.forbes.com/sites/danielnewman/2015/02/17/marketing-building-a-customer-centric-marketing-eco-system/


You can’t simply ‘fix’ CX, it has to keep evolving

“Even if you manage to create an optimum customer experience, it has a habit of changing, which makes the situation a constant battle for continuous improvement.”

– Yunus Ozler, Partner, Ernst & Young

http://www.computerweekly.com/feature/Customer-experience-management-figures-as-way-to-stand-out


…because the customer is always one step ahead

“The holy grail is to be 100% responsive to customer expectations, but that’s almost impossible, so you have to keep on shifting and growing.”

– Yunus Ozler, Partner, Ernst & Young



#ShiftYourFocus


CX is all about a shift in focus. Not just about software

“Customer experience isn’t really a market per se. It’s a business goal and, while technology can help you get there, the term hasn’t yet been usurped into just buying software.

Instead, it’s all about doing things that benefit the customer rather than things that benefit the organisation.”

– Ed Thompson, VP Distinguished Analyst, Gartner



The tools are there. But organisations aren’t getting the most out of them

“Companies continue to flounder because, while IT is delivering innovation, employees are not engaged with the customer processes that matter.”

– Michael Maoz, Vice President and distinguished analyst, Gartner Research

http://blogs.gartner.com/michael_maoz/2015/10/05/amazing-it-plus-low-employee-engagement-equals-failure/


“Empathy is key to creating rewarding customer experiences, and it has been lost in today’s corporate culture. When you are empathetic toward your customers you understand their full lives – and therefore designing a rewarding experience for them is simple.”

– Brian Solis, Digital Analyst

http://www.briansolis.com/2015/08/investing-digital-customer-experience-enhances-customer/


#StickyCustomers


We’ve got to get to know our customers

And realise that loyal customers don’t exist…

“There is no loyalty towards brands. If we switch brands we don’t feel the psychological counterbalance of shame and guilt about the company we’re leaving behind.”

– Philip Graves, Consumer Behaviour Consultant

http://philipgraves.net/the-customer-loyalty-myth/


…but ‘sticky’ customers do exist

“Where consumers use you more than your competitors, you have stickiness, not loyalty. Stickiness puts the sole focus on behavior – there is no place for attitudinal claims.”

– Philip Graves, Consumer Behaviour Consultant and Oracle

https://go.oracle.com/LP=10997?elqCampaignId=20406&cmid=EMEAFM14044629MPP034&Src1=EM:EO:SH:&Src2=Vanity


And you can create stickiness by being the easiest to use…

“3 ways to increase stickiness: • Measure behaviour • Get creative – if you do what you’ve always done,

you’ll get what you’ve always got• Use digital channels to test, measure and refine”

– Philip Graves, Consumer Behaviour Consultant and Oracle

https://go.oracle.com/LP=10997?elqCampaignId=20406&cmid=EMEAFM14044629MPP034&Src1=EM:EO:SH:&Src2=Vanity


Which means creating an exceptional customer experience:

“Here’s how: • Make it effortless • Become good by association • Limit disappointment. Customers hate losing out. • Deliver anchors of good experience”


http://www.oracle.com/us/dm/dmo100384283-oracle-creativestory-2406869.pdf


#EngageToWin


Brands need to create personalised experiences

“In an era where customers value tailored experiences, personalization is not just a nice-to-have option, but a must-have marketing strategy.”

– Daniel Newman, Forbes

http://www.forbes.com/sites/danielnewman/2015/07/28/the-key-to-personalization-is-data/


And departments need to work together

“Many B2B companies sit on a trove of customer data, yet it often resides piecemeal in unlinked databases.”

– Mark Kovac, Bain

http://www.bain.com/publications/articles/bought-not-sold-marketing-and-selling-to-digitally-empowered-business-customers.aspx


With everyone engaged – including your employees

“Sales leaders need to translate the organization’s vision, mission and values into a meaningful context that sales teams can relate to and feel excited by. This transforms an ordinary sales team into a high performing one.”

– Jonathan Farrington, Consultant and Sales Strategist, Jonathan Farrington & Associates

http://www.jonathanfarrington.com/the-importance-of-building-a-shared-mental-model-2/


“Make no mistake about it: The entire service- profit chain begins with, and absolutely depends on, engaged employees.”

– Rajat Paharia, Founder, Bunchball

http://www.briansolis.com/2015/02/deliver-great-customer-experience-stop-focusing-customer/


There’s still some work to be done

“Only 40% of sales leaders said their reps had a strong understanding of their company’s differentiation.”

– Mark Kovac, Bain

http://www.bain.com/about/people-and-values/our-team/profiles/mark-kovac.aspx


#DifferentButTheSame


Not everything has changed

The essence of the relationship is still the same

“Business relationships are built upon trust, memory, and mutual self-interest.

You already have basic technology building blocks. What remains is the concept and practice of maintaining business relationships, where the customer relationship is maintained and nurtured.”

– Tad Travis, Research Director, Gartner

http://blogs.gartner.com/tad-travis/2015/08/21/the-most-underused-capability-of-sfa-systems/


“Three things to keep in mind:

1. Every significant customer interaction and every bit of account intelligence needs to be captured in the SFA, not buried in emails.

2. Managers must regularly review account, opportunity, and account plan records for completeness, accuracy, and frequency of updates.

3. A bit of process automation can go a long way. Give representatives custom tools in the SFA that make it easy for them to capture account details.”

– Tad Travis, Research Director, Gartner

http://blogs.gartner.com/tad-travis/2015/08/21/the-most-underused-capability-of-sfa-systems/


“Technology is introducing new opportunities to improve customer relationships and ultimately the experiences we want them to have and share. As crazy as all this new stuff is, companies now have the opportunity to become more human and more relevant than ever before.”


http://www.briansolis.com/2015/03/transform-digital-customer-experience-connected-customer/


Sales is evolving – from point selling to consultative selling

“By transforming your reps into advisors, not only will you sell more, but you’ll also protect and grow future market share.”

– Emily Creech, Product Marketing Manager, Oracle Sales Cloud

https://blogs.oracle.com/cx/entry/be_an_advisor_not_a


“Buyers increasingly use mobile touchpoints, self-service, and digital channels to interact with companies and most sales organizations can’t support this.”

– Kate Leggett, VP, Principal Analyst, Forrester

http://blogs.forrester.com/kate_leggett/15-08-18-the_fragmenting_sfa_ecosystem


And we’ve got new ways of understanding our customers (who aren’t as rational as we thought)

“Our behaviour is driven by our unconscious mind, and that’s incredibly sensitive to the context we’re in.”


https://go.oracle.com/LP=20219/?elqCampaignId=26387/?


#StayAhead


The emphasis is on being prepared. Being strategic, not reactive.

“High-performing companies look at strategic planning as a continuous process with a focus on customer value and loyalty.”

– Nigel Fenwick Vice President and Principal Analyst, Forrester

http://blogs.forrester.com/nigel_fenwick/15-04-16-four_strategy_tips_in_the_age_of_the_customer


Beware the evolving landscape.

“For every company, there is a disruption event on the horizon. The scary question isn’t if, it’s when will this event will unfold (if it hasn’t already)?”


http://www.briansolis.com/2015/11/insiders-guide-digital-transformation-path-innovation/


Be careful with your customer data

“One of the consequences of online disasters is a massive wake up call to us as consumers about the value of our data, especially when it falls into the wrong hands.”

– Anne Marie Forsyth, CEO, CCA

http://www.cca-global.com/content/news/?SelNewsID=235


It’s tough to stay one step ahead. But you can be prepared

“It is unlikely that the clever fraudsters will ever stop innovating, but their efforts must be more than matched by organisations in whose systems we have placed our trust.”

– Anne Marie Forsyth, CEO, CCA

http://www.cca-global.com/content/news/?SelNewsID=235


#TheYearAhead


What does the future hold?

Advanced software will help people do what they do best

“Lead management & Configure, Price and Quote are the hottest technologies sales are relying on in 2015. If you don’t have any of these technologies on your roadmap you may be playing it too safe.”

– Ed Thompson, Kimberly Collins, David Kohler, Brian Manusama, & Tad Travis, Gartner via Louis Columbus, Contributor, Forbes

http://www.forbes.com/sites/louiscolumbus/2015/04/12/whats-hot-in-crm-applications-2015-why-cpq-continues-to-accelerate/


The benefits of adopting modern CPQ solutions: + 27 percent shorter sales cycles1 + 2x increase in customer facing sales-time (after mobile implementation)2 + US$50 million increase in pre-tax earnings (after implementing price discipline across sales teams)3

Oracle1. Aberdeen Research, Configure-Price-Quote: Best-in-Class

Deployments that Speed the Sale, July 20132. Oracle CPQ Cloud customer result3. Bain, Is Complexity Killing Your Sales Model?, January 2013

http://www.oracle.com/us/dm/100401807-crm-erp-intergration-2491057.pdf


And there will be opportunities for those in charge of the customer experience to take on a more strategic role

“Service is the only part of the organisation customers actively seek out.

Between now and 2020 service will come out from the shadows and into the boardroom with an equal share of influence.”

– Jo Brealy, Senior Marketing Director, CX & Service Cloud, Oracle


With the right tools and the right attitude, transformation is possible

“I wish I could say it’s just the technology. What it actually takes is courage. Leadership. An attitude that’s not ‘think out of the box’ it’s ‘don’t even see the box’.”

– Safra Catz, Oracle CEO

https://www.youtube.com/watch?v=fjk8coPvuao


This is #ModernCX

Start 2016 with the Modern Customer Experience and get ahead of the pack. Register Here

http://www.moderncustomerexperience.oracle.com/london/?source=WWMK15025623MPP007C003-OW:O:S:RB-CxLondonCbcBanner1

rising to the challenge – oracle’s 2015 cx year in review coffee break cut

Leadership & Management