Welcome!

Cloud Expo Authors: Roger Strukhoff, Paige Leidig, Gilad Parann-Nissany, Scott Bampton, Carmen Gonzalez

News Feed Item

New Oracle Global Research Study Finds that Brands Could Lose up to 20% of Revenue Due to Poor Customer Experiences, Yet Many Struggle to Develop Successful Strategies

Report Highlights Need for New Approaches to Succeed in Customer Experience

REDWOOD SHORES, CA -- (Marketwire) -- 02/04/13 -- Oracle (NASDAQ: ORCL)

News Facts

  • Today Oracle announced the results of its "Global Insights on Succeeding in the Customer Experience Era" report. This global survey of 1,342 senior-level executives from 18 countries in North America, Europe, Asia Pacific and Latin America yields new insights on the challenges, strategies and lessons learned for succeeding in the customer experience era.

Key Findings

  • Global Strategic Priority with Huge Financial Stakes: Ninety-seven percent of executives agree that delivering a great customer experience is critical to business advantage and results, and respondents estimate that the average potential revenue loss for not offering a positive, consistent and brand-relevant customer experience is 20% of annual revenue.
  • Businesses Stuck in Idle: Ninety-three percent of executives say that improving the customer experience is one of their organization's top three priorities in the next two years, and 91% wish to be considered a customer experience leader in their industry. However, many organizations are stuck in an execution chasm; 37% are just getting started with a formal customer experience initiative, and only 20% consider the state of their customer experience initiative to be advanced.
  • The Perception Chasm: The study revealed that business executives underestimate the impact of customer experience on behavior. Forty-nine percent of executives surveyed indicated that customers will switch brands due to a poor customer experience, but a full 89% of customers say that they actually have switched brands due to a bad customer experience. (1)
  • Social Media - A Key Driver for the Future: Social media amplifies the customer voice, and businesses are scrambling to answer. Eighty-one percent of executives believe that delivering a great customer experience today requires leveraging social media effectively. But, 35% do not have social media for sales channels, and 35% do not have social media for customer service.
  • Technology, People and Processes Present Significant Obstacles: Executives cite limitations from inflexible technology, siloed organizations and systems, and insufficient investment as the biggest obstacles to delivering the best possible customer experience.
  • Businesses Are Investing in Customer Experience: On average, businesses estimate that they will increase spending on customer experience technology by 18% in the next two years. Improving the cross-channel experience and customer analytics are top priorities.
  • Lessons Learned: A good customer experience strategy requires fundamental organizational changes. Successful initiatives that have improved the customer experience span people, process and technology. Executives at organizations that consider their customer experience initiatives as "advanced" appear to have been most successful in engaging their employees by:
    • Building training programs and incentives for employees to offer a great experience
    • Updating company core values to include customer experience
    • Implementing a specific technology to improve customer service
  • Access the full report -- which delves extensively into the obstacles organizations face and the programs they are putting in place to deliver excellent customer experiences.

Supporting Quotes

  • "This report demonstrates that organizations around the globe and across many industries are beginning to understand the real business impact of not offering great customer experiences, but are facing execution challenges. We recommend that organizations map their customers' journeys to identify specific improvement areas that will help them cross the execution chasm. By empowering customers and employees, breaking down organizational silos, and implementing flexible processes and technology tools, organizations can deliver personalized, seamless customer service through the entire experience lifecycle," said David Vap, group vice president, Oracle.

Supporting Resources

About Oracle
Oracle engineers hardware and software to work together in the cloud and in your data center. For more information about Oracle (NASDAQ: ORCL), visit www.oracle.com.

Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Footnotes
(1) According to The 2011 U.S. Customer Experience Impact (CEI) Report by RightNow (acquired by Oracle in March 2012)

Add to Digg Bookmark with del.icio.us Add to Newsvine

Contacts
Christine Randle
Oracle
+1.703.364.0598
Email Contact

Janice Clayton
O'Keeffe & Company
+1.443.759.8151
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@CloudExpo Stories
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, will discuss how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP ...
When an enterprise builds a hybrid IaaS cloud connecting its data center to one or more public clouds, security is often a major topic along with the other challenges involved. Security is closely intertwined with the networking choices made for the hybrid cloud. Traditional networking approaches for building a hybrid cloud try to kludge together the enterprise infrastructure with the public cloud. Consequently this approach requires risky, deep "surgery" including changes to firewalls, subnets...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at Internet of @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., will show what is needed to leverage the IoT to transform...
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...
We are all here because we are sold on the transformative promise of The Cloud. But what good is all of this ephemeral, on-demand infrastructure if your usage doesn't actually improve the agility and speed of your business? How must Operations adapt in order to avoid stifling your Cloud initiative? In his session at DevOps Summit, Damon Edwards, co-founder and managing partner of the DTO Solutions, will highlight the successful organizational, process, and tooling patterns of high-performing c...
SYS-CON Events announced today that O'Reilly Media has been named “Media Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. O'Reilly Media spreads the knowledge of innovators through its books, online services, magazines, and conferences. Since 1978, O'Reilly Media has been a chronicler and catalyst of cutting-edge development, homing in on the technology trends that really matter and spurri...
SYS-CON Events announced today that Stratogent will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Stratogent is a custom managed services organization based in San Mateo, California. We design, implement, and support mission critical infrastructure 24x7 on premises, in datacenters and in the Cloud. Since 2005, we have acted as an extension of internal IT teams, achieving a customer reten...
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue bu...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. ...
Seagate has a strong track record of collaborating with others to develop better cloud solutions. The Seagate Cloud Builder Alliance program, for example, leverages the company’s knowledge of storage and cloud-optimized solutions to give cloud service providers the customized, flexible and scalable server and storage solutions to meet the high levels of service their customers demand. Seagate also is a member of the OpenStack Foundation and Open Compute Project to help define and promote open-so...
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce t...
What process has your provider undertaken to ensure that the cloud tenant will receive predictable performance and service? What was involved in the planning? Who owns and operates the data center? What technology is being used? How is it being supported? In his session at 14th Cloud Expo, Dave Weisbrot, Cloud Business Manager for QTS, will provide the attendees a look into what it takes to stand up and stand behind a highly available certified cloud IaaS.
I'll be hosting an SAP HANA Cloud webinar at 11am eastern time, Wednesday, October 29. You can sign up now. Featured speakers will be Allan Adler, Managing Partner, Channel Cloud Consulting, and Thorsten Leiduck, VP ISVs & Digital Commerce, SAP. Attendees will learn about • Cloud economics, hybrid cloud strategy, market size and opportunity • Introduction to SAP HANA Cloud Platform and how to: - Build new next-generation applications - Extend on-premise solutions non-disruptively throu...
SYS-CON Events announced today that Gigaom Research has been named "Media Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Ashar Baig, Research Director, Cloud, at Gigaom Research, will also lead a Power Panel on the topic "Choosing the Right Cloud Option." Gigaom Research provides timely, in-depth analysis of emerging technologies for individual and corporate subscribers. Gigaom Research'...
How does one bridge the gap between traditional enterprise storage infrastructures and the private, hybrid, and public cloud? In his session at 15th Cloud Expo, Dan Pollack, Chief Architect of Storage Operations at AOL Inc., will exam the workload differences and required changes to reuse existing knowledge and components when building and using a cloud infrastructure. He will look into the operational considerations, tool requirements, and behavioral changes required for private cloud storage...
Sanjeev Sharma is the latest author to join DevOps Journal. Sanjeev is a solution architect and DevOps Worldwide lead with Rational Software, an IBM brand and the author of 'DevOps for Dummies.' DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. SYS-CON Media CEO Carmen Gonzalez is founder and publisher of DevOps Journal, and Roger Strukhoff, long-time SYS-CON editor and the conference chair of Cloud Expo is the editor of the world's leading DevOps...
Join both SAP and Channel Cloud Consulting for our webcast and uncover how you can extend your reach to capture a piece of the US$17 billion cloud application services market with SAP. Learn about SAPs market-leading SAP HANA Cloud Platform and an exciting opportunity to join SAPs growing ecosystem of Application Development partners. When: October 29, 11:00am EST Speakers: Allan Adler, Managing Partner, Channel Cloud Consulting Thorsten Leiduck, Vice President ISVs & Digital Commerce, SAP
SYS-CON Events announced today that IBM is holding a Bluemix Developer Playground on November 5, 10:30 am to 5:30 pm at 15th Cloud Expo. 15th Cloud Expo, co-located with @ThingsExpo, Big Data Expo, and DevOps Summit is taking place Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. The labs, for developers of all levels, will highlight the ease of use of Bluemix, its services and functionality and provide short-term introductory projects that developers can complete betw...
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo, moderated by Ashar Baig, Research ...
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, da...