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In May, Oracle released two
customer experience (CX) surveys. They revealed that B2C commerce
professionals are pushing the envelope with advanced CX and customer
loyalty strategies, while B2B commerce professionals are doubling down on
omni-channel CX.
"Consumer expectations continue to change the way both B2B and B2C
businesses sell online," said John Andrews, vice president of Product
Management, Oracle. "In B2C there is a renewed focus on increasing
loyalty as competition grows at a fever pitch. Meanwhile, B2B organizations
are still under increasing pressure to adopt B2C commerce best practices.
Developing customer-centric approaches and investing in omni-channel
initiatives will be key to online revenue growth for both B2B and B2C
organizations in 2014."
Here, get more insight into these
surveys in the latest issue of Profit.
Plus, find out more about the best ways to earn competitive differentiation
by offering a distinct customer experience, and discover how focusing on
customers can lead to category-killing innovation.
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"You have to be more
nimble, you have to be platform-agnostic, and you have to be willing to
change the course quickly," says social media expert Gary Vaynerchuk,
author of Jab, Jab,
Jab Right Hook. "Platforms die, platforms are created.
That's the name of the game."
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"You should really
ask the question 'Why do our customers buy from us rather than from our
competitors?' If you can answer the question—and build consensus around
it—then you are starting to get at the heart of your differentiation and
competitive advantage," says Niraj
Dawar, author of Tilt:
Shifting Your Strategy from Products to Customers.
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"An optimal customer
experience management support approach should explicitly take into account
the high dynamism of the field, with quick changes to both the customer
preferences and the available technology," says Petar Kajevski,
a director in the Insight and Customer Strategy team at Oracle.
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"There will always
be a competitor in the market who can beat you on price. Competitors can
always increase research and development spending and try to out-innovate
you," explains Suresh
Sidhu, chief corporate and operations officer at Celcom.
"But it's much harder for a competitor to disrupt the strong,
positive relationship we are building with our customers. We believe it's
the market's best differentiator."
Fox Head's e-commerce
strategy puts users in the driver's seat.
KIND's mix of product
quality and social mission has been a recipe for rapid growth.
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Because personal work
devices have proliferated so rapidly, CIOs have to build a strategy
immediately. According to Gartner, 80 percent of all user access to the enterprise
will be via mobile devices by 2020 (compared to only 5 percent today). To
get started, here are three concepts to incorporate into your strategy.
The convergence of these
trends is creating a coming wave of disruption that will let companies
drive improved customer satisfaction, sustainable competitive advantage,
and significant growth in enterprise value—but only if you are ready for
it.
Becoming customer centric
isn't just a state of mind. It means learning new skills, so that you can
take today's rapidly emerging marketing automation tools, and apply them
to create relevant, targeted, and valuable customer experiences.
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Enterprise architects are
among a CIO's most trusted advisors. Watch this on-demand webcast featuring
a Gartner distinguished analyst to learn more about the role, value, and
best practices of enterprise architecture.
Watch the on-demand webcast
here.
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For Celcom, customer
experience is the way back to the top.
Get the best of Oracle's
executive content, blogs, podcasts, and in-depth articles from Oracle's Profit Magazine.
Get more news and opinion
about Oracle applications and business strategy from Profit Online.
Get your free
subscription to Profit
magazine.
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