interested in deploying technology that delivers automated, actionable insights.
allocating a portion of resources to experimenting with new tech.
looking into AI and advanced analytics to design proactive CX.
New research makes it clear that CX professionals are investing in innovative ways to stay ahead of customer demands. By putting the customer at the center of your business, you can turn their ever-evolving power into higher revenues, lower costs, and lasting loyalty. But, traditional technologies don’t allow you to keep up. Businesses need a more flexible, future-ready approach driven by emerging technology to deliver tomorrow’s experiences, today.
Service teams are the often the first and last lines of defense in delivering customer experience, and they’re being held to high standards. 75% of today's customers expect "now" service within five minutes of making contact online. They want to interact when they want, how they want, and where they want, which opens several opportunities for customer service teams to leverage technology that can match them with customer expectations and improve experiences.
Sales teams need to be able to drive revenue, find new leads, and close deals, all while ensuring the experience is fast, personalized, and relevant for the prospective buyer. Delivering anything less than what’s expected could mean losing the deal and driving customers straight to the competition. It’s a shift from simply hitting numbers to requiring sales teams to be an active part of the customer’s overall experience. Customer experience is becoming a key KPI to guide sales’ efforts and measure success, and top teams are investing in technology to help them meet new goals.
The buyer’s journey is no longer linear—it’s a complex web of interactions across different channels, locations, and devices. Every customer is unique, and commerce teams are tasked to meet their unique needs and deliver relevant offers when they’re purchasing products, whether it’s B2B or B2C. By constantly innovating to find ways to deliver better customer experiences, top commerce teams can keep up with shifting dynamics and use technology to connect data, embrace automation, and personalize omni-channel.
Marketing teams are changing the way they operate to put a focus on the holistic customer experience. They’re taking on new responsibilities to reflect the voice of the customer, ensuring that understanding customer needs is at the core of customer experience strategies. Marketing teams are also incorporating new technology to deliver more targeted offers on a broader range of evolving channels—90% of marketers believe that cross-channel experience is critical to marketing success.
The field service industry has drastically changed, and many companies and employees have been thrown into a world they don’t immediately recognize. It’s estimated that by 2025 there will be more than 21.5 connected IoT devices in use, yet despite the increasing complexities and ubiquity that comes alongside that, 52% of companies still organize work and perform tasks related to them manually. It’s clear consumers love “smart things,” and in order to survive, field service companies must now determine how they can better manage a new set of customer expectations driven by the digital age.
A 92% customer retention rate exists for companies with a well-crafted, holistic CX approach, which stems from aligning the entire organization and investing in technology that will digitally transform the business to stay ahead of customer expectations.
Customers now demand frictionless,in-the-moment gratification,and they’re using more digital channels than ever to get it. 17% of total US retail sales are expected to come from ecommerce by 2022. Business’ in this industry #1 competitors are speed of fulfillment and ease of the shopping experience—convenience now trumps price. Changes CPG & Retail companies need to make now include getting smarter with data, thinking differently, and fulfilling perfectly.
Businesses are seeing a rapid proliferation of innovative tech embedded in products to create easier,more personalized ways for customers to conduct business. 75% of large manufacturers will leverage IoT and AI to mitigate risk and increase speed to market. Changes companies need to make now include developing a frictionless, customer-centric strategy and automating outcomes by strategically managing data.
Retail banking is experiencing disruptions with advancements in tech to keep up with evolving customer demands.Businesses are struggling to resonate with customers—50% of digital banking initiatives will fail because banks aren’t able to deliver an authentic, trustworthy human experience. Changes companies need to make include engaging proactively, creating intelligent interactions, and ensuring fast, secure, and compliant transactions.
Utilities companies grapple with competing concepts: the need to provide reliable service, and implementing new technology, new thinking, and new strategies. This two-pronged approach requires a delicate balance of establishing the necessary foundation today that reaches the customer-centric grid of tomorrow. But, 80% of organizations feel unprepared for the future. Changes business’ in Utilities need to make now include creating dynamic customer experiences, managing peak demand seamlessly, and breathing new life into old customer touchpoints.
It’s more important than ever for your business to take a new approach to developing and delivering seamless, end-to-end customer experiences. Lasting loyalty is harder to come by with rising customer expectations—You have to be unforgettable. Oracle CX helps brands do this with a complete line of applications specifically designed for you to deliver tomorrow’s customer experiences, today.
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