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Save At Risk Customers

Save At Risk Customers. Gina Marcon & Bill Hobbib. Safe Harbor Statement.

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Save At Risk Customers

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  1. Save At Risk Customers Gina Marcon & Bill Hobbib

  2. Safe Harbor Statement The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle. Technology Changing Everything Mobile, Digital, Socialvia the Cloud

  3. Customer Retention vs. Acquisition Customer Retentions Costs Less, Pays More Total Sales 6 to 7x More Expensive to acquire a new customer compared to retaining a current customer 20% New Customers & 80% Current Customers

  4. Customer Experience is Top of Mind C-Level Executives say: Customer Experience Objective Improvingcustomer’s experienceis top-3 priority 93% Currently developing formal customer experience initiative 98% YoY revenue estimated lost when fail to deliver customer experience 21% *2012 Global Customer Experience Disruptive Study: U.S.

  5. The CX perception chasm Can impact revenue by up to 20% 89% 49% but the truth is… of customers have switched already2 of executives believe customers will switch brands due to a poor customer experience1 39% 80% but the truth is … of business execs say they’re doing a Good to Excellent job of delivering a positive, relevant and consistent experience to their customers of companies earned a CX index of Good or Excellent from customers 1 “Global Insights on Succeeding in the Customer Experience Era,” Oracle, February 4, 2013. 2 RightNow (acquired by Oracle in March 2012) and Harris Interactive, “Customer Experience Impact Report,” December 2011.

  6. How do companies identify customers who intend to switch so they can be proactive and improve their retention rates?

  7. CAPTURE RELEVANT SIGNALS IN SOCIAL MEDIA IDENTIFY CUSTOMERS WITH INTENT TO SWITCH Save at risk customers to proactively improve retention rates and ROI UNDERSTAND CUSTOMER’S MOTIVATION ENGAGE WITH CUSTOMER IN SOCIAL MEDIA SOLVE ISSUE QUICKLY

  8. Capture Relevant Signals in Social Media Filter through noise in social media to target intentions for engagement Monitor Engage Measure Capture Filter global social conversations for relevant signal Identify customer intentions with indicators Engage with customers in real-time Measure outcome for ROI Listening Settings Latent Semantic Analysis Filtering Indicators Analyze Engage Sentiment Terms Intent to Switch

  9. Identify Customers with Intent to Switch Use indicators to quickly identify customers before they churn If you are not listening your competitors are Filter brand mentions by Intent to Switch indicator to identify at risk customers

  10. Understand Customer Motivation for Switching Many times customers post why they are considering switching Price Products

  11. Engage with Customers in Social Media Engage in real time with customers in same platform • Retain or gain new customers talking about making a switch by engaging with them in social media. • Only view and auto assign posts with intention indicators • Send posts to Oracle CRM systems to resolve offline and track

  12. Solve Customer Issues in a Timely Manner Continue to solve issues for customers to improve retention rates Boost retention rates by responding and solving problems quickly and efficiently.

  13. Oracle SRM Easily identify and engage with at risk customers increases retention • Key Features

  14. Deliver Great Customer Experiences Wherever your customer touches your brand In Store Contact Center Social Field Service Mobile Direct Sales Channel Sales Web Oracle Customer Experience (CX) ApplicationsSocial Relationship Management, RightNow, Siebel, Sales Cloud, CRM On-Demand, Endeca, ATG

  15. Resources • Visit Oracle.com/social for more information.

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