Welcome!

Artificial Intelligence Authors: Liz McMillan, Yeshim Deniz, Elizabeth White, Pat Romanski, William Schmarzo

News Feed Item

81% of Shoppers Willing to Pay More for Better Customer Experience, Oracle Research Shows

Customer Experience Provides Strategic Driver for Business Growth

REDWOOD SHORES, CA and READING, UNITED KINGDOM -- (Marketwire) -- 12/10/12 -- Oracle (NASDAQ: ORCL)

News Facts

  • Research released today from Oracle has revealed that customer experience is now a key driver for revenue growth in Europe, and an effective channel for brand differentiation in a globalized economy where products and services are increasingly commoditized.
  • The research report, "Why Customer Satisfaction is No Longer Good Enough," reveals that 81% of consumers surveyed are willing to pay more for superior customer experience. With nearly half (44%) willing to pay a premium of more than 5%.
  • Improvement of the overall customer experience (40%), providing quick access to information and making it easier for customers to ask questions (35%) were cited as key drivers for spending more with a brand.
  • The pan-European research, carried out in June 2012 by independent research company Loudhouse, surveyed 1400 online shoppers (50% female, 50% male) who had made a complaint or enquiry to a customer service department in the last 12 months.
  • For full research findings please go to: http://bit.ly/UwmB3j

Research Highlights

  • Benefitting from churn: In addition to driving new revenue growth, a good customer experience is also essential to protecting existing revenue channels. Seventy percent of respondents have stopped doing business with a brand following a poor customer experience. Importantly, 92% of this number have gone straight to a competing brand and made a purchase. With fewer than a quarter of consumers (22%) nearly always satisfied with their customer experience, there is a clear opportunity for brands to improve customer service to win market share from competitors.
  • Drivers for revenue growth: The survey has indicated steps businesses can take to benefit from the opportunities provided by a positive customer experience. Respondents said that the top five changes to customer experience that would lead to them spending more money with that company are:
    • 40% - Improvement in the overall customer experience
    • 35% - Ensuring questions can be asked easily and information accessed before making a purchase
    • 32% - Adopting an easy return policy
    • 26% - Improving the overall website usability and search functionality
    • 20% - Providing customers with a more tailored/personalized shopping experience
  • Brand loyalty: Eighty-two percent of respondents describe their experiences as requiring too much effort, suggesting that brand loyalty is closely linked to ease of communication. Respondents listed having to use different methods of contact to resolve an issue (26%) and using different methods several times (24%) as the point at which dealing with customer service requires too much effort. Businesses wishing to benefit from the revenue implications of providing a good customer experience therefore need to focus on making their customer interactions as simple as possible.
  • Social media: The research also revealed that many organizations are failing to make the most of the customer experience opportunities available to them through social media channels, with only 46% of respondents claiming to have received a reply from a company after posting a comment. The research indicates that 29% of these became angry when the response failed to resolve their issue.

Supporting Quotes

  • Danny Rippon, CRM Business Solutions Director, Oracle, said: "Our report has made one thing absolutely clear: getting customer experience right can help increase revenue and win customers away from competing organizations. By creating a consistent and connected experience across all points of customer contact -- including the increasingly important social channel -- businesses can clearly differentiate themselves and build priceless brand capital. As an absolute fundamental, businesses must ensure that their customer experience systems can support fulfillment and service to the extent demanded by consumers, while at all times making it as simple as possible for them to interact with the brand. This is the key both to winning new customers and retaining them for the long-haul."

Supporting Resources

Notes to Editors
The survey focused on 1400 online shoppers (50% female, 50% male) who had made a complaint or enquiry to a customer services department in the last 12 months. The survey was conducted by market research company Loudhouse in the UK, Germany, France, Sweden, the Netherlands, Italy and Spain during June 2012.

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.

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

Embedded Video Available

Embedded Video Available: http://www2.marketwire.com/mw/frame_mw?attachid=2176085

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

Contact Info
Samuel Hall
Oracle
+44 (0)11 8924 6332
Email Contact

Ross Lambert
CMG
+44 (0)20 7067 0289
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.

@ThingsExpo Stories
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, will discuss how data centers of the future will be managed, how th...
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
SYS-CON Events announced today that Mobile Create USA will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Mobile Create USA Inc. is an MVNO-based business model that uses portable communication devices and cellular-based infrastructure in the development, sales, operation and mobile communications systems incorporating GPS capabi...
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
SYS-CON Events announced today that Keisoku Research Consultant Co. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Keisoku Research Consultant, Co. offers research and consulting in a wide range of civil engineering-related fields from information construction to preservation of cultural properties. For more information, vi...
SYS-CON Events announced today that Interface Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Interface Corporation is a company developing, manufacturing and marketing high quality and wide variety of industrial computers and interface modules such as PCIs and PCI express. For more information, visit http://www.i...
SYS-CON Events announced today that Fusic will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Fusic Co. provides mocks as virtual IoT devices. You can customize mocks, and get any amount of data at any time in your test. For more information, visit https://fusic.co.jp/english/.
SYS-CON Events announced today that TMC has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo and Big Data at Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Global buyers rely on TMC’s content-driven marketplaces to make purchase decisions and navigate markets. Learn how we can help you reach your marketing goals.
SYS-CON Events announced today that Enroute Lab will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enroute Lab is an industrial design, research and development company of unmanned robotic vehicle system. For more information, please visit http://elab.co.jp/.
There is huge complexity in implementing a successful digital business that requires efficient on-premise and cloud back-end infrastructure, IT and Internet of Things (IoT) data, analytics, Machine Learning, Artificial Intelligence (AI) and Digital Applications. In the data center alone, there are physical and virtual infrastructures, multiple operating systems, multiple applications and new and emerging business and technological paradigms such as cloud computing and XaaS. And then there are pe...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Daiya Industry specializes in orthotic support systems and assistive devices with pneumatic artificial muscles in order to contribute to an extended healthy life expectancy. For more information, please visit https://www.daiyak...
Real IoT production deployments running at scale are collecting sensor data from hundreds / thousands / millions of devices. The goal is to take business-critical actions on the real-time data and find insights from stored datasets. In his session at @ThingsExpo, John Walicki, Watson IoT Developer Advocate at IBM Cloud, will provide a fast-paced developer journey that follows the IoT sensor data from generation, to edge gateway, to edge analytics, to encryption, to the IBM Bluemix cloud, to Wa...
In his session at @ThingsExpo, Greg Gorman is the Director, IoT Developer Ecosystem, Watson IoT, will provide a short tutorial on Node-RED, a Node.js-based programming tool for wiring together hardware devices, APIs and online services in new and interesting ways. It provides a browser-based editor that makes it easy to wire together flows using a wide range of nodes in the palette that can be deployed to its runtime in a single-click. There is a large library of contributed nodes that help so...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
SYS-CON Events announced today that App2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, will introduce two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a mu...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...