CMO's Are Puzzled With Abundant IT Options
With enterprises zeroing in on enhanced customer experience to drive sales, the pressure on Chief Marketing Officers(CMOs) have mounted. The rise of mobility and social media has also escalated complexities for the marketing heads in transforming their business practices to be more centric as well as more nimble and agile as the same time. In a recent interaction with CXO Today, Nitin Singhal, India Business Head for Oracle CX Applications at Oracle India, highlights the latest challenges witnessed by the new age CMOs and the possible solutions to overcome them.
What is the primary concern for CMOs globally at present?
With hundreds, if not thousands of technology choices, it’s no surprise that CMOs are overwhelmed with options, feeling as if they need to be technology experts to be successful marketing leaders today. And indeed, there is some truth to that. But there isn’t enough time in the day for one person to be all things and we are at a tipping point now where customers have outpaced companies in their demands for technology advancement.
The CMO today is accountable for customer experience, from awareness through consideration, research, and evaluation all the way to that first purchase and then right through upsell, cross-sell, renewal, loyalty, evangelism, and advocacy. They are also responsible to deliver consistent, relevant customer experiences throughout the entire customer lifecycle.
CMOs are also keen on understanding and consolidating mobile, social, web, e-mail, display ads, search, and all the touch points. Next, data and analytics are significant in formulating customer experience strategies. Getting visibility into customer lifecycles in real time and providing them relevant, consistent experiences are priority.
What is the value proposition of Oracle’s customer experience solutions?
Customers expect a seamless experience when they interact with the brand on social media, mobile, in-store, through the call center, on your website, and when making a purchase online. Part of the issue is that many companies build their processes around internal organizational silos rather than around the customer.
But many companies are crippled by customer relationship management systems that are so limited in scope and capabilities that they perpetuate those information silos and fail to provide the in-depth customer insight that today’s businesses need.
We Offer a complete and integrated CRM solution that breaks down silos to deliver a seamless customer experience across marketing, sales, commerce, service, social as well as configure price and quote(CPQ). Our partners are also uniquely positioned to deliver exceptional customer experiences, and help companies acquire new customers, retain more customers, and improve efficiencies
How can technology be leveraged to drive sales?
The use of technology to drive sales organisations has been a focus for many sales leaders over the past twenty years. In that time, software vendors have struggled to balance business complexity with speed of implementation and change. Sales leaders have struggled to balance user adoption with the burden of data entry.
Every business talks about focusing on the customer, but few actually deliver. What’s your point of view on that?
This is because digital marketing technology alone cannot tell a compelling story. It lacks engaging dialogue with no connection beyond the transaction. It’s lost in translation because marketers don’t speak code. And it’s confusing to the customer because marketing and IT cannot connect process and data.
Therefore what is required here is a modern marketing technology engineered with enterprise grade data management and proven cloud performance. Exploring the people, processes, and technology together is the key to successfully focusing on the customer and delivering superior customer experiences.
The need is to create a culture of customer obsession by simplifying marketing across all channels to turn casual prospects into passionate advocates. Personalizing the brand narrative for each customer in every chapter of the company’s story to increase engagement and revenue, will result in an effective customer-focused approach.
What progress have CMOs made to overcome challenges?
CMOs today realize that this is an enterprise-wide opportunity to fundamentally transform the business with the customer at the center. Enterprise CMOs have made astonishing progress in realigning and refocusing their organizations. Newer companies with younger leaders that were born in the digital age are inspiring the bigger, older companies to move faster in the race to succeed.
As companies shift their focus and organizational structure to providing a consistent and personalized customer experience, our technology enables them to make that a reality.
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