Oracle Study: Businesses in India can lose up to 18% revenues from the lack of a robust customer experience strategy

20th May 2013 | By Mouseworld Now Correspondent |

New Delhi, India, May 20, 2013: Oracle recently announced the results of its “Global Insights on Succeeding in the Customer Experience Era” report with the primary finding that India-based enterprises can lose up to 18% while businesses worldwide can lose up to 20% revenues from the lack of a robust customer experience (CX) strategy. The research report also reveals that 93% executives globally believe improving customer experience is one of their organization’s top three priorities in the next two years, and 91% wish to be considered a customer experience leader in their industry.

The research assesses the financial impact of not keeping pace with rapidly evolving customer expectations. It also details the challenges that businesses face in delivering great customer experiences, the types of programs that are most effective and priority investment areas to improve the overall experience. The report surveyed 1,342 senior-level executives from 18 countries in North America, Latin America, Europe and Asia Pacific to asses:

  •  The financial impact of customer experience.
  • The challenges businesses face delivering great customer experiences.
  • The priorities for the next 12 months
  • Where businesses are investing to improve the customer experience.

93% executives globally believe improving customer experience is one of their organization’s top three priorities in the next two years, and 91% wish to be considered a customer experience leader in their industry.

Atul Tuli, Sales Director – Fusion CRM, Oracle ASEAN, said,“The report’s findings endorse the criticality of delivering the promised consumer experience every time, all the time, failing which customers will readily switch to rivals. Organizations around the globe, and particularly in India, are missing significant revenue opportunities by not differentiating themselves across all channels, touch points and interactions to nurture customers and build loyal relationships. For businesses to succeed they must drive towards a 360 degree view of customer interactions; invest in open and integrated technology; and leverage analytics to drive decision making and personalized customer communication. This is the key to winning new customers, as well as to retaining them for the long-haul.

 

© Mouseworld Now News Service

 

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