Features coming to Oracle CX include selling, service, loyalty, and marketing capabilities, the company announced.
Oracle has added a bevy of new features to its Oracle Advertising and Customer Experience (CX) platform, which are designed to "accelerate sales cycles, resolve customer service inquiries faster, and develop engaging loyalty programs that can grow customer lifetime value," the company said in a press release.
Oracle CX is a part of Oracle's Fusion Cloud platform, which offers applications including customer relationship management (CRM), enterprise resource planning (ERP), supply chain management, and others along with its CX product.
The Oracle CX product covers anything to do with customer interaction: Sales, marketing, service, and retention are all components, and if reports from 2020's turbulent market were any indication, customer experience is going to be a key factor in which businesses will be successful in the wake of the COVID-19 pandemic.
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"Customers aren't afraid to walk away after a single bad experience and that reality means organizations have to empower their sales, marketing and customer service teams with the data they need to make every customer interaction matter," said Oracle's advertising and customer experience VP, Rob Tarkoff.
To that end, the new features coming to Oracle CX are all geared toward making the customer experience better for both employees and the people they serve.
Features coming to Oracle CX in this update are centered around B2B customer experience, and fall into three different areas: New selling capabilities, new service capabilities and new loyalty and marketing capabilities.
Oracle sums up the new selling features of Oracle CX as helping "sellers improve efficiency and accelerate sales cycles by providing a more prescriptive sales experience and removing tedious data entry tasks." Those features include:
- A new digital assistant with speech recognition capabilities is being added to Oracle CX, which will let sellers use voice commands to add attachments to accounts, update account records, and talk to the CRM system.
- Streamlined quoting that adds searching, viewing, and managing quotes and their data on a single screen, eliminating the need to toggle between data and the actual quotes.
- A new buying application designed for communication service providers that will produce custom-tailored offers that Oracle said will increase conversion rates and allow customers to buy services via their preferred channels.
- Actionable user interface features, including data-driven recommendations for sellers, smart lists that suggest actions based on past customer interactions, advanced search features for finding actionable client info, and infolets that add tasks to the homepage of seller's CRMs.
There are only a couple of new B2B service features being added, but they could be huge, internally and externally, if they work as Oracle describes:
- Automated digital service agents that can handle large volumes of complex customer issues "driven by artificial intelligence, advanced knowledge management, digital assistant and proactive guidance tools will automate and scale service delivery anytime, anywhere."
- Simplified interfaces for support agents, which are designed to reduce onboarding time, provide holistic views of customer accounts, and make customer interactions feel more like popular consumer apps.
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Loyalty and marketing makes up the last group of new features being added, and aren't specifically B2B in nature. These include:
- Customer data platform loyalty data flows, which add a two-way data flow between Oracle CrowdTwist and Oracle Unity to "enable marketers to build richer data sets and audience segments that support more personalized offers, content and campaigns."
- Loyalty point pooling, which allows customers to combine loyalty points with others in their household, family, or circle of friends.
- Partner integration into loyalty programs.
- Marketers can now add loyalty data from CrowdTwist to further personalize offers in loyalty campaigns.
- AI-powered fatigue analysis, which "predicts the best message subject lines to improve open rates and helps marketers minimize opt-outs and recipient fatigue by providing a holistic view of customer engagements."
- Zoom integration.
More information on these upcoming changes can be found on Oracle's Innovation Showcase page for its CX platform.
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