Sunday, August 25, 2013

Customer Experience (CX) - An Emerging Area of Importance

Is Customer Experience (CX) a new buzz word and simply CRM (Customer Relationship Management) redefined? Customer experience (CX) is the sum of all experiences a customer has with a supplier of goods and/or services, over the life tme of the customer. CX is not just about the fiscal transaction that takes place between the customer and the company, rather the before and after experience as well. It defines whether a customer is not just an "high-volume order placer" rather an advocate for the product / service. For instance. due to my good Customer Experience with say Linkedin, I am not just a high volume user of the system but also a stronger advocate.

Other variations of the definition include "A customer experience is an interaction between an organization and a customer as perceived through a customer’s conscious and subconscious mind. It is a blend of an organization’s rational performance, the senses stimulated and the emotions evoked and intuitively measured against customer expectations across all moments of contact.

My first real exposure to Customer Experience as a focus area for Oracle was in June 2012, in an event organized by Oracle where Mark Hurd, Judy Sims and a few others from Oracle were present. My own "customer experience" in this Manhattan, New York event was superlative. Thereafter, I saw the CX track at Oracle Openworld in 2012...as I keep my ears and eyes open to the CS space, I learn more about it every day. At Collaborate, there was a small CX event jointly organized by IBM and Oracle. The other day I saw the formal announcement of the CX event at OOW this year.

So what is driving the Oracle's focus in this area?  In nov 2010, Oracle announced that they will acquir ATG...   ATG was touted as a Web commerce solution that powers the world's best brands, and delivers a consistent, personalized cross-channel customer experience.It offers a complete commerce software platform that enables to deliver a personalized customer buying experience across all customer touch points, including the web, contact center, mobile devices, social media, physical stores, and more. This CX event at OOW brings the CMO's of the large organizations under one roof and they discuss how they try to enhance their customers experience. In these sessions, they take a step above the technical details.. before focusing on the business problem and the high level solution.

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