1. Oracle conducted research 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 in the UK, Germany, France, Sweden, the
Netherlands, Italy and Spain during June 2012. And they found that:
81% of Shoppers Willing to Pay More for Better Customer Experience.Oracle
Research ShowsCustomer Experience Provides Strategic Driver for Business
Growth
Highlights are given below
Who says price is everything? A 5% increase in price was seen and each percent
of price can mean uptoa 11% increase in profits. This will make you rethink your
Strategy. If you need help with Creating Value, Customer Strategy and Experience,
do contact us.
Gautam Mahajan
President-Customer Value Foundation
Mob: +91 9810060368
Email: mahajan.g@customervaluefoundation.com
For Free CVF Membership Click Here
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.
 For full research findings please go to: http://bit.ly/UwmB3j
Research Highlights

2.  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:
o 40% - Improvement in the overall customer experience
o 35% - Ensuring questions can be asked easily and information
accessed before making a purchase
o 32% - Adopting an easy return policy
o 26% - Improving the overall website usability and search functionality
o 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

3. 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."
Contact Customer Value Foundation for help
For Free CVF Membership Click Here
email: mahajan.g@customervaluefoundation.com
website: http://customervaluefoundation.com