81% of Shoppers Willing to Pay More for Better Customer

81% of Shoppers Willing to Pay More for Better Customer Experience,
Oracle Research Shows 
Customer Experience Provides Strategic Driver for Business Growth 
12/10/12 --   Oracle (NASDAQ: ORCL) 
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
--  The pan-European research, carried out in June 2012 by independent
    research company Loudhouse, surveyed 1400 online shoppers (50% female,
    50% male) who had made a complaint or enquiry to a customer service
    department in the last 12 months.
--  For full research findings please go to: http://bit.ly/UwmB3j

Research Highlights 

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

Supporting Resources 

--  Oracle Customer Experience
--  Customer Experience Online Forum: Join the Revolution
--  Why Customer Satisfaction is No Longer Good Enough Report
--  Follow @OracleCX on Twitter
--  Connect with Oracle Customer Experience on Facebook

Notes to Editors
 The survey focused 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
by market research company Loudhouse in the UK, Germany, France,
Sweden, the Netherlands, Italy and Spain during June 2012. 
About Oracle
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Contact Info
Samuel Hall
+44 (0)11 8924 6332
Ross Lambert
+44 (0)20 7067 0289
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