Wednesday, September 30, 2020

Know Your Customer in Uncertain Times and Make Interactions Count with Oracle Unity

The world faces unprecedented uncertainty, but one thing for sure is that we have a greater dependency on technology. The pace of online growth brought on by the pandemic has accelerated us into the digital future.

Differentiating online is more important than ever and brands must focus on customer-centric priorities. Even with the economy and consumer behavior changing so constantly—and so rapidly - brands are expected to be relevant, with timely interactions.

To help, Oracle Unity now features Oracle Infinity. With Oracle Infinity, Oracle Unity can now apply intelligence to real-time digital behaviors to optimize a customer’s in-flight digital journey. This should result in improved, more personalized, and relevant customer interactions, in the moments where it counts.

Resilience comes in the form of real-time customer experience

Online consumers today expect helpful and relevant content, personalized recommendations, and tailored and optimized experiences that are consistent across websites, apps, social media and the contact center.  Moreover, they expect everything to be real-time. After all, how is the experience relevant if the data supporting it isn’t real-time?

With COVID-19 still impacting everyday life, it’s fair to assume that in-home activities will continue drive consumption, and convenience will continue to be a big driver of loyalty. We can also expect uncertainty, with regulations pertaining to travel often changing from country to country and business regulations sometimes changing from region to region. This has had a large impact on sales, on inventory, on supply chains, on marketing campaigns and business overall.

Therefore, sales and marketing leaders must realize that resilience and agility are more important than ever and that they can’t afford to waste time on developing plans that aren’t meaningful when the next disruption happens.

How can deep personalization be delivered when customer needs and expectations are unpredictable and changing constantly? This is where real-time data comes in. The ability to predict a customer’s next move based on their real-time in-session data is incredibly valuable. It means their intent can be interpreted and brands can react immediately with relevant interactions that will enhance their experience and forge connections, regardless of anything else that’s going on.

But real-time interactions such as these can only be effective with high-quality data. Full-streaming data needs to be collected from all sources, not just the data points that are collected based on set triggers. Using subsets of data this way will only ensure that key trends are missed. The more comprehensive the data collection across multiple touchpoints and sources—browsing and search history, click stream data, social media interactions, and so on—the more performant the engagement strategy and technology will be.

How is Oracle solving these problems for marketers?

Now powered by Oracle Infinity, Oracle Unity can help to ensure customer experience and personalization expectations are met in real-time by:

  • Collecting streaming behavioral data to action in real-time

  • Determining the probability that a desired behavior will happen within the next five clicks

  • Automating optimal customer recommendations and other next-best actions

Such predictions can be streamed to digital marketing applications across any channel within milliseconds enabling businesses to optimize that specific individual’s digital journey in real-time. The results include increased online conversion rates, enhanced digital experiences, and improved business outcomes. 

Meeting customer needs in the moment, reacting in real-time at scale

What does it take to respond to customer triggers at the very moment of value? True real-time. Oracle Infinity collects all individual level behavioral data in the click stream—in real-time—across all digital channels. The data is accurate and complete.

Oracle Unity can then stitch the data together with non-behavioral data, such as transaction history, loyalty program participation, service logs and demographic data, to create a far richer picture of a customer that is updated in real-time. Data is combined on the fly at an incredible speed, handling billions of events per second with sub 100 millisecond latency, and unified in a single customer profile with a single identifier.

With this real-time insight and intelligence, you can know each individual’s real intent, interest and propensity to buy, and then act on their signals to dramatically improve marketing performance.

Making it relevant

Reacting in real time is wasted if the interaction isn’t relevant. Knowing the customer’s click stream data means brands can make offers or recommendations that are relevant and personalized, rather than margin-eroding. For example, instead of offering a discount voucher to all customers including those who are already likely to transact, route discounts towards other customer segments, such as those who purchase complementary products, or those who are in the near vicinity.

Using Oracle Unity with Oracle’s marketing orchestration platform Responsys, you can continue the conversation with the customer about relevant products over email by making recommendations based on each customer's needs and interests. The same recommendations can be shown on email, on landing pages and on product listing pages for consistency.

Other ways to re-engage unresponsive email contacts, or cart abandoners to come back and take action could be through targeted messaging across paid advertising channels or within loyalty programs.

Removing the guesswork

Opportunity cards takes the guess work out of the “next best action”. This allow marketers to capitalize on common use cases with minimal configuration. For example, automating a response to an abandoned cart such as a targeted advert offering extra loyalty points on hotel bookings within the next 24 hours.

Predictive modeling also estimates the individual customer’s probability to take a particular action within a certain number of steps. Brands can therefore guide customers through a specific customer journey with a high likelihood of conversion or other type of desired engagement.

Oracle Unity, now with real-time digital intelligence and behavioral personalization powered by Infinity, helps brands make it count in this new digital world.


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