The following is an article from a HostingCon Europe sponsor. Oracle is offering a product workshop at the event on Tuesday, October 11 at 2:00pm.
In a highly fragmented market like web hosting, service providers need to find a way to stand apart from the competition. What do your customers look for when they select a provider?
At Oracle we believe the answer is individualized services. Whether you are looking to offer free trials to some customers, bundling advanced services to other customers, or using innovative non-currency metrics to upsell or cross-sell, an agile monetization platform is key to competitive success.
We are entering “Era I” – the Age of the Individual. Organizations –both B2B and B2C – must be ready and able to turn on a dime and deliver services, content, experiences, and technology to customers however, wherever, and whenever they desire.
Oracle recently surveyed 300 C-level executives to understand the emergence of Era I and how successful organizations are managing this shift. The findings were very instructive. We found that 84% of these executives say their organization has experienced a trend towards customers wanting more individualized experiences, but fewer than 20% grade themselves with an “A” in responding to this trend. They cite an inability to quickly respond to opportunities and changing market conditions as their biggest weakness. In addition to retaining customers, 93% of executives surveyed believe they are leaving money on the table by not successfully offering individualized services. How much? They estimate that offering highly individualized services, products and content would result in an 18% increase in annual revenue. For a $1 billion company, that’s $180 million a year!
But how do you get there? More than 80% of these executives believe there is an important link between cloud-based IT solutions and their organization’s ability to deliver individualized experiences. And 97% believe that investing in IT solutions will improve their ability to offer the customer experiences needed to compete in Era I.
So what does this mean for cloud companies and service providers? It means investing in the right technology tools to quickly launch new offers, discount services based on very individualized parameters, bundle access in ways that make sense for different business needs, and offer the right trials and promotions to the right market segments. It means leveraging sophisticated business intelligence tools to understand how your customers are using your offerings and quickly adapting your products, services and pricing to meet changing market demand. And it means ensuring that your monetization platform enables you to deliver on your promise to provide top-level service and support to your customers.
Oracle is hosting a workshop called “Accelerate Time to Market for Subscription Services with Cloud Billing” at HostingCon on Tuesday, October 11 at 2:00pm.The speaker is Jean Lawrence, Director of Product Marketing. Jean has more than 20 years of experience in IT, marketing and strategy roles for companies involved in delivering monetization solutions.
Please join the workshop and explore ways to differentiate your service offerings through agile monetization, visit Oracle at Booth #208 on the HostingCon show floor, or visit www.oracle.com/goto/cloudbilling to learn more.