Summary

In this chapter, we have covered topics describing the differences between CRM and CX. We have explained why companies need to adopt a CX implementation approach, and we have described a CX portfolio.

The sunset of current technological and social CRM developments shows that it is high time for companies to have systems that are able to translate the benefits of products/services into a language that is comprehensible to users, and to adapt the way they present their products/services to users.

There are four essential principles of customer experience:

• Interaction must be in both directions customer-company and company-customer, and the loop must be closed.
• The customer must be engaged in every step of communication.
• The company has to be able to cater to the customer's needs and wants.
• The customer must be able to choose. This shows that the company values them and tailors the experience specially for them. The selection process must be easy and transparent for customers to understand and use.

That is customer experience in a nutshell.

In the next chapter, we will see how it can be implemented in the real world using Oracle's CX offering. We will also discuss best practices and prerequisites.