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Oracle Adds Social App to its Toolbox
Oracle recently announced that it is acquiring Vitrue, a leading cloud-based social marketing and engagement platform that enables marketers to centrally create, publish, moderate, manage, measure and report on their social marketing campaigns.
Oracle recently announced that it is acquiring Vitrue, a leading cloud-based social marketing and engagement platform that enables marketers to centrally create, publish, moderate, manage, measure and report on their social marketing campaigns. The transaction is expected to close in the summer of 2012. TIA uses Oracle technologies as a strategic framework for the TIA Solution.
This move by Oracle is very much in line with TIA’s recent 2020 Vision which believes that there are new rules of customer engagement and a shift in demographics. These outlooks point the way for more online and social engagement with the younger generation who have an entirely new way of interacting with companies.
The online social revolution is causing a lot of opportunities and challenges to insurance companies as they figure out how to best engage with online customers. As this area develops, it will become increasingly important for insurers to link their social engagement into their IT solution in order to monitor successful campaigns and use it as a possible sales channel.
Important take-outs from the Press Release:
“The proliferation of social media has changed the way that organizations and consumers interact. Consumers want to have anytime access to information, reviews and recommendations online and through their mobile devices from a growing number of social networks. Marketers understand that social media is a part of building their brand, however, they now want to develop social strategies that can help them build more meaningful customer engagements across multiple social media sites, centrally manage campaigns to help drive revenue and demonstrate a return on investment. Social media strategies must be integrated with broader marketing initiatives, enable social sales and commerce, and enhance customer service.
“Vitrue's social marketing platform helps organizations enhance their social marketing efforts to the next level of social engagement by giving brands the ability to scale across multiple social networks, target messages from global to local, create unique and consistent brand experiences, and publish content that engages fans and drives leads. Vitrue simplifies management across multiple publishers and enables real time responsiveness with embedded workflows and analytics.
“The combination of Vitrue with Oracle's leading social sales, social service, and analytics and social data management capabilities is expected to create the most advanced and comprehensive social relationship platform. Together, Oracle and Vitrue plan to enable a unified social experience across customer interactions, resulting in meaningful customer engagements with consistent brand experiences across all channels and media; improved return on investment for social sales and marketing campaigns across paid, owned and social media; and enhanced customer service through real-time responsiveness and high touch engagement.”
TIA will continue to maintain focus on insurance-relevant features produced by Oracle and is always interested in partnerships with companies producing best-of-breed add on tools. TIA looks forward to evaluating Oracles Social App once it is ready for release under the Oracle banner.