Philips transforms lead capturing with Oracle Eloqua Marketing Automation
The Dutch health technology company adopts Oracle Eloqua to provide customers with greater control and visibility throughout the lead lifecycle.
“We’ve been very impressed at how quickly our lead management capability has delivered results with Oracle Eloqua. After only 10 months, we generated a minimum of a 30% increase in our MQL to Opportunity rate—not to mention the wider business benefits that come from having real control and visibility of the end-to-end leads process.”
Business challenges
From lightbulbs and television sets to advanced medical devices and healthcare informatics, Philips has been at the forefront of technology innovation for over 130 years. Founded in the Netherlands in 1891, Philips has evolved into one of the largest healthtech companies in the world, employing more than 100,000 people across 60 countries.
Tasked with managing thousands of customer touchpoints across multiple channels, the company recognized the role that marketing technologies could play in bringing together people and data across global markets to improve customer engagement and lead management. With that mindset, Philips set out on a digital transformation journey that aimed to remodel its B2B lead capturing experience and capabilities on a global scale.
The company needed a fully integrated and consistent lead management process for greater control and visibility throughout the lead lifecycle. Philips also wanted to streamline its lead capture process. The company’s marketing team discovered that not only did the company push 85% of completed forms into the sales funnel regardless of quality, but its existing system also required people to fill in 17-plus fields. Philips required an improved process that would be more efficient and user friendly.
Oracle looked for improvement in areas that were platform-agnostic. They took into consideration our whole ecosystem while seeking out the best solution for us.
Why Philips chose Oracle
After evaluating systems from various technology providers, Philips selected Oracle Eloqua Marketing Automation. Philips trusted Oracle as a technology partner and was confident in Oracle’s ability to support Philips’ digital transformation efforts across domains.
Results
After deciding on Oracle Eloqua Marketing Automation, Philips ran a pilot of the system in three markets during one quarter to gather customer feedback and data. The approach was based on a quantitative A/B testing environment and qualitative research consisting of a panel of healthcare professionals.
With Oracle Eloqua, part of the Oracle Advertising and Customer Experience suite of applications, Philips produced more quality leads and the number of errors declined. The Philips Health Systems team decided to deploy the new lead capturing experience globally. As of now, the new lead capturing forms experience has been deployed in 82 countries and on more than 100,000 web pages.
In Philips’ three largest markets, the increase in form submission quality was a minimum of 80% while the MQL to Opportunity rate rose by at least 30%, even reaching 60% in one or more cases. In the new experience, customers can choose their own need to reach out to Philips, and subsequently, receive a personalized lead form experience.
The company’s marketing teams are now more enabled to nurture contacts via newsletter, re-engagement, and event campaigns. Furthermore, the sales teams can immediately build trusting relationships with high-quality and relevant leads. Most critically, customer centricity has led to better connection with contacts and improvements across key processes and metrics.