Oracle just published some commissioned research that gives us insights into both CRM generally and the times we live in.

A study of more than 1,100 people across several generations found the following:

  • Almost half (43 percent) of consumers have blacklisted a brand as the result of a bad experience; more than one-third (34 percent) of consumers said they would never shop with a company again after just one bad experience.
  • Consumers are twice as likely to trust family members (77 percent) and friends (75 percent) than any other source for shopping recommendations. The next most trusted source is colleagues (38 percent).
  • Politicians (2 percent), celebrities (7 percent), a company employee you engage with online (12 percent) and influencers/bloggers (14 percent) are among the least-trusted sources of shopping recommendations. (Ouch!)
  • Consumers from different age groups have very different attitudes toward sharing personal information. Sixty-four percent of Gen Z and Millennial consumers are comfortable sharing personal information to receive better experiences, compared to 50 percent of Gen X and 35 percent of Baby Boomers.

Research like this spawns development, including product development, and messaging when an existing product can be turned toward a newly discovered problem. I’d say this research might do a little of both.

It’s worth noting that this is not the first time Oracle has pursued this angle — partly because it’s a good one, and partly because the company has technologies that help minimize the likelihood of a bad experience. All that’s fine, but perhaps we need to be thinking in another direction at the same time.

One area of white space in the sprawling CRM product set right now is any kind of technology that helps to recover customers who’ve cut the cord, so to speak. It’s entirely possible that each of us will have an experience with a vendor in the next year that produces grounds for divorce but we’ll hold on.

The supply of vendors in most markets is far from huge, and a personal policy of cutting off a vendor for one bad experience or even a string of them might not always be viable.