HomeMost PopularInvestingOracle Integrates Mitto for WhatsApp Sales & Marketing Innovations

Oracle Integrates Mitto for WhatsApp Sales & Marketing Innovations

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Oracle Corporation (ORCL) has partnered with Mitto to offer a seamless integration for its Responsys users to connect with Meta Platforms’ WhatsApp Business through Oracle Marketplace. This collaboration allows brands to leverage the robust WhatsApp Business solutions provided by Mitto to engage with over two billion customers across 190 countries.

Mitto’s WhatsApp Business solutions, combined with their advanced artificial intelligence (AI)-driven routing system, enable businesses to expand their global reach. With dynamic and interactive messages of up to 1,000 characters, enterprises can deliver personalized and encrypted conversations to enhance customer trust and satisfaction.

WhatsApp messages have impressive statistics, with nearly 98% open rates, 60% click-through rates, and 80% of messages read within the first five minutes. By adopting Mitto’s integration with Oracle Responsys, businesses can incorporate WhatsApp into their omnichannel marketing strategies, utilizing a unified and user-friendly platform.

Why is Oracle’s Integration with Mitto Beneficial?

The integration of Mitto’s WhatsApp Business solutions with Oracle Responsys offers several benefits to marketers and businesses:

  • Improved Customer Engagement: With WhatsApp’s wide user base and high open rates, businesses can strengthen their customer relationships and achieve a better return on investment.
  • Personalized Campaigns: Oracle’s intelligent cross-channel solution empowers marketers to create customized campaigns tailored to individual customer preferences, challenges, and interests.
  • Global Reach: With presence in 190 countries, WhatsApp enables businesses to engage with customers worldwide, expanding their market reach and potentially driving revenue growth.
  • Secure Communication: End-to-end encryption ensures the security and confidentiality of customer information, enhancing trust and loyalty.

The Impact on Oracle’s Financials

Oracle Corporation’s fiscal 2024 cloud services and license revenues are estimated to reach $44.65 billion, reflecting a year-over-year growth rate of 26.48%. The company’s earnings are projected to increase by 8.01% to $5.53 per share. The integration of Mitto’s WhatsApp Business solutions is expected to contribute to these positive financial outcomes, boosting Oracle’s cloud service and license revenues in the coming quarters.

Oracle Corporation Price and Consensus

Source: Zacks

Oracle’s Focus on Artificial Intelligence (AI)

Oracle is actively pursuing advancements in AI technology to enhance its suite of applications. Through a partnership with Cohere, a Canadian AI software company, Oracle aims to integrate generative AI features into its offerings. This collaboration positions Oracle as a competitor to industry giants like Meta, Alphabet, and Amazon in the race to invest in AI integration.

While each tech giant has its unique AI focus, Oracle’s primary objective is to harness AI within its cloud infrastructure tools. With AI playing a crucial role in the future of various sectors, Oracle’s investment in AI technology is expected to contribute to the company’s growth and competitiveness in the market.

Oracle’s Market Position

Despite being a late entrant in the AI market, Oracle Corporation has exhibited positive market performance. Shares of Oracle have gained 29.9% year-to-date, slightly lower than the 31.4% rise of the broader Computer and Technology sector. This growth reflects investor confidence in Oracle’s strategic initiatives and potential for future success in the AI market.

As of now, Oracle holds a Zacks Rank #3 (Hold) in the stock market. For the latest updates on top-performing stocks, refer to Zacks Investment Research.

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official position of Nasdaq, Inc.

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