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Harnessing the Power of Social Media for a Better CRM Experience
November 8, 2011
Better CRM Experience
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Today’s Presenters
John Annunziato II A senior associate in our Blue Bell office John hasJohn Annunziato IISenior Associate215.641.8600John.Annunziato@mcgladrey.com
A senior associate in our Blue Bell office, John has more than 3 years of experience. He is a certified Microsoft Dynamics CRM and Scribe technician and is knowledgeable with Javascript and SQL Programming
Donato DiorioF d d CEO
Donato is an entrepreneur, thought leader and fFounder and CEO
Broadlook Technologies877.977.8080 x246 paul@broadlook.com
educator focused on best practices in internet research and data quality. Donato is the CEO and Founder of Broadlook which serves thousands of clients worldwide, including Fortune 100 companies, with applications to aid in sales, marketing, CRM pp , g,data quality, recruiting, corporate sourcing and business intelligence.
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Harnessing the power of Social Mediab CRM i
Harnessing the power of Social Mediab CRM ito create a better CRM experienceto create a better CRM experience
#McGSocialCRM
The Evolution of Sales DesireThe Evolution of Sales Desire
•I want...More data(lists)•I want...More data(lists)
•I want... Better selection(databases)
I t M t t•I want... Better selection(databases)
I t M t t•I want... More contacts per company(zoom)
•I want... Fresher contacts(Data.com by SFDC)
•I want... More contacts per company(zoom)
•I want... Fresher contacts(Data.com by SFDC)y
•I want... More information(InsideView)
I t M k l d
y
•I want... More information(InsideView)
I t M k l d•I want... More knowledge(LinkedIn)
•I want... More process (crm)
•I want... More knowledge(LinkedIn)
•I want... More process (crm)p ( )
•I want... Sustainable processp ( )
•I want... Sustainable process
Data Information Knowledge Process
CRM Data Process: General state of evolution
Stone Knives and Bear Skins
The Fully Powered CRM
Data Q lit
DataPQuality Process
Competitive CRMCompetitiveAdvantage
CRMProcess
The Four Zones: Where do you fall?The Four Zones: Where do you fall?
DataWithout a scalable CRM process you are limited to
Without a competitive advantage, you continually face
Qualityprocess you are limited to small scale success.
continually face competitors using the same data.
2. small scale2. small scale 3. competitiveenvironment3. competitiveenvironment
4. scalable4. scalable
successsuccess environmentenvironmentWithout data quality, success is random.
CRM CompetitivebrilliancebrillianceSometimes you
connect at the right time and succeed. P d t lit 1.random1.random
ProcessAdvantagePoor data quality invariably forces quantitative selling vs. qualitative.
successsuccess
vs. qualitative.
22 Factors: The Fully powered CRM22 Factors: The Fully powered CRM
•F h•F h
Data Quality
CompetitiveAdvantage
Data Process
CRMProcess
•Targeted •CRM Ready •Transparent•Fresh •Accuracy•Fresh •Accuracy
•Targeted•CustomC l
•CRM Ready
•CRM Mashed
CRM S d
•Transparent•ActionableS l•Multi‐venue
•Built fast•Multi‐venue
•Built fast•Complete
•Exclusive•CRM Scored
•Social Mash
•Seamless
•Measured
•Normalized
•Scored•Normalized
•Scored•Event Triggers •Sustainable
•Verified•Verified
Fresh:Fresh: The base of data decayThe base of data decayCompetitiveAdvantage
Data CRM
Data Quality
Process Process
Th b f d t d i ti d t l t j b tt itiTh b f d t d i ti d t l t j b tt itiThe base of data decay is tied strongly to job attrition.The base of data decay is tied strongly to job attrition.
Fresh: Base decay by yearFresh: Base decay by yearCompetitiveAdvantage
Data QualityData CRM
Does not account for:Does not account for:
Process Process
Change in title, promotionChange in title, promotion
Does not account for:Does not account for:
Change in working locationChange of phone numberChange in working locationChange of phone numberg pAdd mobile phone numberChange of department
g pAdd mobile phone numberChange of departmentChange of departmentChange of area codeChange of email format
Change of departmentChange of area codeChange of email formatChange of email formatMerger or acquisitionChange of email formatMerger or acquisition
#McGSocialCRM
POLLPOLL
Fresh: Fresh: Decay on all factorsDecay on all factorsCompetitiveAdvantage
Data QualityData CRM
Process Process
Accuracy: Spiral Down...Accuracy: Spiral Down...CompetitiveAdvantage
Data QualityData CRM
What is the really lost without accuracy?What is the really lost without accuracy?Process Process
Credibility ‐ attempting to contact the wrong h l ft th
Credibility ‐ attempting to contact the wrong h l ft thperson or someone who left months ago
Confidence ‐ The tone of the outreach
person or someone who left months ago
Confidence ‐ The tone of the outreachConfidence The tone of the outreach changes. “who is in charge of? “ vs. “Connect me with Dan”
Confidence The tone of the outreach changes. “who is in charge of? “ vs. “Connect me with Dan”me with Dan
Time ‐ It takes longer to make a good
me with Dan
Time ‐ It takes longer to make a good connection
Quality You spiral into a quantitative method
connection
Quality You spiral into a quantitative methodQuality ‐ You spiral into a quantitative methodQuality ‐ You spiral into a quantitative method
MultiMulti‐‐venuevenueCompetitiveAdvantage
Data QualityData CRM
Name title and phone are not enoughName title and phone are not enough
Process Process
Name, title and phone are not enough. Superior CRM data includes multiple contact
t id tif t tt ti t d
Name, title and phone are not enough. Superior CRM data includes multiple contact
t id tif t tt ti t dvenues to identify, get attention, connect and build rapport.venues to identify, get attention, connect and build rapport.
Basics: name, title, email, phoneBasics: name, title, email, phone
Social: LinkedIn, Facebook, Blogs, TwitterSocial: LinkedIn, Facebook, Blogs, Twitter
Rapport: Biography, Peer influencersRapport: Biography, Peer influencers
Recency: Relevant industry eventsRecency: Relevant industry events
MultiMulti‐‐venue venue ‐‐ exampleexampleCompetitiveAdvantage
Data QualityData CRM
Process Process
Built fastBuilt fastCompetitiveAdvantage
Data QualityData CRM
• How quick was the list produced?• How quick was the list produced?
Process Process
q pq p•This is the reality of data aggregators•A k th H ld i ld t d t ?•This is the reality of data aggregators•A k th H ld i ld t d t ?•Ask them: How old is your oldest data?•Ask them: How old is your oldest data?
59.5%59.5%(4000 records, built over 8 quarters, 59.5% accurate.)
#McGSocialCRM
POLLPOLL
NormalizedNormalizedCompetitiveAdvantage
Data QualityData CRM
Stage settingStage setting
Process Process
• Over 30% of CRM data includes duplicates• Periodic De duping is treating a symptom of disease• Over 30% of CRM data includes duplicates• Periodic De duping is treating a symptom of disease
Stage settingStage setting
• Periodic De‐duping is treating a symptom of disease• The solution to prevent dupes is Normalization
l h h l
• Periodic De‐duping is treating a symptom of disease• The solution to prevent dupes is Normalization
l h h l• Normalization cannot happen without a plan• A plan for your data is a Data Plan• Normalization cannot happen without a plan• A plan for your data is a Data Plan• A plan for your CRM is a CRM Data Plan• Enforced Normalization is the cure for duplicates• A plan for your CRM is a CRM Data Plan• Enforced Normalization is the cure for duplicatespp
Normalized Normalized ‐‐ The Data PlanThe Data PlanCompetitiveAdvantage
Data QualityData CRM
Rule Setting Like this not this
Process Process
‐Company Names
Case Convert to proper Broadlook Technologies broadlook technologies
Commas remove Broadlook Technologies Inc Broadlook Technologies, Incg g ,
Initials Space only R A Smith RA Smith
Leading “The” Move to end Container Company, The The Container Company
O di l Abb i 1 M di l Di Fi M di l DiOrdinals Abbreviate 1st Medical Directors First Medical Directors
Periods Remove R A Smith R.A. Smith
Phrase: “and company” Convert to “& Co” R A Smith & Co R A Smith & Company
• Data Plans are easy..• Data Plans are easy..Phrase: “and” Convert to “&” M & M Insurance M and M Insurance
• Data Plans avoid duplicates..
• Data Plans save $
• Data Plans avoid duplicates..
• Data Plans save $
• Do you have a Data Plan?• Do you have a Data Plan?
#McGSocialCRM
POLLPOLL
Normalized: Real CRM DataNormalized: Real CRM DataCompetitiveAdvantage
Data QualityData CRM
Process Process
StandardStandardStandardStandardStandardStandardCRMCRM
StandardStandardCRMCRMCRMCRMreportreportCRMCRMreportreportpppp
#McGSocialCRM
POLLPOLL
NormalizedNormalizedCompetitiveAdvantage
Data QualityData CRM
Process Process
How many comp in title, promotionHow many comp in title, promotionChange in working locationChange of phone numberChange in working locationChange of phone numberAdd mobile phone numberChange of departmentAdd mobile phone numberChange of department
Normalized: Only 3 contactsNormalized: Only 3 contactsCompetitiveAdvantage
Data QualityData CRM
Process Process
VerifiedVerifiedCompetitiveAdvantage
Data QualityData CRM
Call verification is the ultimate step in creating the ultimate Call verification is the ultimate step in creating the ultimate
Process Process
p glist. Given excellent starting data, call verification can be done inexpensively. Verifying is very different than discovery.
p glist. Given excellent starting data, call verification can be done inexpensively. Verifying is very different than discovery.Continuum of call verification. Continuum of call verification.
Exists: Verify the person at a specific extension is there.Exists: Verify the person at a specific extension is there.
Connect: Actually verifying by talking to the target prospect.Connect: Actually verifying by talking to the target prospect.
Full: Talking with a person. Verify data points of name, title, email. (phone is verified by the process of connecting)Full: Talking with a person. Verify data points of name, title, email. (phone is verified by the process of connecting)
Note: Crowd‐sourced data is NOT call verified. Crowd sourcing suffers from the same aliments as most lists not built fast not accurate not normalized andNote: Crowd‐sourced data is NOT call verified. Crowd sourcing suffers from the same aliments as most lists not built fast not accurate not normalized andsame aliments as most lists, not built‐fast, not accurate, not normalized, and not scored.same aliments as most lists, not built‐fast, not accurate, not normalized, and not scored.
Data quality metricsPoints
Factors Max 4 3 2 1Max 3Fresh 4 <30 days <60 days <90 days <180 days
AAccuracy 4 95% 80% + 70% + 60% +
Built fast 4 <14 days <45 days <90 days <180 daysu t ast <14 days <45 days <90 days <180 days
Normalized 4 yes
Scored 2 yes
Verified 2 yesVerified 2 yes
Max total 20
#McGSocialCRM
POLLPOLL
TargetedTargetedData
QualityCompetitiveAdvantage
Data CRM
•SIC code vs self‐description Company‐•SIC code vs self‐description Company‐
Process Process
SIC code vs. self description Companycentric vs. contact centricSIC code vs. self description Companycentric vs. contact centric
•What the company is doing today vs. what •What the company is doing today vs. what it did last yearit did last year
•Market Mapping•Market Mapping
TargetedTargetedData
QualityCompetitiveAdvantage
Data CRM
Targeting cannot be accomplished by googling, using online databases or social networks You cannot rely on keywordsTargeting cannot be accomplished by googling, using online databases or social networks You cannot rely on keywords
Process Process
databases or social networks. You cannot rely on keywords.databases or social networks. You cannot rely on keywords.
Targeting Targeting ““CRM SoftwareCRM Software””Data
QualityCompetitiveAdvantage
Data CRM
By page 5 of google, 4/10 results are CRM software companiesBy page 5 of google, 4/10 results are CRM software companiesProcess Process
4/10 results are CRM companies4/10 results are CRM companies4/10 results are CRM companies4/10 results are CRM companies
TargetedTargetedData
QualityCompetitiveAdvantage
Data CRM
Th i l t t t t tTh i l t t t t t
Process Process
The single most accurate way to target companies is by answering:The single most accurate way to target companies is by answering:
• How does that company describe itself today?h f
• How does that company describe itself today?h f• How do I record that information in my CRM?
• How do I keep that information updated?• How do I record that information in my CRM?• How do I keep that information updated?• How often should I update it?• How do I make this process sustainable?• How often should I update it?• How do I make this process sustainable?pp
CustomCustomData
QualityCompetitiveAdvantage
Data CRMProcess Process
•Every business model has different success requirements
•Every business model has different success requirementsrequirements.
•One business may require email another
requirements.
•One business may require email another•One business may require email, another may not have a need for it.
•One business may require email, another may not have a need for it.
•Get an understanding of what your list •Get an understanding of what your list component success factors are.component success factors are.
CompleteCompleteData
QualityCompetitiveAdvantage
Data CRM
•Bigger pool more results•Bigger pool more results
Process Process
•Bigger pool = more results
•Complete does not equal one point of
•Bigger pool = more results
•Complete does not equal one point of•Complete does not equal one point of contact per company
•Complete does not equal one point of contact per company
•To be considered complete, a list must have •To be considered complete, a list must have as many contacts per company that is necessary for that sectoras many contacts per company that is necessary for that sectornecessary for that sectornecessary for that sector
ExclusiveExclusiveData
QualityCompetitiveAdvantage
Data CRMProcess Process
•Is your list online? •Is your list online?
•Who else has your list?•Who else has your list?
•How many times has your list been sold?•How many times has your list been sold?
•Is your list.... everyone’s list?•Is your list.... everyone’s list?
Competitive Advantage metrics
PointsPointsFactors Max 6 5 4 3 2 1Targeted 6 target by self hand built specialty
keywords sic codeTargeted 6 g ydescription hand built p y
databasekeywords sic code
Custom 6 built on‐demand mashed from many sources
pulled from larger samplep
Complete 4 95% + 85% + 65% + 55% +
M l i h 6Multi‐touch 6 3 points of contact 2 points of contact 1 point of contact
Multi‐venue 2 4 venues 2 venues4 venues 2 venues
Exclusive 6 no competitors limited or membership access
anyone can buy access
Max total 30
#McGSocialCRM
POLLPOLL
Data Quality & Competitive Advantage
30Quadrant Key gege InfluenceCRM DataQuadrant Key
antag
antag
Qualitative /
newnewCRMCRM
Adva
AdvaEvent driven leadlead
QualitativeCRM+CRM+90 days90 days
15
itive
itive
Quantitative /
QCyclic
90 days90 days
CRM+CRM+180 days180 days
mpe
timpe
ti
Quantitative/
Quantitative /Cyclic
180 days180 days
CRM+ CRM+ 360 days360 days
Com
ComQuantitative/
commodityCold Call Warm call
360 days360 days
0 10 20
Data QualityData Quality
CRM ReadyCRM ReadyCompetitiveAdvantage
DataQuality
Data CRMProcess Process
•Incoming data adheres to your Data Plan•Incoming data adheres to your Data Plan
•Your CRM is cleaned, de‐duped, and f D Pl
•Your CRM is cleaned, de‐duped, and f D Plconforms to your Data Plan
•Y CRM h d d l i t t h
conforms to your Data Plan
•Y CRM h d d l i t t h•Your CRM has de‐dupe logic to catch incoming duplicates
•Your CRM has de‐dupe logic to catch incoming duplicatesg pg p
CRM MashCRM MashCompetitiveAdvantage
DataQuality
Data CRM
Are incoming contacts mashed with existing d i ?
Are incoming contacts mashed with existing d i ?
Process Process
records in you CRM?
Single Point of Truth Interface: CRM SPOT®
records in you CRM?
Single Point of Truth Interface: CRM SPOT®Single Point of Truth Interface: CRM SPOTSingle Point of Truth Interface: CRM SPOT
Incoming dataIncoming data CRM dataCRM dataIncoming dataIncoming data
Shown: Broadlook’s Patent‐Pending SPOT Interface for Microsoft Dynamics CRMShown: Broadlook’s Patent‐Pending SPOT Interface for Microsoft Dynamics CRM
CRM ScoredCRM ScoredCompetitiveAdvantage
DataQuality
Data CRM
Is all contact data scored, based on:Is all contact data scored, based on:Process Process
• Data completeness
• Cross‐references
• CRM Accounts
• Social data
• Data completeness
• Cross‐references
• CRM Accounts
• Social data
• Data age
• CRM Leads
• Bio data
• Social Intuition
• Data age
• CRM Leads
• Bio data
• Social Intuition
• CRM Contacts• CRM Contacts
scorescore
Social MashSocial MashCompetitiveAdvantage
DataQuality
Data CRMProcess Process
Does the new data coming into your CRMDoes the new data coming into your CRMDoes the new data coming into your CRM mash with social networks?Does the new data coming into your CRM mash with social networks?
TransparentTransparentCompetitiveAdvantage
DataQuality
Data CRM
•Where did the data come from•Where did the data come fromProcess Process
•Is each source of the data documented?•Are the sources actionable to review live?•Is each source of the data documented?•Are the sources actionable to review live?Are the sources actionable to review live?Are the sources actionable to review live?
Event TriggersEvent TriggersCompetitiveAdvantage
DataQuality
Data CRMProcess Process
• H i d t di l h l l k• H i d t di l h l l k• Having data display when a sales rep looks up a company is NOT an event trigger
• Having data display when a sales rep looks up a company is NOT an event trigger
• Event triggers should notify the sales rep that something has happened
• Event triggers should notify the sales rep that something has happenedthat something has happened.that something has happened.
Event TriggersEvent TriggersCompetitiveAdvantage
DataQuality
Data CRMProcess Process
ActionableActionableCompetitiveAdvantage
DataQuality
Data CRMProcess Process
•If your new list is in the hands of your CRM administrator researcher or someone else
•If your new list is in the hands of your CRM administrator researcher or someone elseadministrator, researcher or someone else, your new list is aging every day.administrator, researcher or someone else, your new list is aging every day.
•Any newly acquired list needs to moved into •Any newly acquired list needs to moved into y y qyour CRM immediately
•Are your sales reps looking for triggers or
y y qyour CRM immediately
•Are your sales reps looking for triggers or•Are your sales reps looking for triggers or being alerted
•Are your sales reps looking for triggers or being alerted
Seamless CRMSeamless CRMCompetitiveAdvantage
DataQuality
CRMData
•T b ffi i t ll j b i f ti•T b ffi i t ll j b i f ti
ProcessProcess
•To be efficient, all major business functions need to be inside in the CRM.•To be efficient, all major business functions need to be inside in the CRM.
•Data sources that are not seamlessly mashed•Data sources that are not seamlessly mashed•Data sources that are not seamlessly mashed with CRM hampers business execution. •Data sources that are not seamlessly mashed with CRM hampers business execution.
• Beware of islands of technology.• Beware of islands of technology.gygy
Business lives inside the CRMBusiness lives inside the CRM
MeasuredMeasuredCompetitiveAdvantage
DataQuality
CRMDataProcessProcess
• If business processes are not measured, • If business processes are not measured, they cannot be improved or reported on.they cannot be improved or reported on.
• Data... when inaccessible by workflows, cannot be measured
• Data... when inaccessible by workflows, cannot be measuredcannot be measured.cannot be measured.
SustainableSustainableCompetitiveAdvantage
DataQuality
CRMDataProcessProcess
The measures of success for the sustainableThe measures of success for the sustainableThe measures of success for the sustainable process:The measures of success for the sustainable process:
•Refined •Refined •Documented•Repeatable•Documented•RepeatableRepeatable•Culturally Enforced
h l ll f d
Repeatable•Culturally Enforced
h l ll f d•Technologically Enforced•Automated•Technologically Enforced•Automated
How are you getting your leads?30 Sustainable processCRM Data
Quadrant Key gegeQualitative /E d i
CRMCRM BroadlookBroadlook
Quadrant Key
antag
antag
Event driven
Qualitative Adva
Adva
15
Quantitative /
QualitativeCyclic ZoominfoZoominfo InsideInside
ViewViewLinkedINLinkedIN
itive
itive
Quantitative /Cyclic
JigsawJigsawPhonePhoneBookBook HooversHooversm
peti
mpe
ti
0
Quantitative/commodity
Cold Call
BookBook HooversHoovers
Warm callCom
Com
0 10 20
Data QualityData Quality
Next time you buy data...
“I t li t b ilt d d t d“I t li t b ilt d d t d“I want my list built on‐demand, generated based on how companies describe “I want my list built on‐demand, generated based on how companies describe pthemselves. It needs to be 95% inclusive of
k I 3 i f
pthemselves. It needs to be 95% inclusive of
k I 3 i fmy target market. I want 3 points of contact for each company, multiple waysmy target market. I want 3 points of contact for each company, multiple wayscontact for each company, multiple ways like email and social networks to reach out h d li i i id
contact for each company, multiple ways like email and social networks to reach out h d li i i idthem. You must deliver it inside my CRM and you can’t sell this list to anyone else”them. You must deliver it inside my CRM and you can’t sell this list to anyone else”and you can t sell this list to anyone elseand you can t sell this list to anyone else
Questions?
Schedule a meeting with your McGladrey CRM Consultant to learn h t k ti ti b t f !what marketing options are best for you!
John Annunziato IIJohn Annunziato II215.641.8600John.Annunziato@mcgladrey.com
McGladrey’s Broadlook representative:Paul Cielinski877 977 8080 x246877.977.8080 x246 paul@broadlook.com
facebook.com/McGladreyTBS
twitter.com/McGladreyTechytwitter.com/McGladreyCRM