Social crm

S

Social CRM By

Angsuman Chakraborty Chief Architect - Relaso Social CRM (Taragana Inc.)

Contents

S  About us

S  Why CRM?

S  Why CRM fails?

Copyright Taragana Inc.

Contents – Social CRM

S  What is Social CRM?

S  The Social Customer

S  CRM to Social CRM

S  Why Social CRM?

S  Case Studies

S  How to evaluate Social CRM products?


About Angsuman Chakraborty

S  18 years of industry experience in architecting, leading & developing enterprise software products for Fortune 500 to Startup companies in USA & India

S  Product & Technical Lead for Extensity Enterprise products like Expense Report, Timesheet & Travel Plan products, products which lead to very successful IPO in 2000

S  Co-Founder Taragana Inc

S  Chief Software Architect at DoubleTwist Inc., Consultant Architect Millipore

S  B.Tech (Hons.) IIT Kharagpur, Sun Certified Java Architect


Taragana Inc

S  Develop Software Products & Services

S  Relaso Social CRM & Customer Support Software

S  Machine Translation Products for Blogs

S  Gaea Times News Media

S  Few Notable clients:

S  Invitrogen Inc., Millipore Inc., Merck Pharmaceuticals (all Fortune 1000)

S  Scripps Research Laboratories, 720 Inc., Jotmate Inc. etc.

S  ABP Group, Keya Seth etc.

S  Worldwide customer base (over 2000)


Why Customer Relationship Management?

S  In Peter F. Drucker’s words, the purpose of business is to create and keep a customer.

S  “The ability to successfully manage customer relationships can be decisive advantage in today’s competitive world.” – Craig Conway, President & CEO, PeopleSoft, Inc.


Why CRM? - Customer

S  Increase customer satisfaction

S  Add new customers

S  Retain and Increase sales from existing customers


Why CRM? - Relationship

S  Relationship with existing customer to S  Retain them as well as cross-sell S  Spur Word-of-mouth campaign of product / service

S  Relationship with new prospects S  Increase conversion S  Spur Word-of-mouth campaign of product / service, effectively

creating an unpaid marketing team

S  Avoid PR disasters before they happen


Why CRM? - Management

S  Tracking

S  Analytics

S  Reporting

S  Automation


Why CRM?

S  Shared Information S  Leverage new prospects S  Cross selling S  Analytics

S  Record all interactions S  Maintain commitments, even with staff churning S  Legal Compliance (SOX, J-SOX, Bill 198 etc.) S  Business Analytics & Reporting


Legal Requirements

S  Key financial processes S  Marketing discretionary spending S  Sales revenue recognition S  Service credits and product returns

S  Audit Trail

S  Monitoring business activities

S  Tracking cost and revenues


Sales

S  Tracking, recording and streamlining sales process

S  Sales forecast

S  Business insights into opportunities, territories

S  Workflow automation


Marketing

S  Tracking & measuring multi-channel campaigns

S  ROI Analysis

S  Lead qualification & lead targeting

S  Drip Marketing

S  Recency – Frequency - Monetary Value Analysis & Automated Actions


Customer Support

S  Increase customer satisfaction by better and standardized service and processes

S  Accept requests by SMS, Email, Phone, Social Media and process them uniformly with timely notifications

S  Track support tickets for analysis and reporting

S  Measure & improve resolution & response times


CRM Failures in 2001-2009

Year Organization Failure Rate

2001 Gartner Group 50%

2002 Butler Group 70%

2002 Selling Power, CSO Forum

69.3%

2007 Economist Intelligence Unit

56%


CRM Challenges

S  Management S  Vision & Strategy S  Support S  Change Agent

S  End User Adoption

S  Total Cost of Ownership

S  Time to implement


CRM Challenges: End User Adoption

S  A well cited study by AMR Research found that even among top CRM vendors, 47 percent of companies reported serious challenges with end-user adoption that often put projects in jeopardy.

S  Analysis shows that CRM implementations that do not make daily tasks more productive for individuals will not see corporate benefits.

Source: http://www.crmlandmark.com/survey_crmfailures.htm


What is Social CRM?

“CRM is a philosophy & a business strategy, supported by a technology platform, business rules, workflow, processes & social characteristics, designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted & transparent business environment. It’s the company’s response to the customer’s ownership of the conversation.”

Paul Greenberg, a leader in Social CRM & Author of CRM at the Speed of Light


What is Social CRM?

S  Social CRM is a business strategy & mindset

S  Social CRM is still CRM but evolved to account for new generation of enlightened customers

S  Supported by Technology & Processes

S  Component of Social or Collaborative Business


The Social Customer

S  Consumes information and learns about breaking news through sites like Twitter and Facebook

S  Learns about new products through social channels and networks

S  Discusses about products and services on web and Social Media

S  Desires a conversation with the brand rather than one-way ad messages. Wants brands to listen, engage and respond quickly

S  Expects brands to be active in the same social media site that he participates in


The Social Customer


CRM to Social CRM

Mindset Processes Technology Channels Landscape

CRM - Customer facing employee - Centralized Innovation Team

- Customer life cycle - Process centric - CRM Processes

Automating & supporting business processes

Single view of customer based on interactions history

- Individual relationship - Targeted messages generate value

Social CRM

- All employees engage - Customers in the center of innovation cycle

- Company life cycle - Conversation centric - Value Chain

Community creation both internal & externally

Multiple channels complicate single view of customer -do-

- Complex relationship network - Conversation generates value

Modified from : Deloitte Development LLC Slide Copyright Taragana Inc.

CRM to Social CRM

CRM SOCIAL CRM

WHO Assigned departments Everyone

WHAT Company defined process

Customer defined process

WHEN Business hours Customers defined hours

WHERE Defined channels Customer-driven dynamic channels

WHY Transaction Interaction

HOW Inside out Outside in

Modified from: Chess Media Group Slide Copyright Taragana Inc.

Why Social ? 18 Use Cases

Marketing Sales Service & Support Innovation Collaboration Customer

Experience

Social Marketing

Insights Social Sales

Insights Social

Support Insights

Innovations Insights

Collaboration Insights

Seamless Customer Experience

Rapid Social Marketing Response

Rapid Social Sales

Response Rapid Social

Response Crowdsourced

R&D Enterprise

Collaboration VIP

Experience

Social Campaign Tracking

Proactive Social Lead Generation

Peer-to-Peer Unpaid Armies

Crowdsourced Roadmap

Extended Collaboration

Social Event Management


Case Studies

S  AFTER STEAZ: When an organic tea company started talking on Facebook and Twitter about why teas that are organic matter, consumer listened. In fact they not only listened, they bought the product and sales doubled. When downloadable coupons were then offered on these social networks, 250,000 were downloaded and 2,830 tweets were recorded in an hour.

S  BARACK OBAMA: Social media campaign for the President on My.BarackObama.com raised $30,000,000 from over 70,000 personal fund-raising pages, 400,000 blogs, 35,000 groups and 200,000 offline events. Based on approval ratings, it also was probably the time when trust in the President was highest.


Case Studies

S  BEST BUY (Twelp Force) : Best Buy employee communities grew to 2,200 employees within 3 months and responded to over 13,000 customers on social networks answering public questions, concerns, and opinions. The Twitter feed @twelpforce now counts over 29,000 followers and the number of questions averages 100-125 per day and is considered a key value-add by customers and the company


Case Studies

S  DR. VAKSMAN: Local Dentist with five month old dental practice in San Francisco attracted 320 new clients through social media presence including Facebook, Twitter, LinkedIn and YouTube.

S  H&R BLOCK: Tax preparation is a highly seasonal business. H&R used Facebook and Twitter to provide immediate access to a tax professional for Q&A in the “Get It Right” social media campaign. The effort secured 1,500,000 unique visitors and answered 1,000,000 questions for a 15% lift in business versus the prior year when there was no social media “Get It Right” program


Case Studies

S  INDIUM: A company that manufactures special alloys isn’t sexy; neither is convincing 14 of its engineers to start blogs. But that exactly what the company does. It increased leads, prospects, conversions and sales by double digits plus it gave customers the opportunity to know the company’s employees personally.

S  QUICKEN: Launched social community and blogger outreach to build long-term relationships with future and potential customers and provided free credit reports/scores, home value report and mortgage recommendations. Quizzle.com received over 425,000 visits and 70,000 accounts were created without a dollar spent in traditional advertising.

S  Kolaveri Di – 45,542,295 views on Saturday 25th 2012 at 5:15AM


Social CRM for Professionals

S  Manage Contacts and Clients S  Automate greetings and reminders

S  Bulk & automated communication

S  Generate leads online through Social Media & Web

S  Create & Manage Targeted SMS & Email Campaigns

S  Unified Customer Support through Phone, Email, SMS, Web & Social Media, with side-effects of increasing brand image online & increased customer satisfaction.


How to evaluate Social CRM Products?

S  Does it work with any mobile, not just smartphones? Does it work even without internet access?

S  Does it unify communication across multiple regular and social channels including SMS, Email, Phone, Web, Twitter, Facebook, LinkedIn and Blog thereby allowing both you and your customer to communicate via these channels?

S  Built-in intelligence. Does it intelligently & proactively fetch information about your contacts & their business from web & social media. Does it reduce your daily work by in-built intelligence?


How to evaluate Social CRM Products?

S  Is it multi-lingual? Can you use the CRM in Hindi or Bengali etc. in addition to English?

S  Does it notify you in real-time what your customers are talking about your company, your product & services as well as your competitors and also allow you to respond instantly?

S  Does it have a Business Rule Engine & Workflow Engine to encapsulate your business processes and SLA’s etc.?


Social CRM – SaaS vs Hosted

S  Software-as-a-Service S  Zero to minimal upfront cost

S  Low monthly cost, proportional to team size; you pay more as your business grows and vice versa

S  No AMC,

S  Anytime, anywhere availability

S  Automatic Data protection & backup, increased robustness

S  Protection against hard-drive crash, virus, worms


Social CRM – SaaS vs Hosted

S  Hosted S  Pros

S  Installed on your server so greater perception (not reality) of data security

S  Cons S  Installed on your server

S  Need to ensure: S  Data protection & backup S  Virus, worms, trojans protection

S  Not available anytime, anywhere unless it is hosted on 24/7 connected data center like with a hosting provider


Social CRM - Summary

S  CRM & Social CRM has addressable challenges

S  Social CRM is a mindset and process, not just technology

S  Social CRM today is a requirement, not a luxury for most business. Social CRM market to surpass $1 Billion in revenue by 2012 (Gartner Study).


Resources

S  Social CRM Presentation at IIFT http://blog.relaso.com/social-crm-presentation-at-iift-slides-in-pdf/

S  Review of CRM failures http://pi.vu/GuH

S  CRM Success Factors http://pi.vu/Gum

S  Social CRM Market Size http://www.gartner.com/it/page.jsp?id=1777938

S  Taragana http://taragana.com

S  Relaso http://relaso.com

S  Blog http://blog.relaso.com

S  Facebook page https://www.facebook.com/relasoproduct

S  Angsuman Chakraborty http://taragana.relaso.com/profile/angsuman


Date post:	10-May-2015
Category:	Business
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