Social CRM

CONTENTS: Introduction to Social CRM

Case Example

Current Scenario

Comparison CRM vs Social CRM

Differentiation b/w CRM and social CRM

Benefits of Social CRM

Use cases of Social CRM

Evolution of Social CRM

The Future of Social CRM

WHAT IS CRM ?

Customer relationship management (CRM) is, as the name suggests, about managing the relationships a company have with your customers, which might be potential or current i.e. anyone in the complete sales funnel. It’s a mixture of business processes and technologies with various consumers touch points like sales, marketing, customer support and feedback etc.

WHAT IS SOCIAL CRM ?

Social media and technologies have brought about a fundamental change in the way we work in our communications pipeline. We now have to deal with conversations and personal relationships. And the relevant conversations are not just about company to consumer anymore, it’s also about consumers to consumers. In this world of status updates, tweets and forum discussions such conversations can give an unmatchable insight.

INTRODUCTION:

•Customer facing Employee

•Centralized innovation group

•Customer life cycle

•Process centric

•CRM process

•Automating and supporting business process

•Single view of customer based on the interactions history

•Individual relationship

• Targeted message generates value

•All Employees engage

•Customers in

•The center of innovation cycle

•Company life cycle

•Conversation centric

•Value chain

•Community creation internally and externally

•Multiple channels complicate single view of customer

•Complex relationship network

•Conversation generates value

Process Technology Channels LandscapeMind set

The following diagram, showcase the transformation from CRM to Social CRM at Deloitte.

CASE EXAMPLE:

Uses new online channels and new communication

tools

Trusts advices made by online

acquaintances and strangers

Tends to buy more online than offline

Wants to provide feedback about the

product and customer service

Expects better customer

experience

Reads and creates product reviews, product rankings and blog posts

Seeks support to connect with like

minded peers

The new social

customer

The following diagram gives a glimpse of why social media is gaining popularity.

CURRENT SCENARIO:

The evolution of CRM 1.0 to CRM 2.0, now referred to as Social CRM.

Old world CRM Social CRM

CustomerCompetitor

Supply partner

Your company

COMPARISON:

Social Media is a platform for consumption of medium running mostly on digital signals like internet and sometimes mobile. Its main differentiating factor from a normal digital website is that such a medium will have functionalities built in to connect users together.

Social CRM on the other hand is a business strategy from the organization's side, and not the end user. Such a business strategy aims to insert such social functionalities and its use cases into business operations like feedback, sales and customer support etc. Social CRM is a strategy which fits into every department like IT, marketing etc. instead of living in a silo.

WHAT IS THE DIFFERENCE BETWEEN SOCIAL MEDIA AND SOCIAL CRM?

Raise Marketing ROI thanks to better targeting, better product solution, customer experience and word-of-mouth.

Gain insights to explore new market segments and improve marketing effectiveness

Identify new business opportunities and improve cross/up-sell abilities through increasing contact with existing and potential customers

Cut sales commissions costs by building community around the brand

Increase R&D capabilities and innovation through tapping into the collective intelligence of your target audience

Increase customer loyalty by promoting transparent dialogue and improving employee/customer interaction efficiency

Decrease customer service costs through self-helping communities

BENEFITS OF CRM

SOCIAL CRM IMPLEMENTATION AREAS

18 use cases of social CRM:

Marketing

•Social marketing insights

•Rapid social marketing response

•Social campaign tracking

•Social event management

Sales

•Social sales insights

•Rapid socials sales

•Proactive social lead generation

Service & Support

•Social support insights

•Rapid social response

•Peer to peer unpaid armies

Innovation

•Innovation insights

•Crowd sourced R&D

Collaboration

•Collaboration insights

•Enterprise collaboration

•Extended collaboration

Customer experience

•Seamless customer experience

•VIP experience

Social Customer insights: The 5M’s

Process Support

Account managementContact managementActivity ManagementLead / Opp ManagementCampaign ManagementSales ManagementService Management…

Process Support

Account managementContact managementActivity ManagementLead / Opp ManagementCampaign ManagementSales ManagementService Management…

RSS

HOW HAS CRM TECHNOLOGY EVOLVED TO MEET THE NEEDS OF SOCIAL CRM?

CRM 1.0

CRM 2.0

Wikis

Blogs

Social Networks

Forums

Podcasts

Widgets

Conversation tools

Monitoring/interconnecting tools

Customer owned data

API’s

Brand monitoring services

Cloud computing

Open ID

Data mining

WHERE IS INDUSTRY HEADINGThe CRM market, estimated at $8-9 billion

globally, is pegged at just $70-80 million in India, though predicted to clock a CAGR of 30-35% over the next few years.

It has been logging one of the highest growth rates in the world, making it the third-largest market in the Asia-Pacific region.

Wal-Mart, Dell, Comcast, Toyota, Domino's, among others, have been proactively addressing customer concerns on Face book. If questions cannot be immediately answered, their social reps normally direct "fans" to a Web page, toll-free number, or customer service e-mail address in a follow-up post.

But there are other types of simple-yet-interesting CRM/loyalty tactics being used. Toyota has been constantly posting comments under "fan" car photos as it continues to reach out to consumers in the wake of its scandal. A post on March 21 read, "Congrats on the new Tacoma, T.J.! Thank you and your family for your continuous support." Seven other similarly toned comments were posted by the Toyota rep within the same hour on that evening. The copy was often akin to post-sales-conversion "Thank You" e-mail subject lines.

It is difficult to break free of current systems and integrate social technologies with it. Social business is not about the tool, it’s about a cultural shift.

There is a great battle for business platforms brewing. Look around for the potential platform owners, and position your business to be able to leverage the platform(s) and data regardless of who ultimately wins that battle.

The Social Web is on a collision course with the enterprise. Those companies that understand the coming changes and are positioned to harness the data and translate real time information into effective action will be those that experience the largest success over the coming decade.

CHALLENGES

THANK YOU !!!!!!!!