Social CRM Ppt Final

7/29/2019 Social CRM Ppt Final

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P R E S E N T E D B Y

GOUTAM KUMAR

ASHOK KUMAR


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Strategy: A plan or action to build in a desired goal.

Social CRM is the business strategy of engaging customers through socialmedia with goal of building trust and branded loyalty.

Not a technology / system / process.

Social Media tech (tools) used to achieve this. ROI not associated withthis.

Basic steps needed:

1. Define the measurable Social CRM goals Base line goals2. Plan of action to achieve them Activity Base line3. Quantify the business benefits arising out of it Also add net new

customers4. Measure transactional precursors

INTRODUCTION:


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Basic Questions to ask before proceeding:

1. How much it is going to cost me?

2. What cash flows I get in return?

3. How it enables me to get my strategic objectives?

4. What are the risks?

5. How does the proposed course of action compare against other

alternatives that I have?

INTRODUCTION:


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SOCIAL MEDIA IS NOT FREE.


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1. It takes people.


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2. It takes technology.


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3. It takes time.


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all of which are limited resources.

We have rocks.


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These resources

=100%of your budget

Head CountAdvertising

E-Marketing

Inbound Call Center

Each resourcehas a specific cost

Sales Dept.

Public Relations

Marketing

I.T.

Accounting

Each resourceyields specific results


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These resources

generate100%of your business

Head CountAdvertising

E-Marketing

Inbound Call Center

Sales Dept.

Public Relations

Marketing

I.T.

Accounting

Losing even 1%of your budgets efficiency

could seriously ruinyour day.


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Okay fine. But if

Im going to take a chanceon this social media thing,

it had better make good businesssense! Why should I allocate

resources to it?


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Things happen in sequence.


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Non-financial impact is not ROI (yet).


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Types of non-financial impact

Website Visitors

Click-throughs

Visitors to a brick & mortar store

Positive press

Positive WOM

Negative press

Negative WOM

Customer complaints

Employment applications

Retweets

Facebook friendsBlog comments

Social mention

YouTube views

Twitter followers

Impressions

Delivered emails

Coupons distributed


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Non-financial impact = potential.


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ROI = actualized potential.


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Reason #1:

COST REDUCTION

Reason #2:

REVENUE GENERATION

Remember what Mr. Bossman said


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Step 1: Establish a baseline

8% YoY Growth


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Baselines illustrate deltas (changes)

Is something happening here?

S 2 C


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Step 2: Create Activity Timelines

St 3 L k t S l R


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Step 3: Look at Sales Revenue

St 3 Al l k t # f t ti


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Step 3: Also look at # of transactions

St 3 Al t t


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Step 3: Also measure net new customers

T ti d t h ld b ifi


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Transaction data should be specific

F.R.Y.FREQUENCY, REACH, YIELD

How often customers transact. (transactions per month)How many customers you are reaching. (net new customers)How much they spend. ($ per transaction)


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The latest numbers indicatethat our YoY sales $ are up 60%.

Our individual transactions havedoubled,

as have our transacting customers.Somethings working!

Groovy!Lets figure out what.

St 4 M t ti l


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Step 4: Measure transactional precursors

St 4 M t ti l


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St 4 M t ti l


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Step 5 Pro e relationships


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Step 5: Prove relationships

Before After

How was this groupTouched by SM?


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With TEI (Total Economic Impact) methodology, Forrester built a model todetermine the impact of social media on a company with any size of contact

center.The TEI methodology provides a road map to consider:

1. Benefits: How company benefits from customer online community?

2. Costs: How much our company pay for costs and resources, for customer

service online communities?

3. Risks: How do uncertainties change the total impact of customer online

service communities on our business?

4. Flexibility: How investment in customer service online communities create

future options for your organisation?

FACTORS DETERMINING ROI ?


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KEY BENEFITS OF ONLINE CUSTOMER SERVICE COMMUNITY?


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COSTS INVOLVED FOR PROVIDING ONLINE CUSTOMER SERVICECOMMUNITY?Organizations involved for providing customer service online community canexpect some STARTUP and RECURRING costs.

Sub-Divided into: PEOPLE, PROCESS and TECHNOLOGY

STARTUP PEOPLETECHNOLOGYPROCESS

RECURRING PEOPLETECHNOLOGYPROCESS


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COSTS INVOLVED FOR PROVIDING ONLINE CUSTOMER SERVICECOMMUNITY?


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CALCULATING THE VALUE OF CUSTOMER ONLINE SERVICECOMMUNITY:To have quantitative assessment of the economic impact of the customer serviceonline community, evaluation of the key drivers like benefits costs and risks was

done, for a hypothetical organisation considering implementing online servicecommunities that:

Provide phone and web based technical service

Customers buy product -> call CCC for issues. Reduction in calls => low cost toserve cust.

Achieve indirect / direct call deflection

In Direct call deflection, customer goes online to community, post a question andget an answer via community responses.

In Indirect call deflection, some people in communities categorized as lurkers readothers posts and get their answers.


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ASSUMPTIONS TO CALCULATE THE ROI FOR ONLINE SERVICE:

Forrester assumed the following characteristics of company before going withtheir study:

1. Company has multiple customer service goals to address through onlinecommunity.

2. Company has a small to medium sized center.3. Company uses a 3 year time frame for analysis.4. Company uses a federated web site search capabilities approach5. Company requires metrics and statistics for community moderator and

customer service director.6. Company routes unanswered questions through customer service agents.7. Company allows customer service agents to have access to community answers.8. Company enable customer community to find answers they need, or get help

from agent.9. Company enable community to stimulate product/service ideation.10. Company uses community to provide more relevant web site content.11. Company seeks to increase customer lifetime value through positive word of

mouth.12. Company reduces the Cost To Market and sell products by taking advantage of

community input.


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ASSUMPTIONS TO DEPLOY ONLINE CUSTOMERCOMMUNITY:

Forrester assumed the following characteristics of company

will experience before it deploys solution for online customerservice:

1. A growing volume of customer service participation in the

community.

2. Success with indirect call deflection.

3. Gains from benefits of direct call deflection.

4. Support from user groups.

5. More satisfied and loyal customers.


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ONLINE SERVICE COMMUNITY CAN DELIVER HIGH ROI:

What kind of results will you get from your smROI .

Other so-called social business valuation tools just show benchmark

measures like the

Number of "Facebook fans" or other metrics they don't really talk about real dollars and sense.

You'll know:

Cash flow summary for Gains and Costs.

Net Present Value of the cash flows for Gains, Costs, and Net Results

(determined over a range of discount rates).

Return on Investment.


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Gains and costs

Look forGains to come from any combination of: Expanded revenues from marketing initiatives (byexpanding your social reach and creating more targetedmessaging).

Call Center savings. Customer Insight savings.

Brand Protection savings.

Lead Generation savings. And Costs span:

People.

Social technology platform.


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FLEXIBITY: DEPLOYING CUSTOMER SERVICE COMMUNITYPROVIDES VALUEFlexibility, as defined by TEI methodology, is the benefit to the organisation in thecreation of future options, from initial investment.

Possible that company started the online community with one use in mind, andwants now to leverage the platform to take adv of additional value of additionaluses and business opportunities.Original investment + Additional costs = Get additional benefits forcompany

Example:Company develops online community to gain best practice knowledge.Customer service community paves way for developers, marketers, sales, qualityassurance communities.Costs of these communities is reduced as the company has already developed onecommunity and it can leverage the expertise gained from the learning curve.


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Social CRM Ppt Final

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