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The Convergence of Social Media and CRMJanuary 26th, 2010
Introduction
Richard Bolton• President and Senior Consultant for Centricity360 Software
Consulting.
• 15 years experience in selling, marketing, consulting and implementing a very broad range of software and hardware solutions.
• Microsoft Software Advisor – Microsoft Dynamics CRM.
• Specialize and Strategize on:
• Customer Relationship Management – Sales, Marketing and Customer Support.
• Social Media – Consulting, Monitoring, Strategies, and Software Application Implementation.
• Chair – Marketing and Communication Committee - Milton Chamber of Commerce. Recipient of the Volunteer of the Year 2008.
Agenda
The New Economy – Social Media Impact Traditional CRM The Social Media Revolution Social CRM SCRM - Concept, Approach, Benefits. SCRM Technologies 2010 Q&A
The New EconomyThe Impact of Social Media
Social media is helping to forge a new era in business transparency and engagement, creating both new challenges and opportunities.
Today’s customers expect an honest and direct relationship with the companies with which they do business.
Companies are asked to be increasingly transparent and personal, revealing their human side.
Web 2.0 – 4 C’s – Content, Conversation, Collaboration, Community.
The New EconomyThe Shift
The Old Game
Trying to Sell
Large Campaigns
Controlling our Image
Hard to Reach
Social Economy
Making Connections
Small Acts
Being Ourselves
Available Everywhere
Traditional Customer Relationship Management
One to One Selling. Company to Customer.
Improved Operational Effectiveness – Internal Focus. Features and Benefits. Process Centric – Automation. Workflows. Reporting.
Improved Interdepartmental Collaboration Sales, Marketing and Service working as a cohesive unit.
Data Driven - Easier access to information. Data Centric – All customer data in one Location
Grew out the need to store, track, and report on critical information about customers and prospects.
More about the internal operations of a company.
Social Media RevolutionTransitioning CRM Focus
Content-Driven. Relevant, compelling content. Developing a blog post, podcast, YouTube video, or
Webinar, creating attractive content is a key pillar of Social CRM strategy.
Conversation-Centric. Conversations generate value.
People/Community-Focused. Social CRM is all about people and community. Customers contributing to product innovation
Social CRMDefinition
“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.”
By Paul Greenberg, President, The 56 Group
Social CRM is a company wide philosophy and a business strategy of engaging customers through Social Media for
communicating trust and brand loyalty.
Social CRMDefinition
Social Media Big Picture
Social CRMConcept - Benefits - Approach
What is it?
Web 2.0 is expanded the R in CRM:
CRM
Relationship
Social CRM - The Concept Social CRM is a new organizational philosophy
for governing our businesses in the new social economy.
It’s a customer strategy by which sales, marketing and service departments use social media to engage and support the customer. Externally.
How we share, interpret and act on those conversations in the best interest of customer. Internally.
Interaction with the CRM software system.
Social CRM
Social CRM - SCRM
The 3 Pillars of Social CRM: Social Media
Customers on the Social Web. Content, Conversation, Collaboration, Community.
Customer Relationship Management How Sales, Marketing and Service use Social Media both
external and internal to the company.
Transactional CRM Conversion process where we are converting nurtured
conversations to transaction business.
Social CRM
Integrating Social CRM in Business The Approach
Create a Customer based Social Media Marketing Strategy. Don’t lead with tools and expect your audience to
show up.
P.O.S.T. People, Objectives, Strategy, Technology Groundswell - Josh Bernoff and Charlene Li
Set Company Social Media Policy. Marketing should lead Social Media Strategy.
Monitor, Monitor, Monitor.
Benefits of Social CRMOrganizational Shift
Marketing Teams Meeting prospect at the point of need, earlier in the
buying process. Real Time listening and monitoring of conversations. Gain faster and greater insight into the effectiveness
of their marketing and communication efforts. Helps define and refine their message.
Sales Teams. More relevant information on customers and
prospects. Integrated view of customer online conversations,
analytics (SEO, Website) and existing CRM history.
Benefits of Social CRMOrganizational Shift
Service Teams. Empowered to provide memorable service. Responding to the customer on the customers terms
using the customers medium. Integrated view of the interaction, engagement and
conversation history.
Product Development Collaborate with the customer through the
development phase. Build advocacy and positive word of mouth. Via forums, communities, contests and polls.
Social CRM - BenefitsWhat to expect
Raise Marketing ROI thanks to better targeting, better product solution, customer experience and word-of-mouth.
Improve marketing effectiveness. Identify new business opportunities and improve
cross/up-sell abilities through increasing contact with existing and potential customers.
Increase R&D capabilities and stimulate innovation. Increase customer loyalty – Improve brand
reputation. Decrease customer service costs through self-
helping communities.
SCRM Products to Watchin 2010
Traditional CRM Vendors offering Social Integration Microsoft Dynamics CRM – “Social Media Accelerator”. SalesForce.com – “Chatter” and “Cloud Connectors” Sugar CRM – “Cloud Connectors” Act! – “Social Media Integration”
Community Platforms Offering Social CRM Lithium Technologies – “Social CRM Suite”
Community Applications, Reputation Engine, Actionable Analytics, CRM Connectivity, and Social Web Connectivity.
Brand Monitoring Offering Social CRM Radian 6 – “Webtrends” and “SalesForce”
Microsoft Dynamics CRMSocial Networking Accelerator
Social CRMConclusions
Social CRM does not replace traditional CRM. It extends the traditional CRM capabilities to engage conversations with
customers and the market.
Social CRM humanizes the company. The customers see it as a trusted peer. Customers trust people like themselves.
Social CRM puts the customer at the core of the companies strategy. Affects the entire organizational structure and culture. A new organizational mindset.
Social CRM introduces new value drivers thanks to customers engaged with the brand. Innovation through customers engaged with products.
Q & A
Discussion:Social Media Marketing Strategy
2010
Thank you!