From Being Social to Buying Social

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Social Engagement is limiting the use of the medium. Enhance your Brand's Social Capital by putting social to relevant business use.

Published in: Social Media, Business, Technology
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  • Good to see a clearly defined social strategy with its direct benefit to the business and service. A lot of corporations still see Social as a fuzzy nice to do objective but without clear goals. Well done, Anisha!
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From Being Social to Buying Social

  1. 1. From Being Social to Buying Social Enabling businesses with Social Commerce
  2. 2. Social Commerce is not stand alone, it had arrived the day you opened your brand for display. 1 The big questions that brands ask: Are we ready for it, yet? The time has come to measure and promote it... Its your silent benefactor.
  3. 3. Does your organization do the following on social? • Nurtures a community on any social network? • Creates or curates content? • Uses social media to engage and interact with consumers? • Listens to conversations around the brand? • Uses social ads and promotions? • Does consumer research? • Recruits through social platforms? • Encourages referrals on social platforms? 2 If the answer to any of these is YES, then your organization , in one way or the other, is already doing business through Social Media
  4. 4. 3 Legacy Now What It Means What’s New Distribution Social Presence Always - Anytime & Anyplace From Walk-ins to Fans Followers & Reactors TOMA Social Engagement Look at me , Hear from me and Remember me From Look to Interactions Customer Service Social Care (for Customers, Prospects, Fans, Followers and Influencers) From Reactive to Proactive Listen Always and Act Always – Don’t wait for the Doorbell Stand Alone One To One Sales Social Acquisitions I will enquire if someone refers. I will buy if they have bought. Push Sales to HALO EFFECT The Evolution from Conventional Business to Social Business Word Of Mouth and Reputation Social Buzz Innovate and Co Create From WON WIN to WIN WIN SOCIAL CAPITAL The social media efforts of your organization result in the ‘Social Capital’
  5. 5. Your Social Capital will lead to Social Commerce 4 SOCIAL CAPITAL Social Presence Social Engagement Social Buzz Social Acquisitions Social Care Prospect Pool Retention&Loyalty Advocacy&Insights Sales Revenue Referrals Captive Dollars Interest, Enquiries and Hot Leads Retain Order Book ($) and minimize Competition imprints Billed Business Save Advertisement & Survey Dollars
  6. 6. SOCIAL PRESENCE Social embedded at Business touch-points and Business etched into Social assets 5 Helping people buy where they connect... …and connect where they buy
  7. 7. 6 SOCIAL PRESENCE Social embedded at Business touch-points and Business etched into Social assets Ameriprise uses Linkedin to help Customers find Advisors
  8. 8. 7 SOCIAL PRESENCE Social embedded at Business touch-points and Business etched into Social assets Max Life: Embedding social at the core of our new corporate website to create meaningful interactions and deeper engagement 7
  9. 9. SOCIAL ENGAGEMENT Shape opinions about your brand and increase propensity to purchase 8 Convergence of Max Life e-commerce site and Facebook login • Pre-filled information • Give Ratings, Reviews and Recommendations 8
  10. 10. Choose the people who have shaped you and show them how valuable they are… Content/messaging The Most Valued 5 Customized referral application Referral generation Referral communicationAmplification Max Life: Drive referrals on social platforms through a thematic consumer connect of valuing & protecting professional relationships SOCIAL BUZZ Deploy social mechanisms to facilitate advocacy, obtain opinions & reviews and drive referrals
  11. 11. i-genius @Consumers India’s Largest Corporate Scholarship program • Education & Talent • Annual Scholarships worth Rs 1 Crore i-genius Young Authors’ Hunt •Young Writing Talent • Book and e-book titled i-genius A Twist in the Tale SOCIAL BUZZ Deploy social mechanisms to facilitate advocacy, obtain opinions & reviews and drive referrals Create brand differentiation by owning the child space i-genius @Sales Unique Relationship Builder for Agents Shift the conversation from a Sales call to much more Awareness & consideration among prospects through meaningful interaction i-genius @Customer Enrich the relationship of existing customers with Max Life Engage them better Higher Loyalty Brand loyalty, renewals and referrals triggered through engagements with customers i-genius @Employees Dedicated igenius scholarships for children of employees & agents Employer Value Proposition Caring organisation Internal engagement Max Life: igenius – a parent & child engagement programme that aims to create a connect beyond business
  12. 12. Strong, relevant, self-sustaining with built-in community amplifiers On Ground. Online. Interlinked. -igenius scholarships Fun & Learn Parenting Workshops CONTENT CONVERSATIONS Providing reasons to stimulate Social Conversations on an ongoing basis at multiple platforms i-genius Young Authors Hunt COMMUNITY Built on a foundation of relevant community driven interventions. Activities touched various facets of talent both among children & parents. SOCIAL BUZZ
  13. 13. COMMERCE has naturally followed with engagement with this community Over 20 lac registrations in i-genius since 2010 3.65 lacs Facebook Community Over 39,000 community members have become customers Over 36,000 policies, AFYP of Rs 114 crs since ITD Greater Loyalty from over 1,21,000 customers have enrolled their children in i-genius An all new child plan is being developed based on the insights gathered from the community SOCIAL BUZZ
  14. 14. SOCIAL ACQUSITIONS 13 Driving acquisitions through social with customized propositions or a distinct process American Express lets customers buy stuff on Twitter by using a hashtag Dell drives exclusive flash sales using social media that are only for the social community
  15. 15. 14 Max Life: Plan to capitalize on check-ins during Parenting events to promote child plans 14 SOCIAL ACQUSITIONS Driving acquisitions through social with customized propositions or a distinct process
  16. 16. SOCIAL CARE 15 Customer experience management focused on listening, solving and proactively improving processes to aid retention and loyalty Shift from the conventional CRM that was transactional in nature to Social CRM that is conversational and collaborative Evolution of CRM Infographic by Alyson Stone; Image Source: http://www.desk.com/blog/evolution-crm-infographic/
  17. 17. 16 SOCIAL CARE Customer experience management focused on listening, solving and proactively improving processes to aid retention and loyalty Max Life: Proposed Social CRM application that will manage servicing, renewals, query log-in & resolutions while having a core engagement idea at heart that drives repeat usage
  18. 18. 17 SOCIAL CARE Customer experience management focused on listening, solving and proactively improving processes to aid retention and loyalty Listening and ORM Practice to facilitate customer servicing - cross functional processes to resolve queries and complaints with minimized lag and step-by-step tracking
  19. 19. Twitter’s evolution takes it down two very specific paths: One of them is Customer service. SOCIAL CARE Customer experience management focused on listening, solving and proactively improving processes to aid retention and loyalty Max Life: Gearing towards a full scale query resolution process on Twitter
  20. 20. FUTURE GAZING – WHAT WILL PLAY OUT IN THE NEXT THREE YEARS FORESIGHTS • Focus to shift from Big Data to Unified Data • Advocacy & Referrals to be the harbinger of Acquisitions • Social CRM to turn into a necessity • Underwriting to go social and social risk to become a global parameter 19 CHALLENGES • Data integration in view of regulations and data policies • Limitations of tools to measure a “criss-crossing” consumer journey • The approach to social – Fragmented instead of Business centric • Security & Privacy concerns • Absence of platform agnostic development technologies that lead to inflated costs and timelines

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