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Social CRM-The Future

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Infosys Social CRM offering and the Social CRM sphere.

Infosys Social CRM offering and the Social CRM sphere.

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  • Social Media’, ‘CRM 2.0’, ‘Social CRM’ are some of the buzzwords being hotly debated by the customer management and business process thought leaders today. What is it? – An extension to the traditional CRM by including external conversations outside the existing customer touch points with organizations.What does it constitute of? – Social Media Channels/Social Web Tools + Traditional CRM + Middleware Tools.The need from business context? – The social tools have created the highly networked social customer who interacts with his peers using conversation channels that are outside the control of the company and provides views and opinions about the products/services offered. Result? – With easy availability of information, businesses are required to engage in a more open and transparent manner with the customers using traditional as well as new channels. They have to filter the relevant and the important inputs from all the noise on the social web and act upon the same. This Infosys point of view illustrates our understanding of how Social media is transforming Customer Relationship management and how it can be leveraged in various CRM processes to achieve significant customer benefits.
  • These imperatives should be a part of the Social CRM strategy.
  • Transcript

    • 1. Infosys Social CRM Service Offering
      1
    • 2. As organizations move from Operational CRM strategy to a Collaborative Social CRM strategy, focus on customer centricity steadily increases….
      We are here
      Phase 2
      Multi-Channel CRM
      Phase 3
      Analytical CRM
      Phase 4
      Social CRM
      Phase 1
      CRM Infrastructure
      ROI, Customer driven
      Interactions
      Global Data Models,
      Analytical Information Repository
      Enterprise
      Interaction Centers across Bus
      Global Web hosting
      Global Toolsets
      Point Solution Support
      Separate Customer Master files
      Operational Metrics
      Suggested Selling
      Aligning to Profitable Customers
      Focus on return on sales
      SARBOX and Forecasting
      Partnering, Intimacy
      return to Sales Lift
      Forward Value
      Looking,
      not cost to serve
      Integrated
      Within
      Function Area
      Ordering on Web,
      Product Configurators
      Profitable Segments
      Campaign &
      Event Tracking
      Sales
      Consolidation
      SLA stats
      Off-shoring
      New Tools
      Focus on Customer Data
      Click Stream Analysis
      Email Campaigns,
      Web site sign-up,
      SFA Data Sharing
      Self-Service from a cost perspective
      Experience Design
      On-demand integration
      Campaign Management
      More reach, Faster
      Marketing
      Focus on Efficiency not effectiveness
      Service
      Web
      2
    • 3. What is Social CRM ?
      Social Media Channels/Tools
      Traditional CRM
      Social
      CRM
      Middleware Tools
      3
    • 4. How is Social CRM Changing the game and Why?
      Social CRM
      • Collaborative partnership
      • 5. Personalized CRM efforts
      • 6. Engaging Customers and creating ownership / influential power
      • 7. Consistent Presence and Prompt response and issue resolution
      • 8. Reduced risk of product failure
      • 9. Increased opportunity to build customer Value and Loyalty
      • 10. Customers as Brand Advocates
      • 11. Customer driven Service and Support
      Traditional CRM
      • Weak links in Communities/Forum
      • 12. Heavily Sales Oriented
      • 13. Uni-directional Communication
      • 14. Enterprise-driven Messaging, Brand building
      • 15. and Product Design
      • 16. Non-Uniform Customer Experience across Channels
      • 17. Employee-driven Customer Support and Service levels
    • Social CRM- Need to cater to the Social Customer requirements
      Forms a lasting impression
      of the product / service
      Likes to Collaborate and Contribute to new ideas
      Tells more people about their experience
      Social Customer
      Social Customer Behavior
      Is 2x more likely to churn/attrite if he is not satisfied
      Is hungry for information
      “Social Calling” (or a “warm introduction”, as traditionalists might call it) is 8–10 times more effective than cold calling, and so the business value of social connections is there for all to see.
    • 18. Key Trends in Social CRM
      In line with the social media driven Market Dynamics , Infosys Social CRM Offering is best suited for Organizations moving away from “Enterprise-driven” Approach to focusing on “Customer Engagement” as well as “Profitability”
      Growth of Social Customers – US online users spend 25% of their time on Social networks
      Increased Competition in Market Place and pressure to maximize customer wallet share
      Increased usage of Social CRM tools, Web 2.0 tools to elicit and enrich customer ideas for product innovation and co-creation
      Differentiated treatments and products for different customer segments
      Deep customer insights in communities, Peer Networks and forums
      By end of 2010, more than 60 per cent of Fortune 1000 companies will have some form of online community that can be used for customer relationship purposes.
      Social Media becoming an integrated component of multi channel strategy to attract, engage and retain customers
      Increased Risk of doing Bad Business as 67% of customers would share their bad experience on social media by 2015
      Increasing influence of peer networks in shaping Customer Opinions.75% trust peer opinions whereas only 25% are influenced by what a CEO communicates about a brand
    • 19. Infosys’ Social CRM Service Offerings
      7
    • 20. Infosys Recommendations to leverage Social Media to enhance Strategic CRM Capabilities
      Ability to engage with the customer using Social Media such as networking sites, blogs, communities, wikis, podcasts, forums, peer to peer support groups, Innovation Communities
      Access to untapped customer insights available on various social media
      Ability to innovate and co-create products, solutions and services with customers collaboratively through Innovation communities
      Creating increased brand awareness and reducing product failure for the product in addition to customer engagement
      Engage and positively influence customer buying behavior, and thus increase retention and revenue/customer
      20% OFF
    • 21. 9
      Infosys Recommendations to leverage Social Media to enhance Strategic CRM Capabilities
      Ability to listen to customer conversations to get deep market insight and leveraging social media to direct researching decisions over the traditional data –driven market research
      Ability to formulate sales strategies based on customer sentiment towards the brand and competitors instead of a target-oriented push strategy
      Foster and empower customers to solve each others service issues through peer to peer communities
      Faster identification and resolution of customer issues
      Shifts the brand building activity from the Company’s marketing division to the loyal customers who become brand advocates in social media
    • 22. Industry vertical specific Social CRM Use Cases
      10
    • 23. 11
      Industry vertical specific Social CRM Use Cases
    • 24. Thank You

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