From Fans and Followers to Customers and Advocates: Social CRM Presentation at Blog World Expo 2010

From Fans and Followers to Customer and Advocates Jacob Morgan and Brent Leary

Principal, Chess Media Group
Author of Twittfaced
Blogger on Customer/Employee Engagement: jmorganmarketing.com
Traveler, Chess Lover, and Explorer
Twitter: @JacobM
Email: [email_address]

Some Numbers (customer side)
93% of Americans want brands to have a presence on social media sites (2008 Cone Business in Social Media)
Three most influential factors for consumers when deciding which company to do business with are:
personal experience (98%)
company’s reputation or brand (92%)
recommendations from friends and family (88%) (AMEX)
Americans Will Spend 9% More With Companies That Provide Excellent Service (AMEX)
7% of organizations understand the CRM value of social media according to the Brand Science Institute, European Perspective, August 2010.

Some Numbers (employee side)
Collaboration has a 36% impact on overall business performance (Frost and Sullivan)
Companies with high employee engagement had a 19% increase in operating income and almost 28% growth in earnings per share. Companies with low levels of engagement saw operating income drop more than 32% and earnings per share drop over 11% (Towers Perrin Global Report 2007-2008)
Four our of five workers are not living up to their full potential or doing what it takes to help their organization succeed. Employers are not harnessing the full power of their workforce and achieving the performance lift that high engagement delivers. (Towers Perrin Global Report 2007-2008)

High Level Challenges Are you having problems responding to customer requests? Are you losing to competitors? Are you closing enough deals? Do email campaigns work for you? Having trouble finding customer information quickly? Any issues sharing customer Information across the company? Are your sales people always in the office? Lost any good customers lately? Is the sales pipeline full?

Traditional CRM
Lead management
Campaign management
Customer profiling
Opportunity management
Contact management
Activity management
Ongoing dialog
Web self-service
field service
CATCH Sales Automation KEEP Customer Service FIND Marketing Automation CUSTOMER RELATIONSHIP MANAGEMENT

Traditional CRM: How It All Fits Campaigns Forecast Accounts Opportunities Contacts Leads Analyzed to determine success CONVERT TO FEED TO GENERATE CONVERT TO FEED TO

Example of a Small Business Sales Cycle Marketing Collateral 10 % Likelihood of winning Needs Analysis 20 % Likelihood of winning Presentation 40 % Likelihood of winning Proposal 60 % Likelihood of winning Contract Submitted 80 % Likelihood of winning Closed Lost Negotiation 90 % Likelihood of winning Closed Won

CRM Timelime…. Contact Management Individual usage PC based CRM Suites SFA, MA, CSS: Workgroup Server bas ed Early 1990s Mid 1990s Today CRM On-demand Browser based Early 2000s Social CRM Mobile CRM Handheld Accessible from anywhere

Small Business Success Index, Network Solutions - 2010

C R M or C I M? Customer Information Mgmt
Traditional CRM Strategy Focus
Centralize Customer Data
Operational Efficiency
Forecasting
Activity Management
Reporting
But What About THE CUSTOMER???

“ Social” challenges… to The Customer
Finding time to turn searches into answers/solutions
Finding enough trusted information
Finding trusted vendors
Finding vendors who value them
Creating opportunities for meaningful exchanges

Trust update

The Customer Experience is Social Friends of friends Social web Your Community www Site Your Brand Competitor A Competitor B Influencers Friends Your www Site Your Contact Center Competitor C Courtesy of RightNow Technologies Earned Hosted Owned Relationships Conversations Processes

Defining CRM… Socially Content Information Confidence Sales process Conversations Analyzed to determine success CONVERT TO FEED TO Exchanges Relationships Customer Partner Vendor Community Influencer GENERATE CONVERT TO CREATING

SOCIAL CRM CONTENT Automation COMMUNITY Facilitation LISTENING Automation SOCIAL CUSTOMER RELATIONSHIP MANAGEMENT TRANSFORM Management

Headline 1…
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Agenda Created by Jeremiah Owyang and Ray Wang from Altimeter Group

Will Companies Succeed? “ By 2010 more than half of companies that have established an online community will fail to manage it as an agent of change, ultimately eroding customer value . Rushing into social computing initiatives without clearly defined benefits for both the company and the customer will be the biggest cause of failure .” ~ Gartner Group

Headline 1…

Social Media and Social CRM

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Social Media Customer Care Maturity Model Listening (or ignoring) Social Media Broadcasting Social Media Marketing Social Media Customer Care Proactive Engagement
Occasional reporting
Reactive/surprised by social media
Facebook page and Twitter presence
Broadcast standard marketing via social media
Social Media strategy
Engagement marketing
Scalable engagement process
Teams work queues
Proactive Customer Care
Proactive Sales
Brand dashboarding
Minimal customer care involvement
Managed process
Team activity reports
Social Media Business Intelligence
Cisco, 2010 Level 1 Level 2 Level 3 Level 4 Level 5

Mobile Web Self-Service Mobile Web Chat Mobile Web Guided Assistance Mobile Web Ask A Question Enabling the Mobile Web Experience Courtesy of RightNow Technologies

Self-Service Courtesy of RightNow Technologies

Crowd Service Courtesy of RightNow Technologies

Key Takeaways
Social CRM is not a replacement for CRM or social media
Social CRM is not about a technology solution
Social CRM is more than marketing, promotion and branding
Social CRM solves business problems that have always existed
Social CRM is a long term strategy and not campaign based
Social CRM is process centric vs conversation centric

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From Fans and Followers to Customers and Advocates: Social CRM Presentation at Blog World Expo 2010

by Jacob Morgan on Oct 16, 2010

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From Fans and Followers to Customers and Advocates: Social CRM Presentation at Blog World Expo 2010 — Presentation Transcript