Creating Social Business Experiences

Customer Experience Featured Mzinga Webcast: Creating Social Business Experiences October 2011MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 1

Introductions Alan F. Nugent Mzinga CEO @AlanFNugent anugent@mzinga.com Eve Sangenito Mzinga, VP Marketing @esangenito eve@mzinga.comMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 2

A Few Housekeeping Items…  Being social is about interacting & engaging Session Follow-up each other & sharing ideas… so the best way After the event, the to experience it, is to just jump in and do it! following materials will be made available to all  Feel free to tweet about our discussion (#mzinga) of you: • Presentation slides  Join the chat. If you have any advance • Webinar recording questions during the presentation, just add them into the chat now and we’ll address • Chat transcript them at the end of the session  We also know some of you will prefer to just listen; that’s cool tooMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 3 3

Today’s Agenda Topics The Changing Business Landscape The Social Business Model & Key Experiences Getting Started In Your Organization Q&AMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 4

The pressure on businesses is higher than ever to…MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 5 5

Work smarter & more efficiently. According to IDC, the cost of NOT easily finding information = $3,300 per employee each year (That’s $3.3M in annual lost opportunity cost for a business of 1000 people)MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 6 6

Build brand credibility & buyer trust. 30% of consumers rely less on advertising, and much more on recommendations from friends and family for making buying decisions.MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 7 7

Reduce customer response times. More than 90% of customers issues havent been unearthed in most organizations, and in addition, often the organization doesnt have answers for them, according to Forrester Research. These issues lead to long support calls, poor issue resolution, cost increases and customer dissatisfaction.MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 8 8

Improve customer loyalty & satisfaction The primary driver of a consumers loyalty is their experience with your business, product or service. Yet, marketers on average only invest 20% of their programs in loyalty and customer experience efforts.MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 9 9

Introducing the Social Organization…MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 10

The Elements of a Social Organization A New ModelIdeate Share Listen ChangeFlickr image uploaded by Caveman (Kickin 66 with Pete Zarria) Flickr image uploaded by Ed Yourdon Flickr image uploaded by andronicusmax Flickr image uploaded by adam*bShared under Creative Commons Shared under Creative Commons Shared under Creative Commons Shared under Creative CommonsAttribution-No Derivative Works 2.0 Generic Attribution-Share Alike 2.0 Generic Attribution 2.0 Generic Attribution 2.0 GenericLicense License License License MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 11

Social Business Ecosystem • Streamlined client acquisition • Customer engagement • Loyalty & retention • Listening & engagement • On-demand support • Brand building Customer • Demand generation Experience • Social commerce Brand Mzinga Social Employee Experience Business Experience Ecosystem • Engagement & Partner collaboration Experience • Satisfaction & retention • Social business • On-boarding & outsourcing recruiting • Indirect revenue • Social learning streams • Developer networksMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 12

Forces Changing Business Dynamics Changing workforce Business & customer dynamics Drivers for Social Business Experiences Failure of traditional Increase in hierarchical social media processes alone adoption to meet varied business needsSource: Constellation Research ON-DEMAND SOCIAL MZINGA l #1 IN SOFTWARE l MZINGA.COM 13

Employees Are Already Using ItMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 14

New Approaches Improve SatisfactionMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 15

Brand & Customer Engagement… MZINGASource: Forrester l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 16

And Overall Customer ExperienceMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 17

Solving Real Business Challenges • How can I innovate my products faster? • How can I stay abreast of market research for R&D? • How can I streamline product development? • How can I improve brand visibility? • How can I drive enhanced demand generation? • How can I increase website traffic & ad revenue? • How can I develop long-term relationships with customers? • How can I reduce sales cycle? • How can I accelerate new client opportunities? • How can I reduce support costs? • How can I reduce response times in addressing client issues? • How can I improve customer retention & loyalty?MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 18

What does it mean to foster a social “customer experience”?MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 19

“ …to engage the customer in a collaborative conversation in order to provide a mutually beneficial value in a trusted and transparent business environment. ” - Paul Greenberg, Author CRM at the Speed of Light: Social CRM 2.0 Strategies, Tools, and Techniques for Engaging Your CustomersMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 20

“ It is not about the technology, it is about the people, process and cultural shifts necessary to support and grow a business with the social customer. ” - Mitch Lieberman, Comity Technology Advisors “ Ultimately social media is not about the tools, technology and whiz-bang things. It’s about culture and culture change. ” - Scott Monty, head of social media Ford Motor CompanyMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 21

A consistent, engaged customer experience aligned with a comprehensive customer lifecycle is essential … From the Customer’s Increase sales team Awareness & information From your Perspective collaboration and enable more gathering Perspective 1 direct target buyer interactions- ultimately reducing sales cycles. Acquire Continued support 6 2 Purchase experience Consistent Customer Customer Experience Solutions Experience Ongoingcommunication & engagement 5 Support Engage 3 Implementation/ on-boarding experience Significantly reduce support costs and improve customer response times by making your 4 Develop more interactive, team readily accessible to mutually beneficial relationships customer needs in real time. with customers that improve Ongoing satisfaction & retention. product/service experienceMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 22

Let’s look at a few examples…MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 23

Use Case: Customer Acquisition Solution Overview Social Commerce: Integrated ratings & reviews on all online products for sale on an eCommerce website Business Goals • Increase revenue through product ratings & reviews • User reviews improve buyer trust, and drive customer retention Results & ROI • 2.9M unique visitors monthlyA specialty retailer and direct marketer of nutritional productsranging from vitamins and minerals to nutritional supplements, with • Increased web trafficmore than 400 locations in 37 states. • Increased product sales for highly rated productsMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 24

Use Case: Customer Engagement Solution Overview A private, online community where annuity clients can network, interact, and discuss financial and lifestyle topics Business Goals Improve engagement drive loyalty among the organization’s most valuable & influential customers • Increase revenue • Increase membership • Cultivate business intelligence & market research Results & ROI“ With nearly [60,000] members and several hundred posts, myretirement.org seems to have established a solid footing • Significant community adoption • High community retention rates ” among plan participants. • Increased participation in financial services programsMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 25

Use Case: Customer Support Solution Overview Peer-to-peer support forums embedded within the SyncMyRide product site, including integrated vehicle avatars & pre-moderation Business Goals • Provide more timely, efficient customer support and product research • Establish a user-generated knowledge base of Sync product information for on- demand reference Results & ROIAn American multinational automaker, the second largest in the • Over 14k active membersU.S. and the fifth-largest in the world based on annual vehicle • More than 5M message viewssales in 2010 at $40 trillion. • Reduced customer response times • Decrease in Sync support costs • Direct access to product researchMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 26

What does it mean to foster a social “employee experience”?MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 27

“ Todays workplace is diverse, distributed and full of context shifts. Investing in collaborative business practices is essential to productivity and competitive advantage. ” “ More techniques and technologies will emerge that incorporate social software, and the lines between learning, talent management and human capital management systems will continue to blur. ”Source: Gartner MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 28

A collaborative, interactive employee experience aligned with key business processes is key to building an effective workforce… Recruiting & On-boarding 1 Communication Satisfaction & Retention 6 2 & Collaboration Collaborative Employee Experience Performance & Career Development 5 3 Learning & Development 4 InnovationMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 29

Let’s look at a few examples…MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 30

Use Case: Social Recruiting Solution Overview An interactive forum where job seekers can find information and resources to further their career goals Business Goals Connect job seekers directly with Monster.com experts, hiring companies and their peers to plan the next steps in their career path to improve user engagement, and offer users added value to build loyalty Results & ROI“ • Improved user engagement We wanted to create an interactive forum where job seekers could • Streamline recruiting for organizations find information and resources to further their career goals. The and job seekers ” Advice Forums allow our members to connect directly with both our experts and their peers to plan the next steps in their career path.MZINGA Inc.l Confidential Mzinga, #1 IN ON-DEMAND SOCIAL SOFTWARE l 31 MZINGA.COM 31

Use Case: Learning & Development Solution Overview Deliver an enterprise-wide ecosystem to manage knowledge sharing for 28,000 geographically dispersed employees. Business Goals Reduce training overhead by while continuing to address the same level of employee competency Results & ROI • 60% reductions in training admin staff The world’s premier measurement company—advancing needs electronics, communications, life sciences and chemical • 90% reductions in training vendor needs analysis, with customers in 100 countries, 28,000 employees and $5.1 • Saved $10M with eLearning adoption billion in revenues.MZINGA Inc.l Confidential Mzinga, #1 IN ON-DEMAND SOCIAL SOFTWARE l 32 MZINGA.COM 32

Getting Started In Your Organization….MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 33

Components of an Effective Strategy 1. Build a Business Case 2. Identify SMEs & Others to Champion & Get Buy-in 3. Develop a Strategy- Focus First on Key Pain Points 4. Identify Your Audience & Focus on Their Needs 5. Develop Content & Programming Plans 6. Select a Solution That Will Meet Your Needs 7. Listen & Be Responsive 8. Measure, Measure, Measure!MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 34

Key Strategy Considerations Audience Change Management • Who is my initial launch audience? • Balance the content, configuration, and workload with what you have to share • What information do you want to capture about them? • Recognition of user • What do you want them to share and • Changes to business critical applications how can they network with one another? & environment Measurement Content Technology • What content will provide value to your • What capabilities are included in the users? initial launch? Future phases? • Branding decisions • How will you drive programming for that content? • Permissions • Workflow • What content expectations do you • Integration with key business apps have of your users?MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 35

Key Cultural Considerations Start with a Implement Use initiative-level reward community Gain project as Identify models to and social Executive proof-of- roles & inspire elements seen buy-in concept for responsibilities behavior as key to the broader change transition adoptionMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 36

Key Measurement Considerations Planning Questions During the planning process of a social Who will consume the learning initiative, What will be measured? metrics? What is the workflow? seek answers to the following questions: What value will metrics be How often should metrics be What is a metrics priority? given to impact decisions? updated? How will social activity What are the models for ROI, measurement be funded? total value and KPIs?MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 37

ROI Should Tie to Your Business Goals Measurement aligned with strategy, roles and target outcomes Clearly Defined Business Objectives The ROI Pyramid: All Roles, Metrics, and Data TypesMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 38

4 Perspectives Of A Social Business Balanced Scorecard Forrester., “The ROI Of Social Media Marketing”MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 39

Sample Social Business Goals & Objectives 1. Financial 2. Digital 3. Brand Satisfaction 4. Risk Management • Has revenue or • Has your company • Have consumer • Is your organization profit increased or enhanced its attitudes about the better prepared to costs decreased? owned and earned brand improved? note and respond digital assets? to attacks or problems that affect reputation?MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 40

Measurement Best Practices Publish updates that Add social Listen and Build Seek patterns includes dimensions calculate Establish a dashboards among the Maintain a metrics to into the engagement, continuous with relevant social benchmark to inform others employee influence, improvement social metrics business compare of the record or sentiment culture, along and learn the activity to against future presence and customer and overall with an ROI procedures of build a metric snapshots. value of the relationship adoption & model. test and model initiative, and management retention. measure. repository recruit others data model to participate.MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 41

Social Business Maturity Figure 9: Match Your Spending Priorities to Your Social Business MaturitySource: Altimeter Group MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 42

Let’s Take a Practical ExampleMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 43

Getting Started: Business Case Task Example 1. Clearly articulate Implement a solution to enable continuous collaborative your social business sales effectiveness & knowledge sharing vision 2. Create a thorough • Improve productivity business case & • Reduce sales cycles detailed business • Increase sales team retention goals 3. Define your target Globally dispersed sales force who sells various financial audience services products & solutions • A collaborative sales organization that is more readily 4. Define the culture that knowledgeable to educate prospects this approach • Has resources and SMEs accessible on-demand in the creates across the field organization • Is generally more empowered to focus on their core competency of sellingMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 44

Getting Started: Business Case Task Example 4. Support your social • Increase sales readiness to deliver impacts from the field business case with • More knowledgeable, collaborate salespeople win 65% data and use cases more business* (that align with your • Improved access to information can reduce costs by business goals) $3,300 per employee each year** • Resistance to change (Champions needed) 5. Identify expected risks • Inappropriate UGC (monitoring & moderation) and mitigations • Must provide proof of value (clear measurement) 6. What technology • Solution that will grow with adoption over time solutions do you need • Social networking (connect with others in real time) to support your • Content sharing capabilities (blogs, discussions, etc) goals? • Collaboration capabilities (files, ideation, etc) *Source: Forrester Research **Source: IDCMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 45

In Summary 1. Build a Business Case 2. Identify SMEs & Others to Champion & Get Buy-in 3. Develop a Strategy- Focus First on Key Pain Points 4. Identify Your Audience & Focus on Their Needs 5. Develop Content & Programming Plans 6. Select a Solution That Will Meet Your Needs 7. Listen & Be Responsive 8. Measure, Measure, Measure!MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 46

QuestionsMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 47

Creating Social Business Experiences

by Mzinga on Oct 19, 2011

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Creating Social Business Experiences — Webinar Transcript