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Social CRM: A Function or a Business Strategy
 

Social CRM: A Function or a Business Strategy

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Social CRM is a key business aspect these days in the social media domain. This presentation highlights key frameworks of Social CRM with relevant examples.

Social CRM is a key business aspect these days in the social media domain. This presentation highlights key frameworks of Social CRM with relevant examples.

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    Social CRM: A Function or a Business Strategy Social CRM: A Function or a Business Strategy Presentation Transcript

    • Anandan Pillai FPM Research Scholar, MDI, Gurgaon Social CRM / CRM 2.0: A Function or a Business Strategy ?
    • Definitions
      • CRM is a philosophy and a business strategy supported by a system and a technology designed to improve human interactions in a business environment. (Greenberg, 2003)
      • Social CRM is a philosophy and a business strategy, supported by a technology platform, business rules, processes, and social characteristics , designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted and transparent business environment . It’s the company’s response to the customer’s ownership of the conversation. (Greenberg, 2010)
    • Traditional CRM
    •  
    • Traditional CRM – ‘Operational’
    • Weaknesses of Traditional CRM
      • Reactive measure
      • Transaction oriented
      • Less involvement with customers
      • Less chances of amending value proposition
    • Drivers of SCRM
      • Mobile devices & Internet penetration
      • Customer’s online purchase behavior
      • E-commerce / M-commerce / F-commerce
      • Social network phenomenon
      • Increasing brand participation in social networks
      • Open tendency of people to discuss and share online
      • Content available in various formats – text / audio / video / games etc.
    • Gen C
      • Content
      • Connected (with peers)
      • Creative
      • Collaborative (with firms)
      • Contextual
      • Communicative
      • Source: Greenberg (2010)
    •  
    • SCRM Process
    • SCRM Process
    • Rich Information Captured
      • Transaction data
      • Customer Profiles
      • Customer Experience Maps
      • Social Network Analysis
      • User Generated Content (UGC)
    • Traditional vs. Social CRM Traditional CRM Social CRM Focused at the end of value chain Focused throughout the value chain Transactional / Operational Relational Customer “Management” Customer “Engagement” Inside – out Outside-In & Engagement oriented Isolated technologies (Siebel, Oracle, SAP) Integrative technologies (Database oriented + Social) One – way communication Dual way communication Intellectual property owned by firm Intellectual property shared between firms and stakeholders Marketing oriented Strategic Management
    • RoI of SCRM efforts
      • Improved brand experiences
      • Increased Sales
      • Enhanced customer knowledge
      • Increased number of brand influencers in market
      • Positive word of mouth
      • Positive sentiment about brand
    • SCRM Framework
      • Woodcock, Green & Starkey (2011)
    • Case study 1 Book- CRM at the Speed of Light
      • Asked questions in communities like LinkedIn & Plaxo to connect with CRM experts
      • Asked questions on Twitter, FriendFeed, Facebook
      • Setup a wiki Pbwiki
      • Award winning personal blog PGreenblog
      • Third party blogs on social customer.
      • Community gave suggestions via mail, phone, wiki, blog, community discussion, Twitter, surveys etc.
    • Case study 2 SheepStop
      • Crowdsource T-shirt designs
      • Selection of designs by polls on Facebook
      • Selling of T-shirts by bids on Twitter
    • Case study 2 SheepStop
    • Case study 3 HP – Project Fusion
      • Unstructured data (Amazon.com reviews, customer surveys,  customer support logs, and other natural-language text)
      • Structured data (customer support tickets, sales transactions, customer demographics)
      • Using HP Labs’ new text analytics technology, the team first converted the unstructured data into a structured format
      • Identify sentiment more granularly than other solutions
      • Deployed specialized support staff before customers call for help
    • Case study 4 Hippo (Parle product)
      • No vendor management system in place
      • No push sales
      • Generated pull through Twitter
      • “ If you don’t find Hippo, Tweet us, we will reach there”
      • Managing supply chain, product variety through active listening and engagement on Twitter.
    •  
    • Case study 5 Ching’s Secret (Capital Foods Ltd.)
      • Automated alerts setup with the help of tools to track any conversation about brand on web.
      • Responded messages within ‘5 minutes’ between 7 am and 11pm (7 days a week!)
      • 36 people monitor their brand – Food technologists, Chefs, Leadership team, Sales, Marketing, etc.
      • 6 months content database is kept ready!!
    • Challenges
      • 24 x 7 listening
      • Dig / store / create & share content
      • Changes in organizational structure
      • Change in organizational culture / philosophy
      • Combined commitment and enthusiasm towards a central goal
      • Streamline internal and external processes
      • Build community around brand
    •  
    • Takeaway ?
    • Reach Me
      • @anandan22
      • [email_address]