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More Than Just Facebook for Business:  Translating Social Interactions into Actionable Social Intelligence - BDI 3/23/11 The Social Consumer: Case Studies & Roundtables
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More Than Just Facebook for Business: Translating Social Interactions into Actionable Social Intelligence - BDI 3/23/11 The Social Consumer: Case Studies & Roundtables

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Case Study: More Than Just Facebook for Business: Translating Social Interactions into Actionable Social Intelligence...

Case Study: More Than Just Facebook for Business: Translating Social Interactions into Actionable Social Intelligence
Presented by: Alan Nugent, CEO, Mzinga
Business is inherently social—and accordingly, many brands around the world have already embraced social technologies as a way to engage customers and raise brand awareness. But social solutions are more than just Facebook for business. A comprehensive, well-planned social ecosystem can provide enormous benefits that span the enterprise—and can help organizations gain valuable insight into meeting customer needs, improving loyalty, and sustaining and growing revenue.

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  • 1. More Than Just Facebook for Business: Translating Social Interactions into Actionable Social Intelligence Presented by Al Nugent Mzinga CEOMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
  • 2. Today, the pressure on businesses is higher than ever to…MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l 2
  • 3. 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 3
  • 4. 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 4
  • 5. 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 5
  • 6. 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 6
  • 7. So customers are now taking matters into their own hands… . 48% report always or often using an online posting or blog to get other’s opinions about a company’s customer service reputation MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE lSource: American Express Global Customer Service Barometer April 13th – April 20th, 2010
  • 8. Trust moves beyond financial performance (It is the new social currency)Source: 2010 Edelman #1 INBarometer MZINGA l Trust ON-DEMAND SOCIAL SOFTWARE l
  • 9. Customer Experience Solution Use CaseMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
  • 10. The Social Organization Traditional Social organizations Unstructured business processes Transformed business processes that social interactions improve productivity, efficiencies & that streamline communication, Often hierarchal and siloed, but critical enhance relationships, etc. revenue growth to business goals and success Product Mkting Sales Services Corporate Strategy Service s Information Systems Human Resources Finance & AdministrationMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
  • 11. Acquire • Increase Sales Effectiveness Summary • Foster thought Leadership Increase sales team Acquire • Social Sales Insights collaboration and enable more direct target buyer interactions- ultimately reducing sales cycles. Customer Experience Solutions Engage •Customer On-boarding Summary Support Engage •Customer Retention Develop more interactive, •Customer Education mutually beneficial relationships with customers that improve satisfaction & retention. A new model is now essential to meet the Support changing customer Summary • Peer Support landscape… • Social Support Insights Significantly reduce support • Rapid Social Response costs and improve customer response times by making your team readily accessible to customer needs in real time.MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
  • 12. Key proof points Improve customer response times • 36% of consumers prefer using websites to get answers to questions rather than via telephone or email- and 57% are very likely to abandon purchases if they cannot find quick answers to questions. Drive satisfaction, loyalty & retention • Live chat, peer-to-peer forums, just-in-time customer education and direct access to experts help customers get answers questions quickly- improving satisfaction and reducing abandonment. “ We wanted to create an interactive forum where job seekers could find information to further their career goals. It Reduce support costs allows our members to connect • Telephone support costs $6 to $12 or higher per contact. with both our experts and their • Online chat costs only $5 and is 63% more effective, and web- based customer self-service costs just a few cents per contact. peers to plan the next steps inMZINGA* 2010 Forrester ResearchON-DEMAND SOCIAL SOFTWARE l #1 IN l their career path. ” - Michael Harvey, Chief Executive at Monster.com’s CareerOne
  • 13. Social Intelligence Ecosystem Strategic Services Smart Moderation And Content Vibrancy Cloud-based Open Platform Endpoint Analytics Agnostic Role-based ApplicationsMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
  • 14. But how do you measure the value?MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
  • 15. What is Social ROI? Social media Business resultsMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
  • 16. Sample measures that matter Analyze your community PLUS interactions on the social web Benchmark your community to others Analyze your community Your site 1 2 3 (Other sites)  Members  Roles  By role  Content  By industry  Sentiment  Behaviors  By company size  Competitive analysis  By community size  Social graphing  Business intelligenceMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
  • 17. Non-monetary rewards also provide currencies in community engagement Recognition Access Impact • Influence tracking • Community resources • Raise personal & • Badges and tutorials community profile • Code galleries • Informal social • Deliver feedback from • Featured placement networks surveys • Awards and contests • Key executives • Influence product • New features direction • Speaking slots • New products • Drive business • Select groups • Beta versions outcomes • Public events • Provide proof point references • Private events • Incentivize downloads/demos2010 Constellation Research Q4 qualitative survey on community engagement incentivedriversMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
  • 18. Thank you for your kind attention. Q&AMZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l