CRM Timelime…. Today CRM On-demand Social CRM Browser based Early 2000s Contact Mobile CRM Management Handheld Individual usage Accessible from anywhere PC based Mid 1990s CRM Suites SFA, MA, CSS: Workgroup Server basedEarly 1990s
Information Overload 5M Terabytes of web info (Eric Schmidt – Google CEO – 2005) Before… Facebook opened up Twitter was born New generation of mobile devices Blogs from 20M to …BrentLeary.com
200 Million The number of blogs on the Internet.Source: Jess3
2 Billion Videos Are Streamed Each Day On YouTubePhoto Credit: jonsson Source: Techcrunch
10 Billion+ Tweets Sent on Twitter Since 2006Photo Credit: Rosaura Ochoa Source: Mashable
By 2020, the amount of data will have grown 44-fold, to 35 trillion gigabytesPhoto Credit: Rosaura Ochoa Source: Mashable
Social Media is for Leads and Sales Source: State of Inbound Marketing Report - http://bit.ly/aewfHr
Business Use of Social Media Expectations -Among business owners who use/may use social media- Jan 2011 (n=184) 9% 45% 36% Dec 2009 (n=89)* 12% 58% 26% Exceeded expectations Met expectations Fallen short of expectations State of Small Business, Network Solutions – 2011BrentLeary.com
Marketing & Innovation Challenges Small Business Success Report Card Importance Index Grade Score** Score* OVERALL INDEX SCORE* 73 C- Sub-Indices Capital Access 33 67 D+ Marketing & Innovation 23 65 D Workforce 14 76 C Customer Service 11 88 B+ Computer Technology 11 75 C Compliance 8 92 A-*Index Score is calculated on a 0-100 scale**Importance Score is calculated proportionally, meaning that the total of thenumbers across all the sub-indices is 100%. State of Small Business, Network Solutions – 2011BrentLeary.com
Comparison of Ad Hoc and Strategic Users: Track andMeasure Social Media Small Business Sample Size = 24524.) How does your currently track, analyze and measure the success of the companys social media efforts?
How Satisfied Are SMBs with the Results they Are Achieving from Social Media in these Areas? Small Business Structured Users Very Satisfied Satisfied Neutral Dissatisfied Very Dissatisfied Generate more web site traffic 11% 26% 21% 4% Generate new leads and/or sales 9% 28% 19% 4% Connect with people who arent customers 8% 28% 15% 6% Improve market awareness for the company 8% 29% 20% 2%Create more/better interaction with customers/prospects 12% 27% 14% 3% Monitor and enhance and enhance company reputation 8% 22% 18% 2% Improve service/support and customer retention 8% 24% 15% 3% 0% 10% 20% 30% 40% 50% 60% 70% Sample Size = 131 % Sample Size Ad Hoc Users Very Satisfied Satisfied Neutral Dissatisfied Very Dissatisfied Create more/better interaction with customers/prospects 5% 19% 8% 5% Generate new leads and/or sales 3% 11% 19% 4% Connect with people who arent customers 5% 14% 11% 5% Improve market awareness for the company 4% 12% 15% 3% Generate more web site traffic 3% 11% 14% 4% Monitor and enhance and enhance company reputation 4% 13% 9% 3% Improve service/support and customer retention 4% 13% 9% 1% -10% 0% 10% 20% 30% 40% 50% 60% 70% Sample Size = 114 % Sample Size
Received an average of 10,000 e-mailseach month from customers asking aboutmotorcycle parts•Blog: Tie Facebook & Twitter posts, Newsletterarticles, and customer correspondence back to theBlog.•Facebook: All blog articles are posted onFacebook, Twitter and Newsletter articles.•Monitoring Networks: Monitor online activity, aswell as competitors, vendors, and industryhappenings.•Monthly Newsletter: The monthly newsletter isjust another way to provide value to customers, andis closely tied to all forms of social media.
Received an average of 10,000 e-mailseach month from customers asking aboutmotorcycle parts•Membership on Facebook has gone from 1,500fans (12/09) to over 27,000 fans.•1,000% increase in on-line chat traffic (customerswho chat are 4 times as likely to make a purchaseon the site).•98% of customers say they‟d recommend thecompany to a friend/family member
Traditional CRM FIND CATCH Marketing CUSTOMER Sales Automation Automation RELATIONSHIP MANAGEMENT • Lead management • Opportunity management • Campaign management • Contact management • Customer profiling • Activity management KEEP • Ongoing dialog Customer • Web self-service Service • field service
CRM or CIM? Customer Information Mgmt Traditional CRM Strategy Focus Centralize Customer Data Operational Efficiency Forecasting Activity Management Reporting But What About THE CUSTOMER???
Defining CRM… Socially Relationships Exchanges Information Customer Partner GENERATE CONVERT TO CREATING CONVERT TO Confidence FEED TO VendorContent Conversations Influencer Sales process Community Analyzed to determine success
What is Social CRM? “Traditional CRM grew out of this need to store, track, and report on critical information about customers and prospects. Social CRM is growing out of a completely different need -- the need to attract the attention of those using the Internet to find answers to business challenges they are trying to overcome.“ --Brent Leary in Inc. magazine Page 25
SOCIAL CRM LISTENING CONTENT Automation SOCIAL Automation CUSTOMER RELATIONSHIP MANAGEMENT TRANSFORM COMMUNITY Management Facilitation
Embracing CMR: Customer Managed Relationships “the challenge is that most companies have been wired from the ground up to operate in a world of company- controlled communication, and theyre simply not equipped to engage in conversations. But, the rules have changed.” The good news is that true Social CRM Greg Gianforte, CEO – RightNow offers companies a seamless and real-time view across the many different channels that customers converse in, new and old alike. With this view, companies can truly get to know and proactively care for their customers, ultimately fulfilling their brand promises, the social way 28
Customer Service Moves toForefront “2011 will bring an impressive increase in the amount of customer service delivered over social networks. Not only will more companies provide service over social channels, but socially-networked customer service will take its place alongside sales and marketing as a cornerstone of any comprehensive Social CRM strategy.” Alex Bard, CEO – Assistly.com In our view, social customer care will no longer be an afterthought or an adjunct to Social CRM; it will sit squarely at the core of business strategy alongside other forms of customer interaction. 35
36 Social Customer Engagement Index 2011- TheSocialCustomer.com
Social Media Customer Care Maturity Model Level Proactive Proactive Customer Care Social Media Business 5 Engagement Proactive Sales Intelligence Level Social Media Scalable engagement process Managed process 4 Customer Care Teams work queues Team activity reports Level Social Media Social Media strategy Brand dashboarding 3 Marketing Engagement marketing Minimal customer care involvement Level Social Media Facebook page and Twitter presence 2 Broadcasting Broadcast standard marketing via social media Level Listening Occasional reporting 1 (or ignoring) Reactive/surprised by social media Cisco, 2010
Drugstore.comUsing Chat function (what Drugstore.com calls „Chat with a BeautyAdvisor‟) from both of its Twitter Accounts (@BeautyAdvisor and@ Beautydotcom). As a result: • Phone-handle time has decreased 15 percent • Email volume has decreased 30 percent • Shopping-cart sizes in sales with chat are 10 percent to 20 percent larger than in those without; • Chat sessions deliver a conversion rate of approximately 25 percent; the site‟s overall conversion rate is just 6.4 percent Third-quarter sales grew 17 percent, compared to 2 percent growth in e-commerce overall Customer satisfaction scores reached 77, among ForeSee Results‟ list of the top 15 online retailers
Ask NOT What Your Customer Can Do For You… LaaS: Listen as a Strategy •Who to listen to •What to listen to •What to listen for •How to listen •When to listen •Responding to what you hear… Listen to What You Can Do FOR Them!
One of the main goals in using social mediais to actively listen to the customers. Andbecause all users were automatically invitedto the team‟s NBA Draft Party, Warriorsemployees had the chance to personallymeet those who participated in the contest.The Draft Party wound up being the team‟sbiggest to date, with over 4,000 fans inattendance. •Unveil the new logo in a unique and creative way •Increase fan engagement with the brand •Build brand loyalty •Drive awareness and attendance at the team‟s annual NBA Draft Party •Increase ticket and merchandise sales
Increased Followers/Reacha. 2,500 new Facebook fans in 2weeks (Over 100,000 new fans sinceJune 1)b. Challenge Page received 900 „Likes‟in 2 weeksc. 1,500 new Twitter followers in 2weeks (Over 12,000 new followerssince June 1)d. Total Twitter reach of more than120,000 in 2 weekse. Over 12,000 views of two relatedYouTube videos in 2 weeks Cost: Less than $5,000 Return: Over $440,000 Long Term: Continued growth and engagement
Social Listening AND Engagement GoMainstream Moving beyond the early adopters, we will see a majority of companies in 2011 start their investments in social listening and engagement, and we will also see many leading brands demonstrate what an enterprise wide social strategy looks like and showing us the power of getting the voice of the customer Marcel LeBrun, CEO closer to every employee.. Radian6 As social becomes an integral channel, and as insights on who matters, and who doesn’t become quantified, handling this efficiently becomes of paramount importance. 43
Listening Makes A Difference The Social Customer Engagement Index, 2011
Key Listening Scenarios Brand reputation and risk Campaign metrics and management benchmarking Early warning for product and Measure message reach service issues Competitive tracking Monitor conversation trends “Voice of Customer” insights Community and influencer Reveal community themes outreach for message planning Response to customer Locate where relevant feedback conversations are taking place Influencer identification
BRAND LISTENING MONTHLY REPORT EXECUTIVE SUMMARY XYZ Brand positive sentiment at 84%, down 4% from last month • XYZ appoints former PDQ CEO John Doe highly questioned • XYZ extends the "maintenance duration" for software from Dec. 31, 2010, to March 31, 2013 Sentiment XYZ iPad deployment spikes positive sentiment at 88% • World‟s largest enterprise iPad rollout: XYZdeploys 1,000 iPads to employees, favorably viewed Nearly 50% of all brand conversation focused on three topics of HHH, new ceo implications for XYZ, and XYZ “Super App” 39% of all solution conversations around Super App reviews XYZ continues to make promises, but fails to reveal specifics for 2010 Volume Mobile Sales "Super App“ widely discussed by industry XYZ brand share of voice increased 1% vs. competitive set this month Key competitor topics driving SOV MMM hires former DD CEO Adam Smith JJJ announces “Power App at JJJ Supercon”Share of Voice TTT unveils Social Mobile Outsourcing cloud is a rising theme of conversation on industry blogs Belief that XYZ and competitors are in good positions to be deliverers of cloud-based services, changing the landscape of outsourcing as we know it Industry discussion around “the new age of highly integrated and optimized systems Themes MBI and JJJ are seen as leaders of this space by analysts/ industry bloggers
Strategic approach to mainstreamingsocial data ““The #1 use case we’re seeing of late is the triaging, prioritization, automation and routing of customer tweets, status updates, and other information across the enterprise. As social becomes an integral channel, and as insights on who matters, and who doesn’t become John Bastone, Global Product quantified, handling this efficiently Marketing Manager, SAS becomes of paramount importance. 47
Open and Collaborative Integrations with other applications are driving the decision-making of CRM consumers. Small businesses especially need a CRM solution that will seamlessly share information with their accounting, event planning, marketing and other business tools no matter where they are working: online, offline, in social networks or on mobile systems. Social media is rapidly increasing inbound Pamela O’Hara and outbound communication channels. For President, BatchBlue Social CRM, this means following threads of conversations across live chat to Twitter to the phone and involving the right responders -- whether thats customer support, the tech team or the marketing director.. 48
It will be Mobile In 2011, once again, mobile CRM – though more and more incorporating social profiles and features - will become the “thing”. It could be field service or consumer based mobile marketing applications or location based sales/marketing tools for customers or smart tools for your sales teams in the field. But it will be mobile. Practitioners are going to increasingly demand better knowledge management Paul Greenberg tools from vendors as the practitioners Author, CRM Playa #1 realize that their customers – their social customers – are not only demanding greater transparency which translates into more knowledge about the company 49
SMB Case Study: HubspotExperiential Adoption Funnel
SMB Case Study: HubspotExperiential Adoption Funnel
The Subscription Economy We think years from now businesses will find themselves buying less and less products, and subscribing more and more to services, whether software services [like] Google applications, or transportation services like a Zip car, or computing power from Storage, or collaboration from Box.net. We think the world is Tien Tzuo, Founder, Zuora shifting to a subscription-based economy.
No Website Model…In The Facebook Era We decided, not only do we want to practice what we preach, but it‟s the right move for the company strategically. Our customers are already on Facebook, LinkedIn and Twitter; that is why they come to us in the first place. What better way to serve them than in a highly targeted personalized and social environment? Clara Shih, CEO – HearSay I think [social media] Author, The Facebook Era pages are the new websites, especially if you are a small or midsized company.
Community-based customer support can offersignificant cost savings, as well as other benefits Cost per contact $ per contact Benefits beyond direct *-100 Support cost savings community ▪ Increase customer 90%+ less satisfaction and loyalty costly than ▪ Drive increased revenue 2.5 2.5 phone (e.g., through recommendations) 1.9 ▪ Increase productivity of support staff with knowledge base created 0.7 0.3 by community ▪ Identify issues early on with new products Phone/ Email Web IVR On-line Customer ▪ Get inputs for future click to chat self- Communities products call service SOURCE: Gartner/Avaya, Linksys; McKinsey analysis
The Customer Experience is Social Competitor A Competitor B Friends of Social Your Your Your Your Friends Influencers Community www Contact friends web www Site Site Center Brand Competitor C Earned Hosted Owned Relationships Conversations Processes
Privacy concerns will intensify Companies will struggle with the privacy issue. We’ll begin to recognize the power of being able to "connect the dots" with respect to people and their online profiles and see some creative business applications. But, this power will make consumers increasingly uncomfortable (as evidenced by the recent news around Sony, Epsilon, etc.) Well learn that success in social media is Dharmesh Shah, Co-founder not about auto-pilot (the troubling example Hubspot being all the auto-follow twitter software out there), but about power-steering. Well start to see tools that dont replace genuine conversations and connections -- but just make the process easier and take some of the manual labor out. 64
Expectations of the Social Customer 93% of Americans believe a companyshould have a presence in socialmedia 85% believe a company should notonly be present but also interactwith its consumers via social media 56% of American consumers feelboth a stronger connection with andbetter served by companies whenthey can interact with them in asocial media environment. 2008 Cone Business in Social Media Study