Social CRMA process to monitor, engage and manage conversations and relationships with existing and prospective customers and influencers across the Internet, social networks and digital channels.Or another way to look at it:Social CRM is the process of converting content into conversations and extending these conversations into collaborative experiences and then transforming those experiences into meaningful relationships.Martin WalshDraft Ver 1.1

Social CRM BenefitsSales teams can now be equipped with significantly more relevant information about their customers through an integrated view of their customers online conversations combined with website analytics and existing CRM activity history.Marketing teams can now meet prospects at their point of need, connecting much earlier in the buying process with real-time listening and monitoring of online conversations. Marketers can also gain a greater insight into the behaviour, sentiment and effectiveness of their marketing and communication efforts which in turn can help them define and refine their creative, messages and channels.Product development teams can engage and collaborate directly with customers throughout the development phases from the simple generation of ideas through to design, prototyping and testing which can build significant advocacy and positive word of mouth. Companies like Dell actually encourage, facilitate and solicit new product ideas directly from their customers and ask other customers to rate these ideas. Ducati designs and develops motorcycles in collaboration with its customers and fans via forums, communities, contests and polls.Customer service teams are now empowered to provide memorable a service by proactively responding to customers on the customers terms, equipped with an integrated view of their entire interaction, engagement and conversation history.Community and social media teams are provided with context for their outreach and engagement efforts.Martin WalshDraft Ver 1.1

How does Social CRM work?Social CRM is achieved through the integration of web analytics, social media / conversational analytics and other CRM relationship management analytics to determine and articulate social media ROI. *For example Radian6 with WebTrends and SalesForceCRM.Marketing, community, social media, customers service and sales teams can now map their word of mouth or social media initiatives directly to success events and end actions (click-throughs, purchases and conversions) on a website or other digital channels and view a customers online activity and performance through the lens of social media. Organisations will be able to:Compare which types of social media and communities are most effective in generating positive word of mouth, resulting in desired actions on your website or other digital channelMeasure the direct benefits of customer advocacy and quantify the value of engaging customers and influencers online and through digital channelsCalculate the ROI of content marketing and outreach efforts by connecting associated social media conversations to website traffic, downloads, conversion or sale or other desired actions.Martin WalshDraft Ver 1.1

Social CRM More BroadlyI believe that Social CRM and traditional CRM should be called Individual Lifecycle Marketing (ILM) and these disciplines should be closely associated with Customer Experience Management.The world has now shifted from an era of information asymmetry to a new era of information democracy. In the era of information asymmetry customers were mainly educated by companies and organisations, their solution providers, partners, retailers, analysts and the media. These companies and organisations were able to tightly control the information and image about themselves, their products, brands and services as the channels were simply broadcasting the marketing monologue. Marketing was command and control. But in todays era of information democracy customers can educate themselves over the Internet and digital channels, through their connections in social networks, blogs, micro blogs, discussion forums, chat and much more. Marketing is now a dialogue.Prospective customers can now talk with existing customers and customers are now so well educated that the influence from traditional sales, advertising and marketing has become more negligible.Martin WalshDraft Ver 1.1

We have seen the rise of information democracyFrom information asymmetry...Information was scarce Customers were ill-informedExchanges were monologuesMarketing was “command-and-control” … To information democracy Information is ubiquitousCustomers are well-informedExchanges are conversations Marketing is “connect-and-collaborate” Draft Ver 1.1Martin Walsh

Why Social CRM?Traditional CRM - typically a one dimensional corporate interaction that provides processes, services and technology to customer facing departments like sales, marketing and customer service is no longer a viable discipline.Customer expectations and behaviour have fundamentally shifted as the world moved from the era of information asymmetry to information democracy with the advent of the Internet and other digital channels.Marketers must recognise that there is now an active participant ecosystem which provides empowered customers - who are interested in making their own choices – the ability to interact with organisations when and how they choose. Conversely, customers are now more accessible than ever before and companies are able to connect and provide – if they so choose – a remarkable and more personable customer experience by listening to their customers and reaching out to them through online and digital channels.Martin WalshDraft Ver 1.1

The Marketing FunnelIsn’t Linear(hell, it’s not even a funnel)Martin WalshDraft Ver 1.1

Traditional Marketing Models Fail to Model Complex Buying Paths Traditionally, marketers modeled customers’ decisions as they progressed from awareness through consideration, preference, action, and loyalty — through what is called the marketing funnel. The marketer’s job was to move people from the large end down to the small end. But now it’s time for a rethink, as the funnel has outlived its usefulness as a metaphor. Face it: Marketers no longer dictate the path people take, nor do they lead the dialogue. We must rethink the marketing funnel because:Complexity reigns in the middle of the funnel.The most valuable customer isn’t necessarily someone who buys a lot.Traditional media channels are weakening.Consumers force brand transparency.Martin WalshDraft Ver 1.1

Complexity reigns in the middle of the funnel.

The most valuable customer isn’t necessarily someone who buys a lot.

Traditional media channels are weakening.

Consumers force brand transparency.

Traditional Marketing Models Fail to Model Complex Buying Paths Complexity reigns in the middle of the funnel. Awareness is still important; you need to know that a product or service exists in order to buy it. And the marketer’s endpoint is still a transaction. But, in between, other factors such as recommendations from friends or family, product reviews, and competitive alternatives described by peers influence individuals. The funnel’s consideration, preference, and action stages ignore these forces that marketers don’t control. Rather than a clean linear path, the real process looks more like a complex network of detours, back alleys, alternate entry and exit points, external influences, and alternative resources.The most valuable customer isn’t necessarily someone who buys a lot. In this socially charged era in which peers influence each other as much as companies do, good customers can’t be identified solely by their purchases. Companies also need to track individuals who influence others to buy. For example, a customer who buys very little from you but always rates and reviews what she buys can be just as valuable as someone who buys a lot — her reviews might influence 100 other people to buy your product. Tracking only transactions and loyalty at the end of the funnel misses this significant element of influence.Traditional media channels are weakening. Marketers continue to use mainstream media messages to move consumers into a consideration frame of mind. But passive consumption of media is waning. Individuals dismiss or ignore marketing messages in lieu of information available from an ever-increasing number of resources, such as product review sites, message boards, and online video.Martin WalshDraft Ver 1.1

Today’s Complex Buying Paths Marketing complexity means that traditional methods and metrics fail to address and capture the whole story. Online metrics like unique visitors to a Web site, number of pages viewed, and time spent per page mimic offline media metrics of reach and frequency. But traditional marketing and traditional measurement doesn’t address or indicate the engagement of an individual; they fail to address or capture the sentiment, opinion, and affinity a person has towards a brand as manifested in ratings, reviews, comments in blogs or discussion forums, or the likelihood to recommend to a friend.Martin WalshDraft Ver 1.1

Social media – The conversation prismMartin WalshDraft Ver 1.1

Engagement: A New Perspective on MarketingIf the funnel no longer accurately reflects what marketers can influence, why do they still cling to it? Because they can measure it, which is reassuring, even if it no longer accurately reflects the real buying process. And, of course, there are no useful alternatives.We believe that marketers need a new approach to understanding customers and prospects. This new type of measurement — engagement — encompasses the quantitative metrics of site visits and transactions, the qualitative metrics of brand awareness and loyalty, and the fuzzy areas in the middle best characterized by social media.Martin WalshDraft Ver 1.1

Marketing Needs to Shift Focus from Low Value Broadcast Campaigns to High-Value Timely & Relevant Programs Draft Ver 1.1Martin Walsh

Traditional Marketing ApproachGood at:Helping you better target your marketingPredicting response ratesOptimizing spend by reducing marketing wasteUnderstanding buying modalities Not so good at:Answering the “When” questionLending itself to automationDraft Ver 1.1Martin Walsh

Helping you better target your marketing

Predicting response rates

Optimizing spend by reducing marketing waste

Understanding buying modalities

Answering the “When” question

Lending itself to automation

Good at:Identifying new sales opportunities and changes in behaviorImmediately triggering a marketing responseBuilding program equity through automationNot so good at:Understanding the entire customer contextReal-Time Marketing ApproachDraft Ver 1.1Martin Walsh

Identifying new sales opportunities and changes in behavior

Immediately triggering a marketing response

Building program equity through automation

Understanding the entire customer context

No Shrugging Shoulders: Move More Marketing Real-TimeDraft Ver 1.1© 2009 Martin Walsh

Who am I?I am an award winning producer and Digital Marketing Director and I have built asuccessful marketing career spanning more than 21 years across the media, games,technology and entertainment industries.In addition to my professional career I am also in the process of developing a variety of Australian feature films, ARG’s (Alternate Reality Games) and video games in addition to a movie version of my award winning and critically acclaimed Battle of Long Tan documentary.I specialise in global strategic digital marketing, digital engagement, social media & social influence marketing, search engine marketing, digital PR / online reputation management and online analytics. I have been instrumental in developing and executing strategies and programs geared towards changing, transforming & innovating marketing, product development, customer service and customer engagement at a local and global level.I successfully grew the ecommerce division of a large Australian media & entertainment company from less than AUD$22 million in annual turnover to more $AUD700 million in annual turnover in under 5 years. I have held senior marketing roles across Tabcorp, News Corporation, BMG, Village Roadshow and Telstra and I have led Digital Marketing @ Microsoft since 2005.I hold post graduate qualifications in Entrepreneurship and Innovation from Swinburne University and I have also served in 2 Commando Company, 1st Commando Regiment, Australian Army Reserve.Martin WalshDraft Ver 1.1

Thank you!mwalsh@reddunefilms.comtwitter.com/martinwalshwww.reddunefilms.comSources: Radian6, WebTrends, Responsys, CRM 2.0 wiki, Forrester, Brent Leary, Brian SolisMartin WalshDraft Ver 1.1