Telerx Social Media Presentation (Ext) Nov 09

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Telerx Social Media Presentation (Ext) Nov 09

  1. 1. A Brave New World: Emerging Customer Relationships in Social Media
  2. 2. p. 2 Confidential & ProprietaryConfidential & Proprietary 2 Definition of Social Media • Social media supports the human need for social interaction, using Internet- and web-based technologies in order to transform broadcast media monologues (one to many) into social media dialogues (many to many). • It supports the democratization of knowledge and information, transforming people from content consumers into content producers. Social media are media designed to be disseminated through social interaction, created using highly accessible and scalable publishing techniques.
  3. 3. p. 3 Confidential & ProprietaryConfidential & Proprietary 3 The Revolution of Social Media Are you wondering what the impact of Social Media will be on your company? http://www.youtube.com/watch?v=sIFYPQjYhv8
  4. 4. p. 4 Confidential & ProprietaryConfidential & Proprietary 4 Social Media Opportunities Social Media Options Paid placement in major social networks • MySpace • Facebook • YouTube Monitoring social media • Blogs • Forums • Search engines Content development • Videos • Widgets • iPhone Apps Social book-marking campaigns Link baiting Reputation management Drill down and identify the specific “social media” service offering that will deliver the best ROI for your particular business model and your particular business climate. Challenges Timely monitoring of consumer opinions Analyzing impact on brands and products Identifying online influencers Tracking potentially harmful issues Managing public relations crises Voice of the Customer – 360° view Developing a strategy to interpret, trend, and analyze • 9% of web users produce 80% of all user- generated content • 26% of top search results for the world’s 20 largest brands is consumer-generated (Jupiter Research) • 75% of Internet users research health (The Neilson Company) − 68% male − 81% female
  5. 5. p. 5 Confidential & ProprietaryConfidential & Proprietary 5 Social Media Top Findings 59.1% of respondents use social media to “vent” about a customer care experience 72.2% of respondents research companies’ customer care online prior to purchasing products and services 84% of respondents consider the quality of customer care in their decision to do business with a company 74% choose companies/brands based on others’ customer care experiences shared online 81% believe that blogs, online rating systems and discussion forums can give consumers a greater voice regarding customer care
  6. 6. p. 6 Confidential & ProprietaryConfidential & Proprietary 6 Entering the Social Media Revolution What to look for in a listening platform: • Set up and configuration of listening tools • Monitoring processes including analyzing data, extract concepts, and identify sentiment • Analytics capability such as dashboards, reports, alerts, and external integration • Multiple information sources and geographies/languages • Consulting and analysis services including influencer analysis, new product development, and market segmentation • Market strategy – make sure that they can clearly articulate how they intend to move from passive brand monitoring to active listening • Market presence and strength of company • Open API for data integration capabilities • CRM integration • Multi-tenancy • Engagement workflow Forrester defines listening platforms as: A technology and analytics infrastructure that mines a wide variety of traditional, online, and social sources to extract and deliver insights that shape a firm’s marketing strategy.
  7. 7. p. 7 Confidential & ProprietaryConfidential & Proprietary 7 Leading Social (Web 2.0) Software Vendors Evaluation Criteria – Requirements Leading software vendors: • TNS Cymfony • Techrigy SM2 • Radian6 • Nielson Buzz • Visible Technologies • Number of customers • Csat • References provided • Number of support resources • Number of consulting resources • R&D as % of revenue • Geographic reach • Project plan provided • Product roadmap • Can the solution support direct outreach engagement? • Filtering • Automated sentiment • Triage • Manual sentiment • Task assignment • CRM integration • Audit trail • Open standards • User identification • Open API • Multi-tenancy: separate client data with single sign in • Engagement workflow • Respond through desktop • Monitor blogs, forums, Facebook, MySpace, Twitter, consumer satisfaction sites • Number of sites monitored
  8. 8. p. 8 Confidential & ProprietaryConfidential & Proprietary 8 Leading software vendors: • TNS Cymfony • Techrigy SM2 • Radian6 • Nielson Buzz • Visible Technologies • Number of blog comments – how far back, how deep • Capture verbatims • What demographics are captured about poster? • Languages supported • Data extract for integration with other channel data • Sentiment analysis method • Ranking of blogs based on influence, reach, etc. (including profiles/psychographics of key bloggers) • Historical data retrieval – how far back? • Selectively respond to and track posts (customer service related, etc.) • Audit trails • Time delay in posting mentions from web to solution • Filtering and segmentation • Influencer analysis • Workflow and engagement management • Social CRM and web analytics integration • Flexible commercial models • Market presence Leading Social (Web 2.0) Software Vendors Evaluation Criteria – Requirements
  9. 9. p. 9 Confidential & ProprietaryConfidential & Proprietary 9 What’s Missing? Accurate identification of of sentiment and influence Product roadmaps that integrate into other tools to provide a multi-channel approach to the voice of the consumer Consulting and analytical services to take the data from multiple sources and apply the insights generated to drive better business decisions across their organizations
  10. 10. p. 10 Confidential & ProprietaryConfidential & Proprietary 10 Telerx Engagement & Analytics Model Telerx 360º Customer Experience Data Texting Social Media POS Web Self Service Chat Phone eMail Social Media Interaction Agents Traditional channel-based agents [phone, email, chat, text, web] Telerx Client Public Relations Brand Teams Consumer Affairs Customer Service Analysis & Insight Monitoring/Listening/Engaging Telerx Business Analyst Data mining Telerx Community Manager
  11. 11. p. 11 Confidential & ProprietaryConfidential & Proprietary 11 Should I think about engagement? You may not have a choice! http://www.youtube.com/watch?v=YhXzM70CNrw&feature=player_embedded One Social Media Interaction Can Reach a Multitude of Consumers!
  12. 12. p. 12 Confidential & ProprietaryConfidential & Proprietary 12 Enter the Conversation: Steps to Successful Social Media Planning Determine business objectives and key metrics • What are you looking to achieve? • What metrics will help you understand your Social Media position and landscape? Research social media landscape • Benchmark current Share of Voice (SOV) • If the competition is using Social Media, who is successful, who isn’t, and why? Identify key influencers • Bloggers, forum writers, etc. Prepare for the worst, expect the best • Defined rules of engagement • Training (technology and service) • Defined workflow Trust is paramount • Ask permission • Proceed with caution • Be forthright about your brand identity • Engage and interact • Commit to the medium • Be willing to adapt
  13. 13. p. 13 Confidential & ProprietaryConfidential & Proprietary 13 Who Is The Social Media Audience? Non Active: Those who are no longer using SM Watchers: Those watching YouTube, reading blogs, downloading podcasts Sharers: Those using social networking sites, tagging online content Commenters: Those who have rated a product, service or person Producers: Those creating or working on a blog or wiki Curators: Those editing a wiki or moderating a forum
  14. 14. p. 14 Confidential & ProprietaryConfidential & Proprietary 14 Social Media Rules of Engagement Word of Mouth Marketing Association (WOMMA) Code of Conduct: Consumer protection and respect are paramount • Don’t retweet or forward messages without authorization from the consumer The honesty ROI: Honesty of relationship, opinion, and identity We respect the rules of the venue We manage relationships with minors responsibly We promote honest downstream communications We protect privacy and permission in a campaign
  15. 15. p. 15 Confidential & ProprietaryConfidential & Proprietary 15 Social Media Rules of Engagement (continued) Combination of Guidelines and Policy Around: Work-related and personal blogging Conduct Friending and following rules Confidentiality Identity Quality of post Conduct No obscene or abusive language can be used You should not engage in any inappropriate discussion while on-line Always be truthful Never ask a blogger to write a fake endorsement Never go off topic to promote something of personal use Copyright Always use a link to the original material if referencing Abide by copyright laws
  16. 16. p. 16 Confidential & ProprietaryConfidential & Proprietary 16 Specific Rules of Engagement Template When to Engage: Media Request: Adverse Event: Sponsorship Request: Product Suggestions: Recalls: Empowerment: Need to define the level of empowerment CSR will have
  17. 17. p. 17 Confidential & ProprietaryConfidential & Proprietary 17 Best Practice for SM Response – The Five T’s 1. Transparency – always disclose your connection to the company in any social media engagement 2. Third Party – Cite additional sources rather than company-produced data 3. Timing – Take time to formulate responses but respond within a day - a delicate balance 4. Tone – no “corporate speak” or marketing jargon. Speak in the tone of the blog 5. Traffic – Focus on the most influential blogs. Research shows they carry the greatest WOM impact Assess the Blog Site Assess Blog Post Develop a Response Avoid response to the Specific post..continue to monitor Respond with fact-based Information via blog comments Rectify situation, respond & Take action (e.g. replace Defective product) Use judgment based on topic, blog influence, blogs audience Source: Corporate Executive Board, 2007 Negative post Identified Yes Yes Yes Yes No No No No Is the site a “hate site” for bashing brands? Is the post a rant, immature Joke or ridicule? Is there a factual error in The post? Was the post a result of A negative experience?
  18. 18. p. 18 Confidential & ProprietaryConfidential & Proprietary 18 Who Should Engage? You May Have More Talent and Expertise Than You Realize… Identify existing talent and skills within your organization Telerx survey overview • 68% participation • 66% of participants indicated they used social media. • Top three types of social media by participant: – Social Networking (Face book, Myspace) – Video Sharing (YouTube, Stickam) – Wikis (Wikipedia, PBwiki) • 73% - spectators • 44% - joiners • 10% - collectors • 2% - administrators of a site • 6% - creators of content. • Weekly usage: – 32% - one hour or less a week on average – 20% - two hours or less – 5% - twenty hours or greater • Twice as many individuals use social media for personal use over business use.
  19. 19. p. 19 Confidential & ProprietaryConfidential & Proprietary 19 The Rules Are Changing…Be Informed Establish resources to work closely with the FDA or other regulatory agencies as they continue to fine tune the guidelines Make sure you know what type of activities are occurring across your organization and develop a council to keep stakeholders educated • Marketing • Corporate Relations • Legal • Regulatory and Safety Key legal concerns: • Adverse Events • Fair Balance • Privacy • Trademark and Copyright Protection • Transparency
  20. 20. p. 20 Confidential & ProprietaryConfidential & Proprietary 20 Now I’m Engaged… How Do I measure ROI? Traffic Interaction Sales Leads Search Marketing Brand Metrics PR Customer Engagement Retention Profits • Source: Econsultancy – Chris Lake
  21. 21. p. 21 Confidential & ProprietaryConfidential & Proprietary 21 Direct and Indirect Return on Investment and Branding Marketing ROI for unnamed personal care brand – compared purchases amongst shoppers not exposed to the campaign with purchases among those who were • Total consumer exposure: 76.9 million • Percent of internet population was 40% at the time of promotion • Total impressions: 1.1 billion • Media outlay: 1 million • Offline sales generated from the campaign: 1.21 million • ROI: 28% (does not even include repeat sales from consumers exposed to the brand) Well Documented Stories • Domino’s Pizza: Wayward employees – from potential PR nightmare to the opportunity to do what’s right • Zappos: Creating a culture of service right from the start and how social media can be used by any level of the organization
  22. 22. p. 22 Confidential & ProprietaryConfidential & Proprietary 22 Interactive Session-Information Sharing Best Practices associated with building online relationships Tools and methods in order to support this new channel How to leverage direct (through your contact center) and indirect (social media) consumer feedback in order to create meaningful insights throughout your organization
  23. 23. p. 23 Confidential & ProprietaryConfidential & Proprietary 23 Thank You for Your Time Michael Ewing VP of Business Development Phone: 661-297-5443 Email: michael.ewing@telerx.com www.telerx.com

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