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Gen Y first generation to spend more time on the ‘Net than watching TV
Implications for marketing staggering
40% of Gen Xers do research online
Only 10% of seniors
The Social Customer?
Source: A Typology of Information & Communication Technology Users – Pew Internet & American Life Project The Social Customer? Group Name Adult Pop. % Age Group Elite Tech Users 31% 20s - early 40s Middle-of-the-Road Tech Users 20% 30s – late 40s Few Tech Assets 49% 50s – 60s+
“ CRM is a philosophy & a business strategy, supported by a technology platform, business rules, processes & social characteristics, designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted & transparent business environment. It’s the company’s response to the customer’s ownership of the conversation.” CRM 2.0
Source: CRM 2.0 Wiki (http://crm20.pbwiki.com) CRM 1.0 Features/Functions CRM 2.0 Features/Functions Customer facing features - sales, marketing & support. Still isolated from back office, supply chain Fully integrated into an enterprise value chain that includes the customer as part of it Tools are associated with automating functions Integrates social media tools into apps/services: blogs, wikis, podcasts, social networking tools, user communities Automate interaction history for lead nurturing and relationship building Utilize knowledge in context to create meaningful conversations Models customer processes from the company point of view Models company processes from the customer point of view Recognizes that the customer relationship encompasses information-seeking and information-contributing behavior Resided in a customer-focused corporate business ecosystem Resides in a customer ecosystem Utilitarian, functional, operational All those plus style and design matter Marketing focused on processes that sent improved, targeted, highly specific corporate messages to customer Marketing is front line for creating conversation with customer - engaging customer in activity and discussion - observing and re-directing conversations among customers Business produces products & creates services for customer Business is an aggregator of experiences, products, services, tools and knowledge for the customer Intellectual Property protected with all legal might available Intellectual property created and owned together with the customer, partner, supplier, problem solver Business focus on products and services that satisfy customers Business focus on environments & experiences that engage customer Tactical and operational Strategic Customer strategy is part of corporate strategy Customer strategy IS corporate strategy Innovation from the designated Innovation from both internal and external sources Focus on Company <> Customer Relationship Focus on all iterations of the relationships (among company, partner(s), customer(s)) and specifically on identifying, engaging and enabling the "influential" nodes Company manages the relationship with the customer The customer collaborates with the company Technology focused around operational aspects of sales, marketing, support Technology focused on both the operational and the social/collaborative and integrates the customer into the entire enterprise value chain Relationship between the company and the customer was seen as enterprise managing customer - parent to child to a large extent Relationship between the company and the customer must be peer to peer (C2P or P2C so to speak) and yet the company must still be an enterprise in all other aspects. Definition is: CRM is a philosophy & a business strategy, supported by a system and a technology, designed to improve human interactions in a business environment Definition is: CRM 2.0 is a philosophy & 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 & transparent business environment. It's the company's response to the customer's ownership of the conversation. Insights and effectiveness were optimally achieved by the single view of the customer (data) across all channels by those who needed to know. Based on "complete" customer record and data integration Insights are a considerably more dynamic issue and are based on 1. customer data with single view being important; 2. customer profiles and the social characteristics associated with them 3. customer participation in the activity acquisition of those insights
Author: CRM at the Speed of Light (4th Edition, February 2009) President: The 56 Group, LLC Managing Partner/CCO: BPT Partners, EVP: National CRM Assn. Co-Chair: Rutgers CRM Research Center Named #1 CRM Influencer (Non Vendor) by InsideCRM 2007 Named #1 CRM Blogger 2005, twice in 2007 by TechTarget and InsideCRM CRM Magazine 2008 Top Influencer PGreenblog: http://the56group.typepad.com Email: [email_address] Twitter: http://www.twitter.com/pgreenbe Cell phone: 703-551-2337 THANK YOU