CRM Going Social - A Journey
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CRM Going Social - A Journey

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HGS Interactive is a partner agency for Subrat Bisht and specializes in Digital CRM. In this presentation HGSI has debunked the myths around social crm and shared valuable Insights. For more case ...

HGS Interactive is a partner agency for Subrat Bisht and specializes in Digital CRM. In this presentation HGSI has debunked the myths around social crm and shared valuable Insights. For more case studies like this, visit www.hgsinteractive.com

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    CRM Going Social - A Journey CRM Going Social - A Journey Presentation Transcript

    • Conventional CRM v/s Social CRM
    • Why Social CRM above Conventional CRM? *A survey on internet users by IBM Trust – 78% Social Media recommendations vs. 14% conventional ads Forum peer /on-line discussion vs. 26% direct promotion Influence – 74% Decide – 38% Read negative opinion > changed mind Verdict: Social media is the 1st choice for customers to:  Obtain information  Express  Give opinions, both positive and negative 78% 74% 38%
    • Personalized Marketing Mass Marketing Push Collaborative & Interactive ...to relational and conversational  Quality of customer Relationship Management often throughout the life cycle  Continuous contact  Increase in the number of relationships maintained by the brand From Transactional.....  Quality of customer Relationship Management often measured as the operational quality of the transaction  Internet contact with customer Conventional CRM to Social CRMStrategy Approach
    • General Social Tools – How they do it
    • Social CRM – Myths Busted MYTH N°1: SOCIAL CRM IS NOT HERE TO STAY  Social CRM is the answer to changing consumer behavior  Advanced tools with customer data that can be increasingly exploited  40% increase in market value compared with 2010 and more than 20% extra in 2012 (Gartner)  40% rise in budget spending MYTH N°2: SOCIAL CRM = FACEBOOK + TWITTER + (GOOGLE+)  These social media are not the only scope for action  First prioritize Social CRM integration on the corporate site of the company  “Fish where the fish are”: casting a wider net on social media, where most of the brand consumers are brought together  Extending out to the preferred social media of influencers MYTH N°3: SOCIAL CRM STOPS AT CUSTOMER SERVICE  It impacts on all departments of a company  Priority departments at present: Marketing, Sales and Customer Services  Once a certain level of maturity has been reached there is internal collaboration and co-creation. MYTH N°4: ONLY THE COMMUNITY MANAGER CAN BE TASKED WITH SOCIAL CRM  Maturity analysis of the organization is needed to determine team requirements, i.e. composition and training
    • Social CRM Present Scenario
    • According to a survey conducted by IBM , nearly 80 % of companies have a social media presence and most use social media for Customer Relationship Management purposes. Social media usage by companies - Communicate with customers - Respond to customer questions - Promote events - Generate sales leads - Sell products / services - Solicit customer reviews - Capture customer data - Brand monitoring - Customer research - Recruit employees - Employee-to employee interactions - Solicit customer ideas - Provide support - Expert insights / thought leadership - Training / Education - Customer-to-customer interactions - Vendor or partner communications
    • Social Media Maturity scale of a Company Each company can have its own Social CRM policy relevant to its internal characteristics (organization, culture, resources, targets, global Communications and Marketing strategy, etc.) and external ones (expectations, conversations, support, etc.). There is no such thing as a single practice that can be applied to all companies and no set rules in terms of organization These companies have managed to exploit social media on an industrial scale in a coordinated and integrated approach to augmented Customer Relationship Management, involving customers in all the key departments of the company, i.e. Sales, Marketing and Customer Services. Start of relational and conversational usage of Social Media The Social CRM model is integrated as an information silo into the different functions of a company with a limited level of industrialization Transition to a phase of active communication, although it is still not conversational and lacks an overall strategic vision Some experimentation with main social media, Usage focuses mainly on communication using the push and passive approach No Move towards Social Media Pre - Social Experimental Connected Engaged Strategic
    • Social CRM – Need of the time Why Social CRM? Customers are increasingly located in social media. The companies, therefore, need to be where the customers are. Why it can’t be ignored? • 80% of Internet users use at least one social network • 80% of consumers want a dialogue with brands on the Internet • Facebook has 750 million active members worldwide Expectations: Blogs & forums: Longer, in-depth conversations and interactions Social media: Expressions without necessarily expecting a reaction
    • Social CRM Ideal Scenario
    • Understand Get customer insights on individual‟s profile, history and environment Build Create closer relationship with individual Influence Encourage brand loyalty Brand community Advertise Campaigns: Run launch offers, events, promotions Amplify Message spreads via friends & followers Measures Analytics on consumer behavior, source of pre-purchase information Impact Interactions with company sales forces Explore opportunities New marketing and sales channel Social CRM - Usage Customer Service: Effective handling of customer dissatisfaction Enriching loyalty programs: New customer acquisition: Measure & explore opportunities:
    • How Social CRM processes are distributed across a company? Communication Marketing Sales Customer services Increasing brand Reputation and visibility Improving retention rates Generating Qualified Leads Improving the quality of services (speed relevance, etc) Monitoring Online conversations Managing and measuring e-reputation Utilizing brand ambassadors as word-of-mouth potential Online and offline campaign-mixing as part of a global strategy Encouraging experience-sharing and feedback, rewarding influencers Monitoring consumer rections to improve the effectiveness of marketing campaigns Understanding customers in real time their precise needs, based on the social graph Capturing sales opportunities by identifying leads in community real time Using communities to develop lead identification programs Increasing contact avoidance by transferring Knowledge to communities Capitalizing on customer knowledge to enhance and correct support services for customers Reducing response time to crisis situations and complaints
    • Companies adopting to Social CRM should remember… Be original: Social media customers are often looking for an “authentic” dialogue, as opposed to the scripted dialogue delivered by contact center agents. So companies will need to adapt their conversations with customers so that they are more in line with the general tone of an exchange. Be committed: Opting for social CRM is without a doubt a long-term commitment as Social CRM should be a daily and ongoing practice. It is not a series of campaigns that need to be implemented Be flexible: Companies need to find the right balance between steadfastness and speed - a balance which is at odds with firmly entrenched procedures. A flexible approach to social support is essential Be simple: In “conventional” customer support processes, a certain number of validation steps are necessary. With social media, it is vital not to end up with too many steps as this may result in “loss” of a customer who is expecting greater reactivity than in traditional media
    • Social CRM ROI
    • Evaluating the effectiveness of Social CRM - ROI • Return on Investment or Return on Objective (ROO) is still very much dependent on initial strategy. The benefits of Social CRM cannot be measured uniquely in financial terms (transactional marketing), as the notion of ROI would suggest. • Risk Of Non Investment (RONI) - The effectiveness of Social CRM is measured firstly in terms of the risks incurred by companies who decide not to use it. Deciding not to adopt a Social CRM approach means refusing to align with a long-term sociological evolution in consumer behaviors. • Social Media strategy thrives on potential business opportunities that could bring fundamental changes to the customer/brand relationship and increase profitability in the long term.
    • A stratified ROI concept - DELIVERING THE RIGHT INFORMATION TO DIFFERENT AUDIENCES Business Executives Business Metrics Profit generated, Reputation rating, Cost reduction Assessment etc. Business stakeholders (management. employees, suppliers, investors, etc) Social Media Analytics : Information obtained from comments on social media Scope of conversation, Impact of ambassadors, resolution rate of issues, etc Operations (community managers, Developers, agencies, etc.) Customer & Prospect engagement data (opt-in, etc) Number of clicks, fans, followers, check-ins, views, re-tweets, etc. Role Metrics Specific Data
    • Return on objective (ROO) and key performance indicators (KPI) to measure “SOCIAL ROI” • The Return on Objective helps companies that are genuinely customer focused to improve their operational evaluation of the quantitative and qualitative impact of Social CRM • Instead of measuring the success of a campaign by focusing only on additional profit generated, ROO allows companies to better anticipate the overall Social CRM gains based on the conversational and relational impact as well • Four big strategic objective categories (brand perception, effectiveness of marketing, revenue growth, savings)
    • KPI # 1 - Strategic objectives on brand perception Brand equity - Loyalty - Reputation - Perceived quality - Brand associations - Other assets Customer experience and satisfaction - Satisfaction rates compared with other contact channels - Likeliness to recommend (Net Promoter Score) Churn rate Social CRM is about improving the reputation of a brand, its association with customer values, buying intentions linked to this, etc. Examples of KPI: Identifying with the brand - Volume of online posts and print-offs - Developments before, during and after Social -CRM campaigns Share of Voice - Number of times the brand is mentioned on social media - Comparison with competitors Propensity to buy
    • Brand website audiences, the number of links to these sites and how they are indexed by search engines can all benefit from the Social CRM approach. Examples of KPI: SEO - Development of referencing on search engines - Volume of traffic on a company website - Volume of traffic on social media Scope and development of conversations - Number (and growth in the number) of followers, fans, subscribers - Number of connections on third-party software - Number of interactions - Audience participation Number of clicks, shared threads, mentions, responses, assessments, comments, re-tweets, votes, downloads, participants, favorites KPI # 2 - Strategic objectives on marketing effectiveness
    • Many brands have enjoyed fruits of social media activities over the period of time in terms of revenue. Examples of KPI: Lead generated by Social Media: - Wider audience generated - Number of contact forms completed on website - Number of contact forms completed directly on social media Impact of Social media on online and offline sales: - Turnover generated through social media - Rate of differentiated transformation in social media monitoring - Retention rate compared with other channels KPI # 3 - Strategic objectives on revenue growth
    • KPI # 4 - Strategic objectives in terms of savings This is not the only criterion that allows a “social ROI” to be calculated, but it still needs to be taken into consideration. It can take the form of either an increase in sales or a savings on marketing costs. Examples of KPI: Cost per lead compared with other channels Cost of customer data acquisition compared with other channels Creation of community Content: number of notes and assessments (User Generated Content) - forums, wikis number of issues resolved by customer support services number of issues resolved by the community Savings on customer support services: - resolution rate - cost of using social media support services compared with other Channels - rate of contact avoidance on other more costly channels (e.g., telephone) Savings on marketing surveys: - reduced survey, interview and small group costs - reduced costs for focus groups and mystery shoppers, thanks mainly to the availability of customer data from social media
    • Present Market Offering
    • HGS SCRM Work Flow
    • Function Listening Collecting Redirecting Interacting Measuring Assessing the performance of CRM KPIs implemented thanks to data obtained from social media. Retrieving information from social media intelligently and integrating it into the various existing databases to build an overall picture of the contact. Retiring and sorting information to ensure it is redirected to the adequate group of people. Retrieving raw data from people who have registered on identified sites. "Listening" to information on social media as a way of becoming better acquainted and adapting strategies offline (understanding how customers/prospects perceive the company or new products/offers marketing campaigns - without retrieving customer data.) "Listening" to social media for offline analysis and responding in non-real time. Enhancing the database for offline analysis and responding in non-real time. Using data from the right people for offline analysis and responding in non-real time. Enabling online reactions (in real time) and using intelligence in the selected channels. Adapting CRM KPIs that have already been implemented. ObjectivesDescription HGS Social Offering – Functions & Objectives
    • Maturity Strategy Functions Objectives Listening, measuring and analyzing the information retrieved from social media Managing KPIs on a single channel Listening / Collecting / Measuring Managing KPIs continuously and in an integrated manner on different channels Listening / Collecting / Redirecting / Measuring Obtaining an overall picture of the contact. Creating community platforms Listening / Collecting / Redirecting / Measuring Proactively engaging customers and monitoring them on different channels Managing KPIs and responses in real time on different channels, whilst integrating customer participation Listening / Collecting / Redirecting / Managing / Measuring Creating interactive platforms HGS Specialist Social Tools – Methodology
    • Social CRM Case Studies
    • Hinduja Hospital: Monitoring & Engagement Key objectives: • Community building on prominent social networking sites – Facebook, twitter, foursquare, YouTube and LinkedIn • Brand monitoring • Reputation Management • Generating conversations about new initiatives of hospital, i.e., first lung transplant in India, etc. A phase-wise development strategy was developed wherein brand presence on social networks was built with profiles and sections, with listing of services and information. Developed a content approach which is similar to a health magazine, and develop interactive tools and calculators. Regular monitoring of on-page & off-page interaction is assessed and reverted to in real time, channelized via escalation to Hinduja Hospital. The hospital is gaining popularity on social networks with average rise of 20% per week; currently the weekly reach is over 103,129 people with 1,164 weekly impressions. P. D. Hinduja National Hospital & Medical Research Centre is an ultra-modern tertiary care hospital, internationally acclaimed for its world class medical services, covering all specialties and diagnostics.
    • Dish Hospitality: Aurus Key objectives: • Translate and transmit event experience via social media platforms, and channelise it to enhance brand image & identity. • Generate buzz about event & increase footfalls to the event. The strategy for Aurus was to engage, create innovative concepts to showcase the brand, build interaction and channelise cross promotion, while increasing footfalls. Technology integration for Artist section created a unique brand identity for the artist and brand. Generated user interest by content dissemination, while monitoring and responding to the online community and their reviews and comments. Fan response was overwhelming, from a revert rate of 5 RSVP‟s; it soared to 450-500 attendees. Strategic cross linking resulted in 5000+ followers for Aurus Sunday Sundown's Twitter page, with effective bookmarking reducing the impact of negative reviews. Located in Mumbai, Aurus – a fine dining restaurant, is a part of Dish Hospitality, a group that is focused to conceptualise, build and manage innovative hospitality and lifestyle concepts. Christened „The Aurus Sundown‟, the restaurant featured international award winning electronica acts every week during Sunday Sundown.
    • Dish Hospitality: Sancho's Restaurante & Cantina Key objectives: • Keep patrons updated on social networks about restaurant events, menus, and other activities throughout the year • Deliver brand essence on social networks & enhance brand image • Campaigns to increase footfalls • Offers & deals promotion • Reputation management • Brand monitoring Ideated and executed engaging campaigns to maintain positive brand sentiment, these included successful campaigns like Friday Night Campaign and Women‟s Day Cocktail campaign which resulted in a 50% rise in page views. Proactively inviting community (social influencers) to get involved with brand communication (food bloggers meet). Monitored and responded to the online community and their reviews and comments, this included extensive Twitter and Facebook brand reputation management. The number of unique people reached via campaigns 3,98,868. Sancho's Restaurante & Cantina is one of Mumbai‟s major standalone Mexican restaurant in Mumbai. Sancho‟s serves authentic Mexican fare and has been voted the Best Mexican Restaurant in Mumbai by the Times Food awards 2011.
    • Tata AIA Life Insurance: Brand Monitoring 1. Monitor conversation on social media relevant to the brand. 2. Scan networks: News, Blogs, Forums, Social Media, Video 3. Perform analysis and tagging of conversations 4. Understand brand sentiment, user perception & pain-points 5. Work alongside TALIC team to define escalation points, departments to contact and resolve customer queries 6. Recommend response strategy and support for closing critical issues (Prioritizing comments, drafting reverts, canned responses, etc.) 7. Generate report on sentiment analysis, influencers and reverts SET-UP & MONITOR Amplify positive reviews, revert to neutral mentions & act on negative mentions ANALYSIS & REACT React to negative mentions: Create buckets, escalation points & resolve accordingly RESPONSE & REPORT Keyword density, Sentiments, Influencers, TAT Performance report, Response Trend, Open Questions IMPACT & GAIN Positive brand image, Target Influencers to be Brand Advocates
    • THANK YOU