Digital Atlanta 2011 - Social CRM and ROI

Digital Atlanta Social CRM and ROI@alexavendano Alex Avendanolinkedin.com/in/alexavendano Director of Product & Strategy, SS1alex.avendano@arkesystems.com Partner, Arke Labs

Discussion• My Background• Assumptions• What is “Social CRM (SCRM)” – Basic principals and mechanics• Planning: Preparing for SCRM Goals• Execution – Integration & Multichannel Understand SCRM and why it’s – Deep dive: CRM Tools – Mobile Extensions important• Campaigns• Measuring Results Understand how you can move – Tiers of Results forward with SCRM – An Alternative Viewpoint implementation – ROI Models• The Future• Next Steps

My Background • Started and sold clothing company while at Wharton, Henry A. Davidsen, 2006 to 2009 • Ran sales and marketing for Facebook Preferred Developer, Stuzo, 2009-2010 • Team Leader for SMB sales team at large local company, PGi, ~600MM company and 50 sellers using Salesforce, 2010-2011 • Sales and marketing strategy at local agency, Arke Systems, 2011 • Digital product management and startups, Social Strategy 1 & Arke Labs, 2011

Assumptions You know what CRM is and are familiar with it’s mechanics & entities You understand the basics of the social media landscape and data sources You have a basic understanding of measuring ROI for your organization You actually intend to start developing an SCRM plan for your organization

What is “social CRM”?

What is Social CRM (SCRM) “Social CRM brings together the information your people and systems need to personalize their message at every stage of the buying process.” - What does this mean for your sales process? Chris Spears - Where do I get the information? Vice President - How do I know that the information is relevant and accurate? Arke Systems - How are sellers more effective with this info?

What is Social CRM (SCRM) "Traditional CRM is referral-based whereas social CRM is reputation-based - it IS your real-time, 24x365 focus group that quickly identifies both opportunities and issues. The ability to capture, track, and quantify public opinion will dramatically improve your marketing, sales, and customer service efforts.“ Greg Cory - How do I integrate customer feedback? CTO & COO - How do I quantify public opinion? Office Arrow - How does it improve marketing, sales, and (Former CEO of customer service? eMaximation.com)

What is Social CRM (SCRM) “Social media brings you the voice of the customers, nearly in real-time. By actively listening to those voices *…+ you can build better, longer-term relationships with customers because you know what they need, or want. Knowing what appeals to customers is the cornerstone of any CRM and a big piece of the Social CRM puzzle.” Steve Ennen - Why does real-time make a difference? President and CIO - How does CRM listen to the voices at an Social Strategy 1 aggregate level?

What is Social CRM (SCRM) Social CRM is an implementation strategy that provides additional, relevant, and social data to sellers, marketers, and decision makers in an effort to improve ROI of multiple aspects of the business.

What is Social CRM (SCRM) Basic Principals and Mechanics The Four Ps of SCRM: People, Platform, Product, and Process People: Your community of users and your internal decision makers Platform: Social media outlets tied to your SCRM system Product: The combination of tools you implement (CRM, etc.) Process: The standards and protocol you implement to manage social

What is Social CRM (SCRM) Traditional CRM Controlled and initiated by the business • Process is controlled by the seller • Information is static and at the mercy of the seller • Information is basic and simple, just the “who” and some “when” • 1 product, 1 person

What is Social CRM (SCRM) Traditional CRM Controlled and initiated by the business Customers Company

What is Social CRM (SCRM) Social CRM Dynamic and influenced by the customer • Process is dynamic and influenced by the customer • Information is dynamic and updated without seller input • Information is robust (Who, What, Where, When, Why) • Multiple platforms and products, customer and company influence, multiple company touch points

What is Social CRM (SCRM) Social CRM A combination of People, Platform, Product, and Process People Platform Product Process

What is Social CRM (SCRM) Social CRM Multiple company touch points • Communication (PR and Marketing) driven by social data • Sales driven by social data • Product Development driven by social data • Customer Service driven by social data

What is Social CRM (SCRM) Basic Principals and Mechanics Process is dictated by department and goals Service Marketing Sales People Platform Product Process

There is no ‘one size fits all’ approach.

Planning: Preparing for SCRM

Planning: Preparing for SCRM Step Back: Who Are You Understand the core value drivers for your organization Newsweek.com ArkeSystems.com Focus on online content consumer Focus on complex sales, B2B Site traffic hugely important, Site traffic heavily direct, few search understanding visitors visitors No 1-1 direct sales All 1-1 direct sales Heavily marketing based Heavily sales based Enterprise Small business

Planning: Preparing for SCRM Planning is Important Ask the right questions and get everyone involved 1 Who are all the different people that need to be involved? 2 What are your priorities and goals? 3 What does your platform stack need to look like? 4 What does your product stack need to look like? 5 What are the right processes that need to be put in place? 6 How are you going to measure return and constantly improve?

Planning: Preparing for SCRM Involve the Right People Don’t start from scratch, there’s already equity • Work has already been done, you just need to uncover it Sellers wanted iPad apps Using their personal • Lead the charge; integration and iPads in the field communication are key Teams collided Data and productivity • Form committees and teams, lost have an open planning process

Planning: Preparing for SCRM Priorities and Goals Determine the most important goals, by department, for a social CRM plan Product Development Community Branding Building Customer Service Lead Generation SOCIAL GOALS User Engagement Reputation Management Recruitment / Thought HR Leadership

Planning: Preparing for SCRM Platform Stack What is the right set of platforms for your organization Service Marketing Sales People Platform Product Process

Planning: Preparing for SCRM Product Stack What is the right set of products for your organization Service Marketing Sales People Platform Product Process

Planning: Preparing for SCRM Processes Process and structure are keys to a successful implementation Service Marketing Sales People Platform Product Process

Planning: Preparing for SCRM Processes Process and structure are keys to a successful implementation • Your biggest risk is that your team doesn’t know how to use the tools. • Process is the most difficult component to implement and maintain. • Lead from the front. • For example: • Sales – ensuring sellers know how to get the right info • Customer Service – enabling reps to uncover issues hidden in the social graph • Marketing – generating leads from social sources

Planning: Preparing for SCRM Execution Successful execution will lead to meaningful results Consider working with a partner or agency to choose the best tools and successfully implement themSitecore CEP Broadlook Click Dimensions

Execution: Sitecore

Execution: Click Dimensions

Execution: Broadlook

Don’t be scared ofsocial media, embrace it as a tremendous opportunity.

Campaigns

Campaigns Campaigns Focus on your goals; focus on iterations • Campaigns should boost results towards goals, in-line with social lifecycle • Iterative approach (Discovery Driven Planning) • Consider A/B testing • “Social then Search” Problem • and how CRM can solve it

Campaigns Social Lifecycle Determine where you are and what goals you are targeting 1. Build fans 2. Engage fans 3. Encourage Spread 4. Retarget & SEA 5. Integrate Offline

Campaigns Iteration Feedback Loop Integrate Analyze and Measure returns and information into Collect Information process determine next the sales & information iteration marketing process Iterate Discovery Driven Planning A/B Testing

Measuring Results

Measuring Results Tiers of Results Track different metrics that lead to conversion 1. Valuing your cost savings a) Gains in productivity, testing, development 2. Valuing your social assets a) CPM model vs. book value 3. Valuing conversion activities a) Measure each step towards the bottom line 4. Valuing bottom line effects a) Sales

Measuring Returns An Alternative Viewpoint: Avinash Kaushik Conversation, Amplification, Applause, and Economic Value Conversation: Conversation Rate = # of Audience Comments (or Replies) Per Post Amplification: Amplification = # of Shares Per Post Applause: Applause Rate = # of Likes Per Post Economic Value: EV = Sum of Short and Long Term Revenue and Cost Savings

Measuring Results Return on Investment (ROI) Every organization has it’s own understanding of ROI and ROI goals • Models like IRR, CLV, and NPV are very useful • However, they rely on the right data • Don’t be dominated by ROI, it’s not all tangible • Measuring impression value is easy, what about engagement value? Or the value of an integrated system that automates engagement? • Measuring returns in the face of change and uncertainty • Get started now, figure it out along the way, don’t play catch up • There is no case where less data is better

Measuring Results

ROI is a multifactor equation, that depends on you.

The Future & Next Steps

The Future The Future Uncertainty and blue sky • This is a new field. It will change and evolve greatly. • The landscape is forever changing. MySpace vs. Google+ • Facebook wasn’t the first. Right place at the right time… • Personalization, automation, and “mocial”

Next Steps Next Steps Get going, opportunity is passing you by What we haven’t talked 1 Start writing a plan about • Mobile 2 Get everyone involved • Analytics 3 Find outside support • Deep tactics • Technical Go do it.

Thank youAlex Avendano @alexavendano linkedin.com/in/alexavendano alex.avendano@arkesystems.com

Next Steps Resources You should check all of these out 1. Social Media Leadership by Michael Lewis 2. Best Social Media Metrics: Conversation, Amplification, Applause, and Economic Value by Avinash Kaushik 3. Social CRM for Dummies (whitepaper by Emailvisions) by Amita Paul and Johanna C. Nilsson 4. Altimeter Report: The 18 Use Cases of Social CRM, The New Rules of Relationship Management by Altimeter Group

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Digital Atlanta 2011 - Social CRM and ROI

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