More Than Just Facebook for Business: Translating Social Interactions into Actionable Social Intelligence - BDI 3/23/11 The Social Consumer: Case Studies & Roundtables
Case Study: More Than Just Facebook for Business: Translating Social Interactions into Actionable Social Intelligence
Presented by: Alan Nugent, CEO, Mzinga
Business is inherently social—and accordingly, many brands around the world have already embraced social technologies as a way to engage customers and raise brand awareness. But social solutions are more than just Facebook for business. A comprehensive, well-planned social ecosystem can provide enormous benefits that span the enterprise—and can help organizations gain valuable insight into meeting customer needs, improving loyalty, and sustaining and growing revenue.
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Similar to More Than Just Facebook for Business: Translating Social Interactions into Actionable Social Intelligence - BDI 3/23/11 The Social Consumer: Case Studies & Roundtables
Similar to More Than Just Facebook for Business: Translating Social Interactions into Actionable Social Intelligence - BDI 3/23/11 The Social Consumer: Case Studies & Roundtables (20)
More Than Just Facebook for Business: Translating Social Interactions into Actionable Social Intelligence - BDI 3/23/11 The Social Consumer: Case Studies & Roundtables
1. More Than Just Facebook for Business:
Translating Social Interactions into
Actionable Social Intelligence
Presented by Al Nugent
Mzinga CEO
MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
2. Today, the pressure on businesses
is higher than ever to…
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3. Work smarter & more efficiently.
According to IDC, the cost of NOT easily
finding information = $3,300 per employee
each year
(That’s $3.3M in annual lost
opportunity cost for a
business of 1000 people)
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4. Build brand credibility &
buyer trust.
30% of consumers rely less on
advertising, and much more on
recommendations from friends and
family for making buying decisions.
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5. Reduce customer
response times.
More than 90% of customers' issues
haven't been unearthed in most organizations,
and in addition, often the organization doesn't
have answers for them, according to Forrester
Research.
These issues lead to long support calls, poor
issue resolution, cost increases and customer
dissatisfaction.
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6. Improve customer
loyalty & satisfaction
The primary driver of a consumer's loyalty is
their experience with your business, product
or service.
Yet, marketers on average only invest
20% of their programs in loyalty and
customer experience efforts.
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7. So customers are now taking matters into
their own hands…
.
48% report always or often using an online posting or blog to get other’s opinions about a
company’s customer service reputation
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Source: American Express Global Customer Service Barometer April 13th – April 20th, 2010
8. Trust moves beyond financial performance
(It is the new social currency)
Source: 2010 Edelman #1 INBarometer
MZINGA l Trust ON-DEMAND SOCIAL SOFTWARE l
9. Customer Experience
Solution Use Case
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10. The Social Organization
Traditional Social organizations Unstructured
business processes Transformed business processes that social interactions
improve productivity, efficiencies & that streamline communication,
Often hierarchal and siloed, but critical enhance relationships, etc.
revenue growth
to business goals and success
Product Mkting Sales Services
Corporate Strategy Service
s
Information Systems
Human Resources
Finance & Administration
MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
11. Acquire
• Increase Sales Effectiveness Summary
• Foster thought Leadership Increase sales team
Acquire • Social Sales Insights collaboration and enable more
direct target buyer interactions-
ultimately reducing sales cycles.
Customer
Experience
Solutions
Engage
•Customer On-boarding Summary
Support Engage •Customer Retention Develop more interactive,
•Customer Education mutually beneficial relationships
with customers that improve
satisfaction & retention.
A new model is now
essential to meet the Support
changing customer Summary
• Peer Support
landscape… • Social Support Insights Significantly reduce support
• Rapid Social Response costs and improve customer
response times by making your
team readily accessible to
customer needs in real time.
MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
12. Key proof points
Improve customer response times
• 36% of consumers prefer using websites to get answers to
questions rather than via telephone or email- and 57% are very
likely to abandon purchases if they cannot find quick answers
to questions.
Drive satisfaction, loyalty & retention
• Live chat, peer-to-peer forums, just-in-time customer education
and direct access to experts help customers get answers
questions quickly- improving satisfaction and reducing
abandonment.
“ We wanted to create an
interactive forum where job
seekers could find information to
further their career goals. It
Reduce support costs allows our members to connect
• Telephone support costs $6 to $12 or higher per contact.
with both our experts and their
• Online chat costs only $5 and is 63% more effective, and web-
based customer self-service costs just a few cents per contact. peers to plan the next steps in
MZINGA
* 2010 Forrester ResearchON-DEMAND SOCIAL SOFTWARE
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their career path.
”
- Michael Harvey, Chief Executive at
Monster.com’s CareerOne
13. Social Intelligence Ecosystem
Strategic
Services
Smart Moderation
And
Content Vibrancy
Cloud-based
Open
Platform
Endpoint
Analytics
Agnostic
Role-based
Applications
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14. But how do you measure
the value?
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15. What is Social ROI?
Social media
Business results
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16. Sample measures that matter
Analyze your community PLUS interactions on the social web
Benchmark your community to others
Analyze your community
Your site 1 2 3
(Other sites)
Members
Roles
By role
Content
By industry Sentiment
Behaviors
By company size Competitive analysis
By community size Social graphing
Business intelligence
MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l
17. Non-monetary rewards also provide
currencies in community engagement
Recognition Access Impact
• Influence tracking • Community resources • Raise personal &
• Badges and tutorials community profile
• Code galleries • Informal social • Deliver feedback from
• Featured placement networks surveys
• Awards and contests • Key executives • Influence product
• New features direction
• Speaking slots
• New products • Drive business
• Select groups
• Beta versions outcomes
• Public events • Provide proof point
references
• Private events
• Incentivize
downloads/demos
2010 Constellation Research Q4 qualitative survey on community engagement incentive
drivers
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18. Thank you for your kind attention.
Q&A
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