Social CRM - 2011
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The document discusses the rise of social media and its implications for customer relationship management (CRM). It notes that over 180 million unique visitors access social media daily and over 600 million users are on social networks, with usage exceeding traditional email and search engines. As social network adoption increases across age groups, customers are more engaged and invested in social platforms. The document argues that companies must adopt social CRM tools to engage with customers on social media and gain insights from social conversations. It provides examples of early social CRM vendors and acquisitions in the space.
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Social CRM - 2011
- 1. What is Social CRM? Krassi Genov April 2011
- 2. The Reality of Social Media 180 million unique visitors, 95 million Tweets daily 600 million + users (70% outside of US) 490 million unique users/92 billion page views/mo. 90 million users in 200 countries
- 3. Social media –more popular than ever… Source: Unplggd …more popular than email……more time spent than on Google Total usage of web-based email dropped 9% in 2010 Facebook accounts for 12% of time spent online, 10% of all page views in the US
- 4. US social network user penetration, by age, 2009-2013 100% 90% 80% 70% 0-11 12-17 60% 18-24 50% 25-34 35-44 40% 45-54 55-64 30% 65+ 20% 10% 0% 2009 2010 2011 2012 2013 Source: eMarketer, March2011 Even though youngest age groups are still the most represented, active and engaged, more than half of internet users ages 45 to 64 and over four out of five 12- to- 34-year- old online users will be regular social network users in 2011.
- 5. Social media can help topple a regime… Source: The Guardian
- 6. Or cause a stock to plummet… The UK Times newspaper reported that within 4 days of the video being posted online, United Airline's stock price fell 10%, costing stockholders about $180 million in value.. . Which, incidentally, would have bought Dave Carroll more than 51,000 replacement guitars… Source: http://www.timesonline.co.uk/tol/comment/columnists/chris_ayres/article6722407.ece
- 7. Characteristics of the Social Conversation Many-to-many Social Network Influencer Characteristics of the social conversation: Viral, immediate, engaged, opinionated, device agnostic… Characteristics of the social influencer: Engaged, opinionated, tech savvy, large social networks, personal brand…
- 8. Social…Inside and Out Rapid adoption of social networking enables users to connect with individuals and communities who share mutual interests, increasingly leaving organizations out of the conversation. As a result, companies need to adopt an organized approach using enterprise software that connects business units to the social web – giving them the opportunity to respond in near-real time, and in a coordinated fashion {Altimeter Group}.
- 9. Social Customers Spend More… Average Facebook user is connected to 80 community pages, groups and events. 50% of active users log onto Facebook in any given day. In 20 min on Facebook 1 million links are shared, 1.5 million invites are being sent, 1.5 million friends’ requests are being accepted.
- 10. Social Customers Will Spend Even More… Company Active Users $ Details Groupon 50,000,000 Total dollars saved = $1,591,727,974 Total Groupons purchased = 38,598,963 LivingSocial 20,000,0000 Added 5 million subscribers in January Books $1MM/day, projects $500MM in 2011 revenues Source: Company Reports, Wells Fargo, Internet retailer magazine On January 19, 2010 LivingSocial ran a deal with Amazon, which offered LivingSocial subscribers a $20 Gift Card for just $10. The deal was available nationwide and attracted 1.4 million purchases.(Source Saipan Tribune) Fandango On March 2, 2011 Living Social offered two tickets for $9 via Fandango’s ticket service for any movie; LivingSocial sold 1 million tickets in two days, 780,000 tickets on the first day alone.[Source PCMag] Most people that use (and buy) Groupon daily deals, often subscribe to more than one service Consumer spending on ―Deal-a-Day offers likely to reach $3.9B in U.S. by 2015, according to BIA/Kelsey As of April 5, total dollars saved approached $1.6B, and total Groupons purchased were 38.6M (Wells Fargo)
- 11. Social Customers Are Invested… want you to respond when they leave a 58% comment on FB or Twitter… 42% within a day 39% within a week 7% within an hour 2% within a minute Only 22% actually receive a response from a company… Source: Harris Interactive http://www.rightnow.com/resource-ra-customer-experience-impact-north-america-2010.php
- 12. The Social Stratosphere Source Horn Group Inquiry volumes on social software for CRM spiked over 50% in 12 months. The number of social CRM vendors expanded rapidly; the market in mid-2010 has just over 100 vendors. Few vendors address the whole social market.
- 13. CRM & Social -no longer adjacent industries Salesforce M&A Jigsaw - contacts db, DaaS Genesys announced a Sitemasher – website design new social media Activa Live Chat – chat and co-browse Moxie announces strategy – FB and Heroku – coding in Ruby Twitter integrations, enterprise social Etacts - email add-on layers social Lithium partnership for software platform network profiles communities Dimdim – web collaboration tool similar to WebEx and Gotomeeting Lithium Buys ScoutLabs Seesmic – collaboration dashboard Manymoon – SaaS project management Net Suite talks Social Radian6- listening/analytics platform ecommerce RNOW acquires HiveLive 2009 2010 2011 eGain expands social suite of products – communities, Attensity Buys Biz360 social media monitoring, IBM launched Enterprise Web and connectors for FB, Experience suite( Customer Oracle makes a big push into Twitter, etc. Experience Suite), Expanded their Social at Open World 2010 – Salesforce Releases social suite of products – partnerships with radian6 Chatter communities, social media and Buzzient as listening monitoring, and connectors for FB, platforms Twitter, etc. KANA acquires Overtone Get Satisfaction, RNOW and Parature announce KB for FB
- 14. Social CRM in 2010…. Source: http://www.lithium.com/pdfs/whitepapers/Gartner-MQ-Social-CRM-t4OR7RhY.pdf In 2011? Salesforce Radian6 will move up, RNOW will move up, KANA will appear (Overtone), Oracle CRM (unchanged?)
- 15. Social CRM does not replace existing CRM efforts – instead it adds more value 5Ms Monitoring Mapping Management Middleware Measurement Social CRM applications encourage many-to-many participation among internal users, as well as customers, partners, affiliates, fans, constituents, donors, members and other external parties, to support sales, customer service and marketing processes[Gartner,2010]
- 16. Your Competition Large Enterprise Telephony CRM Niche Core Players: Core Players: Core Players: Core Players: Oracle, SAP, IBM. MSFT Avaya, CISCO, Genesys eGain, KANA, Moxie, Attensity, Lithium, Jive, Parature Core Expertise: Core Expertise: Visible Technologies, Core Expertise: BazaarVoice, etc…. Enterprise software, Call Centers/ Infrastructure Analytics Call Centers/WSS Core Expertise: Competes On: Competes On: Varies: Communities, Call center footprint Competes On: Listening Platforms, Mobile, Footprint in CSS Existing deployments Rankings backend systems Competes On: Niche Competency
- 17. Social CRM Entry Points Based on Business Value Ideal State: Build an universal social desktop for the enterprise
- 18. The ‘Activity Stream’ becomes key There is an emerging standard for the ability to share information moving through social platforms like Facebook and sharing that information in the organization.