The document discusses various social media tools and how businesses can use them to build and manage customer relationships. It provides statistics about the importance of customer retention and positive experiences. It also discusses concepts like customer relationship management, gathering customer feedback, loyalty programs, networking, and using relationships to differentiate a brand. Specific tools mentioned include Facebook, Twitter, LinkedIn, Foursquare, and others.

1. Social Tools Digg Delicious StumbleUpon Hootsuite Bit.ly Ping.fm Klout Wefollow Socialmention Facebook Timeline Google+ Business Pages Foursquare Scribd Slideshare Twitter Brand Pages! What’s it used for? How does it work? How can businesses use it? Who’s doing it well?

2. TOOLS FOR CULTIVATING & MANAGING RELATIONSHIPS Relationship Marketing

3. The Marketing System convince cultivate connect clutter AUDIENCE need PROVIDER value

4. Some Stats about Customers Attracting a new customer costs 5 times as much as keeping an existing one A dissatisfied consumer will tell between 9 and 15 people about their experience. About 13% of dissatisfied customers tell more than 20 people. In 2011, 86% of consumers quit doing business with a company because of a bad customer experience, up from 59% 4 years ago More stats at: http://www.customer1.com/blog/customer-service-statistics Good service is important for every business –not just fast food and retail chains!

5. Managing Client Relationships

6. Relationship Building Moments of Truth – points of contact between the business and client/customer. These form the basis for the client’s feelings toward the company (your brand). Meeting and exceeding expectations on a functional, social, and emotional level It is the emotional reactions that solidify the relationship

7. Customer Relationship Management (CRM) Tailoring interactions and communications to the individual customer, often data-driven Primary purpose should be to enhance relationships, not make sales Identify the best-fit & most active customers Coordinate your internal efforts to make their experience seamless Manage inquiries and requests Social CRM: The customer owns the relationship

8. Customer Feedback Where it comes in: Social Media Networks Website Frontline Staff Seeking it out: Surveys Suggestion Boxes Use a centralized system Get Satisfaction UserVoice OpinionLab Respond rapidly Give it priority Happy customers who get their issue resolved tell about 4 to 6 people about their experience.

9. Loyalty & Referral Programs 80% of your customers are willing to switch Fewer than 20% are willing to refer Loyalty can’t be bought, must be earned How are you being loyal to your customers?

10. Can you think of examples of brands that have differentiated themselves mainly on managing customer relationships better than their competition?

11. WHO YOU KNOW WILL ALWAYS MATTER Networking

12. Relationship Profiles You don’t network to get a job Connections are important for multiple reasons Advice/Inspiration Endorsement/Support Introductions Opportunities Next week, we learn how to get more out of your network through personal branding...

13. Good Motto: “ Surround yourself with people that are smarter than you.” Choose your events strategically Be genuine. Ask questions about them & always seek to be helpful. Set out to help people Have (nice) business cards! Don’t get sales-y, you can always follow up later How do you find common ground? Never burn bridges

14. Networking Opportunities Meeting in “real life” is always easiest: Volunteering (volunteerottawa.ca) Recreational sports & activities Expand in your workplace But there are great ways to get out and mingle, too: Meetups.com Eventbrite.com Chamber of Commerce Tweet-ups

15. LET ME KNOW IF YOU’RE COMING TAKE THE MYERS-BRIGGS TEST IF YOU HAVE ONE, BRING YOUR FAVOURITE PHOTO OF YOURSELF (PRINT OR DIGITAL) For Next Week: