Deloitte Social Media Congres 2010 (Final)

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Presentation of Theo Slaats, partner at Deloitte, on Social Media Strategy for Social Media Congres Feb 18, 2010 in Amsterdam

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Deloitte Social Media Congres 2010 (Final)

  1. 1. Social Media Congres 2010 Theo Slaats – Partner CRM Deloitte © 2010 Deloitte Consulting BV – All rights reserved
  2. 2. Contents Social Media and the Customer Social Media Strategy and Example Cases What are the Benefits? Where to Start? 2 © 2010 Deloitte Consulting BV – All rights reserved
  3. 3. Social Media and the Customer
  4. 4. Power of Social Media 4 © 2010 Deloitte Consulting BV – All rights reserved
  5. 5. What is the social customer doing? Uses new online channels and new communication tools Trusts in Seeks support advices made to connect by online with like- friends, minded peers acquaintances and strangers The new Reads and creates Social product Customer Tends to buy reviews, more online product than offline rankings and blog posts Wants to Expects better provide customer feedback experience about the online and product and offline customer service 5 © 2010 Deloitte Consulting BV – All rights reserved
  6. 6. Social Media provoked an expansion of the R in the CRM Company / Company Customer / Partner Company / Competitor Customer / Competitor Company / Partner Customer / Customer Company / Customer Partner / Competitor 6 © 2010 Deloitte Consulting BV – All rights reserved
  7. 7. Predictions indicate that 2010 is the year where the market requires clear ROI for Social Media • Research indicates that companies view their initiatives as “experimental” • Still executives demand to see the Return On Investment for all Social Media initiatives • What elements can be further explored? 1. Let’s not forget for who we are doing this: the Customer 2. Let’s put some smart thinking behind the initiatives: develop a Social Media Strategy 7 © 2010 Deloitte Consulting BV – All rights reserved
  8. 8. The influence of social media on our relation with customers reaches further than use of new technology Landscape Channels Processes • Auction website Customer Customer • Video sharing Establishing need Customer • Phone • Microblogs • Fax • Podcast • Email • Price comparison website impressions Customer Customer • Service • Wikis Decision Sharing • Letters • Personal contact • Social Networks + Customer Customer • Company’s website • Blogs • SMS • Widgets Competitor Supplier / Partner • Instant Messenger • Photo sharing Targeting • Chat • Forums Expansion Acquisition Experience Customer Customer • Media • Slides sharing • Reviews and ratings in retail sites Retention • Social Bookmarking • Wish lists Your company • RSS Support processes Customer Customer Value Customer Customer Operation processes Mindset Technology Monitoring / Interconnecting tools ! Customer Conversation / Collaboration tools Data mining Owned Data RSS Forums Process Support ! Blogs Account Management Contact Management Activity Management Lead / Opp Management Widgets Campaign Management ! Sales Management Service Management… Interaction Tags Ranking Conversation APIs Contribution Open Id Wikis Podcast Social Networks Cloud Computing Employees Customers Brand monitoring services 8 © 2010 Deloitte Consulting BV – All rights reserved
  9. 9. Social Media Strategy and Example Cases
  10. 10. To approach the Customer effectively your Social Media initiatives need to be aligned with your business goals Business goals Customer Operational Product Leadership relationships Excellence Social Media strategy* Growth model  Listening Monitoring of your customers’ conversations Talking Participating in two-way conversations customers have Energizing Help customers sell or make introductions to each other Supporting Enabling your customers to support each other   Embracing Helping customers to come up with ideas to improve products *source: Forrester © 2010 Deloitte Consulting BV – All rights reserved
  11. 11. Some sample cases Business goals Customer Operational Product Leadership relationships Excellence Social Media strategy* Growth model Listening Monitoring of your customers’ Example: Online Customer Intelligence for WNF conversations Talking Participating in two-way conversations customers have Energizing Help customers sell or make introductions to each other Supporting Example: Hallo for Enabling your customers to KvK support each other Embracing Example: Deloitte Helping customers to come up with ideas to improve products Innovation *source: Forrester © 2010 Deloitte Consulting BV – All rights reserved
  12. 12. Case example: WNF Listening Type: Online Customer Intelligence (OCI) Case: The OCI tool captures all relevant data from different sources (blogs, forum, communities and news sites) and present this information in tagclouds. Based on the tagcloud further analysis can be made Business Value: Risk management, customer retention, effective campaign positioning, brand value Customer Value: Charity goals and values better aligned with customer needs 12 © 2010 Deloitte Consulting BV – All rights reserved
  13. 13. Case example: KvK Hallo! Supporting Type: Community development and management Case: Business to Customer and Customer to Customer Support Business Value: Customer insights, cost reduction through customer-to-customer support, brand value and image building Customer Value: Customer-to-customer support and opinion, knowledge sharing, social networking and collaboration, lead management 13 © 2010 Deloitte Consulting BV – All rights reserved
  14. 14. Case example: Deloitte Innovation Embracing Type: Idea generation and management Case: Deloitte Innovation created an innovation platform which gives employees the opportunity to post and possibly develop their new business ideas. These ideas are rated on business value and the best ideas are chosen to be developed into new service offerings with financial and entrepreneurial support of the organization Business Value: Innovative ideas which deliver competitive advantage in the market Customer Value: New innovative service offerings to drive business value with 14 © 2010 Deloitte Consulting BV – All rights reserved
  15. 15. What are the Benefits?
  16. 16. Social media presents some risk … • Substitution • Reputation • Intellectual property & confidentiality • Employee behavior • Loss of control • Quality & reliability of information 16 © 2010 Deloitte Consulting BV – All rights reserved
  17. 17. … yet presents many opportunities… • Brand protection & reputation management • Customer insights (“Voice of Customer”) Enhance customer 1 • Marketing effectiveness relationships • Customer service & associated support costs • Time to market Increase employee • Speed of access to internal experts 2 productivity & operational • Collaboration (projects, lean, BPR) efficiencies • Communication costs Foster creativity, • Speed of access to knowledge 3 innovation, • Collaboration (internal & external) on innovations & collaboration • Employee satisfaction 17 © 2010 Deloitte Consulting BV – All rights reserved
  18. 18. …and benefits can be measured Social feedback cycle Several companies use the social feedback cycle to justify the ROI. The social feedback cycle states that previous conversations have a positive effect on the consideration fase customers can be in and marketeers have to bridge to initiate the purchase. Effective usage of social media can turn into positive Social feedback cycle Net promoter score The Net promoter score can be used to calculate the customer satisfaction and promotion. Some companies have related these results to financial figures of the initiative and Net promoter score concluded that an increase of the NPS has a positive effect on the financial figures. Digital Footprint Index The Digital Footprint Index (DFI) is a single benchmark score that is tracked over time to measure the effectiveness of a brand’s social media efforts, as well as success relative to competitors. The index measures three dimensions: Digital Footprint Index Height: The quantity of conversation and content about a brand Width: The level of consumer engagement, interaction and sharing Depth: The level of message saturation and sentiment or tone © 2010 Deloitte Consulting BV – All rights reserved
  19. 19. Reality check: the first real business case of a social media project remains to be developed… • We have to accept that not all aspects of social media are measurable and thus building a real business case remains difficult • At the same time, many traditional measures can be used: email marketing offer click- through rates, sales opportunity conversion, first-time call resolution • New social “sentiment” measures like social conversation buzz, reach and value need to be added to the equation • Don’t let the upcoming ROI debate prevent you from starting your social media initiatives: define goals, start small, measure and evaluate results, and grow quickly! • Only by measuring your initiatives and sharing your results with the community of social media practitioners, the crowd can create more insight in the benefits of social media in different contexts 19 © 2010 Deloitte Consulting BV – All rights reserved
  20. 20. Where to start?
  21. 21. Looking back at our Social Media strategy model: listening is always the first step Business Customer Operational Product goals relationships Excellence Leadership Social Media strategy Growth model Step 1 Listening Talking Energizing Supporting Embracing 21 © 2010 Deloitte Consulting BV – All rights reserved
  22. 22. Step 2 is to articulate your Social Media Strategy and Social Media Delivery Social Media Strategy Implementation Objectives & Goals Audience Insights Plan Social Media Delivery Execute Manage & Grow Value Effort Prioritize and plan Release 2 Ambition Organi- Release1 Audience Business Technical zational Value value effort As is effort © 2010 Deloitte Consulting BV – All rights reserved
  23. 23. Theo Slaats Deloitte Consulting BV Partner Laan van Kronenburg 2 CRM, Social CRM, Cloud Computing 1183 AS Amstelveen The Netherlands Tel: +31 88 2882531 Mobile: +31 6 52672525 tslaats@deloitte.nl www.deloitte.nl/crm Member of Deloitte Touche Tohmatsu Disclaimer: Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms. 23 © 2010 Deloitte Consulting BV – All rights reserved

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