accelerating roi on social media
DESCRIPTION
Alain Benzaken, Chief Technology Officer of Americas at Decisyon, discussed how organizations can get a return on investment (ROI) from their social media efforts during his presentation at the 2014 Chief Information Officer Leadership Forum: Spotlight on Financial Services in New York on Sept. 9. In his presentation, Benzaken pointed out social media is transformative for today’s businesses, but only if they understand its short- and long-term impact. According to Benzaken, social media already has had far-flung effects on how companies run their customer service and marketing. Benzaken noted that while marketing typically was first to use social media, customer service departments quickly became involved in responding to customers posts. “Companies set up separate departments to handle these issues because social was very different in terms of how you respond to the customer, because if you respond publicly everybody else can see it. And if you’ve outsourced your phone and e-mail to some offshore company call center, you probably don’t want them answering a social post.” However Benzaken noted that in order to accelerate Social ROI, it is critical to learn from the initial social team and then build internal collaboration between all departments. “It’s really important to have a fully collaborative platform within the company to be able to respond well, and that includes all departments: marketing, customer service, and product.” Building a better connection with customers is vital, Benzaken said, and a company that ignores its social media presence risks losing customers to rivals: “Companies that do this well are the ones customers will come back to, because they are listening to their customers… I will tell you by the way that if you want to get the best customer service, post on Facebook or post on Twitter. I don’t know if any of you have had that experience, but it’s often a hundred times better than phone and e-mail.” - See more at: http://www.argylejournal.com/chief-information-officer/2014-chief-information-officer-leadership-forum-spotlight-on-financial-services-alain-benzaken-chief-technology-officer-americas-decisyon/#sthash.dg2WNMnN.dpufTRANSCRIPT
Decisyon, Inc. © 2014 / All Rights Reserved
Accelerating ROI on Social Media
Alain Benzaken, CTO Americas
September 2014
1 Decisyon, Inc. © 2014 / All Rights Reserved
Decisyon, Inc. © 2014 / All Rights Reserved
Less Than 50% of Companies Measure ROI of Social Media
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Source: The State of Corporate Social Media 2014, Useful Social Media
Decisyon, Inc. © 2014 / All Rights Reserved
Customer Service Gaining in Social Media Use in 2014
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Source: The State of Corporate Social Media 2014, Useful Social Media
Decisyon, Inc. © 2014 / All Rights Reserved4
Decisyon, Inc. © 2014 / All Rights Reserved5
Social CRM Stages: Gartner 2013
Source: Gartner (October 2013)
Decisyon, Inc. © 2014 / All Rights Reserved
Measuring ROI on Social
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Marketing Executives Customer Service
• Engage With Customers• Build Earned (free) Media• Increase Campaign
Management Effectiveness• Enhance Brand and Protect
During Crisis
• Improved Efficiency and Costs
• Reduce Response and Handle Time
• Increase Customer Satisfaction and Retention
Decisyon, Inc. © 2014 / All Rights Reserved
Sources of ROI on Social Media
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Marketing Customer Service
Sales/CRM
Decisyon, Inc. © 2014 / All Rights Reserved
ROI is Enhanced When Addressed Together
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MarketingCustomer
Service
Sales/CRM
Integration of SystemsCollaboration of Teams
Process change
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Cross-Department Collaboration Provides Acceleration of ROI
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3 stages of Technology Platforms
1. Social Monitoring / Social Campaigns
2. Social Customer Service
3. Social Intelligence
– Social Data Warehouse
– Integrate and Match Social with CRM and Other Enterprise Data
Oracle HadoopTeradataMongo
Social Data Warehouse Operations Unstructured data
Salesforce
CRM
Social PlatformData Management
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AlpitourWorld Gets Social Media Moving
AlpitourWorld is a $1B travel company in Europe with a wide network of firms.Employs 3,500 employees worldwide and serves 2.7 million customers.
Challenges/Requirements
• Flexible engagement platform where each fan and each brand can share, promote and recommend their positive experiences
• On-the-fly analytics on social networks• Quick deployment the whole group
strategy without compromising each brand’s identity
Results
• 50% improvement in online quote requests
• 30% improvement in agent productivity• 34% growth in fan base• Training time reduced from 40 hrs to 4
125% annual ROI over 3 years, 5 month payback
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Largest telecommunication group in Italy, the 2nd largest in Brazil and one of the biggest in Europe. Offers infrastructure and technology platforms where voice and data can become advanced telecommunication services.
Challenges/Requirements
• Needed to engage with customers on social, and to build internal confidence on the use of social networks
• Needed a robust application that would support real-time customer engagement and measurement of its own KPIs
• Seamlessly integrate with the corporate CRM systems.
Results
• 5% increase in Social Sales: LeadGen,Upsell, Anti-churn
• 10% Improvement in agent productivity• 30% growth in fans• Training reduced from 5 days to .5 days
894% ROI over 3 years, 4 month payback
Tracking Telco’s Social Service into Sales
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Intesa Sanpaolo is a banking group resulting from the 2007 merger between Banca Intesa and San Paolo IMI. The 2nd largest banking group in Italy, provides retail and commercial banking services.
Challenges/Requirements
• Analysis of the growing volume of social media data starting in 2012
• Control of social media conversations• Not lose any customer requests• Create a lean social caring process• Putting the customer at the center of
how they operate
Results
• 100% coverage of social conversations• + 100% inquiries year on year
• + 90% unique active fans to manage• - 23% in first response time to 31m• - 56% reduction in resolution time to
36m
138% ROI, 2 year payback
Intesa Sanpaolo Improves Customer Focus
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Who is Decisyon?
• Gartner “Cool Vendor” in Social Analytics 2014
• Focus on Collaborative Decision Making
solutions that accelerate your business:
Financial Workflow, Social CRM, Branch
Performance, Risk Management, etc.
• Blue chip customers: 200 companies using
Decisyon technologies & applications
• Founded in 2005
• Offices in Stamford, CT | Latina (Rome) | Milan
Decisyon, Inc. © 2014 / All Rights Reserved15
For More Information
• www.decisyon.com
• www.facebook.com/Decisyon
• https://twitter.com/Decisyon
• www.linkedin.com/company/Decisyon-inc