digital atlanta 2011 - social crm and roi
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Alex Avendano speaking at Digital Atlanta 2011 on Social CRM and ROITRANSCRIPT
Digital Atlanta
Social CRM and ROI
Alex AvendanoDirector of Product & Strategy, SS1
Partner, Arke Labs
@alexavendanolinkedin.com/in/[email protected]
• My Background• Assumptions• What is “Social CRM (SCRM)”
– Basic principals and mechanics• Planning: Preparing for SCRM• Execution
– Integration & Multichannel– Deep dive: CRM Tools– Mobile Extensions
• Campaigns• Measuring Results
– Tiers of Results– An Alternative Viewpoint– ROI Models
• The Future• Next Steps
Discussion
Goals
Understand SCRM and why it’s important
Understand how you can move forward with SCRM implementation
My Background
• Started and sold clothing company while at Wharton, Henry A. Davidsen, 2006 to 2009
• Ran sales and marketing for Facebook Preferred Developer, Stuzo, 2009-2010
• Team Leader for SMB sales team at large local company, PGi, ~600MM company and 50 sellers using Salesforce, 2010-2011
• Sales and marketing strategy at local agency, Arke Systems, 2011
• Digital product management and startups, Social Strategy 1 & Arke Labs, 2011
You know what CRM is and are familiar with it’s mechanics & entities
You understand the basics of the social media landscape and data sources
You have a basic understanding of measuring ROI for your organization
You actually intend to start developing an SCRM plan for your organization
Assumptions
What is “social CRM”?
“Social CRM brings together the information your people and systems need to personalize their message at every stage of the buying process.”
Chris SpearsVice President
Arke Systems
What is Social CRM (SCRM)
- What does this mean for your sales process?
- Where do I get the information?
- How do I know that the information is relevant and accurate?
- How are sellers more effective with this info?
"Traditional CRM is referral-based whereas social CRM is reputation-based - it IS your real-time, 24x365 focus group that quickly identifies both opportunities and issues. The ability to capture, track, and quantify public opinion will dramatically improve your marketing, sales, and customer service efforts.“
Greg CoryCTO & COO
Office Arrow
(Former CEO of eMaximation.com)
- How do I integrate customer feedback?
- How do I quantify public opinion?
- How does it improve marketing, sales, and customer service?
What is Social CRM (SCRM)
“Social media brings you the voice of the customers, nearly in real-time. By actively listening to those voices […] you can build better, longer-term relationships with customers because you know what they need, or want. Knowing what appeals to customers is the cornerstone of any CRM and a big piece of the Social CRM puzzle.”
Steve EnnenPresident and CIO
Social Strategy 1
What is Social CRM (SCRM)
- Why does real-time make a difference?
- How does CRM listen to the voices at an aggregate level?
What is Social CRM (SCRM)
Social CRM is an implementation strategy that provides additional, relevant, and social data to sellers, marketers, and decision makers in an effort to improve ROI of multiple aspects of the business.
What is Social CRM (SCRM)
Basic Principals and MechanicsThe Four Ps of SCRM: People, Platform, Product, and Process
People: Your community of users and your internal decision makers
Platform: Social media outlets tied to your SCRM system
Product: The combination of tools you implement (CRM, etc.)
Process: The standards and protocol you implement to manage social
What is Social CRM (SCRM)
Traditional CRMControlled and initiated by the business
• Process is controlled by the seller
• Information is static and at the mercy of the seller
• Information is basic and simple, just the “who” and some “when”
• 1 product, 1 person
What is Social CRM (SCRM)
Traditional CRMControlled and initiated by the business
Customers Company
What is Social CRM (SCRM)
Social CRMDynamic and influenced by the customer
• Process is dynamic and influenced by the customer
• Information is dynamic and updated without seller input
• Information is robust (Who, What, Where, When, Why)
• Multiple platforms and products, customer and company influence, multiple company touch points
What is Social CRM (SCRM)
Social CRMA combination of People, Platform, Product, and Process
People Platform Product Process
What is Social CRM (SCRM)
Social CRMMultiple company touch points
• Communication (PR and Marketing) driven by social data
• Sales driven by social data
• Product Development driven by social data
• Customer Service driven by social data
What is Social CRM (SCRM)
Basic Principals and MechanicsProcess is dictated by department and goals
People Platform Product Process
Sale
sM
arke
ting
Serv
ice
There is no ‘one size fits all’ approach.
Planning: Preparing for SCRM
Planning: Preparing for SCRM
Step Back: Who Are YouUnderstand the core value drivers for your organization
Newsweek.com ArkeSystems.com
Focus on online content consumer
Site traffic hugely important, understanding visitors
No 1-1 direct sales
Heavily marketing based
Enterprise
Focus on complex sales, B2B
Site traffic heavily direct, few search visitors
All 1-1 direct sales
Heavily sales based
Small business
Planning: Preparing for SCRM
Planning is ImportantAsk the right questions and get everyone involved
Who are all the different people that need to be involved?1
What are your priorities and goals?2
What does your platform stack need to look like?3
What does your product stack need to look like?4
What are the right processes that need to be put in place?5
How are you going to measure return and constantly improve?6
Planning: Preparing for SCRM
Involve the Right PeopleDon’t start from scratch, there’s already equity
• Work has already been done, you just need to uncover it
• Lead the charge; integration and communication are key
• Form committees and teams, have an open planning process
Sellers wanted iPad apps
Using their personal iPads in the field
Teams collided
Data and productivity lost
Planning: Preparing for SCRM
Priorities and GoalsDetermine the most important goals, by department, for a social CRM plan
Reputation Management
Lead Generation
Community Building
Branding
Customer Service
User Engagement
Recruitment / HR
Thought Leadership
Product Development
SOCIAL GOALS
Planning: Preparing for SCRM
Platform StackWhat is the right set of platforms for your organization
People Platform Product Process
Sale
sM
arke
ting
Serv
ice
Planning: Preparing for SCRM
Product StackWhat is the right set of products for your organization
People Platform Product Process
Sale
sM
arke
ting
Serv
ice
Planning: Preparing for SCRM
ProcessesProcess and structure are keys to a successful implementation
People Platform Product Process
Sale
sM
arke
ting
Serv
ice
Planning: Preparing for SCRM
ProcessesProcess and structure are keys to a successful implementation
• Your biggest risk is that your team doesn’t know how to use the tools.
• Process is the most difficult component to implement and maintain.
• Lead from the front.
• For example:
• Sales – ensuring sellers know how to get the right info
• Customer Service – enabling reps to uncover issues hidden in the social graph
• Marketing – generating leads from social sources
Planning: Preparing for SCRM
ExecutionSuccessful execution will lead to meaningful results
Consider working with a partner or agency to choose the best tools and successfully implement them
Sitecore CEP Broadlook Click Dimensions
Execution: Sitecore
Execution: Click Dimensions
Execution: Broadlook
Don’t be scared of social media, embrace
it as a tremendous opportunity.
Campaigns
Campaigns
CampaignsFocus on your goals; focus on iterations
• Campaigns should boost results towards goals, in-line with social lifecycle
• Iterative approach (Discovery Driven Planning)
• Consider A/B testing
• “Social then Search” Problem• and how CRM can solve it
Campaigns
Social LifecycleDetermine where you are and what goals you are targeting
1. Build fans
2. Engage fans
3. Encourage Spread
4. Retarget & SEA
5. Integrate Offline
Iteration Feedback Loop
Measure returns and determine next
iteration
Integrate information into
the sales & marketing process
Analyze and process
informationCollect Information
Iterate
Campaigns
Discovery Driven Planning A/B Testing
Measuring Results
Measuring Results
Tiers of ResultsTrack different metrics that lead to conversion
1. Valuing your cost savingsa) Gains in productivity, testing, development
2. Valuing your social assetsa) CPM model vs. book value
3. Valuing conversion activitiesa) Measure each step towards the bottom line
4. Valuing bottom line effectsa) Sales
Measuring Returns
An Alternative Viewpoint: Avinash KaushikConversation, Amplification, Applause, and Economic Value
Conversation: Conversation Rate = # of Audience Comments (or Replies) Per Post
Amplification: Amplification = # of Shares Per Post
Applause: Applause Rate = # of Likes Per Post
Economic Value: EV = Sum of Short and Long Term Revenue and Cost Savings
Measuring Results
Return on Investment (ROI)Every organization has it’s own understanding of ROI and ROI goals
• Models like IRR, CLV, and NPV are very useful• However, they rely on the right data
• Don’t be dominated by ROI, it’s not all tangible
• Measuring impression value is easy, what about engagement value? Or the value of an integrated system that automates engagement?
• Measuring returns in the face of change and uncertainty
• Get started now, figure it out along the way, don’t play catch up• There is no case where less data is better
Measuring Results
ROI is a multifactor equation, that
depends on you.
The Future & Next Steps
The Future
The FutureUncertainty and blue sky
• This is a new field. It will change and evolve greatly.
• The landscape is forever changing. MySpace vs. Google+
• Facebook wasn’t the first. Right place at the right time…
• Personalization, automation, and “mocial”
Next Steps
Next StepsGet going, opportunity is passing you by
What we haven’t talked about
• Mobile
• Analytics
• Deep tactics
• Technical
Start writing a plan1
Get everyone involved2
Find outside support3
Go do it.
Next Steps
ResourcesYou should check all of these out
1. Social Media Leadership by Michael Lewis
2. Best Social Media Metrics: Conversation, Amplification, Applause, and Economic Value by Avinash Kaushik
3. Social CRM for Dummies (whitepaper by Emailvisions) by Amita Paul and Johanna C. Nilsson
4. Altimeter Report: The 18 Use Cases of Social CRM, The New Rules of Relationship Management by Altimeter Group