TCC_NewTrendsInCRMeBook - CLC

8/3/2019 TCC_NewTrendsInCRMeBook - CLC

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Brought to you by

New Trends in CRM
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Part:

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New Trends in CRM

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4 IntroductionDave Brock |President and CEO, Partners in EXCELLENCE

8 Part 1:Exceed Your Sales ExpectationsDavid Tyner |Director of Sales, KinetiCast

12 Part 2:Triple The Effectiveness Of Your Best Sales PeopleBen Bradley |Managing Director, Macon Raine

15 Part 3:How Social Media Are Ruining Your Lead Qualifcation StrategyCharles Green |Founder and CEO, Trusted Advisor Associates

18 Part 4:Use Social CRM to Improve CommunicationsCheryl Hanna |Blogger, Service Untitled

20 Part 5:Is Social CRM Compatible with Enterprise 2.0?Esteban Kolsky |President, thinkJar

22 Part 6:Four Experts On How To Turn Social Media Into SalesJ.D. Lasica |CEO, Socialmedia.biz


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Part:

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Customer relationship management (CRM) sotware and

so-called Sales 2.0 tools have been hot topics in the

sales community or many years. Salespeople usually

sco at CRM: Its just managements way o looking

over my shoulder at everything I do. Or: Spending

all this time updating the system just takes away rom

my selling time. Does management want me to be an

administrator or a salesperson?

From sales managements view, the complaintstake another tack: Weve spent so much money in

implementing our CRM system, but we still arent

getting the results we expected! The picture gets

even cloudier when marketing olk start to leverage

CRM data, integrating their marketing tools with

the sales tools. Arguments, nger pointing, and

excuses prolierate.

Im not one to back away rom a heated discussion,so heres my two cents: I cannot imagine an individual

or organization wanting to perorm at the highest

possible level without leveraging these tools to

their utmost! The tools give sales and marketing

proessionals the capabilities to:

Engage their customers in new ways.

Gain additional insight into customers, markets,

and prospects.

Get important eedback about their own products,

the competition, or their companys perormance.

Improve personal and organizational productivity

or eciency.

I these are not sucient reasons to delve more deeply

into CRM, here is another view: Your customers andprospects are leveraging CRM tools, the Web, and social

buying more than ever. The importance o these tools

and their utilization by customers will only increase in

coming years. I we are not intercepting our customers

and prospects where they are, we are going to be

missing more and more opportunities.

This e-book oers a variety o provocative perspectives

rom thought leaders. They are designed to helpyou think about leveraging CRM and related tools to

achieve concrete results.

Too oten I nd that discussions about CRM, SCRM,

and all the other alphabet combinations miss the point.

These conversations ocus on the tools, when in

reality the tools are simply enablers and not ends

in themselves.

IntroductionDave Brock |President and CEO, Partners in EXCELLENCE

Continued on next page

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The articles in this collection ocus on crucial

questions such as:

What are your business strategies and priorities?

Who are your customers? Why do they buy, and how

do they buy? How do they want to be engaged?

What role does each part o the organization

(particularly sales and marketing) play in engaging

and communicating with the customer?

How do marketing and sales integrate more

eectively in the new buying environment? How

do you reocus marketing and sales, ocusing oncollaboration and eliminating the traditional silos?

How do you create value or your customers? How do

you create a compelling and dierentiated customer

experience?

What are the key drivers to perormance in your

organization? How do you build your processes

or dene roles and responsibilities to optimize

perormance? How do you measure and track

perormanceboth within your organization and interms o your customers?

Until you answer these questions, its impossible to

get the greatest value rom CRM, SCRM, Sales 2.0,

or whatever other tools you might be using. But i

you take the time to articulate your strategies and

priorities, then these tools can dramatically improve

your organizations productivity and eciency.

David Tyner oers a view on sales orecasting accuracy

in Exceed Your Sales Expectations. An expectation

o every buyer o a CRM system is dramatically

increased orecasting accuracyater all, with all this

inormation in the system, wont orecasting accuracy

be improved? David suggests the challenge is not the

system, but the underlying methods that organizations

use to assess the likelihood o winning a deal. He

suggests that our error is grouping all prospects into

a single category and treating them the same. David

provides an alternative approach by dierentiating thetype o prospects and how to work with each type.

In Triple The Eectiveness O Your Best Sales People,

Ben Bradley oers insight on how to organize and

integrate your sales and marketing more eectively.

Improving ocus, decrapiying marketing, developing

core competencies around lead generation, and

leveraging data in more comprehensive ways can all help

improve the eectiveness o your people, reeing themup to ocus on interacting directly with customers.

The role o the salesperson is changing. Additionally,

the role o marketing and how we qualiy leads is also

changing. Charles Green talks about this in How Social

Media Are Ruining Your Lead Qualication Strategy.

All the old rules and assumptions on which we base

our traditional lead generation programs must change


Introduction(contd)

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in the social world and with social customers. As

Charles points out, this is actually goodas long as we

recognize the changes and leverage them in our lead

generation programs. Social media oer us tremendous

advantage in reaching out to customers, engaging

them, leveraging their conversations, and generating

leads in new ways.

In Using Social CRM To Improve Communications,

Cheryl and Douglas Hanna explain how todays social

CRM systems invite customers to interact directly withthe company, helping us engage and communicate with

customers and prospects.

Esteban Kolsky shits the conversation rom technology

to goal alignment, collaboration, and integration in

Is Social CRM Compatible With Enterprise 2.0? This

is an important discussion because the whole point

o all this technology is to help us reach our goals o

engaging and working with customers and prospects.The best way to maximize the capabilities o these new

tools is to dene strategic goals and then leverage

technology platorms in support o strategy.

When I talk to executives about incorporating social

media and networking into the marketing and sales

programs their organizations conduct, I always get

the question, How do we turn our investment

in social media into sales and orders? In his essay

Four Experts On How To Turn Social Media Into Sales,

JD Lasica synthesizes the views o leading social

media practitioners.

How many times have you wished that you knew what

your customers thought about a given issue? In theold world, you might have done some market research

or convened a ocus group. These methods tended to

be limited, expensive, and slow in yielding results. In

todays world, all you have to do is listen/engage/ask.

I started this discussion with the bold statement,

I cant imagine any high-perorming individual or

organization not leveraging these tools to their

utmost. The articles in this e-book are just thebeginning o the discussion.

Read these articles and discuss the ideas inside your

organization. Then start staking out your strategies

and positions in the new worlds o marketing, selling,

and buying!

Introduction(contd)


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Introduction(contd)

Dave Brockis President and CEO o Partners In

EXCELLENCE, a global consulting company ocused on

helping organizations achieve the highest levels o

perormance in sales, marketing, customer service,

and business strategy. He helps individuals and

organizations develop and execute strategies to

outPerorm, outSell, and outCompete their competition.

Dave is an internationally recognized speaker,

writer, and thought leader in leadership, sales, value

propositions, marketing, strategic alliances and

partnering, business strategy, and management.@davidabrock

www.partnersinexcellenceblog.com

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http://twitter.com/davidabrockhttp://partnersinexcellenceblog.com/http://partnersinexcellenceblog.com/http://twitter.com/davidabrock


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Exceed Your Sales ExpectationsDavid Tyner |Director o Sales, KinetiCast

Part 1:

Have you ever had a sales manager tell you that he was

unhappy with how long prospects were lingering in your

sales pipeline? I so, please orward this to him.

Look at any CRM system and youll nd plenty o

common elements. They include elds or sales stage

(with a deault w in probability), expected close

date, and expected revenue. Using these elements,

management typically orecasts by discounting the

expected revenue based on the win probability (per thesales stage) and organizing opportunities according to

expected close date. Thus management has an idea o

what it can expect in terms o revenue over the next

several months. This is all very basic Sales 101 stu,

but is oten the source o unmet expectations between

sales managers and their sales orces.

Disconnects between sales orecast and subsequent

sales perormance usually arise because w in probabilityis tied to the sales stage o the opportunity. For

example, i an opportunity is identied, it has a

10 percent chance o closing; i its contacted,

20 percent; qualied, 50 percent; and proposed,

67 percent. It is my experience that, when looking at

sales pipelines rom a macro perspective, the source o

the lead is the single best indicator o how long a lead

will remain in your pipeline and the likelihood that it

will survive to become a happy customer. Thereore, I

suggest that you dene the lead source at a very high

level. In my CRM system, I have just three dierent

lead sources. They are:

Seekersthese are prospects that seek you out

Soughtthese are prospects that you seek out

Suggestedthese are prospects that were reerred to you

It is important to think o these categories when

engaging with your prospects, orecasting your

pipeline, and managing sales expectations.

The SeekerOn the surace, this prospect appears to be the best.

Ater all, she is most like your mother in that she

recognizes just how special you are. She has

demonstrated admirable wisdom by successullyidentiying you as someone who can potentially

solve her particular problem. Perhaps she looked you

up through a web search, ound you through social

media or just somehow innately knew that you were

the (wo)man! More likely, she is using one o your

competitors and has decided, or one reason or

another, to contact you.


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Unless you represent the clear-cut industry leader, the

notion o a prospect seeking you out should actually

be cause or some concern. It should raise a red fag

or you when companies look to spontaneously replace

their current vendor. I they were a good customer,

paid their bills on time and worked in partnership

with their current vendor, why would they be looking

elsewhere? I they were indeed a good customer and

the incumbent vendor were moderately competent,

that vendor, its sales team, and customer service stawould be bending over backwards to make sure their

good customer was happy.

Case in point, I was once contacted by one o my

competitors largest customers. They called me in or

a meeting and already had all o the inormation I

would normally solicit waiting or me, accompanied

by a list o one-sided, ridiculous demands. Against my

recommendation, our company met their demands orreduced pricing and extended billing cycles as well as

some other one-sided concessions. They quickly became

my ourth largest customer rom a revenue perspective.

Frankly, I looked like a hero or the quarter. However,

the stringent requirements o this customer caused me

to have the lowest year-over-year growth o my sales

career! My prospecting time was diminished and time

spent with protable customers was cut. I was not

able to methodically sell and produce the right kind

o business.

Eventually, the reasons why this company let its

incumbent supplier became painully obvious. In an

unprecedented move, I presented a business case or

why our company should re this customer and no

longer do business with them. We gave them 30 days

to nd a new vendor. Despite the loss o this revenue, Iwas able to sell ar past the decit and ended up in the

top 1 percent among all sales people globally or my

company. I still say that my best and most protable

sale that year was selling my company on the idea o

cutting that customer loose.

The moral o the story: be very cautious when a

prospect seeks you out. Find out why they have sought

you out. Be very slow to give concessions. Mostimportantly, establish a balanced, open communication

system with them so that they view you as a respected

partner and not a pawn.

The SoughtThe Sought are the most challenging and have, by ar,

the lowest conversion rate. However, these prospects

Exceed Your Sales Expectations(contd)


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are the key to success or the B2B sales elite. I you

want the highest quality leads, you have to seek and

engage them or yoursel. No one knows more about

your products strengths and potential or success than

you. No one knows more about the types o businesses

that will have a painul problem that your company

can solve. No one is as invested in wanting to close

the right kind o business than you are! This is the

prospect you are cold-calling, sending more inormation

to, and trying to get time with in order to engage theright buying infuences.

The big challenge with these prospects is that they are

extremely dicult to accurately orecast in your sales

pipeline. A symphony o sales activity must take place,

rapport built, relationships established, knowledge

exchanged, and persuasion gently applied. Ater rst

contact, the entire sales process must be executed

with fawless precision. Keep in mind that this prospectmay shut you down at any time because, ater all,

they did not seek you out. Unlike The Seekers and

The Suggested, The Sought have no initial reason to

engage with you.

Oten The Sought will tell you that they are happy with

their current supplier. To that, my response has always

been, I you are happy with them, wait until you get

a load o me! O course Im kidding, but seriously, the

act that they are happy with their current supplier is

some o the best news you can hear. It may have more

to do with their being a perect customer than their

supplier making them happy. Your job is to get to the

right person or people with the r ight message at the

right time.

The SuggestedThese are relatively rare in B2B sales. When you can

get them, they can be antastic. Though not always

an easy sale, they represent the opportunity to work

rom a position o mutual, proessional respect.

Unortunately this is uncommon at the beginning o

a sales cycle. The main challenge with The Suggested

is that they are oten not properly qualied.

I recommend that you try to introduce as many othese prospects into your pipeline as you possibly can.

Sources can include your own marketing department,

current clients, social media, and your oldest and

dearest riends. The B2B sales elite treats all prospects

with the utmost proessionalism. However, its

especially important to go the extra mile with these

prospects. Remember, your actions refect not only on



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you but on the person that reerred you. I you do your

job well, you will have done the person who reerred

you the business a avor by making them look very

smart or recommending such an outstanding company

and sales proessional. Lastly, make sure you report

back the results to your reerral source and, i possible,

reciprocate by providing them with leads as well

(e-mail me and Id be glad to share some ideas on how

best to do this).

Realizing that there are salient dierences among

the types o prospects is one o the rst steps in

understanding a sales pipeline. In reviewing potential

sales opportunities, as a sales manager, how did they

get here? should be one o your rst questions. This

will help you manage actions and exceed expectations.

David Tynerhas 18 years o experience as a top-

level perormer in sales and operations. He has been

a perennial Presidents Club member throughout his

career. Currently, Dave serves as the director o sales or

KinetiCast, the simple, powerul, and proven online sales

presentation tool or the B2B sales elite. As the director

o sales, he helps sales people and sales organizations to

exceed their quotas. He is the author o the KinetiCast-

sponsored Sales Salve blog and has been eatured as

a guest author or many top sales blogs. Dave lives inupstate New York with his wie and their two daughters.


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When did the job o selling get lumped in with

everything else? Asking a great sales person to clean

CRM data, lick envelopes and turn over rocks looking

or prospects is not a good use o skills, time or money.

Maybe this is why CSO Insights reported that only 52%

o sales reps met their quota in 2009?

Selling is the management o a very complex business

process. It is complex because customers arent

predictable and they dont always act reasonably.They need sales because they value the continuity o

contact. Customers cant have a relationship with your

brand; they need a person to have a relationship with.

Do the math: a top closer with a $2 million

annual quota creates value worth $1000 per hour

($2,000,000/2000 hours=$1000/hour). Asking your top

relationship managers to turn over stones looking or

leads and updating CRM is costing your organizationbig. Prospecting is expensive.

In the 2010 Miller Heiman Sales Best Practices

Study, ewer than one out o ve study participants

reported using a prospecting plan. Yet, a ull three

quarters o top-perorming sales organizations said

they were consistent in this activity. There is a

disconnect somewhere.

At some point, as your sales organization grows, youll

nd it more cost eective to insert specialists into

the process rather than ask your closers to manage the

entire process. To triple sales, instead o tripling the

size o the sales organization, the smart money looks

or ways to triple the e ectiveness o the best closers.

So how should you do this? What is the astest way to

break away rom the old habits and build new, scalable,

repeatable and aordable processes or creating newsales opportunities or your best closers?

The frst task is the task o defnition: Dont ght it

anymore. Go ahead and ignore the marketing purists

who believe sales and marketing are dierent. For you,

now, as you think about taking the next step in the

evolution o your sales organization and as you try to

stretch your very limited budget, the job o marketing

is to create new opportunities or sales. Period. Theend. The job o sales is to careully manage those

opportunities and relationships until they are ready

to become customers and provide eedback on ways to

streamline and improve the marketing activities.

Get on the same page. Get on the same page with

what a customer actually looks like less than a third

o Miller Heimans study participants agreed that their

Triple The Eectiveness O Your Best Sales PeopleBen Bradley |Managing Director, Macon Raine


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sales and marketing organizations were aligned in what

their customers want and need.

Decrapiy your marketing: A January 2009 Customer

Experience Panel conducted by IDC Global asked which

o the ollowing is the #1 thing a rep can do to improve

the value o your relationships with the sales team and

the vendor they represent? More than 40 percent o

respondents said: Put aside the generic sales pitch.

This meansit is okay to go o message or o-brandas you help your people build sustainable relationships

with your customers.

Give sales people time to do what they do best:

It is easy to under-estimate the amount o work

required to convert a qualied lead into a sale. From

justiying ROI, recruiting and coaching an internal

champion, managing expectations and competitive

positioning, the skills required or successul sellingare very dierent rom the skills required or successul

prospecting. Expecting the same person to excel at

both is unreasonable.

Lead generation must become a core competency:

Cold calling, trade shows, advertising and other big

marketing tactics still work or lead generation.

However, the time is not ar away when a consistent

program o long-tail content, SEO and word o mouth

marketing will become your primary source o leads.

The time is now to star t understanding this reality and

begin preparing your organization or the inevitable.

Simple data matters: In B2B, it doesnt take a rocket

scientist to know that you cant sell something to

someone unless you know their e-mail, title, mailing

address, company aliation, and phone number. In

other words, you cant sell something to someoneunless you know who they are. Getting the right data,

keeping the data clean and cultivating the contact

data until the prospective customer is ready to have a

conversation matters more than most think. I you love

your data, your data will love you back.

Slightly more complex data is even better: Once

your data is clean, you are then ready or the big time

with lead scoring and modeling online body languageby tracking a prospects visits to the website, webinar

attendance, downloads and other behavior to determine

the best times to enage the sales team. You cant do the

un stu until you get your data under control.

How many net new names did you add to the CRM

each month? Dont be content with the existing

database. Every month there should be a concerted

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Triple the Eectiveness o Your Best Sales People(contd)

eort to bring new names into the CRM. Even i you

have a huge fow o inbound leads into your website

each month, the acquisition o new names ensures your

marketing remains proactive as you hunt or new

key accounts.

The type o person who is comortable cleaning data,

who understands key account selling and is happy

being the guardian o data is very dierent rom the

type o person who is happiest in ront o customers.It may be the best qualied person or this role is

not a sales person at allbut rather a specialist that

understands the tools and techniques o marketing

AND selling.

Ben Bradleyis managing director o Macon Raine,

a public relations and marketing agency. Known or

wearing plaid and sweater vests beore they were

popular, he writes about the intersection o marketing,

technology, and business. As an avid indoorsman, his

primary interests include technology adoption, change

management, micro-fnance, network and physical

security, collaboration, networks, and groupware.

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You may have noticed it already, or it may be lurking in

the background. Youll see it soon enough.

Your traditional lead qualication methods are under

attack rom new social media. And that is not a bad

thing: its a good thing. As long as you recognize it.

Traditional Lead QualifcationTraditional lead qualication strategies are based on

two implicit assumptions. First, that there is an innite

number o leads. Second, that those leads are largely

independent o each other.

The combination o those assumptions leads most

businesses to think o lead qualication as an exercise

in eciency. Heres a sample quote rom one lead-

qualication vendors website:

your selling assets can spend their valuable

time selling to prospects that have the need,

the budgets and the necessary decision making

ability to purchase. No longer will your sales

arm have to waste time failing around trying

to nd the gold nuggets within an inquiry pool.

In other words: the goal o most approaches to lead

qualication is to get rid o those least likely to buy,

in the least costly manner possible. And as long as the

two implicit belies hold truethere is an unlimited

number o leads, and they are all independent o each

otherno problem.

How Social Media Changes the GameEnter new social media. Suddenly assumption number

one looks nave. It always was nave; we all knew in

the back o our minds it was nave, but we could aord

to ignore it. But now that you can slice and dice data

about potential customers in innite ways, the nite

nature o that number appears much more clearly.

Yet the real killer is assumption two. The whole point

o all social media is that they are, in act, social.Your customers talk to each other. In a nutshell, thats

the revolution.

As I heard SAP put it a ew months ago, CRM systems

used to capture all the dialoguebetween seller and

customer. Only now, theyve realized that was only

5 percent o the real dialogue. The other 95 percent

o the real dialogue happens between customers.

How Social Media are RuiningYour Lead Qualifcation StrategyCharles Green |Founder and CEO, Trusted Advisor Associates


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How Social Media are Ruining Your Lead Qualifcation Strategy(contd)

Charles Greenis an author, speaker, and world expert

on trust-based relationships and sales in complex

businesses. Founder and CEO o Trusted Advisor

Associates, he is author oTrust-based Selling and

co-author oThe Trusted Advisor. He has worked with

a wide range o global industries and unctions. Charles

works with complex organizations to improve trust in

sales, internal trust between organizations, and trusted

advisor relationships with external clients and customers.

He spent 20 years in management consulting. Hemajored in philosophy at Columbia University and has

an MBA rom Harvard. A widely sought-ater speaker,

he has published articles in Harvard Business Review,

Directorship Magazine, Management Consulting News,

CPA Journal, American Lawyer, Investments and Wealth

Monitor,andCommercial Lending Review, and is a

contributing editor at RainToday.com.

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Customer Relationship Management began as a

process to help companies manage their customers

and potential customers using a database ull o

inormation about their buying habits. It helped

companies maintain and improve customer relationships

and hone in on the most successul and promising

target audiences. From there an organization could

concentrate on potential new sales, support, and

marketing strategies to retain customers and nd

new ones.

Now we have progressed to Social CRM, which takes

the original CRM concept and adds new communication

channels via the social web, all with the goal o

creating better customer relationships. No longer

do customers just call and speak to customer service

representatives; customers speak to each other,

comment on articles, research common opinions,

and blog. The emergence o social media orcescompanies to track what is being said about them and

who is saying it. When a company isnt aware o public

sentiment, clients and customers may perceive that

the company just doesnt care enough to respond.

A recent Nielsen survey ound that Twitter is

the primary online communication medium today.

Twitters unique visitors have increased 1,382

percent since 2009. So why not use this popular line

o communication to positively engage customers

and build trust and brand loyalty? Here are some

suggestions to help you leverage Twitter and Social

CRM generally:

Brand AuditingBe aware o what is being said

about your companys brand. Watch criticism, review

eedback, and pay attention to marketing successesand ailures.

Making the Personal ConnectionSmart salespeople

have always gathered personal details about their

customers. They have always used this inormation

to deepen relationships with clients by sending them

birthday cards, communion cards, avorite chocolates

and the like. But now we have the Get Social Twitter

Pro Module, which helps companies leverage customerrelationships by tracking a clients last 20 Tweets

to develop insight about the clients lie and

daily activities.

Market TrackingCompanies can track users and

consumers who love a product but arent necessarily

customers o a particular brand. For instance, I have

Use Social CRM to Improve CommunicationsCheryl Hanna |Blogger, Service Untitled


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Use Social CRM to Improve Communications(contd)

a Keurig coee maker which I nd incredible, yet I

was not the purchaser. Still, positive consumers like

me are potential customers.

Company SupportSocial CRM systems can track

keywords and give continued support about a

product. When someone rom the company is

listening, angry customers can be immediately

identied and reerred to a customer service agent

who can act upon negative comments and avoidpotential damage.

Practicing Social CRM invites customers and clients

to interact with a company and manage customer

relationships with more success while saving money

rom potential unknown re storms and risking the

loss o valuable customers.

Cheryl Hannais a real estate agent and reelancewriter living in South Florida. She writes about

customer service and the customer service exper ience

atwww.serviceuntitled.com. You can email her at

[email protected] or see her posts atService Untitled.

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At a high level, Social CRM vendors and Enterprise 2.0

vendors are pitching the same product.

They use similar words: collaboration, share,

engagement, conversation, and social (oops, maybe not

all the same words). The concepts o what they deliver

are very similar as well: collaborate with customers to

build a better business, collaborate with employees to

build a better business.

Unortunately, that is where the similarities end.

As strange as it may sound, I have encountered no

Enterprise 2.0 initiatives that have actually made

direct contact with the customer. Almost as i doing

something or them is sucient and talking to them

would ruin it. In spite o all the talk o customer-

centricity, the Enterprise 2.0 projects are still pretty

much company-centric.

The reverse o the coin is not much better. CRM and

Social CRM projects have been bragging about their

customer ocus or quite some time as well. They point

to dierent implementations o Customer Experience

Management or similar CX initiatives as proo that they

care about the customer.

Talk is cheap. Wihle CRM and Enterprise 2.0 initiatives

oten gather customer eedback, that eedback is

seldom used or even understood. Whatever good

intentions are present in trying to make CRM and

Social CRM more customer-centric, vanish in the reality

o implementation.

Hmmm. Maybe, just maybe there are similarities we can

work on.

The two initiatives want to be customer-centric,

both want to be more collaborative, and both are not

getting it right the rst time around. Maybe, just

maybe

Compatibility through goals? Sure.

As a matter o act, the proposal o building a social

business on the way to creating a collaborativeenterprise relies on that compatibility o goals. The

concept o creating a shared platorm where customers

and organizations can work together to create a better

process that will deliver greater value to both o them

is not fawedit has been proven to work quite well.

Organizations that work jointly with their customers,

giving them access to the necessary systems as i they

were employees, tend to have happier customers.

Is Social CRM Compatible with Enterprise 2.0?Esteban Kolsky |President, thinkJar


Part 5:

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Part:

21

Is Social CRM Compatible with Enterprise 2.0?(contd)

There is something to that idea

Is compatibility o goals the only area where

Social CRM and Enterprise 2.0 are pulling in the

same direction?

I you dig a little deeper, the two projects leverage

similar tools. Features, bells, and whistles may vary

rom one camp to the other. But at the core, the basic

unctions are the same.

Collaboration, Integration, and Platorm-driven

development are the same whether you are talking

about customers, consumers, partners, or employees

and unctions. The jobs may dier, but the tools

used and the systems and platorms they rely on are

similar. Vendors have not explored these similarities

in details. Its here that the promise o collaborative

enterprise shines.

We have similar goals, similar inrastructurewhat

about similar operating pr inciples?

This is going to be the critical point in blending these

two disciplines going orwardhow they operate so

that all stakeholders benet, while building value or

the organization.

Convergence will be less about technology and

goals, those are easy, and more about making it

all work together.

Dont you think?

Esteban KolskyEsteban Kolsky is the ounder o

thinkJar, a consultancy and think tank specializing in

helping vendors develop better enterprise applications

and users create awesome strategic customer exper iences.

He previously was an analyst with Gartner, researching

customer service and customer experience, and assisted

with the planning and deployment o several hundred

CRM, call center, and contact center solutions or Global

2000 organizations.

Today he continues to help vendors and organizations

to improve their relationships with customers andis recognized as a thought leader in the areas o

collaborative enterprise, social business, social CRM, and

all matters related to customer interaction management.

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Part:

22

One o the enduring questions in the social media

landscape is: Can we really use social tools to move the

needle nancially? That topic was met head-on recently

at an event in San Francisco titled How to Turn Word o

Mouth and Social Media into Sales.

Here are some takeaways rom the speakers remarks at

the sold-out gathering:

Who:Becky Brown, Director o SocialMedia Strategy, Intel

Comments: The brand advocacy

program is a huge part o how we

measure social media success at

Intel. We listen to infuencers who

are talking about Intel. The company uses two main

social media tools: Radian6 to measure sentiment

and Objective Marketer to manage campaigns. Be

resourced, Becky said. Use employees and advocatesand agencies.

She said it was important to use listening tools to

nd people who are not your brand advocates, who

are negative advocates. And take it on yoursel. You

cannot ask an agency to read all your posts or you.

You cannot get college grads to handle your Twitter

account. These are real customers talking about your

brand, so engage with them directly. I dream o a day

when I have a team dedicated to positive and negative

responses on these networks.

(Disclosure: Im a member o the Intel Insiders social

media advisory group.)

Who: Tony Lee, Vice President o

Marketing, TiVo

Comments: Summed up the credoo Silicon Valley well: I youre not

ailing quickly, youre not doing an

interesting enough experiment. Take

chances. Launch multiple programs and initiatives.

TiVo stands traditional marketing on its head w ith

its decision to incentivize and reward its long-time

customers over newcomers just coming into the

showroom foor. We now give our best deals to ourbest customers. (Yay! Ive had two TiVos since 2004

and wrote about the company in my book Darknet.)

Your customers arent stupid. There are times when

you need to listen. I a customer is screaming and

rude, others will understand. Its OK to ignore people

who are rude.

Four Experts on How to Turn Social Media into SalesJ.D. Lasica |CEO, Socialmedia.biz


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Part:

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Four Experts on How to Turn Social Media into Sales(contd)

Who: Rob Fuggetta, CEO, Zuberance

Comments: Rob cited a company

that assayed customer loyalty with

the ultimate question: How likely

are you to recommend our brand

or product to a riend? Customers

responding 0-6 were considered a detractor; 7-8 a

passive; 9-10 an advocate.

Great advice: Rob told brands to involve customers byinviting them to respond to questions and make it

easy or your advocates to engage with your brand.

He pointed to a campaign by HomeAway, a vacation

rental site, and said that its success lay in interactions

with its communitywe just gave them a way to

connectrather than oering giveaways or ree T-shirts.

He pointed to a lawsuit just brought against

TripAdvisor, which was sued or deamationbecause, the litigants alleged, the hotel guests

posted inaccurate reviews. Audience reaction?

Overwhelmingly on the side o TripAdvisor and the

unettered fow o opinions, right or wrong.

He talked about a $20,000 investment by ClubOne that

led to a $180,000 return69 percent o participants

in a 14-day ree oer brought a orm into ClubOne to

try out a membership, and 15 percent o those people

purchased memberships. You can measure with great

specicity the results you get rom social marketing.

Final words o wisdom? Put in $1 and get $10 back

by launching a word o mouth campaign that stokes

genuine conversations about a product or service. This

is earned media, not paid media, where abrication

and marketingspeak hold sway.

Who: Michael Brito, Vice President oSocial Media, Edelman Digital

Comments: Michael underscored the

dierence between a brand infuencer

and an advocate. Advocates are talking

about your brand even i you ignore

them. Infuencers, or the most part, require incentives.

They oer insights into a product in exchange or a quid

pro quo, such as access to write a story.

It all comes down to trust. Edelman issues an annual

trust barometer, where publishers and journalists are

high on the list (rst time Ive heard that in a decade!)

while marketers are not. I you look at your advocates

across the Web, their reach is much greater than being

eatured on the ront page o TechCrunch, he said.

Listening and doing nothing is worse than not listening

in the rst place.


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Part:

4 Experts on How to Turn Social Media into Sales(contd)

J.D. Lasica,one o the earliest social-media strategists,

is a consultant to Fortune 1000 companies as well as

mid-size companies, startups, and nonprofts. He is widely

considered one o the worlds leading authorities on

social media and the revolution in user-created media.

J.D. is chie executive o Socialmedia.biz, wrote the book

Darknet, about emerging media, ounded Ourmedia, the

frst (ree) video hosting site, and speaks at a wide range

o conerences. J.D. lives in the San Francisco Bay Area.

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