Crm and social media white paper

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  • CRM and Social Media WhitePaperPresentedat:CRMBusinessRevolution,Aug2324,2010,AsiaBusinessForumGrandCopthorneWaterfrontHotelSingaporeRolandHorExecutiveConsultant,CatalystConnectorEmail:rolandhor@catalystorigin.comWeb:www.catalystconnector.com

  • RolandHor CatalystConnector

    2 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    IntroductionThisdocumentisaimedatprovidingageneraloverviewoftheconfluenceofCustomerRelationshipManagementandSocialMedia.ThetopicsthatIwillbecoveringare:1. TrendsforCRMandSocialMedia2. SocialmediaapplicationsandtoolsforCRM3. Measuringandmonitoring4. SocialmediaforCRMusecasesTrendsforCRMandSocialMediaBrowsingthewebrecently,InoticedanarticlewiththetitleofNobodywantstohearaboutCRManymore.Onfurtherinvestigation,IdiscoveredthatsomeoneintheCRMindustryutteredthisphrase.ItwasRightNowTechnologiesCMOtryingtoexplainwhyhiscompanyhasrepositionedawayfromtheUS$13bnCRMindustry.RightNowisquiteaprominentondemandCRMcompany.IamfamiliarwithRightNowasitwasoneofmycompetitorswhenIwasworkingintheSaaSCRMbusiness.Soamovelikethismustcertainlyhavebeenthethoroughlythoughtthrough.Anyway,hispremisewasthatthekeyissuenowisCustomerExperience(CX),poweredbyablendofsocialmediaandknowledgemanagement. ThereissomuchhistoryofCRMbeingtheinternalsystemofyoursales,serviceandmarketing,as

    opposedtoacustomerinteractionenabler,thatallofthishistorywasconstrainingtheconversationandevenconstrainingpeoplesthinkingaboutwhatsystemscoulddotoenabletheirinteractions."

    Thetippingpointwastheemergenceofnew,excitingthingssuchassocialmedia,knowledgemanagementandfeedbackmanagementthatweredevelopingaroundCRMbutwerenotviewedaspartofitbythemarket.

    ThisisfurtherillustratedbySAPsrealizationthat:CRMsystemsusedtocaptureallthedialoguebetweensellerandcustomer.Onlynow,theyverealizedthatwasonly5%oftherealdialogue.Theother95%oftherealdialoguehappensbetweencustomersThedriverofthischangeisSocialMedia.Forthepurposesofthistalk(sinceweareinaCRMConference),IllrefertothischangeasmovingfromCRMtoSocialCRM.

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    3 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    SocialCustomerCustomerEcosystemThisparadigmshiftisbroughtaboutbythehypergrowthofallthestuffcomprisingthesocalledWeb2.0blogs,wikis,otherusergeneratedcontentandsocialnetworksetc.ManypresentationsandstatisticsareavailablethatregaletheriseofsocialmediasoIwontdothathere.Justtosetthestage,heresagoodvideosummaryofwhatIamreferringto..InthemostrecentversionofhisbestsellingbookCRMattheSpeedofLight,FourthEdition:SocialCRMStrategies,Tools,andTechniquesforEngagingYourCustomers,PaulGreenberg(alsoknownasTheGodfatherofCRM)explicatedlucidlywhatisgoingonwithCRMandSocialMedia.HedescribedtheSocialCustomerandCustomerEcosystem.Users(readcustomers)haveveryrapidlybeenempoweredviathegrowthoftheinternet: abilitytocommunicateviatheInternetwithcompletestrangers usersoftheproductsnotonlyknewmoreaboutthoseproductsthanthemanufacturerswhomade

    themortheretailerswhosoldthem, peopletrusttheirpeersorsupposedpeersmorethananyofthecorporatedeclarationsofquality

    andvalueThepoweroftheInternetforbothcustomersandbusinessesbecameapparentinthemid1990swhenbothecommerceandonlinereviewsitesbecameincreasinglypopularwaystodobusinessandcommunicate.Itmadeinformationeasilyavailabledirectlyfromthemanufacturerorretailerviatheirwebsites.Italsogave,forthefirsttime,anindependentvoicetotheusersoftheproductsandservicesbeingbought,whowereoftenfarmoreknowledgeablethantheactualproducers.

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    4 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    Priceandavailabilitywerenolongerthewaytoacustomerswalletshare.Experiencesbecamethething.

    HereferredtothisastheExperienceEconomy.Wehavemoved,From:

    Howdoyoumanagetherelationshipsyouhavewithcustomersinsuchawaythatyoucanincreaseyourrevenueopportunitieswiththem?Howdoyoucaptureandaggregateenoughcustomerdatatogiveyouawellroundedrecordofcustomerinformationtohelpyoumakebetterdecisionsonhowyourcustomerswouldrespondtoyou?TheholygrailofCRMconsistent360degreeviewofthecustomer,availabletowhoneededit,whentheyneededit.

    To:Now,customersdictatehowtheywillpurchaseandconsumewhere,when,andhowmuchusingavarietyofchannelslargely,ifnotexclusively,configuredbythem:Theyareusingcommunitybasedonlinetools(socialnetworking,socialbookmarking,andsocialshopping)toguideoneanother

    Itisnow,astheysayabuyersmarkettheCustomersEcosystem.

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    5 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    Source:CRMattheSpeedofLight

    ThenewCRMistheSocialCRM.AnaptdefinitionfromGreenberg:SocialCRMisaphilosophy&abusinessstrategy,supportedbyatechnologyplatform,businessrules,workflow,processes&socialcharacteristics,designedtoengagethecustomerinacollaborativeconversationinordertoprovidemutuallybeneficialvalueinatrusted&transparentbusinessenvironment.Itisthecompany'sresponsetothecustomersownershipoftheconversation.

    TechnologyEvolutionThisnewparadigmdictatesthatthestrategyandtechnologyevolve.Iwillfocusonthetechnology,toolsandapplicationsneededtoaddresstheSocialCRMratherthantheprocessesandstrategywhichthemselvesjustifyamuchlargerdiscussion.

    Achasmnowexistsbetweenwhatcompanieshaveinvestedin,andwhattheircustomersareusing,andneeding.BridgingthisgapwillentailITandapplicationarchitecturesbasedonoutsideininformation

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    6 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    flowratherthanjustoptimizingandautomatinginternalprocessesandoptimizinginsideoutmessaging.Seeninthislight,thetraditionalCRMtoolsandprocessesareanalogoustonavelgazing.

    SocialMediaToolsandApplicationsHeresthemeatofthisconversationthetoolsandapplicationsthatconstituteSocialMediatodayandinthenearfuture.ThusfarwehavementionedthatcustomersareusingSocialMediatocommunicateamongstthemselvesandtoformulateopinions,reviewsandrecommendations.Wehavenotquiteelaboratedonwhatthesetoolsandapplicationsareandhowtheymightbeused.Blogs

    Blogsarethemostprevalentformofsocialmedia.Theyarethebestentrypointsforanincrementalsocialmediaplanbecausetheyaretheeasiesttounderstandandhavethemostcommonlyavailabletools.

    Ablogisawebbasedlogorjournalaweblog.Itisarunningaccountofevents,thoughtsorideasthatcanbeauthoredbyoneormorepeople.Itistypicallyusedbybusinessesformarketing,branding,customeroutreachoreveninternallytodiscussideasorasateamdocument.Thebusinessblogtypicallyhasaspecificfocusi.e.subjectmatterexpertise,aparticularongoingmessageorenvironmentthatthecompanywantstopromote.

    Bloggingtoolso SixApartMovableTypeanditshostedversion,Typepad,areintheveinofaproduct

    setbuilttobethecenterofacommunityplatformasocialpublishingplatformo WordPressWordPressismorefocusedonbeingaplatformforblogging.

    Therearemultipleusesforblogsinabusinessengagementcontext:

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    7 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    o Theyofferdirectaccesstoseniormanagementforcustomers(suchasGeneralMotorsFastLane,http://fastlane.gmblogs.com).

    o Theyareaplaceforcustomerstocollaborateonideas(suchasMyStarbucksIdeas,http://mystarbucksideas.com).

    o Theyprovideaplacetodealwithcustomerserviceissuesthatinvitescustomerstohelp

    solveproblems.(Forexample,ComcastCaresisaTwittermicrobloggingoutreachsite,http://twitter.com/comcastcares.)

    o Theyofferawaytolinktoandcollaboratewithbusinesspartnersandsaleschannels

    (suchasDellChannel,http://en.community.dell.com/dell

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    8 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    blogs/Direct2Dell/b/direct2dell/default.aspx).

    Wikis Awikiisacollectionofwebpagesdesignedtoenableanyonewhoaccessesittocontributeor

    modifycontent,usingasimplifiedmarkuplanguage. Acorporatewikiisawikiusedinacorporate(ororganizational)context,especiallytoenhance

    internalknowledgesharing.Wikisareincreasinglyusedinternallybycompaniesandpublicsectororganizations,someasprominentasAdobeSystems,Intel,Microsoft,andtheFBI.

    Wikisareoftenusedtocreatecollaborativewebsitesandtopowercommunitywebsites.Wikisarealsousedforprojectmanagement(bettercollaboration)andevenmarketingpurposes(wikisforcustomers).

    SomeWikiTools:

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    9 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    o SocialText(www.socialtext.com/)

    o Wikii(http://wikkii.com/wiki/Free_Wiki_Hosting)

    UseCases

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    10 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    o Wikiscandrivecollaborationbetweencustomersandemployeeswhichinturndrivesinnovation(IBM,InnovationJams).

    o Flexibletoolforprojectmanagement(Qlimited,www.socialtext.com/customers/casestudies/qltd/).

    o Repositoryforadynamicknowledgebaseandondemandcontentdeliverysystem(ZohoCRMWiki,http://zohocrm.wiki.zoho.com/).

    o Theyallowyoutotapexternalresourcesforknowledgeandinsight(SugarCRMsSugarDeveloperWiki,www.sugarcrm.com/wiki/index.php?title=Sugar_Developer_Wiki).

    Podcasts Apodcastisanaudiofilethatusessyndicationtechnology(likeRSS)todistributethebroadcast

    tosubscribersorallowthemtodownloadtocomputersorportablemusicdevices.Thecontentisusuallyspecifictoathemeorinterest.SortofanAudioblog.

    Canbelaborintensiveand/orexpensivetodowell. UseCases

    o Theyaresuperblearningtools(seeMITOpenCourseWareprograms,http://ocw.mit.edu/OcwWeb/web/courses/av/).

    o Theycansupportamarketingeffortthatisfocusedaroundmindshareandthoughtleadership(suchasMotorolaEnterpriseGroupseeaninterviewwithEduardoConradoofMotorolaonthissubjectatwww.marketingprofs.com/7/eduardoconradousingthoughtleadershiptopositionmotoroladunay.asp).

    o Theyreachtechfriendly(notnecessarilysavvy)audiencesthatmightnototherwisebereached.(e.g.iTunes)

    SocialTaggingandFolksonomies Usergeneratedcontent(UGC)reviews,socialtags,socialbookmarks,comments,rankings,

    ratingsandphotos,andvideos.Familiaronesareorcourse:Youtube,Flickr,Digg,Del.i.cio.us Indexingisviaafolksonomy,whichisasociallyconstructedclassificationscheme(asopposedto

    ataxonomywhichisahierarchicallyconstructedone).Inataxonomythecategories(constraints!?)oftheschemeareimposed,andyouareforcedintochoosingthecategorythatstheleastofevils.Afolksonomyusessocialtagskeywordsthattheconsumer/producerofcontentcancreate.

    Tools:o Connectbeamo IBMLotusConnections

    UseCases

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    o Taggingfostersthegrowthofcommunitiesorganizedaroundcommoninterestsandviewpoints

    o Taggingimprovesyourabilitytodotopicalresearch(e.g.Slideshare,

    www.slideshare.net).o Lookingattagsortagcloudsprovidesvaluableinsightintohowtaggersquacustomers

    arethinking.Atagcloudisavisualdepictionofusergeneratedtags,orsimplythewordcontentofasite,typicallyusedtodescribethecontentofwebsites.Tagsareusuallysinglewordsandarenormallylistedalphabetically,andtheimportanceofatagis

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    12 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    shownwithfontsizeorcolor

    SocialNetworksandCommunitiesAdefinitionfromWikipedia:

    Asocialnetworkisasocialstructuremadeupofindividuals(ororganizations)called"nodes",whicharetied(connected)byoneormorespecifictypesofinterdependency,suchasfriendship,kinship,commoninterest,financialexchange,dislike,sexualrelationships,orrelationshipsofbeliefs,knowledgeorprestige.

    Nowadays,whenwesaySocialNetwork,mostofusareactuallyreferringtowhatisWikipediacallsaSocialNetworkService:

    Asocialnetworkserviceisanonlineservice,platform,orsitethatfocusesonbuildingandreflectingofsocialnetworksorsocialrelationsamongpeople,e.g.,whoshareinterestsand/oractivities.Asocialnetworkserviceessentiallyconsistsofarepresentationofeachuser(oftenaprofile),his/hersociallinks,andavarietyofadditionalservices.Mostsocialnetworkservicesarewebbasedandprovidemeansforuserstointeractovertheinternet,suchasemailandinstantmessaging.Althoughonlinecommunityservicesaresometimesconsideredasasocialnetworkservice.Inabroadersense,socialnetworkserviceusuallymeansanindividualcenteredservicewhereasonlinecommunityservicesaregroupcentered.Socialnetworkingsitesallowuserstoshareideas,activities,events,andinterestswithintheirindividualnetworks.

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    13 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    Thekeydifferenceisthatwiththeonlineversion,internetandmobiletechnologieshaveessentiallysuperchargednetworkingandconnections: Thisamplifiesthespeed,scopeand,unfortunately,superficialityofourinteractionsand

    connections.Theresultisthatthespreadofperceptions,knowledge,ismuchfaster,greaterinreachandtheeffectsmorepronounced.

    Youdonthavetophysicallybeinthepresenceoftheothermembersorthekeyintersectionpointsofthenetwork(callednodes)tohaveanimpactonthenetwork.

    Youcancapturethedatathatisprovidedbythemembersconversations.Youcanrespondtothemembersconcerns,fears,disgust,orlove,evenifyouhadnoideathatthememberwasconversingaboutitthatday.

    Youcanuncoverandanalyzetheconversationaloteasierthaninthepast.Alltheinformationisrightthereforthepicking.

    ToolsandApplicationsThemostpopularonesare:

    FacebookCurrentlythe700poundgorillainthisspace.StartedoriginallyforpurelysocialandnonbusinessrelatednetworksithasgrownsobigthatbusinesscannolongerignoreitintheirCRMandmarketingplans.Multipleconversationsaregoingonamongtheircustomers,potentialcustomersandexcustomerswithorwithouttheirengagement.SomeexamplesofbusinessinFacebook:

    o IHateGeneralMotors(http://www.facebook.com/group.php?gid=6477213313#!/group.php?gid=6477213313&v=wall)

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    14 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    o CocaColaFanPage(http://www.facebook.com/cocacola?v=wall)

    LinkedInthisisabusiness/professionalorientedsocialnetworkingservice,sortoflikea

    Facebookforprofessionals.Itisapowerfulchanneltomakebusinessconnectionsandpromoteyourselfprofessionally.

    Twitterisallabout:

    o Whatareyoudoingrightnow?o OptimizedforWeb,IM,Phonechannelso OffersRealtimeinteractioninonesentence

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    15 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    o ForbusinessesitappearsthatTwittercanalsobeapowerfulmarketingchannel:

    Source:FASTCOMPANYTwitterCrushingFacebook'sClickThroughRate:Report

    (http://www.fastcompany.com/1694174/twittercrushingfacebooksclickthroughratereport)

    MobileThusfar,CRMhasbeenappliedinmobilesettingsinsalesandfieldservice.Withspeedofinnovationintechnology,userinterface,GPSandmobilecellularnetworkinfrastructureandthepopularityinsocialnetworking,thealwaysonandavailableCRMchannelisherenow.Thisistheaveryexcitingspacerightnowin2010duetothepossibilityofapplicationsbasedonlocationawarenessandsensitivity.Withthesuccessofthesmartphone(e.g.iPhone,SamsungGalaxy)andemergenceofotheruntethereddevices(iPad),thepossibilitiesformobileSocialCRMarehuge.Examplesofsomesociallocationbasedservicesare:

    Foursquare GoogleLattitude YELP(YELlowPages) ShopKick FacebookPlacesWithGPSandinternetintegration,specialoffersanddiscountscanbetargetedbasedondemographicswellasgeolocation.

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    16 CRMandSocialMedia CRMBusinessRevolution,Aug2324,2010,Singapore

    NextupwillbetheintegrationofAugmentedReality.ThisiswherephysicalimagesareoverlaidwithrichinformationderivedfromdatabasesandtheinternettoprovidesomethingliketheHUD(headsupdisplays)ofmodernaircraftonlyinthiscaseitwillbeforshoppers....

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