Posts Tagged ‘Social CRM’

Identifying Your Key Stakeholders for Social CRM

Posted in Corporate social CRM, tagged , , , on Jun 30, 2012| Leave a Comment »

stakeholdersImageStakeholders are those people, internal or external to your organisation, who would be affected by the decisions and activities of your organisation and who in turn have the potential or ability to affect the company.

These stakeholders will agree to opt in to your social CRM if they perceive some advantage for themselves. This perceived advantage varies with each stakeholder group and could be anything from good reputation to improved customer service. Social CRM contributes to Marketing, Sales, Feedback, Service and Support.

Stakeholder Analysis is necessary to identify key stakeholders so as to achieve effective communication that will engage each key stakeholder group for a mutually beneficial relationship with the organisation. For example, it will help determine the right social media channels and what media to use.

It is the stake that each stakeholder holds with the organisation that determines their type and level of influence.

The following are 3 different types of motivation or stakes that determine the type of key stakeholder.

Economic stakes
This is usually the largest group of stakeholders who would be affected economically by your organisation’s activities. They include employees, customers, suppliers and competitors.

Equity stakes
These are those with some level of ownership of the company such as shareholders and directors.

Influencer or Moral stakes
These stakeholders are mainly concerned with standards, responsibilities and community. They  include professional bodies, government, regulators and the media.

croppedSCRM-infographic

Analysis and identification of stakeholders will enhance your social CRM as it will help to devise the most effective ways to engage and collaborate with the key stakeholders of your organisation.

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An effective social CRM system

Posted in Corporate social CRM, tagged , , , , , , , , on Aug 18, 2011| Leave a Comment »

What makes for an effective and efficient social CRM system? Here are the main points to consider.

Inter-departmental collaboration

Social CRM is effective when carried out cross-functionally. Usually, it is the Marketing and Communications department that would be mostly responsible for the company’s social CRM. However, they would need to communicate and collaborate with other departments to ensure efficiency. For example, they would need to have up to date information on products, pricing and the sales and purchase cycle from the Sales department. Also, liaising with Customer Service department is crucial regarding customer interactions and any complaints. Input from Product Development department is essential to resolve matters relating to existing products and to innovatively meet customer demands.

Centralised data storage

Since social CRM needs inter-departmental collaboration and communication, it is most effective when each department has access to up to date relevant data about matters and as they arise. Hence, data should be stored centrally.

Content creation and distribution

Good quality and relevant content that encourage dialogue and participation will enable an understanding of your brand while increasing brand visibility. A multi-channel approach to distribution of content is necessary since customers can change channels as easily as they do with television. You need a system and routine in place that helps you to proactively and persistently engage the customer in all the places relevant to your brand.

Monitoring of relevant platforms

Since the focus is to create and support a dialogue system of communication that enhances customer engagement and collaboration, you will need to listen and be responsive to what is being said. You should develop a system of listening to discussions on all relevant social media platforms, using monitoring software that records relevant messages from the social media platforms.

Having in place a reliable social CRM system that comprises of the above will enable co-ordination of staff, communication and activities, saving time and money.

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Image is no longer everything…

Posted in Corporate social CRM, tagged , , , , , , , , on Jul 23, 2011| Leave a Comment »

According to Kevin Bishop, Vice President of IBM, authenticity and advocacy are the two most relevant marketing fundamentals in these days of social media and both are growing in importance. Kevin spoke at the annual Dinner and Lecture held by Cambridge Marketing College on 14 July 2011.

Kevin Bishop
Kevin Bishop, IBM Vice President

Kevin quotes ‘Character is like a tree and reputation like its shadow. The shadow is what we think of it; the tree is the real thing’. Social media means that corporate character is now more easily revealed as increased use of social media sites has empowered consumers to be better informed and more knowledgeable about their choices. When corporate character is found to be inconsistent with perceived reputation, consumers can now spread the word, good or bad, via these sites. Hence the rising importance of authenticity, where behaviour is in line with communicated promises and corporate values. Authenticity will help towards achieving advocacy which is the highest level of customer loyalty where the customer or stakeholder advocates, promotes and sells for you.

All these highlight the need to build from within, ensuring that corporate character lines up with desired image and reputation. Corporate behaviour is a huge aspect of this and can be influenced through internal marketing.

Customer relationship marketing is also necessary to bring about transition from customer to advocate.

Internal Marketing and Social Media Customer Relationship Marketing

Internal marketing is necessary to improve employee participation and performance. It is vital so that all internal stakeholders are equipped to support corporate strategy through behaviour, bringing about authenticity.

Social CRM can enhance rich exchanges with stakeholders and customers in a strategy of engagement and collaboration which not only enables understanding but also encourages involvement and commitment, thereby turning customers into advocates.

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Important considerations for implementing social CRM

Posted in Corporate social CRM, tagged , , , , , , on Jul 2, 2011| 4 Comments »

An effective social CRM system involves careful planning and implementation. It is a company-wide approach that requires social CRM goals to be identified and clearly communicated to all. Social media requires new capabilities and you would need to identity the channel or mix of channels that would deliver the best results.

Collaborative teamwork

Collaborative teamwork across functions is important for customer-centric social CRM

The following are three aspects for consideration in implementing social CRM:

Policies and systems

You will need to formulate policies that enable you to respond to customers most effectively to improve customer experiences. All social CRM communication must be guided by policy. Policy will need to adapt as the media evolves and therefore needs to be flexible. The policy should set out guidelines on daily routines for content generation and distribution. It should include guidelines about who is authorised to post content online on behalf of the organisation. Also, company rules against posting offensive or confidential information should be made clear. Company social CRM policies and systems should include provision for risk management and issues arising. This requires a structured assessment of the opportunities and threats.

Key Performance Indicators should be included to continuously measure success.

Social channels and social CRM Technology

With social media, it is the customer who controls the dialogue and where it occurs. It is important to keep up with the customer as they switch from one social channel to another.  In order to be everywhere that conversation about your company may occur, you will need a multichannel approach involving a combination of social channels such as Facebook, Linkedin, Twitter, YouTube, Delicious, Digg, StumbleUpon, Reddit and message boards.

Social CRM software
Social CRM activities are better structured, systematic and automated. Automation saves valuable time and frees your time so you can engage in other creative activities that cannot be automated. The choice of social CRM software will be greatly influenced by the company’s social CRM goals and any existing software system already in use to ensure compatibility.

Good social CRM software should offer the following:

Campaign management features: to organise and manage tasks with the ability to handle varying types of content such as photo, videos and user-generated content.

Advanced scheduling features: that include bulk upload of content, single and repeated posts scheduling and automated multichannel content distribution.

Monitoring and evaluation features: It is necessary to monitor conversation within those identified channels that are significant to your company and product. The advantage of social CRM is the ability to listen and monitor to be able to react. You need technology that enables you to evaluate the effectiveness of the social channel and your social CRM strategy. An effective solution will help you track when and where your impact is greatest.

Training

Collaborative teamwork across functions is important for customer-centric social CRM. Objections to implementation of social CRM can be overcome and a company-wide involvement can be achieved via training.

Your company’s social CRM policies should be clearly communicated to everyone in the company. Procedural training and software specific training should be provided so that all staff engage appropriately and creatively in responding to customer and community feedback.

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Customer-centric strategy that enhances corporate credibility

Posted in Corporate social CRM, tagged , , , , , , , , on Jun 21, 2011| 2 Comments »

This blog enables me to share and explore social media as a Customer Relationship Management tool in building and sustaining corporate credibility.

Corporate credibility as an aspect of corporate reputation refers to the perception that stakeholders have of the company’s honesty, expertise and trustworthiness. It reveals whether the company can be relied upon to do what it says it will do and whether it backs up its corporate communication with actions in line with its promises.

Corporate credibility is important as it affects stakeholder attitude towards the company and towards the company’s marketing, branding and communication strategies. High credibility leads customers to form positive attitudes and positive purchase intentions towards the company. As a result high credibility enhances customer loyalty, market share, brand equity and profit.

For a company to achieve its financial goals, it will need to develop trust and credibility through customer centric strategies. Such customer centric strategies necessitate being able to gather information as much as possible about customer perceptions and their attitudes towards the company and its products, and also being able to listen to customers. This can best be done through a collaborative dialogue strategy of communication, a two-way symmetrical model. Engaging positively with customers and listening to them enhances customer loyalty and the data gained as a result can help to further improve services.

An effective Customer Relationship Management (CRM) system can achieve this and can help identify areas for improvement in order to raise performance.

Traditional CRM vs Social CRM
Traditional CRM involves managing the relationship with the customer for the benefit of the company. It is a marketing tool with a focus to selling to customers and it is therefore the company that initiates and controls the communication while the customer is mostly passive.

Social CRM on the other hand creates an avenue to engage and collaborate with the customer on social media sites such as Twitter, Facebook and YouTube. The customer does not play a passive role but the emphasis is on community and relationship building to improve customer experience with the company’s products and services. It is a less formal form of conversation and communication could be customer to customer or business to customer.

Social CRM can create an avenue to listen to the concerns, needs and preferences of the customer in a customer centric strategy that enhances corporate credibility and therefore brand equity and revenue. The FedEX story on GannetLocal blog illustrates this. 

One of those companies that have harnessed the power of social media to enhance credibility through Social CRM and have experienced financial growth as a result is Dell.

Linksys, Chordiant and Enterasys Networks are other examples of successful Social CRM to enhance corporate credibility.

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