Kickstarting your Social CRM Initiative: 5 Fundamentals and 5 Immediate Opportunities
October 7, 2010 11 Comments
Let’s “do” this Social CRM thing. Ready…. Go!!!!!
You’re right. It’s not that easy. It’s not a panacea, and like all of it’s predecessors (Contact Management, SFA, CRM, etc.), there will be absolutely no benefit unless you understand what you are doing, why, and how you’ll measure success.
I don’t want to beat a dead horse. But, for the purpose of this conversation, please allow me to briefly frame the rest of this post.
Social CRM is about aligning the organization’s value chain around the helping the customer perform their jobs. It’s a response to the emergent Social Customer. It’s a response to a fundamental shift in communication norms in society, and therefore the business landscape as well.
If you want more depth, explanation, debate, guides, case studies, and other references, please take a look at The Ultimate Social CRM Resource Guide
The purpose of this post is not to add 3 more weeks of commentary, case studies, and research onto your already full plate. It’s to help provide a succinct set of helpful guidelines to assist you as you move to actually implement change in your organization. You’ve got what you need (and if you don’t, I can help you get up to speed quickly). It’s time to get started.
We’re now a couple of years into the conversation and the term Social CRM in now firmly embedded into the mind and vocabulary of the Marketing, PR, and Customer Service illuminati.
But, how to actually start “implementing Social CRM” (if there is such a thing) still appears elusive. And it should be.
Done right, Social CRM forces organizations to align traditionally alien groups: Marketing and Sales, PR and Customer Service, Customers and C-Suite Execs. Messaging and branding have to be more closely aligned with reality, or the marketplace congregation can shout B.S. in the “Global Town Square”. It forces companies to play by new rules where the balance of informational leverage has shifted to the customer.
Most debates, discussions, and rants have most people falling into one of two camps regarding Social CRM:
(1) The fundamentals of business and CRM haven’t changed – OR –
(2) The emergence of Social CRM offer fantastic new opportunities for profitable arbitrage
My contention is that both are right. Success lies at the intersection of the two, appropriately weighted according to the landscape of your organizational culture and goals.
The purpose of any business is and will continue to be to maximize value creation and dissemination for its stakeholders. Social technologies have enabled the age old requirements of listening, analyzing, and responding to customer signals and communications to be more fluid and dynamic. The fundamental principals of value creation aren’t new – however several of the methods are.
As you begin your journey towards embracing and responding to the social customer, you’ll be well served by keeping the following fundamentals in mind:
Social CRM: The 5 Fundamentals
(1) Understand who your customers are, what they value, who they interact with. Segmentation plays a key role here.
(2) Find and engage with them in the context of their preferred communication channel(s)
(3) Communicate with them in a way that is relevant and helpful in assisting them to achieve their goals
(4) Present and/or create / co-create products or services that help them accomplish (or do better) the jobs they are trying to do
(5) And finally, deepen the relationship over time by doing the same thing over and over again
These are the fundamentals of business and the core of a customer focused strategy. Nothing with the term Social in front of it changes any of this.
However, here are 5 ways your organization can leverage social technologies to accomplish the 5 fundamentals:
Social CRM: 5 Opportunities to capitalize on now
(1) Use Social Analytics and Social Network Analysis to better understand your customers and prospects (aggregate Demographic, Psychographic, and Socialgraphic data)
(2) Use Listening and Monitoring Tools to extend reach beyond where and how you’ve been able to listen and engage before (Add social as an additional interaction channel)
(3) Capitalize on first mover advantage by communicating in new and/or more relevant ways with your customers (align your business with emergent social technology and culture, and beat your competitors to the party)
(4) Utilize Internal Collaboration (Enterprise 2.0) and/or Community Platforms to streamline communications and/or product and service development functions
(5) Increase engagement with existing customers on new channels in a way for the world to watch and observe (Be everywhere your customers are – and enable them to share what they love (or don’t love) about you to their network(s)
Now, let’s “do” this Social CRM thing. Ready…. Go!!!!!