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Social CRM: The Latest Evolution for Managing Customer Relationships

The days are long gone when sales representatives could rely on their ability to “read” prospects to make the sale, thanks to buyers researching their purchases online.

The need to better understand online behaviors to convert leads jump-started the evolution of customer relationship management (CRM). With CRM, organizations benefit from increased operational effectiveness, easier access to data and improved collaboration.

Now, as the CRM evolution continues, the notion of social CRM has empowered organizations – especially sales adn support departments within these organizations –to connect with customers and prospects on an even greater level.

Integrating social media with traditional CRM has enabled organizations to:

1. Focus more on conversations than strictly on automated processes.
2. Progress beyond tracking and reporting on prospect information, and instead become integral parts of communities.
3. Attract prospects online who are searching for answers to business challenges by providing relevant content and information.
4. Activate the intersection of marketing, customer services and sales to attract hotter sales leads.

“Social CRM isn’t just about bolting on a new plug-in to your system like a new air foil on your minivan, but instead a new way of doing business,” Jeremiah Owyang wrote in a recent blog post on his Web Strategy blog. “The promise of social CRM says that companies are truly listening to their customers wherever they are, responding, anticipating and making the commitment to improve products and services.”
One very vital element of social CRM is social selling, which leverages Web 2.0 technologies to provide sophisticated sales insight. That insight enables sales to act as experts in the product selection process instead of negotiators.

True social selling tools enable sales to better understand, prioritize and interact with the hottest leads and opportunities to quickly close more business by:

• Receiving updates about lead activity via email or mobile device
• Using Outlook to reach prospects and sending data to their CRM
• Providing the option to pass back leads to marketing for further nurturing
• Using RSS to send different types of prospect information into one system
• Accessing sites like Demandbase, LinkedIn and Jigsaw from the tools already in use
• Sorting leads in their CRM by priority, allowing sales to contact leads when they need the most attention
• Monitoring key moments and behaviors that matter to sales, and notifying them of such behavior

When engaging with customers socially, they have a high propensity to share that experience with their networks. And the efficacy of this is strong – according to Marketing Sherpa, 87% of consumers trust a friend’s recommendation over a critic’s.
With a predicted 34% compound annual growth rate of social media spending through 2014 according to data from Forrester, our prediction for 2010 is the growth of social CRM will be strong.

This article was reposted from Marketo. Link: http://blog.marketo.com/blog/2010/06/social-crm-the-latest-evolution-for-managing-customer-relationships.html

Interactions, Engagement & Ecosystems

A "media" model composed of paid, owned and earned efforts is nothing new—however it’s useful to think about this landscape in tandem with the different ways we interact and engage which are enabled through technology. There are essentially three forms of digital engagement which can often overlap (engagement in a single initiative can include all three types) but each form can tend to dominate the experience. It’s important to remember that the type of engagement is contextual to what a participant wants to accomplish.

Types of engagement:

Interactive
This type of engagement is, as its name suggests highly interactive by nature, though what’s worth noting is that there is no social component to it. The primary interaction exists between a person and technology or human to computer. Examples of interactive engagement could be an ATM, or an e-commerce experience or microsites. It can also be a game, video, or any other experience where users engage a system or interact with content. The key distinction is that interactive excludes social interactions between participants.

Social
Social engagement requires the interactions between live human beings (not machines) and/or groups with each other. Most common forms of social engagement can occur on off domain networks such as Facebook and Twitter but can also occur on domain such as corporate blogs or by using the integration of off domain services. The key differentiator for social engagement is that it goes beyond human to computer interaction as described in interactive engagement and usually involves social behavior such as “friending” or human to human direct engagement.

Mobile
Mobile engagement happens exclusively on mobile device as opposed non-mobile device such as a desktop computer. It also takes into context the user behavior of individual(s) who are in mobile situations such as traveling or moving from point A to B. Context in mobile behavior is critical as user activity is influenced by the actual state of being mobile. It’s also worth noting that “mobile” itself may gradually be re-defined over time with devices such at the iPad which blend stationary and mobile behaviors as well as geolocation platforms such as Foursquare which makes mobile activity hyper-local.


Where engagement happens:

Engagement can happen either on domain or off domain and initiatives which include any form of media or content can fall into the following categories:

Paid
Paid efforts always require some type of monetary exchange in order to have initiatives placed on properties whether they be traditional outlets such as display advertising or non traditional outlets such as blogs or advertising within off domain such as Facebook. Paid placement in search initiatives also falls into the category of paid as long as results are tied to non organic or paid searches.

Owned
Owned media typically does not require monetary compensation and can occur on both on and off domain properties that the organization has control over (Facebook pages are off domain, where Websites are on domain but both are owned). Owned properties offer organizations the most control as they can decide what media to promote although off domain properties must be monitored closely as they often support social engagement which cannot be controlled but moderated.

Earned
Earned media nearly always takes place on off domain properties such as forums, blogs, social networks and also mainstream publications. Media is typically earned through word of mouth or unpaid but highly visible results in both search engines and social media referrals. Earned media can also be amplified through outreach initiatives. The core distinction for media which is earned is the absence of overt payment to the property owner for the results.

What This All Means
As stated in the beginning of this piece—much of this should not be new, however it does present new opportunities and challenges for organizations looking to stay in lock step with their customers, consumers and employees. The media ecosystem must be purposefully orchestrated and appear seamless to the individual and groups you are hoping to reach. From a technological perspective, this means potentially adding systems equipped with workflows such as Social Talk or Awareness which allow you to better manage your entire social ecosystem. From a people process, this could mean training and staffing differently. But from the perspective of the people who you want to activate—it simply means that you are relevant to their digital lifestyle. This translates to the the following: we must better understand how people want to engage (IE their motivations and behaviors). For example, the context behind when they want to act "socially" or be left alone and when they are “on the move” vs. stationary. Also, each form of media is its own micro ecosystem within a broader macro media ecosystem—Facebook’s latest addition of community pages could potentially create micro-ecosystems within the broader Facebook environment.

Having intimate knowledge of how these ecosystems thrive (or not) will help us figure out how they can work best together. In other words, get ready to go both wide and deep as you plan digital initiatives. The future of communications will require organizations to be effective both in engaging participants via micro formats while taking a step back and managing media and interactions across the macro (all social, interactive and mobile touch points)—and that’s just on the digital front. The bigger picture? Integration between the digital and real world because this is where it all comes together.

This article was originally posted by Logic + Emotion: http://darmano.typepad.com/logic_emotion/2010/04/engagement.html

5 Ways B2B Blogs Can Fast-Track Marketing Efforts

These days, virtually all marketers – B2B and B2C – at least recognize the potential impact of blogging when integrated into the marketing mix.

But for many B2B marketers, the decision to put a B2B blog strategy in motion may not come as easily. In 2008, Forrester Research found that more than half of B2B marketers either did not have a blog or were still figuring out their blogging strategy.

Successfully integrating a B2B blog into the marketing mix can provide organizations a wide range of benefits, from increased leads to improved brand awareness. Below we’ve identified the top 5 reasons why blogging fast-tracks your B2B marketing efforts.

1. B2B blogs provide an avenue for thought leadership content.
As part of the lead nurturing process, B2B organizations have to prove to prospects that they truly understand their unique business challenges. Offering thought leadership blog content – rather than simply pushing product information – is an effective way to do so.

By offering insight on trends and interviews with industry thought leaders, blog content can help B2B marketers prove to customers they’re an integral and involved industry player.

2. B2B blog posts can provide additional in-links to products and services pages on websites.
One of the most critical elements on B2B websites are products and services pages. The importance of building links to these vital pages is two-fold. First, the more links to products pages, the more traffic that’s directly driven there. Secondly, a major component of search engine rankings involves the number of in-links from reputable and relevant sources.

When blog content is relevant to a product or service page, keyword-optimized hyperlinks can be used within posts to provide readers with additional information.

3. Consistently updated blog content can keep customers returning to the website.
For many B2B organizations, typical website content is relatively static. New products may be added from time to time, and copy might be refreshed every so often. But by and large, new content isn’t added on a regular basis.

With B2B blogs, marketers can add new content weekly or even several times a week. By consistently posting interesting, informative information, organizations will encourage prospects to regularly visit the blog in search of fresh content. Plus, frequently updated, optimized content can help improve a website’s visibility in the search engines.

4. B2B blog content can be repurposed in other channels.
By integrating blogs with other marketing efforts (i.e., social media, lead nurturing), B2B marketers repurpose content to extend their reach and do more with less.

For example, images in blog posts can be optimized to be found in the search queries, as well as posted to sites like Flickr. Interesting pieces of information from blog posts can be used to create social media messages for sites like Twitter. If an industry thought leader is interviewed for a blog post, that exclusive interview can be leveraged in an email campaign or press release.

On the converse, marketing assets like whitepapers or webinars can be leveraged as blog posts. B2B marketers aren’t always tasked with creating completely original content for blog posts.

5. B2B blogs enable organizations to engage with customers.
Social media marketing is quickly becoming one of the most impactful elements in the B2B marketing mix. By allowing prospects to comment on blog posts, B2B marketers can gain valuable information about their interests and intent to buy. Moreover, by responding to prospects’ comments, B2B marketers can interact with and nurture those leads.

If you haven’t already implemented a B2B blogging strategy, now is the perfect time. From the ability to interact with prospects to increased search engine visibility, the potential benefits of integrating a blog into the marketing mix are endless.

This content was originally posted by Maria Pergolino on http://blog.marketo.com/

Do you have a media channel strategy? (You should.)

Twenty years ago, only big companies and TV stars worried about media channels.

Oprah was on TV, then she added radio. Two channels. Then a magazine.

Pepsi set out to dominate TV with their message, and billboards and vending machines. Newspapers, not so much. The media you chose to spread your message mattered. In fact, it could change what you made and how you made it. [Stop for a second and consider that... the media channel often drove the product and pricing and distribution].

Today, of course, everyone has access to a media channel. You can create a series of YouTube videos, or have a blog. You can be a big-time tweeter, or lead a significant tribe on Facebook.

Harder to grapple with is the idea that the media channel you choose changes who you are and what you do. Tom Peters gives a hundred or more speeches a year, around the world, for good money (and well earned). But this channel, this place where he can spread his message, determines what he does all day, impacts the pace of the work he does, informs all of his decisions.

Oprah lives a life that revolves around a daily TV show. Of course it would be difficult for her to write a book... that's a life dictated by a different channel. And she's a lapsed twitter user because it demands a different staffing and mindset than she has now.

This applies to non-celebs, to people with jobs, to entrepreneurs, to job seekers. We all spread our ideas, at least a little, and the medium you choose will change your ideas. If you only pay attention to the world when you need a new job (your channel is stamps and your message is your resume) you'll spend your day differently than if you are leading a tribe, participating in organizations or giving local speeches all the time.

We've come a long way from a worker having just two channels (a resume and a few references) to having the choice of a dozen or more significant ways to spread her ideas. Choose or lose.

This content was reposted from http://sethgodin.typepad.com/

Giving away a magician's secrets

Steve Cohen makes more than a million dollars a year doing magic tricks.

I will now tell you the secrets of this magic:

1. He sells to a very specific group of people, people who are both willing to hear what he has to say and able to pay what he wants to charge them.
2. He tells a story to this group, a story that matches their worldview. He doesn't try to teach non-customers a lesson or persuade them that they are wrong or don't know enough about his art. Instead, he makes it easy for his happy customers to bring his art to others.
3. He intentionally creates an experience that is remarkable and likely to spread. "What did you do last night?" is a great question when it's asked of someone you entertained the night before, particularly if you can give the audience an answer they can give. That's how the word spreads.
4. He's extremely generous in who he works with, how promiscuous he is about sharing and in his attitude.
5. He's very good at his craft. Don't overlook this one.

I guess it comes down to this: if you're having trouble persuading people to buy what you sell, perhaps you should sell something else. Failing that, perhaps you could talk about what you sell in a different way.

Important clarification: I'm not telling you to sell out or to pander or to dumb down your art. Great marketers lead people, stretching the boundaries and bringing new messages to people who want to hear them. The core of my argument is that someone's worldview, how they feel about risk or other factors, is beyond your ability to change in the short run. Sell people something they're interesting in buying. If you can't leverage the worldview they already have, you are essentially invisible. Which is a whole other sort of magic, one that's not so profitable.

This content was reposted from http://sethgodin.typepad.com/

Do You REALLY Understand Consumers?

If you can confidently answer this question in the affirmative, then you probably already know what your customers want and need.

Or do you?

Have you gathered and analyzed quantitative and qualitative data that indicates not only what consumers tell you they want and need, but also how consumers actually behave?

Consumer insight simply means having a good grasp on what consumers want, need, think, and say about the products and services they are willing to spend their money on. Of course, the trick is to figure out the most authentic way to access this information, and then the best way to use it.

Some companies have mastered the art of achieving great consumer insight, and then incorporating their findings into wildly successful marketing and advertising campaigns. For example, Nabisco discovered that their customers loved to dunk Oreo cookies in milk, and this became the cornerstone of many of their most memorable television commercials. And Unilever identified a unique way to connect with their target market by celebrating the beauty of women of all sizes and ages with the Dove Campaign for Real Beauty, and the twenty city Dove Self-Esteem workshop tour.

Many organizations dedicate considerable resources to this business of understanding consumers. So how do you find out what consumers really think and say about your business? Join us on April 14th to learn more about this topic. Click here for more information.

Keri Glover