FM Levis Assignment 2
FM Levis Assignment 2
FM Levis Assignment 2
com/digital-
marketing-news-the-role-of-social-in-customer-relationship-management-scrm/
The rise of social media has had a massive impact on how customers make decisions
about their purchases and how brands interact with customer throughout the purchase
cycle. For both B2B and B2C industries, social now plays a vital role in decision
making and brand advocacy.
Most brands understand the concept of promotion using social media but few
understand how to attribute value in the same way as traditional broadcast media.
Customers no longer decide to buy a product or service based solely on adverts and
brand promotion in the same way they did 5 years ago. With the rise of the internet,
customers have more choice and have access to more information. Not only are
customers far more media savvy and less likely to buy into brand marketing, but they
are making more and more purchase decisions based on their value set rather than
need alone.
This works the same way for B2B brands, whether it be a product or service, we like
to buy from a brand based on need fit but also our experience of the organisation.
Factors such as personal recommendations, customer service experience and how well
the brand values match our own are now key triggers for deciding on a brand’s worth.
The stages were fairly clear cut and brands could allocate their marketing resources
effectively to each stage. The focus was on the sale and it was relatively easy to
understand how specific promotional activities could be attributed to the purchase
process.
With the rise of social and the way customers now research and decide on a purchase,
the ‘funnel’ has changed significantly and instead of it being a staged linear process,
we find consumers take a far more considered approach, seeking information from a
wider variety of places.
We now refer to the purchase process as a cycle and customers can move forward or
backwards throughout this cycle. Social now allows the consumer to remain within
the cycle long after the purchase has been made. Customer retention and loyalty are
now as much of a focus as the sale itself.
What social media has allowed customers to have is a voice and a chance to make that
voice heard. If we look at the different purchase stages we can consider how social
can support customers and help you as a brand to promote your product or service at
each stage.
Awareness
Getting your brand noticed is the first step and this means promotion.
While traditionally this would have meant advertising of some description, social
offers us the opportunity to move beyond clever (and expensive) marketing to
activities which actively engage with our customers. Make your brand visible on
social media, create a brand page on Facebook and set up a Twitter feed. Go beyond
sharing marketing messages and just talk to your customers about things you think
they would be interested in. It doesn’t have to be your products specifically, it could
be anything that you can relate back in some way.
Interest
At this stage your customer has an interest in your product or service. This is the point
when consumers will begin to search for something specific, probably online, and
begin their research. Depending on the value of the item this research could be
significant and will include looking at customer ratings, personal recommendations,
availability and location etc. Research has shown that when consumers are faced with
a brand website and their Facebook page in search results a significant proportion will
go to a social media site first. The reason for this is the idea that the content will be
more relevant and more truthful. Facebook is where customers compliment or
complain about a brand, where questions are answered and where the brand is seen to
interact without the assumed agenda of just hard selling. It’s a trusted source for new
customers and helps to either give confidence to a prospective customer or put them
off.
Desire
This is where you move beyond the practical pairing of product and need to make the
emotional connection between the consumer and your brand or product. Whether this
be the product or service itself or your brand as the provider of choice, connect with
your customers on a level that goes deeper than just being informative. Solve your
customer’s problems, answer their questions, invest in them pre-sale and you will reap
the rewards in the long term. This isn’t about manipulating your customers, they can
spot a faker a mile away. In order to connect with your customers you need to offer
genuine enthusiasm and interest which gives your brand the personality needed to
inspire consumers. All of this support needs to be instant and far more subtle than
your corporate website will allow. Hosting these conversations on social media can
make your customer feel like they are on neutral ground, you’re in their space rather
than the other way around.
Purchase
Retention
Creating opportunities for long term mutually beneficial relationships is what social
media was made for. Customer care post purchase is just as important as the support
you offer during the selling process. Once a customer has selected to as a supplier,
don’t let them just walk away. Build on the connection that now exists, provide
opportunities for feedback, follow up support, issue management and reviews. Every
time a customer interacts with your social network profile it send a ripple of
notifications throughout that individual’s network, telling everyone they know that
they’ve spent some of their precious time talking to you. A vote of confidence can be
all it takes to bring in new customers to your brand rather than somebody else’s.
Social media can be your best asset when it comes to customer service and support. It
offers a mix of real time responses, an open forum which engenders trust and the
ability for uncensored voices to be heard. It feels far more like an area owned by the
customer than your branded website could ever achieve.
Source :
https://www.targetinternet.com/digital-
marketing-news-the-role-of-social-in-
customer-relationship-management-scrm/
https://www.salesforce.com/in/learning-
centre/crm/social-crm/
Social CRM simply adds a social dimension to the way you think about customers and your
relationship with them.
Until now, customers' social media activity has been something of a closed book – a channel of
communication that wasn't trackable, measurable, plannable or improvable. With social CRM,
that's changed. By adding the critical social media channel to your existing CRM systems (New
to CRM? Read our Beginner's Guide to CRM Systems .), you can combine everything you
already know about each customer, prospect and lead with new information about their social
media activity. And when a customer chooses to contact you via Twitter or Facebook, you can
track and manage the conversation in as much detail as you would for a telephone or email
enquiry. You'll be able to act faster, respond better and anticipate your customers' needs.
Meanwhile, your customers are elsewhere on Facebook and Twitter, having conversations about
your organisation – discussing you, recommending you, complaining about you and even trying
desperately to talk to you. But they’re not getting the answers they want.
Customer service, marketing and sales all benefit from a more dynamic, complete picture of each
individual customer, and can make use of social tools to communicate between themselves. You
see the cost of delighting customers fall. Your customers see an organisation that listens to what
they want and responds in a way that suits them, across multiple channels. Everybody wins.
By enabling you to track social interactions with customers using the same sophisticated tools as
you use for other touchpoints, you can deliver faster, more complete resolutions to customer
service cases from across your business – and that means happier customers.
But it’s not just about reacting. Using monitoring and tracking tools, social CRM can help you to
identify and reward brand advocates and influencers, encouraging them to spread the word still
further.
Greater exposure in the places where your audiences spend their time;
Increased engagemente and deeper relationships with customers;
Increased web traffic and conversions and higher search rankings;
High-quality inbound leads that turn into revenue faster;
More efficient marketing budgets with higher returns;
Faster marketing campaigns with better targeting.
Sales teams can expect to see an improvement in retained and referred business, as customers
become recommenders and advocates; and that leads to increased revenue. In a survey of
Salesforce customers, 55% reported increased customer loyalty and 54% increased sales
revenues.
Marketers can use social CRM to increase reach and cut costs, while improving customer
tracking and measurement. In a recent Social Media Examiner survey, 89% of respondents said
social media increased their brand’s exposure,while nearly half reported that spending just 6
hours a week on social media activity reduced overall marketing costs.
By tracking and managing customer contacts across channels and business functions, customer
service teams can deliver dramatically better service. 79% of Salesforce customers reported
improved customer service, and 63% increased customer retention – demonstrating that social
CRM delivers real commercial benefits.
TOPICS COVERED
D EMO VID EO
What is Salesforce CRM? See how the #1 CRM can help you grow your business.
WATCH DEMO
RELATED CONTENT
Applications
Customer Relationship Management: A Beginner's Guide
What is Mobile CRM? The Advantages of Mobile
Source : https://www.scribd.com/document/434851645/The-Importance-of-Social-
Crm#download&from_embed
Applications
Peer-To-Peer CustomerSupport
The social networks you build and curate are often the first place customers go to
ask product or service questions. Because these support issues are being posed in a
social forum, followers of the brand can and often will provide responses to support
questions. Brands that encourage and even reward customer involvement in support
delivery through social channels enjoy higher levels of satisfaction and lower support
costs. New use cases for Social CRM are discovered almost every day, inspired by
the relationship and communications potential of being connected to a large group of
followers. What follows is a brief discussion on some of the more common use cases
for SCRM.
Market Research
Social media provides an excellent listening post to detect trends, areas of opportunity or dissatis-
faction and even competitive threats. Followers of a brand will use their connection to its social-
media channels to communicate their expectations of the brand and how it needs to
perform. Social-media followers of a brand represent a sample population or virtual
focus group with whom you can conduct primary research quickly and
inexpensively.
Product Launch
The vast reach and immediacy of social-media communications make it the first
choice for many companies when it comes to new-product announcements. Pre-
announce new product features, terms or conditions to get immediate feedback that
is useful for making program changes and enhancements prior to general product
availability. Identify excellent beta-test or case-study candidates by monitoring social
media posts.
Brand Reputation Management
Monitor social-media posts to understand sentiment about your brand. At regular
intervals, take a social-media snapshot of brand sentiment and track the trend.
Identify causes for both upward and downward sentiment trends so you can manage
them. Engage directly with brand loyalists and detractors to understand the reasons
for their senti-ments. Through social-media engagement, turn brand detractors into
loyalists, and brand loyalists into brand ambassadors.
BOTTOM LINE
Your business can benefit from culture of customer-centric social
media and CRM.
By lever-aging the power of online discussion forums, your business can extend its
reach and build brand equity by listening to what your customers are saying through
social media. Managing the online conversation is a catalyst to grow the stature of a
brand. An effective SCRM process provides opportunities to gain new market
insights, improve service quality and deepen loyalty to the brand.
THE IMPORTANCE OF SOCIAL CRM
HOWTO GUIDE
Build Your Online Community
Action Plan
STEP1
-BuildYourOnlineCommunity
Becoming Visible & Staying Active On Social Media
Identify the social-media channels your customers frequent. Develop a presence on these
channels.Monitor your social-media chan-nels frequently, both to respond to followers
who engage with you, and to post practical infor-mation. Publish a social-media
policy and train employees how to engage customers through your social-media
channels.
Source : https://www.socialmediatoday.com/content/social-crm-what-it-and-why-it-
important-business
A Shift in Focus
A social CRM takes the CRM tool one step further by allowing data exchange in real
time. Like a newsfeed on a social media platform, steadfast updates allow for the
most accurate analytics. It enables the use of social media to engage with customers
in a closely guarded and managed community. This is otherwise known as social
media monitoring. With stiff competition in every market, focus has shifted to the
customer experience. Analytic and decision support engines are necessary for
managing the vast array of social media. The sales pitch has been replaced by
customer engagement and the goal is to improve relationships through more
meaningful and personable interactions.
The more common way the social CRM platform is being used is through data
analysis. Strategic, customer based decision making is now driven through real time
reporting, monitoring and analytics. By tracking variables like customer behavior, key
words and click throughs, businesses can determine factors like the best time to post
and what products are popular. They can then use this data to drive revenue.
Although tedious at times, this modern aspect of marketing is considerably cost
effective in comparison to the traditional model. The program evaluates customer's
engagement, perceptions and interaction in the community as a whole. This
information is then used to drive product, marketing and sales strategies.
Co-Worker Collaboration
Businesses with internal CRM platforms also benefit from a social perspective. An in-
house social CRM facilitates communication and collaboration across business units
and allows for a customer centered sales cycle. With internal newsfeeds, threads
and the ability to "follow" or "like" fellow colleagues, the transparency between
organizational silos has never been greater. Having an open feed between product,
support and sales allows for streamlining business processes like never before.
The best social CRM's on the market help to ensure the lowest cost of customer
acquisition and retention through various cross analysis processes. They assist
companies in making informed decisions throughout the entire sales cycle from lead
generation and nurturing to conversion costs. This is based on the relative success
of their various social media campaigns. The larger companies are able to marry big
data analytics with social statistics to analyze customer interaction in real time
reporting. Ultimately, a good social CRM will provide decision support to drive growth
through custom, targeted marketing.
The general take away is that the advent of technology is inescapable and is growing
exponentially. In other words, don't miss the train. Consumers are the driving force
behind what is shaping the market these days. They have a louder voice than ever
and businesses are very susceptible to being shunned or black listed, based on
customer opinions. The number one problem companies are facing right now is
obstinacy and user error. It creates unnecessary overhead when the entire company
is resistant to adopting a new business model but eventually they will not have a
choice. A social CRM is the future in customer management and what better way to
be lead to success, than with the voice of the consumer in your pocket.
SOURCE : https://www.falcon.io/insights-hub/topics/customer-engagement/why-you-need-
a-social-crm/
Merging social data and CRM data adds a valuable facet to customer profiles
while centralizing the information. It permits you to see your customers’
interactions with your brand on any channel and gives you greater insight into
who they are.
Do you know the average spend of each of your customers, their buying
patterns, how they respond to your newsletters, and which products they’re
most likely to purchase? Take this information and couple it with social media
data.
You can build out your customer profiles and have an overview of what people
talk about, then proactively respond when it pertains to your business. By
adding in your customers’ social behavior, you’re able to see their interests,
interactions, and other brands and influencers they follow.
Regardless of where your customers are talking about your business, you can
quickly respond to them on the channel of their choice. You’ll be able to catch
any negative mentions and provide complete support tailored to their
experience.
Social media CRM software helps to shape your target audiences, allowing you
to create custom and lookalike audiences that you can pull directly into
Facebook Ads Manager. You can also identify your customers’ purchasing habits
and tailor your social ads to their buying behavior with customized offers.
Give your brand advocates and influencers the first peek at new products
through advertising created just for them. Alternatively, use segmenting and
labels to remind customers to restock purchases they’ve made in the past. Social
CRM software offers a wealth of opportunities for improving your paid social
campaigns.
Build audiences for specific products, and use purchase patterns and social
mentions to target messaging. Using social media CRM software makes targeted
purchase suggestions more precise and personal, increasing the likelihood that
your customers will buy your products in the future.
The end result is a clean and simple UX that can provide information on a single
customer, or gather information to show trends and segments.
All these features in Audience are designed to make it easier to manage your
customer relationships in a streamlined, innovative way—so innovative, in fact,
that it won a Facebook Innovation Spotlight Award.
Through social CRM, social media managers can gain a comprehensive view of
their audiences, deliver highly targeted content, and offer dedicated support. It’s
a perfect merging of data that empowers SMMs and provides a wealth of
intelligence to organizations.
Social CRM platforms have the power to connect marketers directly with their
audience. That’s why they’re virtually a must for modern marketers and SMMs.