GINeVRA. GINeVRA. Digital Research Hub. Research Report- CRM All Rights Reserved.

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Blake Robinson
8 years ago
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2 It is estimated that nearly one and a half billion people visited a social media site in They all had something to say; whether good, bad or neutral comments and opinions What Social Web means: Overview (1/2) 1.4 billion people worldwide visited a social network site last year; 3 million new blogs come online every month; Last year, one million new accounts were added to Twitter, everyday; Facebook has 850 million active users every month; 80 percent of internet users say they prefer to connect with brands via Facebook; 65 percent of social media users say they use it to learn more about brands, products and services. For Business, Social Web represents a real challenge in the area of Customer Relationship Management (CRM). Social Web does not only share private information, but also uses the Social Web to search for products and to share recommendations and experiences between friends, users, online visitors. FOCUS POINT: Combining social network data with customer data and storing it in common enterprise application systems, would significantly enhance Customer Relationship Management (CRM) enabling customer analysis to reach higher and more sophisticated levels of depth and understanding All Rights Reserved.

3 Organizations around the world trust Social Customer Relationship Management (Social CRM) and are willing to spend more than 1.7 billion of dollars in Social CRM solutions in the near future, especially in B2C markets Overview (2/2) $ Global spending on CRM Solutions 14.2 B B2B/B2C division for global spending on Social CRM 12,9 B 90% 10% 11,4 B 4% 8% 12% EXPECTED Billion of Dollars spent on CRM solutions worldwide Percentage of global CRM spending for Social CRM Time Percentage of spending in Business-To-Business (B2B) organizations Percentage of spending in Business-To-Consumer (B2C) organizations All Rights Reserved.

4 The difference between Traditional CRM and Social CRM is highlighted in 6 major points that Companies need to identify and evaluate in order to continuously adapt to new environments Traditional vs Social Traditional CRM «CRM is a philosophy and a business strategy, supported by a system and a technology, designed to improve human interactions in a business environment.» TARGET CLIENT COMPANY DRIVES THE PROCESS BUSINESS HOURS RIGID AND STATIC CHANNELS TRANSACTION FROM INSIDE TO OUTSIDE WHO WHAT WHEN WHERE WHY HOW Social CRM «Social CRM is the company s programmatic response to the customer s ownership of the conversation» EVERYONE CUSTOMERS DEFINE PROCESS CUSTOMERS SET THE TIME CUSTOMER-DRIVEN DYNAMIC CHANNELS INTERACTION FROM OUTSIDE TO INSIDE All Rights Reserved.

5 Key Activities to assess the value SCRM adds to CRM processes GINeVRA There is a positive overall impact of linking Social Media and CRM; implementing a set of tools for Social CRM processes in addition to traditional CRM activities can increase company s competitive advantage A. LEARNING ABOUT THE MARKET Key Activities The success of CRM depends on company s ability to learn as much as possible about the market and its conditions. Social Media offers the opportunity to include opinions from the market side and discussions between the market players that previously were not directly accessible B. INTEGRATING AVAILABLE INFORMATION The main goal of CRM is to gather all information about market and customer interactions in a database, which aliments the operational CRM processes and establishes the basis for deeper analysis and better understanding of the market in the area of analytical CRM. Social Media provides additional content to this database C. ESTABLISHING MUTUAL RELATIONSHIP The purpose of CRM is to achieve mutual relationship with customers considering the client as an equal element. Social Media offers the opportunity to integrate customers into CRM processes by listening, incorporating and collaborating with them in order to create new ideas, products and other resources for CRM D. PROVIDING A CUSTOMER ORIENTED SERVICE SYSTEM The profitability of CRM strategies depends on the ability to maximize customer lifetime value. Social Media provides new options to optimize the service system through various means, informing and attracting customers or generating new leads, and staying in contact with clients after they purchased a product or service All Rights Reserved.

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