Got questions for Mike? Ask them here.
Attendee, Joe M., asks -
To the point of using the proper social media platform that the customer is comfortable with, how does a company establish this knowledge when starting out?
Attendee, Pat M., from the asks:
Are there best tools to use? YouTube versus other media?
Attendee, Maria P., asks:
Problem solving. How do you see that implemented in the organization. What platform? process?
Attendee Wipakorn P. asks:
What do you mean by Semantic Web? Please explain more...
Attendee Alfie K. asks:
What about control. Give these tools to employees and some employees could also destroy a business. Any ideas?
Attendee, Abhijit G., asks:
How does Social CRM help in B2B Demand Generation program?
Hi Joe M.,
I just saw your question about how to determine the right platform for your custoemrs when starting out and thought I'd throw out a few cents worth of thoughts. As the CMO at Lithium, we've worked with hundreds of companies and developed a set of best practices and solutions to drive customer community success.
A high level point is that you should start by clearly determining what your business objective is -- for example, are you trying to develop a community that can help reduce your customer service costs in the call center? to drive up your customer satisfaction index? to increase your lead generation? increase your sales? drive word-of-mouth marketing? crowdsource new product ideas? It is important before you start to have a good idea of what business result you are trying to achieve -- that helps to drive strategy and choices about social media. Ultimately, you should focus on choosing technology and solutions that help you address not only the business problem that you are focused on today, but that also have the breadth to help you address other business issues over time. I guess the core message is to take a long-term strategic view.
A second point is that one of the most important things is to determine how to harness the power of your advocates -- we call them superusers. A general rule has been proven over and over in the social world across properties like Twitter and Wikipedia -- the rule is referred to as the "90-9-1" rule. In essence, it is that 1 to 10% of the people in your customer community and network create the vast majority of the content that the other 90% come to read and consume. If you don't capture and engage those folks, you will not be able to engage the broader network and spread your word. So, your choice of platform must enable you to grab these folks and influence the behavior you want from them -- the critical component here is what we call a reputation engine underneath the platform.
A third point is that your choice must support a breadth of interaction modes for your customers. For example, some of your customers will want to engage in discussion forums; others will want to engage in idea exchanges with others in the community or with you as a company; yet others will want to read articles created from community content in a tribal knowledge base. Each of these is a different application and caters to a different use case -- not having all modes available may mean that you miss an entire segment of the population you are tryign to engage.
A fourth point is that your customers and prospects are mobile -- they move across the web in places like Twitter and Facebook, as well as move around the physical world. So, you will want to make sure your choices allow you to engage with them wherever they are - not just when they are at your website and community. People love theri communities -- give them the ability to stay connected at all times.
A final point is that none of this canhelp you achieve your business objectives unless you are able to pull these socialinsights and interactions back into your everyday business processes. This means that the ability to integrate these social discussions into your existing CRM processes and systems is an important factor in your choices and strategy.
Our customers like Cisco, Barnes& Noble, Best Buy, and AT&T are achieving great results following these principles -- metrics like $10M a year in supoprt savings; 66% increase in sales; 30% reduction in churn rates; 20 point increases in NPS scores. These are obviously high level points that anyone at the Lithium booths can elaborate on, but I wanted to at least seed the discussion and recap some of the points that are making our customers successful.
hopefully a little useful!
Hi Abhijit,
Just saw your question about Social CRM and B2B programs and thought I'd jump in -- Brent Leary actually just went thorugh an example of how it is even workign for our business. Because we have a custoemr community built, a prospect went in and asked "is Lithium worth the money?" Because our customer community is integrated with our salesforce.com CRM system, the person's question actually showed up in that system (now, we no longer see just someone's name and phone number in the system, but the conversations thay are having). That allowed us to enage the custoemr network -- so, our customer Lenovo jumped in on the thread -- then our customer from Future Shop (Best Buy in Canada) -- that helped close the deal without our sales rep getting involved. More importantly, that thread has now been viewed over 3000 times, generating many, many leads.
Many of our B2B customers use the communities and Social CRM to drive brand engagement so that people are more inclined to find value in coming to them for solutions. For instance, Caterpillar is a customer who has developed a customer community and network that creates a community of experts who use/buy these sophisticated machines. Purely based on the organic search effects of Social CRM (we have seen customer increase their webtraffic by 100% with community and Social CRM), people find CAT more frequently beacsue of the great content and discussions being generated. This turns into leads. The same effect occurs at many other B2B companies like Pitney Bowes, Juniper, and others.
Would love to talk to you further about case studies if you want to drop by the Lithium booth at the Virtual Summit or just shoot me back a note!
Hi Abijit. Social CRM can definitely help with B2B demand gen. Specifically, it will help amplify and promote your message. Hence, every investment into demand gen has higher reach. Additionally, with a strong reputation management system, you can track those that are amplyifying your message - your brand advocates. One example of what we do here at Lithium is blog and tweet about content prior to our webcasts. This directly leads to new registrations at the webcast, which we can track with specific URLs (tracking URLs). After the webcast, we post the Q&A on the community to keep the conversation going, which often leads to more registrations to the on-demand version of the webcast.