Sword Ciboodle Presentation (Steven Thurlow, CTO)

• SCRM <> Social Media Interactions but SCRM >> (much more) Social Media interactions
• Social Media is a new, vital and exciting set of channels. The issue is not social media but the rest of the organization. The icing needs a cake
• Engagement is a continuum: be-solo, be-served, ve-social through costumer community, customer service & sales, costumer intelligence
• You need to be excellent to stimulate positive customer advocacy
• You have to be proactive. When there is a problem, discover and fix it quickly
• Speed of response. Social media has open doors to the voice of the customer. Can you respond at a speed that benefits your business? Be agile changing processes and making the flexible
• Empower people (both your employees and customers) giving them the tools
• Be transparent to be trusted
• No talk at all about the product

Marketing to be the Social Customer (Bruce Culbert)

• “We have only two scores of competitive advantage: the ability to learn more about our customers faster than the competition or the ability to turn that learning into action faster than the competition” – Jack Welch, Former CEO GE
• Building blocks of CRM + Social: Customer centric corporate vision, customer engagement strategy, valued customer experience, organizational collaboration & empowerment, CRM process-buying cycle-customer process, customer and company information, CRM & social media technology (from Gartner)
• Exercise on the impact Social CRM has on different types of marketing (type of marketing, definition, impact of SCRM)
  • Demand Generation, getting more leads/opportunities on top of the funnel and moving them through the funnel to get bigger sales in a shorter time frame, H
  • Revenue Generation, marketing processes that are driving revenue (lead generation processes, not loyalty or branding), H
  • Revenue performance management, coordination between sales and marketing with metrics to optimize the two of them., L
  • Brand image marketing, establishing trust in the brand, H
  • Relationship/loyalty marketing, creating stronger connections with customers, M
  • Business to Consumer (B2C), marketing to support selling to consumer, H
  • Business to Business (B2B), marketing to support selling to business ,  L M H
  • Business to Business to Consumer Influencer Marketing (B2B2C), – , H
• So Social is already or is going to affect every marketing dimension and if you look at the customer participation and influence decision in most industries, Social is affecting them too
• Most credible source for information about a brand on social networking site is another brand (<5%), a marketer (<5%), the brand itself (near 30%), a consumer (near 40%) – InSite Consulting “Social Media Around the World” 2010 shows that customers are still trusting the brand but more their peers
• Share to Social should be incorporated into everything you do online to spread the word
• Social Marketing Multiplier means that the messages customers are sharing get enormously amplified by their networks, from 1 person to millions to allow or messaging/experience to be shared. You can provide the same tools to make it happen
• The new marketing model: customer strategies move from broadcast to engagement. Not about company’s sales process but more customer buying process. If I’m a business buyer the buy cycle for B2B goes through aware (knowing), discover (understanding more through content), compare (products and competitors), purchase
• The revenue funnel include both marketing and sales getting both the number and quality of inquiries to be increased from target, inquiries, leads (marketing until now), opportunities (sales from now on), customers. In the same order customers are untroubled and unaware (universe), interest established (suspect), acknowledge problem (prospect), looking for  a solution (marketing & sales qualified leads), evaluate solution (opportunity), customer (sale). To drive more revenue you need to get an aligned process.
• Social media channels drive the top of the revenue funnel. Social media has the power to dramatically increase the number of items at each stage through an higher exposure
• The overal goal of revenue marketing is generating more leads and improving the funnel, improving conversation rates
• Sale and marketing alignment: adjustment, visibility, distribution, explicit and social behavior, campaign and intent
• To align them you need to
  • lead scoring created both by sales and marketing
  • vested interested in each others success
  • campaign and program debriefs with inside sales
  • sales help to shape the messaging direction of lead generation
  • marketing compensation tied to sales success
  • marketing attending sales calls
  • periodic surveys
• Case Study TD Garden: using social marketing along with event marketing to drive more prospects to the top of the revenue funnel. How to get more people interesting in what I’m doing?
  • Goal: fill the seats for all events (200 events/yr) in the Boston Garden Arena and get new prospect/leads into the database (1M records)
  • To capture information from the masses quickly and effectively before and during the TD Garden Ticket Giveaway to help fill the top of the funnel
  • The used traditional media (tv, radio, newspaper) for 5 tickets for every event in the Stadium (but they had 40K seats to fill). 42K people showed up, a lot of publicity, they generated a lot of social buzz. If you did not win, you are registered to a second campaign
  • they created a redemption coupon that adds value online to subscription program with open rate of 44% and visitor click through 18% on emails. Second chance to win through sms to get other 6K forms. Different messages for different customers
  • 20K exposed to the promotion, 85% of the forms submission were not in the database and 24% converted, 73% of text entrants were not in the database and 33% converted to a ticket purchase. Leveraged Twitter to extend the promotion
• Uses of SCRM for Marketing
  • Lead Generation
  • Lead Qualification
  • up selling/cross selling using referrals
  • influence the influencers
  • brand monitoring
  • campaign response and feedback
  • product launch response and feedback
  • facilitating and sharing of common contracts and approaches to support the selling process
  • generating brand awareness and visibility (contests)
  • Increase web traffic and add revenue
• Use mobile marketing for demand generation. Utilize inbound and outbound SMS service and connect those SMS services to marketing automation tools
• Use blogs to establish a dialogue, rss feeds, blog with links to others to influence them, comment or subscribe to become visible
• Use Twitter by monitoring twitter activity ad interacting with prospects and influencers. Profile influencers by scoring Twitter activity in Marketing automation, auto-follow by keywords to organically build list of followers
• Use Facebook for business to get found by 500m people who may be searching for your products or services, connect with current customers to up sell and cross sell, create a community around your business, capture of shared profile info into the CRM, promote other content you create, identify primary influencers, drive facebook integration back to your site for richer content
• Goal: social activity drives marketing execution using social activity as a part of the CRM and driving marketing execution
• Understanding the buyer: explicit info and characteristics (demographics), implicit behavior behavior, intent, social behavior
• After scoring your prospect you have to serve them in a specific way
• A new unified revenue performance management process putting together both the vision and the tools in sales connected customer facing areas
• Satisfaction, loyalty and advocacy:
  • measure satisfaction to the degree possible at every interaction
  • make it easy for customers to provide feedback
  • talke action to cure errors quickly and empowering employees
  • measure loyalty and customer lifetime value
  • identify advocates and engage them. Not all advocates have to be loyal customer
  • identify detractors and engage them, don’t ignore them. Fix issues before people become detractors
• Simple ROI on Social Media Marketing
  • To measure ROI you just need to know the value of a customer, revenue cycle analytics to know conversion, cost of the programs and resources producing leads. ROI is that simple!
  • ROI Measurements: cost per number of engaged prospect, number of leads, numer of qualified leads, ratio of qualified to non qualified leads, cost of lead, time to qualified lead, lead conversion, number of pre-sales reference calls to other customers, average new revenue per customer, lifetime value of customer

Panel with Paul Greenberg, Esteban Kolsky, Bruce Culbert

• How to create customer centric companies? Bring the customer at the center of the business. That’s not an abstract concept. It’s acting on what the customer wants. The customer participates with you in identifying what is mutual beneficial. Engage the customer in your business proving that you act on their feedbacks. Build platform that permits joined creation (collaborative enterprise). This transparency builds trust. You need to give more information to the customer. Social just adds another layer. Hierarchical orgs are not very good at adapting
• What’s the competitive advantage for companies entering the Social CRM space? Not so much about being different or competitive. Becoming more social is starting to match the way the customer and society is becoming. It’s about learning what is important to your customers and building with them. It is a must no longer a choice.
• Why do you think social media will remain into the market not like SecondLife? Social is not another channel, it is a paradigm. People are social and businesses are helping them to discover the value. Many channels die but what stays is capturing actionable insights to create opportunities
• How to connect social media marketing and revenue? Correlating social activity to the bottom line is honestly challenging but it’s already happening

Checking the right brain: Experience and Social Customer (Paul Greenberg)

• CRM is the only science of business that attempts to reproduce an art of life
• The objective: the customer experience has always been at the core. Experience should be good enough to ideally create “a company like me”. If I like you, I’ll keep doing business with you, otherwise not. But with many customers you have to understand how much valuable is what customers are asking for. It’s not just about value but also about the emotional dimension
• The ideal results come in 3 parts:
  • The ordinary is kept ordinary. Simple interactions not terrible meaningful but that must simply work. Nobody is looking for delight here
  • Customer’s expectations are exceeded. exceeding customer expectation but understanding what that means in terms of cost. The customer remains delighted even as the expectation threshold is raised
  • A flexible approach, processes/best practices and an ongoing cultural/organizational support are institutionalized
• Attention and  expectations:
  • Competing against yourself. Businesses provide experiences that set customer expectations. That’s across all channels. That’s how the bar is set. Serious complexity in expectations. Margin of utility. Looks for functionality not only the cool factor and consider that each one has a different standards. Customer experience is complex. To understand how customers think, you have to dig.
  • You cannot presume for a customer, you have to ask them.
• We have a granular understanding of our emotion and companies have to look for this level of understanding from customers. You have to evoke positive emotions (like a lot, love)
• Not a good customer service or experience, but it’s how to scale that experience. Technology can automate only a piece of this work
• Customer value isn’t just a good deal, it’s a good experience. People as customer value: accomplishment, beauty, creation, community, duty, enlightenment, freedom, harmony, justice, oneness, redemption, security, truth, validation, wonder
• Social characteristics: how humans interact in social media. Core characteristics: identity, objects, context. Other characteristics
• Reputation, Influence, Persuasion:
  • What are the influencers called? Influence is not based on a single channel, measured only in # of followers
  • Influencers are characterized by being the departmental “mommy”, people trust them, someone like me on specific topics or person who arises organically to lead. Don’t measure followers just because that’s easy.
  • Use cases: Orbitel (Colombia), Dell Hell, Insurance company for interim CRM solution
• The Collaboration Value Chain: most important part of Social CRM where E20 meets Social CRM:
  • Enterprise value chain: company has to work seamlessly with partners/channel, vendors/suppliers, external agencies to give a great customer experience
  • Collaborative Value Chain: with a social customer, company has to work seamlessly with partners/channel, vendors/suppliers, external agencies and customers. Give the customers what they need to have they job done.
• Case Study: Procted & Gamble 2010 is the only holistic Social CRM strategy that exists at the moment, but they don’t call it Social CRM
  • 300 brands, 2 billion consumers affected and 6 billions as a goal
  • A.G. Lafley wanted to improve customer experience in customers terms every time they touch the brand when he joined
  • Perhaps the most innovative company in US when it comes to understanding the benefits of costumer ecosystem. Desired consumer experience as their primary design focus using ethnography to understand individuals’ activities.
  • Contemporary marketing: developed Secret Sparkle body spray and launched blog SparkleBodySpray.com (12K visitors per week, 25 minutes per visit) with bloggers representing characters (Vanilla, Tropical, Peach, Rose) targeting
  • Results: 0.8% of the $10.4B antiperspirant/deodorant market through a press release and a blog!
  • Then launched BeingGirl.com for younger girls
  • Streamlining supply chain because of understanding of the enterprise value chain and its relationship to customers (2002)
  • KPI: out of stock rates, total supply chain response time, pricing design from the shelf back
  • Results: annual savings between $50 and $100 milion
  • Connect + Developt is a crowdsourcing project for getting ideas, also in Innocentive. 50% ideas for products come externally, R&D productivity up 60%
• Case Study: Vocalpoint another case study focused around the co-creation of value and user communities on 600K moms as a proxy to other moms. Used social media to understand customer feedbacks. In 2001 20% ideas, products and technologies external, in 2004 35%, in 200X 50%. BMW is another example of this same kind
• Case Study: Philadelphia Flyers:
  • Strategy: engage all the fans all ways. Know each fan’s individual lifestyle to customize accordingly. Measure, measure, measure, learn, learn
  • Program called “How You Doin”: all staff at both HQ and Wachovia Center trained and compensated on: greet everyone who comes into stadium, answer questions for all comers, go beyond for customers. Not implementing software but leveraging the company culture. Embedding listening into everything we they do internally and externally.
  • Interacting with customers online and offline they have an extensive amount of data about customers. Match ticketholders with people like them . Booked the Hall of Fame of Wachovia for the first intermission for each of two games inviting 30 accounts each night to give them icecreams and let you know others talking about individuals and their renewals. Customers are getting personal attention
  • Idea: “You don’t need to have luxury, you only have to feel luxurious”
  • Results: tickets went up 24% in 2009 during recessions
  • Steps: strategy, customer knowledge, designing the experience, training staff, compensation for staff, clear on ROI, implement
• Case Study Target: commercial showing that they follow customers in their life selling to mothers and then to mothers for daugherts
• Customer for life (Target), feeling food (Lane Bryant), Coolness (Best Buy), Feeling Luxurious (Luxury Institutes). Care about customers to create a customer like me
• Mapping the experience: to understand the experience you have to find out more. Know your customer. Make sure that the perception of the vision of the customer experience is consistent across the company. You need a strategy for the entire value chain. From focus groups and surveys  to customer mapping, microtagging, social tagging/folksnomies
• The customer map: granular process across channels with expectations against the interaction (who much a touch point matters). Involve executives in the interviews and compensate customers.
• Never presume for customer
• Case Study Dialog Telecom, Sri Lanka:
  • 6M customers, top valued brand in Sri Lanka, they map customer experience daily and manage customer lifecycle end-to-end. Adjusting web experience on the flight looking at customers’ behavior. Special personalized offers
  • Bonding and relationships for the long term, not just revenues. Making people life easier
• Approach to advocacy: value proposition, customer strategy, continuous effort. An advocate will find other customers for you and that is not expensive and more you know, the more it can get personal. Dangers: they will spread the word about their bad experience.
• NPS doesn’t measure advocacy. Have a look at “Managing customers for profit” by Dr.V.Kumar about Customer lifetime value, customer referral value, customer brand value
• The new holy grail is a company like me, not a 360° view of the customer!