Social CRM December 2012 Extract from various presentations: Altimeter, Forrester, Teradata Aster, …

What is Social CRM? CRM was about managing the customer Social CRM is about engaging with the customer “Social CRM is a business strategy designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted & transparent business environment. It's the company's response to the customer's ownership of the conversation.”

SCRM in six questions

What are your targets? Anyone who takes an interest in your organization should be considered as a target –Follower Facebook Page Member Reads your blog Signs up for Newsletter –Supporter Donor Volunteer Advocate Event Goer –Organizer More involved Plans meet-ups / events –Leader Cream of the crop May actually become a part of the organization

Most important shift Outreach Supporters Volunteers Donors Advocates Events Followers Newsletters Web Site Organizers Chosen Few Leaders Lucky to get one or two TargetsPyramid

Advocates are created through continuous –Engagement (conversation) –Transparency (visibility) –Authenticity (honesty, straightforward behavior) Approach to Advocacy - Strategy –Value Proposition: Creation of experiences and tools with products and services designed to appeal to a commonwealth of interest based on unique insights –Customer Strategy: Outreach to customers/potential advocates, Property development for customers – communities, tools, products, services available via company, Godin: Date your customers –Continuous Effort: Ongoing feedback, outreach, data tracking, program development, Constant desire for customer insight – not just data collection The metrics of advocacy - Net Promoter Score – Referrals as metrics –The one question that you need to ask your customer is “Would you recommend my company to someone you know?” –Measured against the detractors to come up with score, Word of Mouth most influential, Customer Lifetime Value (CLV), Customer Referral Value (CRV), Customer Brand Value (CBV) Advocacy: the Social Customer

Engage Across Multiple Functions

Consumer Social Web Tools BlogsPodcasts Social Network Services Wikis MicroBlogs Video Discussion Forums Widgets Online Reviews & Ratings

What Is Your Content Strategy? Twitter, Facebook, Blogs – all tactical ways to spread the word All too often people focus on the method of delivery and not the content! Who What How Whitepapers Annual Reports Breaking News Event Invites Whitepapers Annual Reports Breaking News Event Invites Twitter Facebook Blog Twitter Facebook Blog

Outbound-initiated Marketing (via asynchronous channels) Inbound-initiated Marketing (via Synchronous channels) Inbound Interaction Management Deploy event-driven, 1:1, “best-next-action” recommendations at the point of interaction – during the interaction Mail SMSWeb 2.0Call Ctr Branch IVRATM Web SlfSvc Real-timeJust-in-time Goal is to create a customer engagement You ARE engaged Marketing Campaign Management Convert outbound campaigns into 1:1, event- driven, connected customer conversations – over time Customer Analytics Population targeting & segmentation analysis SCRM: Touch-point Management

Customer Behavior Analysis BI ToolsDatabase ToolsMonitoring Tools STORE VISION PLATFORM DATA CALL CENTER DATA CORRESPOND- ENCE DATA BRANCH TELLER DATA ONLINE BANKING DATA CUSTOMER PROFILE DATA CUSTOMER SURVEY DATA

Aster MapReduce Analytics Portfolio PATH ANALYSIS Discover Patterns in Rows of Sequential Data TEXT ANALYSIS Derive Patterns and Extract Features in Textual Data STATISTICAL ANALYSIS High-Performance Processing of Common Statistical Calculations SEGMENTATION Discover Natural Groupings of Data Points MARKETING ANALYTICS Analyze Customer Interactions to Optimize Marketing Decisions DATA TRANSFORMATION Transform Data for More Advanced Analysis

Examples Challenges Large number of entities with rapidly growing amount of data for each Connectivity changing constantly Aster Data Value SQL-MapReduce® function for Graph Analysis eases and accelerates analysis Ability to store and analyze massive volumes of data about users and connections High loading throughput and incremental loading to bring new data into analysis Big Data Social Analysis: See the Network Understand connections among users and organizations Link analysis: predicting connections (among people, products, etc.) that are likely to be of interest by looking at known connections Influence analysis: identifying clusters and influencers in social networks

Data transformation utilities -Pack: compress multi-column data into a single column -Unpack: extract nested data for further analysis Web log analysis -Sessionization: identify unique browsing sessions in clickstream data Text analysis -Text parser: general tool for tokenizing, stemming, and counting text data -nGram: split text into component parts (words & phrases) -Levenstein distance: compute “distance” between words Aster Data Capabilities for Text Data Pre-built SQL-MapReduce functions for text processing Data Aster Data Analytic Foundation SQL SQL-MapReduce App Custom and Packaged Analytics Aster Data nCluster

Building Visitor Paths from Clickstream Data nPath Time Series Analysis identifies customer transitions between departments Clickstream Data hit_time_gmtvisidprop :42:07138Bedding & Bath :43:03138Bedding & Bath :46:55138Sports & Toys :47:32138Bedding & Bath :47:53138Bedding & Bath :48:42138Bedding & Bath :52:04138Home & Garden :57:32138Home & Garden prop1visidhit_time_gmt [Bedding & Bath, Sports & Toys] :42:07 [Sports & Toys, Bedding & Bath] :46:55 [Bedding & Bath, Home & Garden] :47:32 nPath Function nPath Results Teradata Aster nPath Analysis Discover Patterns in Rows of Sequential Data

What were Shoppers Searching for? Find “serious shoppers” who browse 5+ products in a session. After browsing, they perform 2+ fruitless searches, within 10 pages of each other. Within 5 pages of the last fruitless search, they abandon the site, perhaps frustrated. Comparison of Fruitless Searches by Serious Shoppers Slope trend down indicating Serious Shoppers outside the norm Likely to search for higher priced items Slope trend down indicating Serious Shoppers outside the norm Likely to search for higher priced items

Marketing Strategy for Success Multi-Touch Attribution  Go beyond “last click” and identify which ads and channels perform the best  Quantify which ads lead (attribute) to conversion  Calculate true ROI on a per ad basis  Run time-sensitive promotions by knowing which ads convert the fastest. Where should I increase my Marketing Spend to drive higher ROI? Customer Journey Leading to Purchase on Online Store

SCRM: Traditional Data

SCRM: New Data

SCRM Analytics

SCRM Traditional Analytics Tools

SCRM Analytics, Insight, and Intelligence Enrich traditional approaches: Customer Profiling Value Segmentation Behavioral Segmentation Propensity Modeling Clustering Basket Analysis Risk & Churn Modeling Response Modeling Recommendation Engines (Next Best Offer) Social Media Analytics: Analyze conversation data, Identify advocates of, and threats to, corporate reputation and brand, Quantify interaction among traditional media/campaigns and social media activity, Establish a platform for social CRM strategy