Walt Denny Inc. Blog

Earning Loyalty: the Stats Behind Effective Social CRM

Social media is a natural and increasing first-line forum for customer service issues, from restaurant chains and utility providers to suppliers here in our home products industry. Social media platforms can at once be CRM (Customer Relationship Management) tools for innocent questions or sounding boards for a less-than-happy consumer. But the advantages lay with you when it comes to social CRM.

According to the McKinsey Global Institute, 50 percent of companies using social media say it has increased customer satisfaction. Research like this shows that both the business and the customer find the social customer relationship very meaningful.

With high-quality interaction and support, social CRM is a direct path in helping to keep customers happy and loyal, and attract new prospects.

Follow the Effective Path: Social Media in a B2B World

Do you consider yourself a pro or a novice when it comes to social media? Ultimately, it might not matter, as long as you really understand how to best leverage social media for your B2B messaging.

Why? Because there are organizations who have been on platforms like Twitter for a year or two, but who don't say anything compelling. Often, what you get is a broadcast message that is repeated - it's not interactive and it's not very useful either. Conversely, there are companies using meaningful messages, photos and video to generate leads and solidify existing relationships.

Effective B2B social media requires a plan, commitment and understanding of techniques to power through online noise with a truly magnetic message.

The Social Media Elevator: From Monitoring to Business-building Strategy

Important question: If you already know that social media is a marketing channel, how effective do you think yours is? Ultimately, to move up to the answer of "very effective," many factors have to be considered.

Beyond distributing content and commentary, social media involves monitoring - listening to understand why people are saying things or feeling emotions in connection with your brand. Social intelligence leaders are constantly doing this via their channels such as Twitter, Facebook and LinkedIn, many using dashboard monitoring tools. For 2011, nearly 38 percent of corporate social strategists said listening and learning about customers was a main social media goal, according to Altimeter Group. Another popular goal was fostering word of mouth at nearly the same percentage. To perform socially, you really can't have one without the other.

In the home products market, think about cases of positive and negative mentions that may happen on your social channels: someone likes a design or photo, notices you're in front with current trends, asks for help with installation or finding a dealer, lists something to improve for your next generation product, or asks a specific question. These and more possibilities can be in conversations directly with you or with peers and others.

Attract & Impress Customers with Brand-bolstering Social CRM

Customer issues move at light speed through today's web, putting comments and questions about your products and services out there for all to see, sometimes even going viral. While web users can speak to your brand in real time, you have an equal opportunity to shine through your social CRM, staying ahead of the curve and building a reputation as a customer care leader.

It all starts with taking the time to listen. Beyond monitoring - by understanding facts and emotions that are driving conversations about your brand, you can interact in a way that builds passionate brand admiration.

 

By using social media as a key driver of effective CRM, you can galvanize brand loyalty and enhance your brand's reputation.

Negative Feedback, Positive Experience

Being a part of an online community through social networking and blogging can be an extremely positive opportunity for your company to address your audience and facilitate communication. However, when negative feedback strikes, the news travels fast. That's why it's important to pay close attention to your online forums such as Facebook, LinkedIn and Twitter. In addition, have a proper plan of action in place so you can turn the negatives into positives quickly and effectively. Taking this proactive approach demonstrates that your company is responsive and wants to do the right thing for your customers.

There are several types of negative feedback which may appear in your online social forums or on your social media accounts. It can take the form of constructive criticism or problems your customers are having with a product or service. These comments can actually be positive by helping you better serve clients. Customers, however, may also leave complaints to voice general dissatisfaction. Having a large amount of spam comments can also be considered negative. Spam comments are posted by automated computer systems, usually used to repeatedly post unwanted links to other websites. It can be a detrimental distraction from useful and more important aspects of your business online.

What’s being said about Your Brand in Social Media?

It might sound strange, but Yelping and Digging could be very positive experiences – Yelp and Digg are among a number of sites that can provide a window into customers’ thoughts and opinions on a brand. By paying attention to web conversations at sites like these, marketers can gauge real-time reaction to their brand and its products or services.

 Nearly half of all Americans are on social media networks, and they're increasingly searching online for decision-making help. Social media monitoring allows companies to see what's being said about their brands, whether positive or negative.

Social media monitoring includes keeping on top of influential messages such as comments, blog posts, and tweets at network sites like Foursquare, StumbleUpon, Yelp, Digg and the ubiquitous Facebook, Twitter and YouTube. There’s also Hunch, a new ‘recommendation’ site that uses community-generated knowledge and users’ insight to help people answer questions and make decisions. Users have answered over 50 million questions.