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How To Plan, Justify and Execute Your Journey from CRM to Social CRM

 

Extracting Value From Social Interactions

SCRM as a business strategy is clearly an immature model. Just as in traditional CRM, the true value of Social CRM is in analyzing data that is gathered in available channels so that the information can become actionable. Unfortunately, the metrics and analytics for extracting value from social channels are still a work in progress. Unstructured conversations in places like Facebook and Twitter are challenging when it comes to developing algorithms. Serious efforts in the development of analytics for social media have only been in the works since about 2007. Even with the first generation of solutions in the marketplace they haven't been at play long enough for a track record to emerge that can be tested and refined into a set of best practices.

Having said that, a great deal of thought has resulted in early models that are showing promise. Analysts, consultants, software developers and others are creating and testing methodologies and technologies. The next few years will see tremendous progress that will result in mature software solutions that will eventually succeed in merging data gathered from the social streams with that of one-on-one channels for a mature CRM solution.

Profiles of Social Customers

As with traditional CRM, customers in social networking sites are unique but can be segmented for analysis and response purposes. Some people are extremely active, knowledgeable and influential. Others are information gatherers. The more you examine behaviors in social media the more complex the picture becomes and the greater the potential for insights.

The study of sociographics has been employed to get a handle on online behavior. Sociographics track how much time a person spends in a site and what they do when they're there. Behavior patterns predict future behavior, whereas demographics only suggest customer profiling and categorization. Forrester Research has created the following Social Technolographic Profile of US Online Adults that breaks down social network participants by socially observed behaviors and demographic patterns.

  1. Creators. These online participants publish a blog, publish your web pages, upload other peoples videos or music and write articles or stories.

  2. Critics. These commentators post ratings and reviews of products and services, comment on other peoples blogs, contribute to online forums and insert or edit articles in wikis.

  3. Collectors. These gatherers use RSS feeds, bookmark or vote for their favorite web sites and add self explanatory tags to Web pages or photos.

  4. Joiners. The community members maintain profiles and visit social networking sites.

  5. Spectators. These bystanders read blogs and online content, listen to podcasts, watch videos and read user generated content such as online forums and customer reviews.

  6. Conversationalists. These socialites tweet or update their social network status daily or weekly.

  7. Inactives don't do any of the above.

Each online profile is associated with a specific set of demographics. Conversationalists, for instance, are 56 percent female with an average age of 36, and average income of $81,200. Such specific information is a gold mine to marketers and salespeople.

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The CRM to Social CRM Special Report

 

 

Quote

A great deal of thought has resulted in early models that are showing promise. The next few years will see tremendous progress that will result in mature software solutions that will eventually succeed in merging data gathered from social media with that of one-on-one channels for a mature CRM solution.

 

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