Social CRM is already enabling innovative companies to engage customers through powerfully effective two-way dialogues, and to build customer-centric strategies that drive real value. In this book the field's leading expert offers a proven, four-step methodology for making Social CRM work in any organization: B2B, B2C, or B2B2C. Writing for both decision-makers and implementers, Barton Goldenberg shows how to integrate people, process and technology to optimize relationships with every customer, achieve seamless collaboration across customer-facing functions, and make the most of today's leading social platforms. Goldenberg shows how to: Systematically harvest information from Social Media conversations and communities: Facebook, Twitter, LinkedIn, Google+, and beyond Integrate this information into expanded customer profiles Use these profiles to personalize your customer service, marketing messages, and sales offers far more effectively Goldenberg assesses the changing impact of social media on customer relationships, identifies smarter ways to profitably integrate it throughout your business, guides you through Social CRM planning and implementation, and examines key challenges and opportunities in leveraging Social CRM after you've deployed it. You'll find practical advice on issues ranging from strategy to software selection, vendor negotiation to team development and day-to-day operations. Goldenberg concludes by previewing the future of Social CRM - and the fast-changing customer tomorrow's systems must serve.
Chapter 1: Understanding Customer Relationships [Introduction] Jammy: Hi Canny! I'm delighted to discuss customer relationships with you today. It's a fascinating topic, and I'm sure you'll find valuable insights that will satisfy your thirst for knowledge. Canny: Thank you, Jammy! I'm excited to learn more about this subject. So, where should we start? [Exploring Customer Relationships] Jammy: Let's begin by understanding what customer relationships are. In simple terms, it's the connection a company has with its customers. It's about building trust, understanding their needs, and delivering value consistently. Canny: Ah, I see. So, is it more than just selling products or services? Jammy: Exactly! It's about creating a positive experience for customers throughout their journey with the company. From the moment they discover the brand to becoming loyal advocates, every interaction matters. [The Importance of Listening] Canny: How do companies understand their customers better? Jammy: Great question, Canny! Listening is crucial. Companies collect feedback through surveys, reviews, and social media. They also pay attention to customer behavior and preferences to adapt their strategies accordingly. [Personalization] Canny: Is personalization a significant aspect of customer relationships? Jammy: Absolutely! Personalization involves tailoring experiences to individual customers. By understanding their preferences, companies can deliver targeted offers and messages, making customers feel valued. [Cultivating Trust] Canny: Trust seems vital in any relationship. How does it apply here? Jammy: You're right! Trust is the foundation of a strong customer relationship. It's earned by fulfilling promises, being transparent, and handling any issues promptly and fairly. [Long-term Focus] Canny: Is customer relationship a short-term endeavor? Jammy: Not at all. Companies should focus on building long-term relationships. Loyal customers are more likely to recommend the brand to others, leading to organic growth. [Communication is Key] Canny: How do companies maintain a good relationship with customers? Jammy: Communication is key. Companies engage with customers through various channels like emails, social media, and support services. It's essential to be responsive and helpful. [Key Takeaways] Customer relationships go beyond transactions; they involve building trust and delivering value consistently. Listening to customers' feedback and preferences helps companies better understand their needs. Personalization enhances the customer experience by tailoring offers and messages. Cultivating trust is crucial for long-lasting relationships with customers. Effective communication and responsiveness play a vital role in maintaining strong customer relationships. [Conclusion] Jammy: That was an insightful conversation, Canny! Understanding customer relationships is fundamental for any business's success. It's about creating genuine connections and ensuring customers feel valued and heard. Canny: Thank you, Jammy! I've learned a lot, and I'm eager to explore more about customer relationships.
Engaging customers has become an effective strategy of marketers for improving customer-brand relationships as customer engagement is a perfect predictor of organic growth. Aggressive sales promotions, advertising campaigns, rewards, discounts, and more may attract a customer, but customer engagement creates an emotional connection with the brands/firms/services, which drives customer loyalty and long-term profitability. This has become much more applicable and effective with the use of social media platforms and the increased access of internet. Moreover, the implementation of customer analytics to measure engagement activities has provided marketers with more insights for improving services. Insights, Innovation, and Analytics for Optimal Customer Engagement is an advanced reference book that covers the latest emerging research in customer engagement and includes underlying theories, innovative methods, a review of existing literature, engagement analytics, and insights for marketers with reference to customer engagement. The book covers various product categories, industries, and sectors that are working to engage customers in inventive and creative ways. This book is a comprehensive reference tool for marketers, brand managers, social media specialists, advertisers, managers, executives, academicians, researchers, practitioners, and students interested in gaining comprehensive knowledge about customer engagement and the latest advancements in the field.
This book presents an extensive discussion of the strategic and tactical aspects of customer relationship management as we know it today. It helps readers obtain a comprehensive grasp of CRM strategy, concepts and tools and provides all the necessary steps in managing profitable customer relationships. Throughout, the book stresses a clear understanding of economic customer value as the guiding concept for marketing decisions. Exhaustive case studies, mini cases and real-world illustrations under the title “CRM at Work” all ensure that the material is both highly accessible and applicable, and help to address key managerial issues, stimulate thinking, and encourage problem solving. The book is a comprehensive and up-to-date learning companion for advanced undergraduate students, master's degree students, and executives who want a detailed and conceptually sound insight into the field of CRM. The new edition provides an updated perspective on the latest research results and incorporates the impact of the digital transformation on the CRM domain.
"The social customer is your NEW customer. And if you don’t recognize it, they will be someone else’s new customer. Adam Metz presents a clear, concise game plan for attracting them, connecting with them, and keeping them. Don’t just buy this book: invest in the content. Actually, invest time to implement the content." —JEFFREY GITOMER, author of The Little Red Book of Selling and Social BOOM! "This book connects two key dots in the customer equation: knowing why your customers uniquely do business with you and taking actions that cause them to repeat that choice more frequently." — RICH BLAKEMAN, sales vice president, Miller Heiman, from the Afterword "I’ve seen the future of marketing and it delivers in less than 300 pages. Adam Metz’s The Social Customer makes a compelling case for revolutionizing your thinking about how you connect and build a relationship with your customer in a fashion that shrinks your marketing team and amplifi es the love the world feels for you and your product. Not easy stuff, and, done the wrong way, it’s dangerous." — CHIP CONLEY, founder of Joie de Vivre Hospitality and author of PEAK: How Great Companies Get Their Mojo from Maslow About the Book IF you look at the people who follow your company via social media simply as "social media users," you’re missing a much bigger picture. They are, above all, your customers—and as such, they have a multitude of needs. But without the right social media strategy, they might not remain your customers for long. Adam Metz is prized by clients and online fans for his understanding of what makes both companies and their customers click—and how social media can get them in sync and drive revenue. In The Social Customer, he teaches you all you’ll need to know to transform your business—not just on the Web but across the board. Even if Facebook and Twitter were to disappear tomorrow, these are the fundamentals that will always apply—whatever the technology and whatever the social media. You’ll learn: How to transform your brand into a coveted "Social Object" Where your brand currently stands with your social customers—and how to mobilize your customers to get the word out The "The Ten Commandments of Social Customer Relationship Management" How to harness the power of collaboration How to delight your customers and win loyalty through individualized Treatment What terms like "Social Marketing" and "Social Sales Insights" really mean—and why they can be vital to business success Metz also includes anecdotes, case studies, and outside-the-box inspiration from branding innovators—ranging from upstart punk bands to absolute giants like Burger King and SAP—all designed to keep you thinking critically, creatively, and with the kind of flexibility that will keep your social customers engaged as your company grows.
Preface Corporations that achieve high customer retention and high customer profitability aim for: The right product (or service), to the right customer, at the right price, at the right time, through the right channel, to satisfy the customer's need or desire. Information Technology—in the form of sophisticated databases fed by electronic commerce, point-of-sale devices, ATMs, and other customer touch points—is changing the roles of marketing and managing customers. Information and knowledge bases abound and are being leveraged to drive new profitability and manage changing relationships with customers. The creation of knowledge bases, sometimes called data warehouses or Info-Structures, provides profitable opportunities for business managers to define and analyze their customers' behavior to develop and better manage short- and long-term relationships. Relationship Technology will become the new norm for the use of information and customer knowledge bases to forge more meaningful relationships. This will be accomplished through advanced technology, processes centered on the customers and channels, as well as methodologies and software combined to affect the behaviors of organizations (internally) and their customers/channels (externally). We are quickly moving from Information Technology to Relationship Technology. The positive effect will be astounding and highly profitable for those that also foster CRM. At the turn of the century, merchants and bankers knew their customers; they lived in the same neighborhoods and understood the individual shopping and banking needs of each of their customers. They practiced the purest form of Customer Relationship Management (CRM). With mass merchandising and franchising, customer relationships became distant. As the new millennium begins, companies are beginning to leverage IT to return to the CRM principles of the neighborhood store and bank. The customer should be the primary focus for most organizations. Yet customer information in a form suitable for marketing or management purposes either is not available, or becomes available long after a market opportunity passes, therefore CRM opportunities are lost. Understanding customers today is accomplished by maintaining and acting on historical and very detailed data, obtained from numerous computing and point-of-contact devices. The data is merged, enriched, and transformed into meaningful information in a specialized database. In a world of powerful computers, personal software applications, and easy-to-use analytical end-user software tools, managers have the power to segment and directly address marketing opportunities through well managed processes and marketing strategies. This book is written for business executives and managers interested in gaining advantage by using advanced customer information and marketing process techniques. Managers charged with managing and enhancing relationships with their customers will find this book a profitable guide for many years. Many of today's managers are also charged with cutting the cost of sales to increase profitability. All managers need to identify and focus on those customers who are the most profitable, while, possibly, withdrawing from supporting customers who are unprofitable. The goal of this book is to help you: identify actions to categorize and address your customers much more effectively through the use of information and technology, define the benefits of knowing customers more intimately, and show how you can use information to increase turnover/revenues, satisfaction, and profitability. The level of detailed information that companies can build about a single customer now enables them to market through knowledge-based relationships. By defining processes and providing activities, this book will accelerate your CRM "learning curve," and provide an effective framework that will enable your organization to tap into the best practices and experiences of CRM-driven companies (in Chapter 14). In Chapter 6, you will have the opportunity to learn how to (in less than 100 days) start or advance, your customer database or data warehouse environment. This book also provides a wider managerial perspective on the implications of obtaining better information about the whole business. The customer-centric knowledge-based info-structure changes the way that companies do business, and it is likely to alter the structure of the organization, the way it is staffed, and, even, how its management and employees behave. Organizational changes affect the way the marketing department works and the way that it is perceived within the organization. Effective communications with prospects, customers, alliance partners, competitors, the media, and through individualized feedback mechanisms creates a whole new image for marketing and new opportunities for marketing successes. Chapter 14 provides examples of companies that have transformed their marketing principles into CRM practices and are engaging more and more customers in long-term satisfaction and higher per-customer profitability. In the title of this book and throughout its pages I have used the phrase "Relationship Technologies" to describe the increasingly sophisticated data warehousing and business intelligence technologies that are helping companies create lasting customer relationships, therefore improving business performance. I want to acknowledge that this phrase was created and protected by NCR Corporation and I use this trademark throughout this book with the company's permission. Special thanks and credit for developing the Relationship Technologies concept goes to Dr. Stephen Emmott of NCR's acclaimed Knowledge Lab in London. As time marches on, there is an ever-increasing velocity with which we communicate, interact, position, and involve our selves and our customers in relationships. To increase your Return on Investment (ROI), the right information and relationship technologies are critical for effective Customer Relationship Management. It is now possible to: know who your customers are and who your best customers are stimulate what they buy or know what they won't buy time when and how they buy learn customers' preferences and make them loyal customers define characteristics that make up a great/profitable customer model channels are best to address a customer's needs predict what they may or will buy in the future keep your best customers for many years This book features many companies using CRM, decision-support, marketing databases, and data-warehousing techniques to achieve a positive ROI, using customer-centric knowledge-bases. Success begins with understanding the scope and processes involved in true CRM and then initiating appropriate actions to create and move forward into the future. Walking the talk differentiates the perennial ongoing winners. Reinvestment in success generates growth and opportunity. Success is in our ability to learn from the past, adopt new ideas and actions in the present, and to challenge the future. Respectfully, Ronald S. Swift Dallas, Texas June 2000
When executives hear the term "customer relationship management" (CRM), they often break out in a cold sweat amid visions of six- or seven-figure implementations of staggeringly complex systems. But have no fear, you won't stumble over such looming obstacles in James G. Barnes's book. Rather he chooses an old-fashioned approach to CRM: actually building relationships with your customers. Barnes provides a variety of techniques to accomplish this basic task. Some of his suggestions are fresh and inspired, while others will sound pretty familiar to anyone in business. Either way, he documents them with his own thorough research and insightful accounts from other writers. Some readers will miss the nuts-and-bolts technical analysis that has come to define the modern concept of CRM, but getAbstract recommends this book to executives, marketing professionals and customer service managers who want to get back to traditional business values.
CRM first entered the business vocabulary in the early 90’s; initially as a systems driven technical solution. It has since escalated in importance as system providers increased their market penetration of the business market and, in parallel, CRM’s strategic importance gained more traction as it was recognized that CRM was, at its heart, a business model in the pursuit of sustainable profit. This was accentuated by the academic community stepping up their interest in the subject in the early 2000’s. Today, it is a universal business topic which has been re-engineered by the online shopping revolution in which the customer is firmly placed at the center of the business. The current reality, however, is that, for the vast majority of businesses, CRM has not been adopted as a business philosophy and practicing business model. It has not been fully understood and therefore fully embraced and properly implemented. The author addresses this head-on by stripping CRM down into its component parts by delving into and explaining the role and relevance of the C, R, and M in CRM. This is a practical guide but set within a strategic framework. The outage is clear actionable insights and how to convert them into delivery. It is written in an easily digestible, non-jargon style, with case studies to demonstrate how CRM works. This book can be immediately used as the primary practical reference to guide the development and implementation of a CRM strategy.
This title presents an holistic view of CRM, arguing that its essence concerns basic business strategy - developing and maintaining long-term, mutually beneficial relationships with strategically significant customers - rather than the operational tools which achieve these aims.
