social cri religence confidential part 1
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Social CRICommunity Relationship IntelligenceCommunity Relationship Intelligence
To Win in the Social Media Wild, Wild WestPart One
A Component of
The Religence Framework for CRICustomer Relationship Intelligence
CONFIDENTIAL DOCUMENTCONFIDENTIAL
©2009 Religence®, Registered USPTO, Patent Number US 7,526,434
There’s advantage to be won in the Social Media Wild, Wild West…
The playing field is tilted in favor of those who act: 1% of customer conversations (in public social media) are assimilated as organizational knowledge
9% touch the organization, but no learning occurs
90% never touch the organization2009 Consortium for Service Innovation
Customer feedback in general is not much better, but at least how invisible customers are here is private:
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at least how invisible customers are here is private: 95% collect customer feedback (by various means)50% alerted staffs30% used insight gained10% made improvements5% told customers of the changes made
2001 Gartner Referenced Study
79% of executives have only superficial understanding of their customers
2006 IBM Study
Win advantage in three ways…
BRAND VALUE
Reputation/ Promise:Affinity or reason to be affiliated with
the community and/or the sponsor(s)Community
Value
(1) Build value-creating communities…Three aspects of value are required for a community to BE. Initiatives—what the community DOES beyond being—build more value and increase participation/engagement.
Community Experience:Interactions, enabled
by technology
RELATIONSHIP VALUE
Delivery/ Use:Communication of
information of interest
PRODUCTVALUE
Value
Community Initiatives: Support, Evangelize, Collaborate- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
(2) Understand relationships better than competitors do. And (3) act on that
inside intelligence to• Take Real-Time Operational Control: Paradoxically,
in an environment where things look even more out of control than usual and what happens is public knowledge, winners can have more control and proactively influence outcomes through communities.
• Monetize Communities: Winners can tie the individual • Monetize Communities: Winners can tie the individual relationships developed through social media and purposeful communities to profit and other positive outcomes/patterns—to repeat success.
• Gain Sustainable Competitive Advantage: Winners can turn a data overload into actionable, proprietary intelligence to manage with a relationship development KPI and leading indicator for profit and satisfaction.
Who wins…v
1. Social Media Wild, Wild West WinnersTechnology Companies Who Enable Data Access and Delivery in Real Time and Companies Who Provide the Technologies, Business Methods, and Analytics Critical to Social Media and Communities. Obviously.
These are the winners, no matter what. They can be bigger winners if they act to
• Innovate/collaborate with their customers/user groups on • Innovate/collaborate with their customers/user groups on new approaches in the next generation of technology.
• Leverage their customer base/user group relationships to develop more business, other markets.
• Build upon their customer base/user groups in Stakeholder Communities to incorporate other relationships critical to their company’s success.
.
2. Social Media Wild, Wild West Winners
3rd-Party Community Players Who Collaborate with Stakeholder Community Marketers. They will act to use 3rd-Party Communities to
• Become part of the Stakeholder Community workflow.
• Measure and manage their part of the relationship development process and hand off interaction flows.
• Add value with benchmark data and pattern analysis.• Add value with benchmark data and pattern analysis.
Who Plays:
• Public and Private Label Media Companies who transform their content and conference businesses.
• Niche Marketers who own a market segment and the associated thought leadership.
3. Social Media Wild, Wild West WinnersCMOs and the CFOs Who Collaborate with Them. They will act to use Stakeholder Communities to:
• Take responsibility for retention where the money is.
• Own all of the relationships that matter for the success of the company. Leverage individual interaction flows.
• Use a KPI to measure and then manage relationship development for their company’s competitive advantage.development for their company’s competitive advantage.
• Tie individual relationships to profit and other positive outcomes/patterns to repeat success.
• Pilot real-time operational control for the Enterprise by starting in communities where relationships are king and social media and communities have paved the way for integration of Acquisition/ Closing/ and Retention.
Why Stakeholder Communities Matter: 1. A Stakeholder Community can be a hub for critical
interactions with customers and other key stakeholders.
Social Networks:
Links, WOM, Search
Communities fed by Social Networks, Social Media and Traditional
Stakeholder Community
Tactics
Traditional Direct Marketing
Tactics: Conferences,
Events, Surveys
Social Media Tactics:
Blogs, Tweets, RSS Feeds, WOM, Wikis,
YouTube
3rd Party Community: Links, WOM,
Search, Leads, Interaction Flows, Benchmark Data
and Traditional Direct Marketing Tactics are critical in executing a customer relationship strategy and creating value.
3rd Party Communitiescollaborate with marketers in Stakeholder Communities, becoming part of their workflow.
2. A Stakeholder Community can fulfill a variety of strategic purposes through its initiatives.
# Purpose Support Evangelize Collaborate
1 Solidify/invigorate your base/stimulate referrals X X X
2 Innovate/ collaborate on new approaches X X
3 Monitor trends/ refine messaging X
4 Enable self help to solve problems X X
5 Enable self help to expand use X X X
6 Build support for a cause/ an idea X X
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6 Build support for a cause/ an idea X X
7 Raise money/ resources X X X
8 Help members keep on a program/ path X X
9 Build a body of knowledge X
10 Respond to a social/ business need X X X
11 Make better use of resources X X
12 Change the rules/ world X X
13 Foster peace/ understanding X X X
14 And more… X X X
3. A Stakeholder Community is not only a critical place to leverage relationships and their interaction flows to build marketplace buzz and momentum, it has thepotential to be the center for corporate governance.
Employees/ Partners/ Supply Chain
What does it take to set up a community to measure and manage the data to achieve the operational control necessary?
Stakeholder Community Participants
Suspects/ Prospects/ Customers
External Influencers/ Interested
Parties
necessary?
What forces are at play to make communities such a logical place to pilot real-time corporate governance…
Real-Time Operational Control
Takes the Relevant Intelligence of Social CRI. • A unifying CRI FRAMEWORK to manage Acquisition, Closing,
and Retention as a continuum. (Social media and communities are driving integration of the Marketing, Sales, and Customer Service silos. That reality and that many of the interactions are already digital makes measuring and managing communities a logical place to begin.)
• Consistent relationship METRICS to track relationships and
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• Consistent relationship METRICS to track relationships and
their interaction flows. (Interactions, Interaction Costs, and the KPI for relationship development—Relationship Value—measure relationships in communities and in all other tactics for strategy execution as well.)
• A deliberate, systematic PROCESS using the unifying
framework and metrics to build profitable relationships and create value. (The value created in communities helps execute customer relationship strategies for segments with profit improvement potential. It is a natural next step to expand the process beyond communities to other tactics.)
A Unifying CRI FRAMEWORK To Measure and Manage Real-Time Community
Relationship Development
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Relationship development is the most important thing that people on the frontline in the Marketing, Sales, and Customer Service silos do. Yet typically, the silos are managed discreetly instead of being aligned behind a common strategy and managed explicitly for relationship development. Communities can be welcome process change agents.
Unifying CRI Framework, Consistent Metrics, and Deliberate, Systematic Process
From Communities to the Enterprise
CRI
CRI Segments
Enterprise
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Social Media Wild, Wild WestBlahBlahBlah Rules
Segments
Social CRI Communities
Blah
Blah
Blah
Operational Control for Frontline Staff and Managers in 3rd-Party
and Stakeholder Communities: Operational Social CRI (Community Relationship Intelligence) can answer:
• What is happening right now with individual community members? At what cost? For what effect?
• How does the community member experience compare to previous successful patterns?
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compare to previous successful patterns?
• What is best to do next to develop the community member relationship?
• What is the most profitable action to take?
• How well is this process working in real time?
Real-TimeDynamic Patterns
Real-TimeDecisions
Operational Control for Executives:Enterprise-level operation control rolls up from business units--which roll up from channel/product group combinations--which roll over from Stakeholder Communities. Operational control comes from where the action is as relationships are developed. Operational Social CRI (Community Relationship Intelligence) paired with CRI can help answer:
• Where are you making more money?
• Are you growing high-value customers? Real-Time
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• Are you growing high-value customers?
• Are Communities making a difference?
• How well are you driving profit and satisfaction?
• How can you achieve sustainable competitive advantage?
• How can you repeat success?
• Where should you focus next?
Real-TimeDynamic Patterns
Real-TimeDecisions
Real-TimeProfit Results
$
Unifying CRI FRAMEWORK for
Operational Control and Profit
Operational Social CRI�CRI Tracking System
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Analytical Tools Mashup Real-Time CRI Data with Enterprise Financial Data
Relationship METRICS
Relationship Value KPIPATTERNS
SocialMedia
MarketingAutomation
(AcquisitionPLUS
Retention)
CRMCustomer
Relationship Management
(Closing)
(Formerly Sales
Force Automation)
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Enterprise Applications
©2009 Religence®, Registered USPTO, Patent Number US 7,526,434
Three Reasons Why Religence to Win in the Social Media Wild, Wild West
1. Social CRI (Community Relationship Intelligence): A component of the Religence Framework for CRI, a business method to help you make sense of the data to
• Achieve real-time operational control,
• Tie the relationship development process to profit,
• Deliver sustainable competitive advantage.
2. Track Record in Building Successful Communities:Our engagement rate is three times the accepted norm because ours typically are purposeful communities with strong leadership and organizational infrastructure.
3. Our Experienced Cross-Functional Consulting Team: We bring Marketing, Finance, and Operations to the table—and on the same customer-focused plate.
Want to know more about Social CRI and Enterprise CRI?
More Resources in Social CRI Part Two:
• Drill down more in the Religence Framework for Social CRI and Enterprise CRI—the FRAMEWORK, METRICS, and PROCESS.
• Walk through a Value Creation Mapping example for a Community Collaboration Initiative.
Resources Elsewhere:Resources Elsewhere:
• Take a look at our CEO’s new book on Customer Relationship Intelligence at www.CRIbook.com.
• Review the Next-Generation Thought Leadership Papers and extensive CRI Reference Section and FAQ Section at www.religence.com.
• Join the CRI Community at www.CRIcommunity.com.
• Ask about Executive Briefings and Workshops.
In Summary…Executing strategy, retaining customers, and
earning profit require a customer-focused earning profit require a customer-focused orchestration of functions across the company.
Measuring and managing a community is a good place to start.
Interested? Contact our CEO directly:
Linda Sharp (415) 771-7473 [email protected] Green Street * San Francisco CA 94123
www.religence.comCONFIDENTIAL
©2009 Religence®, Registered USPTO, Patent Number US 7,526,434