Social CRM: Balanced Scorecard

I had previously written a post on SOCIAL CRM explaining what SOCIAL CRM is all about. Today, I will be sharing on what actually SOCIAL CRM means to companies and how should they percieve about it. While recently reading “The world is flat” blog, I bumped into “Balanced Scorecard for SOCIAL CRM” which I thought to share with you all.

From a financial perspective, how about measuring the profit through Improved Lead Management by listening to customer conversations, reminds me of “Tweets, Retweets” concept. Capturing the conversation happening between the organization and the customer in a system helps in better understanding and catering to their needs. A proper history/track of conversation is definitely a better way from turning lead-prospect, converting to an opportunity and then grabbing it.

The simple example of DELL India catering their customers in Twitters, listening to their problems, giving them solution…how about all those information flowing into SOCIAL CRM, the point being here the customer are not individuals but organizations.

There is always a fear among the sales force of losing their clients to other sales people in the same organization because of the targets and other factors but then there is a loss of information which happens in the process because of the fear. If I as a salesperson approach some customer and some conversation happen between me and him which I think can help other sales people who are targeting similar clients, why not share it with them and what better than a SOCIAL CRM which can help in the process ensuring free flow of ideas/discussions to others sales force. SOCIAL CRM can act as an incredible tool in forming an association among sales force and a platform for them to innovate and discuss ways which can help to improve and peform better.

And, when customer behaviour/conversation/insight is tracked, then definitely it guarantees a higher satisfaction among customers and that in turns ensures customer loyalty and retention.

Balanced Scorecard

Financial: Improved Lead Management, Improved Brand Image,Higher Cross/Upsell, Higher Profitability


Internal Business Processes: Innovation via Employee Ideas,Internal Social CRM enablement,Technology enablement

Customer:Higher satisfaction and retention,High service quality, high loyalty

Learning and Growth:Targeted Products, High Innovation (both made possible due to customer behaviour and insight)

IFFORT-YOUR GATEWAY to Social Media Consulting

Iffort is an India based web strategy & social media consulting firm that plans,
creates and executes a thorough road-map to deliver tangible value for its clients and their stakeholders.

Co-founded by Daksh Sharma, Iffort is the "IN" thing in the field of Web Strategy and Media Consulting.Iffort's value principles are built on working together with organizations of different scales & processes to define their overall objectives and help them leverage the social web in the right manner. The offerings span across businesses which lie in the WAP (Web Adoption Pyramid) framework.

Iffort's end-to-end web marketing activity covers the following:

1.Corporate Blog Strategy
2.SEO/SEM
3.Social media marketing
4.General internet marketing (Collateral creation and Email marketing)
5.Viral campaigns/ Viral applications
6.Corporate website (CMS migration)
7. Community strategy

If you think, your business needs a competitive edge, then look no forwards because IFFORT is the one stop solution for all your needs.

Truly, IFFORT is YOUR GATEWAY to SOCIAL MEDIA AND WEB STRATEGY!!!

www.iffort.com

Contact@iffort.com

SOCIAL CRM: The "IN" Thing...

CRM has always been a fascination for me. So, after all the buzz CRM has created focussing on the “constructive” interaction between a customer and a company, something else has taken a centerstage now. A new thing that has added a zing factor to CRM is “SOCIAL“. So, how different is SOCIAL CRM is from a regular CRM system??

The difference between these two is just one word, social. Social brings a new element into CRM because now instead of just dealing with data and information we are dealing with conversations and relationships. These conversations and relationships take place not just from company to consumer but also from consumer to consumer. The social CRM can be used by marketing and sales teams to listen to conversations, craft appropriate messages, join in immediately with customer conversation and offer them value in terms of information and solutions.

Social CRM has the ability to:

* Convert content to conversations therefore humanising a company so that customers regard the organisation as a trusted peer.
* Extend conversations into collaborative experiences, putting the customer at the core of a company’s strategy.
* Transform these experiences into meaningful relationships based upon real customer engagement.

Social CRM will help generate marketing intelligence, providing the marketing department with insight that will assist your company to source better leads and reduce customer support costs through self-helping communities.