Creating Social Business Experiences

MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 1

Creating Social Business ExperiencesOctober 2011

Customer Experience

Featured Mzinga Webcast:


Alan F. NugentMzinga CEO

@AlanFNugent [email protected]

Introductions

Eve SangenitoMzinga, VP Marketing

@[email protected]

MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 3 3

Being social is about interacting & engaging each other & sharing ideas… so the best way to experience it, is to just jump in and do it!

Feel free to tweet about our discussion (#mzinga)

Join the chat. If you have any advance questions during the presentation, just add them into the chat now and we’ll address them at the end of the session

We also know some of you will prefer to just listen; that’s cool too

After the event, the following materials will be made available to all of you:• Presentation slides

• Webinar recording

• Chat transcript

Session Follow-up

A Few Housekeeping Items…


Today’s Agenda

Topics

The Changing Business Landscape

The Social Business Model & Key Experiences

Getting Started In Your Organization

Q&A


The pressure on businesses is higher than ever to…

5


According to IDC, the cost of NOT easily finding information = $3,300 per employee each year

(That’s $3.3M in annual lost opportunity cost for a business of 1000 people)

Work smarter & more efficiently.

6


30% of consumers rely less on advertising, and much more on recommendations from friends and family for making buying decisions.

Build brand credibility & buyer trust.

7


More than 90% of customers' issues haven't been unearthed in most organizations, and in addition, often the organization doesn't have answers for them, according to Forrester Research.

These issues lead to long support calls, poor issue resolution, cost increases and customer dissatisfaction.

Reduce customer response times.

8


The primary driver of a consumer's loyalty is their experience with your business, product or service.

Yet, marketers on average only invest

20% of their programs in loyalty and customer experience efforts.

Improve customer loyalty & satisfaction

9


Introducing the Social Organization…


The Elements of a Social Organization

A New Model

IdeateFlickr image uploaded by Caveman (Kickin' 66 with Pete Zarria)Shared under Creative CommonsAttribution-No Derivative Works 2.0 GenericLicense

ShareFlickr image uploaded by Ed YourdonShared under Creative CommonsAttribution-Share Alike 2.0 GenericLicense

ListenFlickr image uploaded by andronicusmaxShared under Creative CommonsAttribution 2.0 GenericLicense

ChangeFlickr image uploaded by adam*bShared under Creative CommonsAttribution 2.0 GenericLicense

http://www.flickr.com/photos/caveman_92223/

http://www.flickr.com/photos/yourdon/

http://www.flickr.com/photos/24258698@N04/

http://www.flickr.com/photos/atbartlett/


Social Business Ecosystem

Partner Experience

Employee Experience

CustomerExperience

Brand Experience

• Streamlined client acquisition

• Customer engagement

• Loyalty & retention

• On-demand support

• Listening & engagement

• Brand building• Demand

generation• Social

commerce

• Social business outsourcing

• Indirect revenue streams

• Developer networks

• Engagement & collaboration

• Satisfaction & retention

• On-boarding & recruiting

• Social learning

Mzinga Social Business

Ecosystem


Forces Changing Business Dynamics

Changing workforce &

customer dynamics

Failure of traditional

hierarchicalprocesses alone to meet varied business needs

Increase in social media adoption

Source: Constellation Research

BusinessDrivers for Social Business Experiences


Employees Are Already Using It


New Approaches Improve Satisfaction


Brand & Customer Engagement…

Source: Forrester


And Overall Customer Experience


• How can I reduce support costs?• How can I reduce response times in addressing client issues?

• How can I improve customer retention & loyalty?

• How can I innovate my products faster?• How can I stay abreast of market research for R&D?• How can I streamline product development?

• How can I develop long-term relationships with customers?• How can I reduce sales cycle?• How can I accelerate new client opportunities?

• How can I improve brand visibility?• How can I drive enhanced demand generation?• How can I increase website traffic & ad revenue?

Solving Real Business Challenges


What does it mean to foster a social “customer experience”?


…to engage the customer in a collaborative conversation in order to provide a mutually beneficial value in a trusted and transparent business environment.

“”

- Paul Greenberg, Author CRM at the Speed of Light: Social CRM 2.0 Strategies, Tools, and Techniques for Engaging Your Customers


It is not about the technology, it is about the people, process and cultural shifts necessary to support and grow a business with the social customer.

“” - Mitch Lieberman,

Comity Technology Advisors

Ultimately social media is not about the tools, technology and whiz-bang things. It’s about culture and culture change.

“” - Scott Monty, head of social

media Ford Motor Company


Consistent Customer

Experience

1

35

A consistent, engaged customer experience aligned with a comprehensive customer lifecycle is essential …

4

6 2

Awareness & information gathering

Purchase experience

Implementation/on-boarding experience

Ongoing product/service experience

Ongoingcommunication & engagement

Continued support

From the Customer’s Perspective

Customer ExperienceSolutions

Acquire

EngageSuppor

t

From your Perspective Increase sales team collaboration and enable more direct target buyer interactions- ultimately reducing sales cycles.

Develop more interactive, mutually beneficial relationships with customers that improve satisfaction & retention.

Significantly reduce support costs and improve customer response times by making your team readily accessible to customer needs in real time.


Let’s look at a few examples…


Business Goals

Solution Overview

Social Commerce: Integrated ratings & reviews on all online products for sale on an eCommerce website

Results & ROI

• Increase revenue through product ratings & reviews

• User reviews improve buyer trust, and drive customer retention

• 2.9M unique visitors monthly• Increased web traffic • Increased product sales for highly

rated products

Use Case: Customer Acquisition

A specialty retailer and direct marketer of nutritional products ranging from vitamins and minerals to nutritional supplements, with more than 400 locations in 37 states.


Business Goals

With nearly [60,000] members and several hundred posts, myretirement.org seems to have established a solid footing among plan participants.

Solution Overview

A private, online community where annuity clients can network, interact, and discuss financial and lifestyle topics

Results & ROI

Improve engagement drive loyalty among the organization’s most valuable & influential customers

• Increase revenue• Increase membership• Cultivate business intelligence &

market research

• Significant community adoption • High community retention rates• Increased participation in financial

services programs“ ”

Use Case: Customer Engagement


Business Goals

Solution Overview

Peer-to-peer support forums embedded within the SyncMyRide product site, including integrated vehicle avatars & pre-moderation

Results & ROI

• Provide more timely, efficient customer support and product research

• Establish a user-generated knowledge base of Sync product information for on-demand reference

• Over 14k active members• More than 5M message views• Reduced customer response times• Decrease in Sync support costs• Direct access to product research

An American multinational automaker, the second largest in the U.S. and the fifth-largest in the world based on annual vehicle sales in 2010 at $40 trillion.

Use Case: Customer Support


What does it mean to foster a social “employee experience”?


Today's workplace is diverse, distributed and full of context shifts. Investing in collaborative business practices is essential to productivity and competitive advantage.

“”

More techniques and technologies will emerge that incorporate social software, and the lines between learning, talent management and human capital management systems will continue to blur.

“”

Source: Gartner


Collaborative Employee Experience

1

35

A collaborative, interactive employee experience aligned with key business processes is key to building an effective workforce…

4

6 2

Recruiting & On-boarding

Communication & Collaboration

Learning & Development

Innovation

Performance & Career Development

Satisfaction & Retention


Let’s look at a few examples…

MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 31 31Mzinga, Inc. Confidential

Business Goals

Solution Overview

An interactive forum where job seekers can find information and resources to further their career goals

Results & ROI

Connect job seekers directly with Monster.com experts, hiring companies and their peers to plan the next steps in their career path to improve user engagement, and offer users added value to build loyalty

• Improved user engagement• Streamline recruiting for organizations

and job seekersWe wanted to create an interactive forum where job seekers could find information and resources to further their career goals. The Advice Forums allow our members to connect directly with both our experts and their peers to plan the next steps in their career path.“

”

Use Case: Social Recruiting

MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l MZINGA.COM 32 32Mzinga, Inc. Confidential

Business Goals

Solution Overview

Deliver an enterprise-wide ecosystem to manage knowledge sharing for 28,000 geographically dispersed employees.

Results & ROI

Reduce training overhead by while continuing to address the same level of employee competency

• 60% reductions in training admin staff needs

• 90% reductions in training vendor needs

• Saved $10M with eLearning adoption

The world’s premier measurement company—advancing electronics, communications, life sciences and chemical analysis, with customers in 100 countries, 28,000 employees and $5.1 billion in revenues.

Use Case: Learning & Development


Getting Started In Your Organization….


Components of an Effective Strategy

1. Build a Business Case2. Identify SMEs & Others to Champion & Get Buy-

in3. Develop a Strategy- Focus First on Key Pain

Points4. Identify Your Audience & Focus on Their Needs5. Develop Content & Programming Plans6. Select a Solution That Will Meet Your Needs7. Listen & Be Responsive8. Measure, Measure, Measure!


Key Strategy Considerations

Audience• Who is my initial launch audience?• What information do you want to

capture about them?• What do you want them to share and

how can they network with one another?

Change Management• Balance the content, configuration, and

workload with what you have to share• Recognition of user• Changes to business critical

applications & environment

Content• What content will provide value to

your users?• How will you drive programming for

that content?• What content expectations do you

have of your users?

Technology• What capabilities are included in the

initial launch? Future phases?• Branding decisions• Permissions• Workflow• Integration with key business apps

Measurement


Key Cultural Considerations

Gain Executive

buy-in

Implement reward

models to inspire

behavior change

Use community and social elements

seen as key to the

transition

Start with a initiative-

level project as proof-of-concept for

broader adoption

Identify roles &

responsibilities


Key Measurement Considerations

What will be measured? Who will consume the metrics? What is the workflow?

What value will metrics be given to impact decisions?

How often should metrics be updated? What is a metric's priority?

How will social activity measurement be funded?

What are the models for ROI, total value and KPIs?

Planning QuestionsDuring the planning process of a social learning initiative, seek answers to the following questions:


ROI Should Tie to Your Business Goals

The ROI Pyramid: All Roles, Metrics, and Data Types

Clearly Defined Business Objectives

Measurement aligned with strategy,

roles and target outcomes


Forrester., “The ROI Of Social Media Marketing”

4 Perspectives Of A Social Business Balanced Scorecard


Sample Social Business Goals & Objectives

1. Financial

• Has revenue or profit increased or costs decreased?

2. Digital

• Has your company enhanced its owned and earned digital assets?

3. Brand Satisfaction

• Have consumer attitudes about the brand improved?

4. Risk Management

• Is your organization better prepared to note and respond to attacks or problems that affect reputation?


Measurement Best Practices

Listen and calculate

engagement, influence,

sentiment and overall adoption

& retention.

Establish a continuous

improvement culture, along with an ROI

model.

Maintain a benchmark to

compare against future

snapshots.

Build dashboards with relevant social

metrics and learn the

procedures of test and

measure.

Publish updates that includes

metrics to inform others of

the presence and value of the

initiative, and recruit others to

participate.

Seek patterns among the

social business activity to build a metric model

repository

Add social dimensions into the employee

record or customer

relationship management data model


Figure 9: Match Your Spending Priorities to Your Social Business Maturity

Source: Altimeter Group

Social Business Maturity


Let’s Take a Practical Example


Getting Started: Business CaseTask

1. Clearly articulate your social business vision

2. Create a thorough business case & detailed business goals

3. Define your target audience

4. Define the culture that this approach creates across the organization

Example

Implement a solution to enable continuous collaborative sales effectiveness & knowledge sharing

• Improve productivity• Reduce sales cycles• Increase sales team retention

Globally dispersed sales force who sells various financial services products & solutions

• A collaborative sales organization that is more readily knowledgeable to educate prospects

• Has resources and SMEs accessible on-demand in the field

• Is generally more empowered to focus on their core competency of selling


Getting Started: Business CaseTask

4. Support your social business case with data and use cases (that align with your business goals)

5. Identify expected risks and mitigations

6. What technology solutions do you need to support your goals?

Example

• Increase sales readiness to deliver impacts from the field

• More knowledgeable, collaborate salespeople win 65% more business*

• Improved access to information can reduce costs by $3,300 per employee each year**

• Resistance to change (Champions needed)• Inappropriate UGC (monitoring & moderation)• Must provide proof of value (clear measurement)

• Solution that will grow with adoption over time• Social networking (connect with others in real time)• Content sharing capabilities (blogs, discussions, etc)• Collaboration capabilities (files, ideation, etc)

*Source: Forrester Research**Source: IDC


1. Build a Business Case2. Identify SMEs & Others to Champion & Get Buy-in3. Develop a Strategy- Focus First on Key Pain Points4. Identify Your Audience & Focus on Their Needs5. Develop Content & Programming Plans6. Select a Solution That Will Meet Your Needs7. Listen & Be Responsive8. Measure, Measure, Measure!

In Summary


Questions

© 2009 Forrester Research, Inc. Reproduction Prohibited

Thank you!

Alan F. [email protected]

Eve [email protected]

mailto:[email protected]

mailto:[email protected]

Creating Social Business Experiences

Technology

Transcript of Creating Social Business Experiences