CRM And Social Media -- A Few Guiding Thoughts
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A Few Thoughts on Social Media and CRM April 2009
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CRM is an established tool in the marketer's toolbox. How does the tsunami that is social media affect CRM best practices? Here are a few thoughts for both social media strategists and CRM practitioners to consider.
Transcript of CRM And Social Media -- A Few Guiding Thoughts
A Few Thoughts on Social Media and CRMApril 2009
© 2008 McKinney
typical customer’s view of crm noise
Source / Epsilon Consumer Email Study 2008, Center for the New American Dream
Direct mail tossed
withoutopening
44%
Marketing email
received, not viewed
80%
I value mktg email
I receive33%
370+ emails per week
Equivalent of 1.5 trees worth of
mail every year
Natural Outcome:
so, what’s a marketer
to do?
Perceived value of what the customer gets from
your brand
What the customer must give to you:
Personal infoTime
© 2008 McKinney
traditional crm paradigm
Your BrandYour brand speaks
to customers
© 2008 McKinney
new paradigm accelerated by social media
Your BrandIn turn, today customers can share with others very easily
© 2008 McKinney
new paradigm Now, which customer is the most valuable?
Your Brand
© 2008 McKinney
new paradigm Classic CRM view is based on LTV.
How does that change in the social world? $600
LTV
$300 LTV
$0LTV
Your Brand
Net take-away: evaluate
monetary valueand
social value
© 2008 McKinney
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