Presented By: Piyush Ojha 12bsp1927 Sec. B

Social Media In CRM can be a blessing or curse depending on the customer experience. Enhanced customer experience results in a stronger and deeper relationship with customers and, thus, increases loyalty and trust which are crucial for business success.

Over a last decade the Internet has contributed a lot in changing our life – both from a business as well as social perspective. Currently the industry expert’s calls Web 2.0 as an extreme set of innovative tools that is far beyond internet surfing and website publishing.

Social media’s 4C’sSocial media’s 4C’s

Web is enabling:CollaborationCommunity creationConversationCreativity

Image source:http://web2.socialcomputingmagazine.com/all_we_got_was_web_10_when_tim_bernerslee_actually_gave_us_w.htm

Source: Fabio Cipriani (2008)

Web provoked an expansion of the R in the CRM acronym

Company Social Networking:

Company / CustomerCompany / PartnerCompany / CompetitorCompany / Company

Customer Social Networking:

Customer / PartnerCustomer / CompetitorCustomer / CustomerPartner / Competitor

Source: Fabio Cipriani (2008)

• Single view of the customer based on the interactions history, customer profile data residing in the company’s base and data integration with internal systems

• Company owns the data but it is limited to previous interactions

• Phone

•Fax•Email•Service•Letters•Personal contact•Company’s website

•SMS•Instant Messenger

•Chat•Media

• Phone• Fax• Email• Service• Letters• Personal contact• Company’s website• SMS• Instant Messenger• Chat• Media

• Blogs

+

•Single view of the customer is far more complex to achieve. Besides internal information, the company must rely on external information such as customer profiles in social networks and his behavior when participating in a community.

•Customer and other web 2.0 sites own part of the precious data

• Social Bookmarking

• Microblogs

• RSS• Wikis

• Social Networks

• Widgets

• Podcast

• Video sharing

• Forums

• Wish lists

• Price comparison website

• Reviews and ratings in retail sites

• Photo sharing

• Slides sharing

• Auction website

Source: Fabio Cipriani (2008)

Real-time feedback Co-creation with consumers Innovation Free marketing and sales teams Improved visibility over search

engines Access to customers demographic

and data

Improved businesses design Improved relationships with the

customers Cost effective communication Positive Word of Mouth (WOM) Market influence and leadership Customer engagement

Not joining Social Media is the biggest threat

Lack of control over conversations Fear of negative WOM Difficult to measure ROI Can be time-consuming Privacy and security issues No push marketing