The ROI of Social CRM

The ROI of Social CRM

Maddie Grant, CAESocialFish

Some basic truths

• Social Media is not free.

• Return on Investment (ROI) is about money.

Social Media

Cost Benefit

Make more money

Reduce man hours

Reduce spending

Technology investment

Man hours

Improving Your ROI

• hours spent on social media work

• fees for social media tools

Streamline your social media work

• Advertising• Lead generation• Direct mail• hours for

customer service• hours for

managing member groups

Offset current expenses*

• Sell more• Upgrade more

Increase revenue

A lesson from Olivier Blanchard:

• Social Media AMPLIFIES.



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Another truth

We’re not very good at measuring business results for social media activity.

(Yet.)

Social CRM (Social Customer Relationship Management)

helps us get to the ROI of our social media activities.

What is Social CRM?

“A philosophy and a business strategy, supported by a technology platform, business rules, workflow, processes, and social characteristics, designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted and transparent business environment. It’s the company’s [programmatic] response to the customer’s ownership of the conversation.”

What is Social CRM?

Philosophy & business strategy

Technology platform

Stakeholder Engagement

Member Value

Processes & workflow

Trust & Transparency

White papers

04/18/2023 Originally posted in the SocialFish Think Tank. http://thinktank.socialfish.org

What is Social CRM?

Membership and

customer management

Social media

Social CRM

What is Social CRM?

Membership and

customer management

Social media

Social CRM

(& ROI)

• Beth Kanter’s view…http://www.slideshare.net/kanter/share-your-story-roi-social-media-nonprofits

Current state of Social CRM

• The data is hard to process• No buy-in, no SCRM.• Not working smart—

spraying and praying.• Spending too much in the

wrong areas.• Focusing on too many

small pieces but not the big picture.

What’s Possible Now?

> 90% Possible Now

So how do we get to ROI?

Start changing the conversation

Away from social media (Facebook, LinkedIn, Twitter)

To Social CRM (social data applied to membership management)

Identify ROI goals

Recruit Members

Retain Members

Serve Members Outreach

Retention example

A long time member contact is not responding to our renewal notices. Did he just disappear?

Research


Recruitment example

How do we connect with more than just the primary and secondary contacts in our member organizations?

Company Profiles


Outreach example

How do we know who’s influencing our members online? And how do we get influencers to help us?

Influence scoring


Recruitment example

How do we target to people with different roles and interests within a single company?

Research


Retention example

How do we find companies who are at-risk of dropping because they are not engaging with us or other members?

Warning signs

Engagement Scoring

Member service example

How do we respond quickly to customer service enquiries that begin online?

It’s not about the tools…

It’s about getting used to mapping

your social media data to your AMS data (regardless of what tools are being used.)

6 Social CRM technologies

AMS Social discovery

Member

Communities

Email

Social m

edia

monitorin

g SMMS

Marketing EnterpriseCMS

SSO

Platform

It’s about connecting your social media workflow

to your membership management workflow.

Basics of a Social CRM practice

Monitoring and responding

Social profile mapping

Outreach and lead generation

Community management

Myths about Social CRM

• That it’s something you buy.• That you need a new “SCRM Platform”

to get started.• That one department can own it. • That you can get to ROI without it.

Maddie Grant, [email protected]

www.socialfish.org

Thank You

mailto:[email protected]

http://www.socialfish.org/

The ROI of Social CRM

Business

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