Mar 16 2011

Social CRM – People, Process, Technology – What’s Your Opinion?

In the first quarter, ISM hosted a three-part webinar series – “Best Practices in Social CRM – People, Process and Technology.”  The turnout and stay-through rate was tremendous for each webinar, so we know we are onto effective learning.  The top three takeaways from the series include:

-People: (1) Legislate – have a well-stated social media policy, (2) Communicate – set clear expectations and goals for the community, and (3) Motivate – use your community to energize employees.

-Process: (1) Contemplate – ensure that your social media/social CRM plan is in place with excellence, (2) Navigate – map your strategy regarding how you intend to drive your customers to the optimal point-of-sale, and (3) Calibrate – utilize metrics from the outset and be ready to test all kinds of new ideas on the community to keep it vibrant.

-Technology: (1) Automate – monitor, listen, engage and respond, (2) Integrate customers view with your CRM application, and (3) Educate – use social media to learn all about your customers’ preferences.

As we look ahead, we want your opinion on the following ISM premises and questions:

  • Social communities need to be tightly tied to business metrics in order to be profitable ventures with meaningful ROI.  How are you measuring?
  • Social media/social CRM is as relevant for B2B as it is to B2C applications, yet the majority of applications focus on building B2C communities. What can be done to level this uneven playing field?
  • The most effective social media/social CRM efforts tightly integrate community feedback to customer profiles in CRM applications.  Yet, few companies have mastered this integration? Why?
  • Organizations need to own the social community (and thus the data). Yet, owning social community is the exception not the rule, today.  What is your organization doing to take ownership?

For those that missed any of the vibrant webinars, you can still view the series in its entirely on our website. We look forward to hearing from you as we move the needle forward in the area of best practices in Social CRM.

Tags: , , , , , Posted by - Barton Goldenberg @ 2:28 pm


Jan 18 2011

Lookback at 2010 – Peek at 2011

As we begin a new year, ISM remains cautiously optimistic about the state of the CRM marketplace for 2011.

The long-term prospects of the CRM marketplace continue to be bright as Gartner predicts that the CRM market will continue to have a positive growth rate, considering the slowing economy.  The CRM market is poised for a “healthy growth” rate through 2012 when CRM software revenue is forecasted to reach a whopping $13.3 billion.  There are several reasons for this market growth, according to Gartner Research Director Sharon Mertz.  CRM continued to grow through 2010 because it added value to the bottom line of organizations needing to do more with less. Three keys to CRM success in an economic downturn were setting up low-cost customer service, analyzing and optimizing marketing, and finding sales leads through social-networking platforms. This combination, experts agreed, is making CRM software an indispensable tool within organizations.

However with the worldwide economies still beginning to emerge from the Great Recession, 2011 will be a trying year for the CRM industry.  CRM vendors will be more challenged by their clients to provide clear and specific ROI about the business value their CRM solutions can provide for the company.  CRM professionals cannot afford failed CRM projects, particularly in down markets when business survival may be at stake.  In 2011, “risk-proofing” CRM projects will near the top of the priority list for CRM professionals.  CRM professionals will have to sharpen their negotiating skills to get more value from their vendor relationships in the coming year. During 2010, companies began looking for ways to cut costs on technology and became more customer-centric as the U.S. economy went into a recession, which made on-demand CRM applications and Social Media tools popular choices for those looking to invest in CRM.  Stay tuned for future blog posts as I will review the major trends that are having a huge influence on the CRM market in 2011.

Tags: , , Posted by - John Chan @ 7:34 pm