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Posts tagged ‘relationship’

29
May

The Best Social Media Application For You


You might think that in order to reach your marketing goals you should be using every single social media application to your advantage. This is not necessarily what you should be doing. Choosing a social media outlet should take a large amount of consideration. You need to choose your application based on what you want to do. If you go full steam ahead and spend all of your time marketing on various different social media sites, you could waste a lot of time and money.
21
May

The Power of Social CRM & Why You Need it Now!

If you don’t call your grandma on her birthday, you won’t be getting any Christmas presents. If you haven’t talked to your friends in 5 years, they won’t come to your party. If your girlfriend likes mojitos and you give her a long island iced tea, she won’t be very impressed. Maintain your relationships! Understand your customer’s needs! Customer Relationship Management, also known as CRM, is the management of a company’s interactions with potential clients and customers. The purpose of efficiently managing the company’s interactions is to capture and keep new client relationships, retain current relationships, bring back former clients and reduce costs.
This not only benefits the company but the client as well. The clients will start to get products and services more tailored to their needs. You can be linked to customers, but if you don’t maintain those relationships, and you don’t fully understand their wants and needs, then those customers will be lost to you. If you know what a certain customer likes and dislikes, you can offer them products and services very specific to their lifestyle.

These are the many benefits to CRM:
* better quality and efficiency
* a decrease in overall costs
* decision support
* enterprise ability
* customer attentions
* increase profitability
* improved planning
* improved product development

Another aspect of a Social CRM is Customer Service Analysis, also known as CSA, is the gathering of customer data and their relationship with the company. The purpose is to improve sales, better the service and/or lower costs. There are many different aspects of CSA depending on what you are looking for.

Complemented by CSA, Customer segmentation grouping is dividing customers into those most and least likely to repurchase a product. A profitability analysis finds out which customers bring in the most profit over a certain amount of time. Personalization is marketing to customers based on the individual data collected about them. Event Monitoring is knowing what dollar amount the customer has reached with his or her purchases. What-If scenarios are how likely a customer that bought one product will purchase one similiar to it. Predictive modelling is choosing the right product plan based on what we already know about the customers.

While these information and database collection tools are commonplace in many marketing firms, what is different about Social CRM is that it is online and utilizes social media.

Offline CRM tools are applicable in an online forum, such as online questionnaires and contests, and social media sites such as Facebook or Twitter. Social media forums are are great way to collect demographic information. One can determine whether a person is male or female, their age group, interests, lifestyle, whether or not they have kids…the list goes on and on. These things hugely impact the decisions a company makes.

If there are a lot of coffee drinkers in Waterloo let’s put a Tim Hortons in that area. If there are a huge amount of males in Brampton, let’s decide not to put in several shoe stores targeted to women. An elderly couple with no kids would not get any use out of the backyard playsets you are trying to market, so don’t waste your time and money trying to contact them.

So the point I’m trying to make is… call your grandma on her birthday and you will get Christmas presents. Just kidding (kinda).

Make sure you maintain a good customer relationship through Social CRM. That way you can have better and more productive customer relations in regards to sales and service. You will also be able to keep a lower inventory and a faster delivery which lowers cost and allows for more competitive pricing.

Until next time,
Amanda