MavenSocial has a rich social media platform. Below, we explain an area of our expertise –
Analytics for Influencers: Measure Growth for Earned Media.
Throughout the document we discuss how MavenSocial can identify your brand’s social media influencers, while increasing engagement, increasing your company’s earned media, social ROI, as well as the importance of social CRM for your company. It’s about driving real results for your company, while providing deep insights into who your customers are, and which ones actually influence brand perception! Read more
Social media is about creating, maintaining and re-vamping relationships. Many people use social media for maintaining relationships with friends, family, and co-workers. But for brands, the most important relationship is with the customer.
This is where Social CRM comes into play. A relationship cannot exist without two-way communication. Successful brands communicate effectively with their customers while allowing and encouraging customers to communicate back to them.
Oxford University Press defines gamification as the “application of concepts and techniques from games to other areas of activity.” An example of this is offering reward points for credit card purchases. This type of point system encourages people to interact with a product or brand in exchange for rewards. Many companies do not yet realize the importance of this type of Social CRM. Anything that will give someone some type of reward will bring in more opt-ins. Why? Read more
Okay, so you’ve finally got that stubborn consumer or competitor’s loyal customer to jump over to your side and they’ve finally made the purchase! You’ve officially caught the eye of your intended consumer so obviously the hard part is done, right?
Unfortunately, what marketers often appear to overlook is the fact that while you may have captured the interest of your target group, you need to hold that attention, which is much easier said than done. What every business wants is a person who comes back again and again and goes from a one-time buyer to a loyal customer. Without a doubt, the easiest way to do this with positive ROI every time is through intelligent marketing through social media.
The goal of keeping a customer interested is best achieved through creating quality, interesting content that provides incentives for repeat purchases. This can be done through Facebook, Twitter, blogs or any way that your customers can keep updated with all of the latest news from your company. It’s important the content you post to these sites provide not only quality information, but that this info is up to date and fresh to make the customer want to be informed.
Such things can be done through several ways:
1) Make the customer feel special. Offer coupons or discounts that only followers of your social media account can use. If you make them feel like they’re part of an exclusive club, you make them feel like they personally matter to your company.
2) Use your channel to provide customer service so that consumers have to go through your site to find the answers to any questions they may have. Not only will that up your traffic, but also the chances of their eye being caught on a passing deal or incentive they wouldn’t have otherwise seen creates an opportunity for them to stay interested.
3) Instead of starting a marketing campaign for a new product on the general public, focus first on the customers you’ve already reached. Who better to want to buy your next product than the very people who have previously had a connection to your brand and were happy with their previous purchase! The more product a person buys from you, the greater their loyalty becomes and the more they’ll come running back for more.
MavenSocial employs these tenants in our social media campaigns, and in building social CRM’s for our clients (read more about Social CRM’s here). When building a loyalty program, we ensure that the loyalty customers feel and understand that they are an integral part of the company’s pulse, while encouraging them to share other offers with their friends. There is nothing like the personalized touch of a friend-to-friend brand share. Loyalty members become the company’s brand advocates, and continue to do so because we first treat them so well (and continue to).
It’s all about attracting, and holding your loyalty member’s attention. If you can achieve that, you’ve found the secret sauce, and here at MavenSocial, we believe we have,
And with that,
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,