ideasfromlisa

While continuing my search for knowledge on the subject of social CRM (sCRM), I was able to attend a seminar this week in Atlanta on "Social CRM Strategies for Business" put on by BPT Partners.  During this seminar, I had the pleasure of meeting one of the presenters, Paul Greenberg, whom is one of CRM's most influential authors and speakers on social CRM.   After hearing his definition and strategies behind sCRM, it gave me great insight into the industry and a better understanding of sCRM and the role it plays.  As a result of this new knowledge I've obtained, I am obligated to update my last post on sCRM and my definition as I now see it.

My 1st attempt on the sCRM definition only spoke of a CRM software and integrating socialytics. I did not differentiate between socialytics and the aggregator tool, which was a mistake due to my ignorance on the understanding of the product - as well as my lofty idea of a GRAND sCRM tool.  There are 2 main components to a sCRM product (CRM software and an aggregator), however, socialytics being the 3rd component takes sCRM to a whole new level of customer relationship management, and incorporates behavioral intelligence to better understand your customer and profile and interactive data to potentially identify new customers.  These of course are only examples of the most simplified socialytics intelligence data uses, as there can be many more.

2nd attempt on a sCRM definition:

social CRM (sCRM)

integration of a social media aggregator into a traditional and evolving CRM software product and at its most efficient use, incorporates and utilizes socialytics to create an optimized social media campaign

3 main components of an all-inclusive social CRM product:

1.) CRM software : based on traditional and evolving processes due to the new social components

2.) a social media aggregator : monitoring of identified users on social networks and interactive communication tools between CRM users and social media users

3.) socialytics : utilizing social media user intelligence (social analytics) such as user profile, behavioral and interactive data

When I started my research on sCRM products, I just assumed (bahahaha) that all major CRM software companies out there would be developing their own addition of a social CRM tool to work with their current CRM software.  BUT apparently that was an ignorant assumption.   After further research and attending the seminar this week, it appears that there are a handful of software companies that have created their own version of an aggregator tool that will work with certain CRM software products in order to create a "social CRM" software marriage.  The socialytics component that I speak of appears to still be in the beginnings of creation and I have yet to come across such inclusive tool that works with a sCRM product, even though I see many social analytics products on the market.  I'm sure a good socialytics tool for social CRM is just around the corner.

I would also like to include here Paul's definition on sCRM, as it, as well as his industry knowledge has led me to my better understanding of this new tool.  Note:  my definition is a more simplified translation of the basic components of sCRM and Paul's version is a more descriptive methodology based on the basic CRM processes.

Social CRM, by Paul Greenberg:

"Social CRM is a philosophy & a business strategy, supported by a technology platform, business rules, workflow, processes & social characteristics, designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted & transparent business environment.  It's the company's response to the customer's ownership of the conversation."

Although, as of today, I have yet to read Paul's book on social CRM,  "CRM at the Speed of Light", I do have it on order and have heard great things about it so I would like to mention it here as a resource on social CRM for all that are interested in the subject.  "This Fourth Edition was released in Q4 2009 and entirely focused on the evolving dynamics of the social customer and what companies need to know about social CRM" : BPT Partners.

Insightful social CRM strategies at SCRMSummit seminar http://bit.ly/88NTXr by bpt partners. Thanks @pgreenbe Great meeting everyone!

While blogging about socialytics as the Holy Grail to social media this week, I made reference to the modest beginnings of what is known to be called "social customer relationship management" or "social CRM" (sCRM).  

As I explained in that blog, I have spent the last 3 months researching any and everything connected to social media for my new social media consulting business that I plan to launch in June of this year.  With my professional experience in marketing, sales & advertising for the last 10 years, picking up on social media at the concept level was very easy.  If it weren't for my love of technology and my innate Aries quality to want to understand all the intricacies of anything I am involved in, my business plan for social media consulting would have been kicked out the door after my first week of research due to the depth of information and technical aptitude needed on the 8 areas I was investigating.  My extent of social media status prior to 2010, was solely my existence on Facebook but only since October of 2008. Admittedly, I have had Skype and LinkedIn for probably a year or two longer, but really rarely used them.

If I were just going to train businesses on social media networking alone, that would be no problem and my business would have been underway a month ago.  But my business model went beyond social media networking and integrated its socialytics and social technology into business operations.  In this scenario, social media networking would be equivalent to a bicycle and my socialytics business model would be equivalent to an airplane that can hover. I'm not kidding.  

My 8 areas of research:

1. all types of social media interactive sites & tools
2. mobile marketing technology
3. CRM software
4. integrated applications
5. search engine optimization (SEO)
6. open source content management systems (CMS)
7. basic HTML code
8. social analytics (socialytics)

As for what I can see on the market, as well as some colleagues alike, we have only begun to enter the realm of socialytics.  Don't misunderstand, there are many software programs out that analyze online data. However, there are very few companies that have even introduced software that only begin to scratch the surface of analyzing social media user data on a customer interaction and behavioral level.  Note, I say "scratch the surface."  Yes, there are CRM companies that advertise a social CRM solution, but their social tools do not access a true representation of the socialytics that are possible and much needed to really harness a social media campaign based on even the top 10 interactive social sites.  There are thousands of social sites out there with data waiting to be had.  That's a lot of neglected user data. Now, you see why I refer to socialytics as the Holy Grail of social media; all that power of information that we just haven't accessed yet.

I have researched several of these social CRM's and each one has their own unique aggregate feature, however even though they may have some synchronizing tools to some of the primary networking sites, the trick is finding a good social CRM that can access all three main components:

• profile date
• behavioral data  
• interactive data  

You can't sell a social CRM based on traditional web analytics because socialytics provides a totally different data type. A combination of the 2 is needed. For instance:

basic web analytics = seeing the number of unique visits to your website  vs. socialytics = following your current customer's eating & shopping trends thru review sites and being able to recommend products based on their likes and dislikes

I do see some of these social CRM's that provide the beginnings of a customer interactive data format, like syncing with Twitter to provide customer service.  But honestly, I'm not that impressed with this feature alone.  That is just an aggregator incorporated into their system and independent aggregators have been around for a while now.  Yes, obviously a social CRM needs that customer interactive tool, but my point is that they need to step up their game.  I will be excited the day a social CRM software is released that retrieves comprehensive behavioral data for their existing and potential customers for at least the top 10 social media interactive sites. I have a feeling we may be 12 months or more away from that reality.

So, here is my novice take on a basic definition of "social CRM":

social customer relationship management (sCRM)

1.) integration of socialytics (social analytics) into customer relationship management software

2.) CRM software that incorporates socialytics aggregators for users to optimize their existing and potential customer relationships on a social media platform

Such optimizing can include: establishing new communication vehicles with existing & potential customers; creating customer loyalty; better understanding customers to improve service interaction and product development; brand recognition; advertising opportunities; increased sales; creation of online demographics; and increased search engine optimization.

Please see my updated definition on social CRM here.

To industry gurus: Please note that I have only been submerged into social media over the last 3 months so although I feel my knowledge is sufficient for my consulting business, by no means will I assert any expertise in the industry as I give much kudos to all you gurus whom have been on the social media wagon since its conception a decade ago. I welcome any corrections or additions to my humble definition beginnings as well as recommending any CRM companies that you know of that you feel are on the forefront of social CRM.

And of course, I will reserve the right to change or update my standing on sCRM as my research into the industry continues and I learn of new resources.

The key is creating the arduous software to capture the relevant data in the astronomic web of infinite user data out there,... then making it all pretty and user friendly for the everyday salesman to utilize. It's all about the color graphs!  :)

Social CRM has a long way to go, but I am seeing some great starts! Xeesm/Edge!™ (sCRM) – XeeSM http://bit.ly/dwcKGN xeesm

URGENT: Tell the Senate to find out where our bailout money went. The vote is tomorrow! http://bit.ly/c13cL4 @BoldProgressive p2

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For the last 2 months I have been brainstorming on how to take my skills, knowledge and passions and create a new path for me.  Creativity and entrepreneurism runs thru my blood so I know I can make SOMETHING work.

First brain waive:
1.)  I love marketing and the challenge to make anything better.

2.)  I love the core structure of how a/any business operates.

3.)  I’m really intrigued by this whole social media and the impact it has had and more so how it will revolutionize business going forward.   True fact.

marketing/social media + business operations = Lisa’s great idea

Now, how do I materialize Lisa’s proclaimed “great business idea” that has been bouncing around my head in a MILLION pieces.  The concept is easy for me to verbalize: “merge social technology with business operations.”  Which may mean little to nothing to the average Joe, but “the concept” can be easily understood once I give a few examples.  But until now, all I’ve had are a bunch of examples.

Say it’s the early 1800’s and we have trains, but I have this great idea of transporting people on a smaller, more versatile piece of machinery. What a great concept! But the hard part is taking that concept and actually building a gas powered engine, steering, wheels and all the other integral parts that make it into a functioning vehicle.

Obviously, my “great business idea” will never revolutionize society, as did the invention of the automobile, HOWEVER, without totally diminishing the brilliance of this new business model, I believe that it will in fact revolutionize (to some extent) general business operations as we evolve in today’s social marketing environment.

I’m a firm believer in the saying, “No need to reinvent the wheel.”  Just like Henry Ford didn’t invent the first car, he just took all the other inventions and ideas and created his own piece of history.