The ROI of Social CRM

1. The ROI of Social CRM The ROIof Social CRM Maddie Grant, CAE SocialFish

2. Some basic truths• Social Media is not free.• Return on Investment (ROI) is about money. Some basic truths• Social Media is not free.• Return on Investment (ROI) is about money.

3. Social MediaCost Benefit

4. Improving Your ROI Offset current expenses* hours spent on • Advertising social media work • Sell more • Lead generation fees for social • Upgrade more media tools • Direct mail  hours for customer service  hours for managing Streamline your member groups social media work Increase revenue Improving Your ROI Offset current expenses* hours spent on • Advertising social media work • Sell more • Lead generation fees for social • Upgrade more media tools • Direct mail  hours for customer service  hours for managing Streamline your member groups social media work Increase revenue

5. • Social Media AMPLIFIES. A lesson from Olivier Blanchard: • Social Media AMPLIFIES. A lesson from Olivier Blanchard:

6. • Social Media AMPLIFIES. A lesson from Olivier Blanchard: F FREQUENCY • Social Media AMPLIFIES. A lesson from Olivier Blanchard: F FREQUENCY

7. • Social Media AMPLIFIES. A lesson from Olivier Blanchard: F FREQUENCY R REACH • Social Media AMPLIFIES. A lesson from Olivier Blanchard: F FREQUENCY R REACH

8. • Social Media AMPLIFIES. A lesson from Olivier Blanchard: F FREQUENCY R REACH Y YIELD • Social Media AMPLIFIES. A lesson from Olivier Blanchard: F FREQUENCY R REACH Y YIELD

9. Another truthWe’re not very good at measuring businessresults for social media activity. (Yet.) Another truthWe’re not very good at measuring businessresults for social media activity. (Yet.)

10. . Social CRM (Social Customer Relationship Management)helps us get to the ROI of our social media activities.

11. . What is Social CRM?

12. . “A philosophy and a businessstrategy, supported by a technologyplatform, businessrules, workflow, processes, and socialcharacteristics, designed to engage thecustomer in a collaborative conversation inorder to provide mutually beneficial value in atrusted and transparent business environment.It’s the company’s [programmatic] response tothe customer’s ownership of the conversation.”

13. . What is Social CRM?Philosophy & business strategy Processes Technology platform & workflowStakeholder Member Trust &Engagement Value Transparency

14. . What is Social CRM?Philosophy & business strategy Processes Technology platform & workflowStakeholder Member Trust &Engagement Value Transparency

15. . White papers Originally posted in the SocialFish Think11/7/2012 Tank. http://thinktank.socialfish.org

16. . What is Social CRM?Membership and customermanagement Social CRMSocial media

17. . What is Social CRM?Membership and customermanagement Social CRM (& ROI)Social media

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

19. . Current state of Social CRM• The data is hard to process What’s Possible Now?• No buy-in, no SCRM.• Not working smart— spraying and praying.• Spending too much in the wrong areas. > 90%• Focusing on too many small Possible Now pieces but not the big picture.

20. . So how do we get to ROI?

21. . Start changing the conversation Away from social media (Facebook, LinkedIn, Twitter)To Social CRM (social data applied to membership management)

22. . Identify ROI goals Recruit Retain Serve OutreachMembers Members Members

23. . Retention exampleA long time member contactis not responding to ourrenewal notices. Did he justdisappear?

24. . Research Originally posted in the SocialFish Think11/7/2012 Tank. http://thinktank.socialfish.org

25. . Recruitment exampleHow do we connect withmore than just the primaryand secondary contacts in ourmember organizations?

26. . Company Profiles Originally posted in the SocialFish Think11/7/2012 Tank. http://thinktank.socialfish.org

27. . Outreach exampleHow do we know who’sinfluencing our membersonline? And how do we getinfluencers to help us?

28. . Influence scoring Originally posted in the SocialFish Think11/7/2012 Tank. http://thinktank.socialfish.org

29. . Recruitment exampleHow do we target to peoplewith different roles andinterests within a singlecompany?

30. . Research Originally posted in the SocialFish Think11/7/2012 Tank. http://thinktank.socialfish.org

31. . Retention exampleHow do we find companieswho are at-risk of droppingbecause they are notengaging with us or othermembers?

32. . Warning signs

33. . Engagement Scoring

34. . Member service exampleHow do we respond quicklyto customer serviceenquiries that begin online?

35. . Originally posted in the SocialFish Think11/7/2012 Tank. http://thinktank.socialfish.org

36. . It’s not about the tools…

37. . It’s about getting used to mapping your social media data to your AMS data (regardlessof what tools are being used.)

38. . 6 Social CRM technologies AMS Email

39. . It’s about connectingyour social media workflow to your membership management workflow.

40. . Basics of a Social CRM practice Monitoring and Social profile responding mapping Outreach and Community lead generation management

41. . 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.

42. . 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.

43. . Thank YouMaddie Grant, CAEmaddie@socialfish.org www.socialfish.org