The Intriguing Realm of Social Media, Social Intelligence and Social CRM

How many of you have complained on a company’s social media platform, and got a response? If you haven’t used the social channel so far, you might be in for a pleasant surprise. Companies are getting increasingly friendly with social networks and using them day in and out to interact with their customers, and for customer relationship management. A few times when I've reached out on social networks, my issues were resolved in no time. Companies are laying a lot of impetus on their "social reputation"

 

The past decade has seen one major change in the field of corporate communications. It is no more company-centric but rather consumer-centric. The focus is on saying what and how, the consumer wants to hear. This new development means that marketers need to know their consumers, listen to them and understand them. The need to interact with consumers on their preferred channels at a time convenient to them has forced corporations to embrace social media networks. It is a huge cultural shift enabled by the collaborative philosophy of Web 2.0. 

 What is Social Intelligence?

Since social media is driving CRM, companies have to develop social intelligence to interact with the consumers to make a real impact. It is not just about meeting consumer expectations, but differentiating experiences, having the ability to rise above the noise out there. Over the years, traditional CRM has quietly evolved into social CRM because of an increasing use of social media in corporate communications. How does a company achieve social networking maturity and harness the tools of social CRM- is a common question many small businesses wonder about. The process is complex: from establishing a mere presence, to managing online communities and finally getting benefited via Social ROI.

•  By leveraging social customer insights gathered from numerous touch points in social interactions, a company can implement a sound social CRM strategy that will drive decision-making, maximize performance and surpass the competition.

•  By aggregating information from social platforms, mobile and external data, a clear picture of potential clients or people of interest can be attained, leading to smarter marketing. This valuable information can also complement internal operations. 

• By encouraging and facilitating meaningful social interactions, strong relationships can be established. Marketers must remember that Push marketing is not the ideal conversation for social media. Consumers have specific objectives when they interact with brand. It could be incentives, entertainment, problem-solving, knowledge, and so forth. Unless those objectives are met, these interactions will not lead to any results.

•  By aggregating data from multiple social media accounts (Facebook, Twitter, LinkedIn, Instagram etc) with mobile, and external data  like surveys, national stats etc, one can find a whole lot of information about any one person.    

  
It is indeed intriguing to know how much data is available out there that can precisely pin-point people of interest to a company that has access to the right tools and tactics to derive that data.With a 360° view of a single customer, social CRM attains a new height allowing marketers to position their products much more effectively and participate in the customer’s decision making process.  

The changing world of marketing with Mobiles

According to eMarketer, mobile now accounts for 23% of the time spent with digital media. That’s up from just 4% four years ago. By 2016 45% of the world population would have owned a smartphone.

 2013 was an important year for content marketers. They’ve recognized the newly-founded popularity of mobiles in the digital world when they were asked to start designing content for mobiles and using marketing tactics that catered to mobile users. It is true. Most of us are only parted from our mobiles for the time we sleep, or a few hours we can’t technically use a mobile. Whenever we can, we do tend to be with our mobile – be it in public transit, during lunch breaks, while gobbling down that burger, on treadmill, in grocery store or driving, and what for - using whatsapp, FB, Twitter, clicking pictures on Instagram, listening to music, watching a film, the uses are endless! 

However a study indicates that 60% of the time spent on mobiles accounts for games and social media with Facebook accounting for the biggest chunk of time and attention. People are sending millions of text messages using apps like Whatsapp across the world rather than using telecom-operated text messaging. Smartphones are making it easier for people to communicate be it using an app or facebook, Twitter, Snapchat, Instagram, to name a few. 

If users are spending all that time on their mobile, do they really read what they see? Yes, but the attention span has reduced greatly. Users love new information but in bite-sizes. Info-snacking is the new trend, or unless it is collaborative information.

Another important fact to be taken into consideration is that with all these social platforms and increasing usage, people are no more anonymous as they used to be a few years ago. There is so much personal information available on a multitude of these platforms that connecting the dots is not an issue any more.

What's in for Content Marketing?

This extraordinary social usage presents an excellent opportunity for content marketers to reach out to consumers in new ways, and to get to know their consumers much better than before. So, what are the points to be considered when including mobiles and social media to manage your consumer relationships?

• Content is what creates brand. Content is what is mostly being searched on Google. Consumers are always looking for content, and if your site or social platform has useful and original content, it will drive traffic.

•  Content must be driven by context, or else it will be of no use

• Content marketing for mobiles is not the same as content marketing for websites. The design element is very important. Mobile-friendly sites are a top priority. Every page on a corporate website must be optimized for mobile users.

• Social platforms are mostly accessed on mobiles which means that less content meets the eye than before. Marketers must create shorter content, but increased frequencies of messaging from different platforms/ channels.

• Home page is losing relevance. Social feeds will bring your consumer directly to the post/linked page. Home page is skipped unless someone is accessing the website directly. This means, each page needs to have the pertinent information to make the visitor stay longer.

Do not underestimate the important of content and the way mobiles are taking over the consumers` lives. With social media now primarily being accessed on mobile, it becomes all the more important to drive brand-related conversations that can get consumer attention. This is possible through extraordinary and relevant content; content that makes the brand a leader in the marketplace!

Sysomos: Harnessing the Power of Social Intelligence

Here’s a database that brags of more than 50 billion social media conversations already stored, and two billion being added every week from all across the globe in multiple languages. Sysomos, founded by two computer scientists (a University of Toronto alumni along with his teacher) as part of their Ph.D project, is one of the leading social media monitoring and engagement tools used extensively by leading Fortune 500 companies such as Microsoft, Google, Coca Cola, Bell, UPS, Toyota, the list goes on. 

Let’s take a moment to understand the role of social media and social networking sites in the realm of consumer relationship marketing. Social CRM is about obtaining intelligence from social conversations, which can then be utilized in marketing plans: to understand the marketing, identify opportunities and create successful strategies. These social conversations woven around products, services or brand are often dubbed as “word of mouth” or WOM. When a consumer shares their experience of a particular product or service on the internet, they add to  the "market influence" about accepting or rejecting that brand. This influence is further passed on to others who might add more or pass it as it is. Four variables have been recognized in the marketing and consumer behaviour research regarding their role in WOM behaviours: tie strength, homophily, trust and interpersonal influence.

Social networking sites have enabled consumers to connect with others by exchanging information, opinions, and thoughts about products and brands. This is the “eWOM”. Hennig-Thurau et al. (2004) defined eWOM as “any positive or negative statement made by potential, actual, or former customers about a product or company, which is made available to a multitude of people and institutions via the Internet”. eWom occurs through consumer-to-consumer conversations via blogs, emails, consumer review, websites, forums, and virtual consumer communities or on social networking sites. eWOM has been proven to have a significant influence on product sales, consumers’ decision-making processes, and attitude towards the brand and the website. 

What happens on a typical social networking site in a business-to-consumer relationship? Consumers become friend, fan, like or follow the brand. In a consumer-to-consumer conversation, brand-related eWOM takes place via the following channels: opinion seeking (ex: asking questions), opinion giving (ex: FB status and tweets) and opinion passing (ex: shares and retweets). 

Web 2.0 has provided us the ideological and technical foundation in the form of social media to build and strengthen business relationships. While collaborative, creative work-sharing, micro-blogging and social networking sites allow us the luxury to build B2C or C2C relationships, social CRM tools help us to monitor, measure and build further on these relationships. Before we delve further into what Sysomos does, I’d like to share a quote from Sysmos’ senior vice-president of Marketing about the confluence of social with business: 

“It’s (social is) a behavior and a method of doing business that demands open communication and community focus regardless of the technology involved. The tools are just enablers of that philosophy, exposing the ability to be more communicative and customer-centric through tech.”

With the latest news about Twitter planning to add a BUY button to enable instant shopping, we can only imagine how “social” our business is getting, and the value of engaging consumers and managing relationships with them. Social CRM recognizes that instead of just managing customers, the role of the business is to facilitate collaborative social experiences and dialogues that consumers value. With billions of conversation happening every day around the world, we need to know “what, when, why, who and where” of these conversations. This is where social media listening, measuring and engagement tool Sysomos comes into picture. 

What is Sysomos?

Through the use of contextual text analytics and sophisticated data-mining technology, the Sysomos social intelligence engine collects data from blogs, social networks, message boards, wikis and major news sources. Sysomos, then, integrates all of that data into one, intuitive user interface that allows clients to get the intelligence needed to learn, monitor and engage with their audience. The Sysomos core offerings are:

                       MAP or  Media Analysis Platform that analyzes and understands social media conversations

                      Heartbeat, a real-time monitoring and measurement solution that provides constantly updated snapshots of social media conversations

How does Sysomos work?

Social media is an indisputable and indispensable source of business intelligence. Say, a Marketing Manager wanted to know how their company’s product is performing by monitoring social conversations about the product, she engages Sysomos to access a rich and almost overwhelming database updated every few minutes, to produce an instant report analyzing the metadata on social platforms like Facebook, Twitter, and so forth about the social context and tone of the conversations and who is driving those conversations. Sysomos’ Automated Sentiment Analysis engine can drill down into conversations, categorize drivers of positive and negative sentiments, and generate a report within seconds. This is a very valuable data that the manager can use to plan their marketing campaign, engage with unhappy consumers, or generate leads for their sales force.

What makes Sysomos top of the line tool for Consumer Relationship Marketing?

1.   Sysomos offers social intelligence to enable marketers/key decision-makers to make smart decisions.
2.   Sysomos can monitor fans/followers and provide intelligence such as “Best Time to Tweet”

                     

                                            Best Time to Tweet: Peak-Tweet Times

        

                                   

            An Individual's Twitter Followers                                    Coca Cola’s Twitter Followers

    3. The fact that Sysomos allows you to search in 186 languages, adds to its global appeal.

Courtesy: http://social-media-monitoring-review.toptenreviews.com/sysomos-details.html

4.  Sysomos has a relatively higher sentiment accuracy of 86% compared to other industry tools.

Courtesy: http://social-media-monitoring-review.toptenreviews.com/sysomos-details.html

In today's world with cutting-throat competition, a social monitoring and engagement management tool such as Sysomos can be a valuable marketing measurement tool for Consumer Relationship Marketing.

How does Sysomos help build relationships?

To achieve the full benefits of Social CRM, a CRM Tool should also support the relationship-building aspect of a business unit. Below are some ways Sysomos can help an organization.

a)      Know Your Consumers: Social profiles provide rich demographic and psychographic information on your current customers, that can help marketing departments understand trends and plan their campaigns.

b)     Identify Key Influencers. Once you know who can drive valuable conversations and act as opinion leaders, you can monitor their conversations and set up alerts on specific activities. Ex: congratulate them when they get quoted, or promoted.

c)    Deliver Fast, Responsive Customer Service: Set up alerts using tag words to spot issues even before a support ticket comes in. By jumping into such conversations, you will demonstrate that you care about them.

d)    Identify Trolls: By identifying trolls who post negative comments and add fuel to the fire, you can take actions to stop the menace and further damage to relationships.

e)    Use the Right Communication Style: By listening to your consumers, you can learn about their communication parameters, and plan a relationship-building communication style that will appeal to your audience.

To conclude, Sysomos is being increasingly recognized as a dynamic tool in the Social CRM industry. It partnered with Marketwired some time ago to provide leading edge social media measurement. Sysomos-powered solutions allow their clients to tap into information in 186 countries and 189 languages. With the help of Sysomos Social Intelligence Engine, a catalyst for innovation and value creation, clients have discovered new ways to achieve their business objectives.