People spend hours and hours on social media conversations every week. What do they do exactly?
Not even 10% of the people actually participate in these conversations, among those, only 1% create content. All others are simply scanning the content and that’s where the time goes. If someone is spending an hour on social media every day, almost 50 minutes would go in simple reading, understanding what others are saying.
If that is the case for an individual, imagine how organizations trying to comb through millions of conversations to get insights would feel like. The noise ratio is so high, it will be near impossible to get the signal right.
At the same time, you can’t ignore this channel. It is literally a goldmine for organizations. People talk about products, competitors, comparisons, their expectations, price, savings, coupons, issues with products, reviews of products, reviews of experiences and so on. If these are leveraged, it is possible to design the ultimate customer experience, purely by listening to people.
This is where products such as Oracle SRM are adding huge value. They help organizations analyze conversations and extract usable information. For example, if a brand is launching a new product, they can do the market analysis by listening to social media conversations. They can find out the feature expectations, price expectations and other details by listening. SRM helps organizations reduce noise so that organizations can get to the details quickly.
As a next step, this social data has to be combined with enterprise data. For example, we know a customer is upset about one of our products. But who is he and which product he purchased, when they purchased, did they log a problem? If yes, what are we doing about it? If no, can we contact him to understand how we can help? These information will be available only when the social data is mapped to the exact account or contact information in CRM.
It will be practically impossible to do this mapping manually. There are integration solutions that map social profiles to CRM entries and this helps us understand what is in the customers’ mind, a sneak preview of their thoughts before we make the next step.
CRMIT is currently in the process of working with our customers to understand their social footprint, monitoring patterns, mapping them to internal business data. We are using Big data solutions for analyzing this feed so that it can be presented to business users as social intelligence, helping them design an optimal customer experience with clarity on expectations.
About CRMIT Solutions:
CRMIT Solutions is committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.
Sr. Director – Innovations