Blog series “March to Madrid”: Let’s get down to business – exposing the value of Social Media activities and data
Blog 1: The Social Voice – How fine-tuned is your radar?
“If you’re happy, spread the word. If you’re dissatisfied, please let us know.”
This phrase and related approaches to managing customer relationships have always played a key role in business. In fact, it’s probably more crucial than ever to be customer-centric and to implement the right mindset and tools within your organization in order to succeed in today’s multi-channel world, in which consumers have learned to tune out the constant bombardment of advertising, while having access to more feedback channels than ever before in our history.
Not surprisingly, customers now increasingly prefer the judgment of other consumers. It is the Internet that has become the ideal place for people to turn to when they want access to the praises or criticisms of other customers that will likely play a large part in their decision.
Most businesses are aware of this growing trend – especially in B2C of course – and many companies are looking at what customers are saying about them on major review sites. After all, these reviews, positive or negative, are likely the first thing people look for when making a purchase decision and are in turn valuable elements for companies turning potential customers into real customers. Thanks to the rise of online reviews and Social Networks, implementing Social CRM strategies become increasingly important these days – if not even elementary.
In fact, some businesses are spending a lot of energy on tracking reviews, but due to the storm of related consumer websites and social networks most companies are struggling to keep track and filter the truly important reviews.
SAP offers holistic solutions for companies that are getting serious about Social Media.
Please check out our overview video here.
On the one hand, SAP Social Media Analytics by NetBase allows companies to listen carefully to what the social web is saying, while improving their social media P&L. With the help of this Social Monitoring & Analytics tool you can track general as well as campaign or product-specific sentiment across different market segments. You can also do advanced analytics on your influencers or competitors for example. The NLP (natural language processing) capabilities are a strong technology foundation, increasing the accuracy for advanced drill-drowns.
In addition to monitoring, SAP Social Customer Engagement OnDemand (click link to see video) will help companies to better manage incoming feedback and service requests from their “social channels” by routing Facebook comments or tweets to the right experts within your organization. With the help of CRM ticketing capabilities as well as embedded Analytics your company can now deploy a modern Social Media cockpit, which will help your company entering the next level from Social Media experimenting to excellence.
Finally, SAP equips your company with advanced means to drive Social Collaboration forward within your organization, connecting individuals, teams, divisions, and internal as well as external stakeholders. This social layer – which gives you context (e.g., who is it that you are working with) – is the foundation of collaborating efficiently today.
There is no reason why all businesses shouldn’t engage in doing so, as the benefits far outweigh the risks. After all, if a company can promote successfully offline, they will be able to do so online as well. If interested, please contact us directly or please engage with our co-innovation program today and benefit from our exchange of ideas and requirements.
We hope you will enjoy this blog series on our “march to Madrid” – you will hear and see more at SAPPhire NOW in Madrid.
Let us know your thoughts.