CRM_and_Social_Networks

1MicrosoftDynamics®CRMCRMandSocialNetworking:EngagingtheSocialCustomerWhitePaperDate:July9th,2009...................................................................................................................................................................3Overview....................................................................................................................................................................3Whatdoessocialnetworkingmeanforbusinesstoday?..........................................................................................3TheIntersectionofSocialNetworkingandCRM...........................................................................................................3WhatdoessocialnetworkinghavetodowithCRM?................................................................................................3Acombinedstrategyforrichercustomerinteractions..............................................................................................4SocialNetworkingAcceleratorforMicrosoftDynamics®CRM.....................................................................................4SocialNetworkingforMarketing...................................................................................................................................4Increasebrandawareness.........................................................................................................................................5Betterleverageonlinechannels................................................................................................................................5Measureresults.........................................................................................................................................................5SocialNetworkingforSales...........................................................................................................................................6Findandconnectwithnewprospects.......................................................................................................................6Engageinmoremeaningfulconversations................................................................................................................6Betterunderstandyourcustomers...........................................................................................................................6SocialNetworkingforCustomerService.......................................................................................................................7Createanearlywarningsystemforproductissues...................................................................................................7Provideefficientmulti-channelservice.....................................................................................................................7Tapintonewfeedbackchannels...............................................................................................................................8TechnologyRequirements.............................................................................................................................................8Conclusion.....................................................................................................................................................................9WorksCited.................................................................................................................................................................103IntroductionOverviewAssocialnetworkingsitesexplodeinpopularity,thehypeandinterestcontinuetobuild.Facebookalonetopped200millionusersin2009(Wauter2009).Butsortingthefactfromthehypecanbeachallenge.Socialnetworkingatahighlevelisdescribedastheconvergenceoftechnologiesthatmakeitpossibleforindividualstoeasilycommunicate,shareinformation,andformnewcommunitiesonline.Butthebigquestiontodayisnotwhatsocialnetworkingis,butratherwhatitmeansforbusinesses.Whilesocialnetworksbeganastheprovinceofindividuals,businessesarenowtryingtocapitalizeonthistrendastheysearchforspecificstrategiesandtacticstoderivevaluefromit.Infact,GartnerResearchshowsalargeincreaseininvestmentinsocialnetworkingbybusinesses(Metz,2008).Usedeffectively,socialnetworkingsitescanenablemarketingprofessionals,salespeople,andcustomerserviceagentstodevelopmeaningfulrelationshipswithcustomersinnewways.Butthetruevaluefromsocialnetworkingcan’tbeachievedinisolation.Rather,organizationsneedtotakestockoftheircorebusinessprocessesandcustomermanagementinitiativesandidentifyhowsocialnetworkingcanfurtherenhanceandextendthoseinitiatives.ThispaperdiscussestangiblewaysthatorganizationscanextractmeasurablebusinessvaluefromsocialnetworkingbyleveragingitinconjunctionwithCustomerRelationshipManagement(CRM)solutions.Whatdoessocialnetworkingmeanforbusinesstoday?Unlikeothercommunicationmediums,socialnetworkingsitesnotonlyprovidetheabilityforuserstocommunicatewitheachotherbutalsoenableuserst