What’s the deal with Social CRM?

Social CRM has two meanings.

  1. We take our social contacts and create a CRM-like environment to manage them. Our friends at Nimble and SproutSocial do a good job of this.
  2. We take our CRM contacts and create a social-like environment to manage them.  This is where we are seeing a lot of interest.

First, let’s take some very fundamental concepts about social data and apply them to selling.

The information that individuals provide about themselves in social media is going to be the best possible data about them.  That’s because these individuals have publicly volunteered their professional, demographic, and contact information in an effort to be seen and heard in social media.

This information is also going to be the most accurate because the individuals make the update themselves. Unlike purchased third-party databases, there is almost no lag time from when an individual changes jobs to when it is reflected in LinkedIn.  This takes the popular concept of “crowd-sourcing” and applies it to the micro-level of “sole-sourcing.”

Most third party databases universally apply locations and industries to every individual in their employ – whereas social data accurately reflects these fields for the individual. Social media provides new and unique methods of communication in the form of twitter handles and Facebook updates.  We can also learn what influences our contacts by understanding who they follow and what they mention socially.  From a B2B perspective – content mentions and social influence can be a great way to understand our contacts better.

Now let’s take some fundamental concepts about CRM and apply it to selling.

Our friends at Hubspot report that data degrades at 25% per year.  Our own individual research finds that over 50% of sales reps trust the data inside of LinkedIn more than they do inside of their own CRM. This leads to a very staggering problem – the average sales rep spends 10% of their time working outside of their CRM either validating or correcting the data inside of it.

Savvy sales professionals realize that integrating social into their CRM not only provides the most accurate and detailed data available, it gives sales people more time to sell.  10% of a sales person’s workweek is 4 hours or a half a day.  What impact would 4 additional hours per rep per week have on your sales numbers?

We are helping our clients recover this time, prioritize their sales and marketing efforts, and enrich the understanding they have about the prospects – all though social.

 

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