Week Four

Article Summaries:

The first article of the week focuses on a couple of cases where businesses used social CRM metrics successfully to their advantage. Eurosuites Hotels monitored their social media traffic and engagement through third party software and used the info to figure out what their customers were interested in and when they wanted to see info about it. Another company, Udema, was unsatisfied with their current social CRM monitoring software are switched to a more in-depth program with great success.

There are tons of things that you could measure in your CRM system, but the hard part is deciding what you need to measure. Without a clear strategy, all metrics acquired are almost worthless. You should communicate with your salespeople that are collecting the data about its purpose so that they have a clear meaning of its use. If they understand the reasoning they can also help to implement it. One of the main failures of CRM metrics is because they are tracking the wrong things. Just because it's easy to focus on measurable sales data does not mean that it is the right strategy for your company. CRM metrics are extremely effective when they are focused on your prospects buying process.


Key Managerial Takeaways:

• Social media increases sales leads
• Just using a social media monitoring program isn’t enough, it has to be one that matches the goals and desires of the company using it
• Monitoring social media is an increasingly important part of CRM Marketing
• Don’t waste time and money measuring the wrong CRM data
• Explain the importance of proper data collection to whoever is collecting it, by understanding what it’s used for they can gather it more effectively
• Start at the end and work backwards.What is your CRM goal? How will you achieve it?

Article Citations:

Britt, Phil. "3 Social Media Monitoring Success Stories." - Enterprise Apps Today. QuinStreet Inc., 16 Sept. 2015. Web. 20 Sept. 2015.

Apollo, Bob. “Forrester - Which CRM Metrics Really Matter?” The Inflexion-Point Blog: ReTH!NKING the Fundamentals of B2B Selling. 19 July 2011. Web. 22 Sept. 2015.