From Being Social to Buying Social

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Social Engagement is limiting the use of the medium. Enhance your Brand's Social Capital by putting social to relevant business use.

Transcript of From Being Social to Buying Social

Business Update

From Being Social to

Buying Social

Enabling businesses with

Social Commerce

Social Commerce is not stand alone, it had arrived the day you opened your brand for display.

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The big questions that brands ask:

Are we ready for it, yet?

The time has come to measure and promote it...

Its your silent benefactor.

Does your organization do the following on social?

Nurtures a community on any social network?

Creates or curates content?

Uses social media to engage and interact with consumers?

Listens to conversations around the brand?

Uses social ads and promotions?

Does consumer research?

Recruits through social platforms?

Encourages referrals on social platforms?

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If the answer to any of these is YES, then your organization , in one way or the other, is already doing business through Social Media

3Legacy Now What It Means Whats New

Distribution Social PresenceAlways - Anytime

& Anyplace

From Walk-ins to Fans Followers & Reactors

TOMA Social Engagement Look at me , Hear from me and Remember me

From Look to Interactions

Customer Service Social Care (for Customers, Prospects, Fans, Followers and Influencers)

From Reactive to Proactive

Listen Always and Act Always Dont wait for the Doorbell

Stand Alone One To One Sales

Social Acquisitions I will enquire if someone refers. I will buy if they have bought.

Push Sales to HALO EFFECT

The Evolution from Conventional Business to Social Business

Word Of Mouth and Reputation

Social Buzz Innovate and Co Create

From WON WIN to WIN WIN

SOCIAL CAPITAL

The social media efforts of your organization result in the Social Capital

Your Social Capital will lead to Social Commerce

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SOCIAL CAPITAL

Social Presence

Social Engagement

Social BuzzSocial

Acquisitions

Social Care

Prospect Pool

Re

ten

tio

n &

Lo

yalt

y Advo

cacy & In

sights

Sales Revenue Referrals

Captive Dollars

Interest, Enquiries and

Hot Leads

Retain Order Book ($)

and minimize

Competition imprints

Billed

Business

Save Advertisement

& Survey Dollars

SOCIAL PRESENCE

Social embedded at Business touch-points and Business etched into Social assets

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Helping people

buy where they

connect... and connect

where they buy

6SOCIAL PRESENCE

Social embedded at Business touch-points and Business etched into Social assets

Ameriprise uses Linkedin to help Customers find Advisors

7SOCIAL PRESENCE

Social embedded at Business touch-points and Business etched into Social assets

Max Life: Embedding social at the core of our new corporate website to create meaningful interactions and deeper engagement

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SOCIAL ENGAGEMENT

Shape opinions about your brand and increase propensity to purchase

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Convergence of Max Life e-commerce site and Facebook login Pre-filled information

Give Ratings, Reviews and Recommendations

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Choose the people

who have shaped

you and show them

how valuable they

are

Content/messaging

The Most Valued 5

Customized referral application

Referral generationReferral

communicationAmplification

Max Life: Drive referrals on social platforms through a thematic consumer connect of valuing & protecting professional relationships

SOCIAL BUZZDeploy social mechanisms to facilitate advocacy, obtain opinions & reviews and

drive referrals

i-genius

@Consumers

Indias Largest Corporate Scholarship program

Education & Talent

Annual Scholarships worth Rs 1 Crore

i-genius Young Authors Hunt

Young Writing Talent

Book and e-book titled i-genius A Twist in the Tale

SOCIAL BUZZDeploy social mechanisms to facilitate advocacy, obtain opinions & reviews and

drive referrals

Create brand differentiation by owning the child space

i-genius

@Sales

Unique Relationship Builder for Agents

Shift the conversation from a Sales call to much more

Awareness & consideration among prospects through meaningful interaction

i-genius

@Customer

Enrich the relationship of existing customers with Max Life

Engage them better

Higher Loyalty

Brand loyalty, renewals and referrals triggered through engagements with customers

i-genius

@Employees

Dedicated igeniusscholarships for children of employees & agents

Employer Value Proposition

Caring organisation

Internal engagement

Max Life: igenius a parent & child engagement programmethat aims to create a connect beyond business

Strong, relevant, self-sustaining

with built-in community amplifiers

On Ground. Online. Interlinked.

-igenius scholarships

Fun & Learn

Parenting Workshops

CONTENT CONVERSATIONS Providing reasons to stimulate Social

Conversations on an ongoing basis at multiple

platforms

i-genius Young Authors Hunt

COMMUNITYBuilt on a foundation of relevant

community driven interventions.

Activities touched various facets of talent

both among children & parents.

SOCIAL BUZZ

COMMERCE has naturally followed with engagement with this community

Over 20 lac registrations in i-genius since 2010

3.65 lacs Facebook Community

Over 39,000 community members have become customers

Over 36,000 policies, AFYP of Rs 114 crs since ITD

Greater Loyalty from over 1,21,000 customers have enrolled their children in i-genius

An all new child plan is being developed based on the

insights gathered from the community

SOCIAL BUZZ

SOCIAL ACQUSITIONS

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Driving acquisitions through social with customized propositions or a distinct

process

American Express lets customers buy stuff on

Twitter by using a hashtag

Dell drives exclusive flash sales using

social media that are only for the social

community

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Max Life: Plan to capitalize on check-ins during Parenting events to promote child plans

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SOCIAL ACQUSITIONS

Driving acquisitions through social with customized propositions or a distinct

process

SOCIAL CARE

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Customer experience management focused on listening, solving and proactively

improving processes to aid retention and loyalty

Shift from the conventional CRM that was transactional in nature to Social CRM that is conversational and collaborative

Evolution of CRM Infographic by Alyson Stone; Image Source: http://www.desk.com/blog/evolution-crm-infographic/

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SOCIAL CARE

Customer experience management focused on listening, solving and proactively

improving processes to aid retention and loyalty

Max Life: Proposed Social CRM application that will manage servicing, renewals, query log-in & resolutions while having a core engagement idea at heart that drives repeat usage

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SOCIAL CARECustomer experience management focused on listening, solving and proactively

improving processes to aid retention and loyalty

Listening and ORM Practice to facilitate customer servicing - cross functional processes to resolve queries and complaints with minimized lag and step-by-step tracking

Twitters evolution takes it down two very specific paths: One of them is Customer service.

SOCIAL CARE

Customer experience management focused on listening, solving and proactively

improving processes to aid retention and loyalty

Max Life: Gearing towards a full scale query resolution process on Twitter

FUTURE GAZING WHAT WILL PLAY OUT IN THE NEXT THREE YEARS

FORESIGHTS

Focus to shift from Big Data to Unified Data

Advocacy & Referrals to be the harbinger of Acquisitions

Social CRM to turn into a necessity

Underwriting to go social and social risk to become a global parameter

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CHALLENGES

Data integration in view of regulations and data policies

Limitations of tools to measure a criss-crossing consumer journey

The approach to social Fragmented instead of Business centric

Security & Privacy concerns

Absence of platform agnostic development technologies that lead to inflated costs and timelines