harnessing the power of social media for a better crm ... › pdf ›...

Harnessing the Power of Social Media for a Better CRM Experience

November 8, 2011

Better CRM Experience

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Today’s Presenters

John Annunziato II A senior associate in our Blue Bell office John hasJohn Annunziato IISenior [email protected]

A senior associate in our Blue Bell office, John has more than 3 years of experience. He is a certified Microsoft Dynamics CRM and Scribe technician and is knowledgeable with Javascript and SQL Programming

Donato DiorioF d d CEO

Donato is an entrepreneur, thought leader and fFounder and CEO

Broadlook Technologies877.977.8080 x246 [email protected]

educator focused on best practices in internet research and data quality. Donato is the CEO and Founder of Broadlook which serves thousands of clients worldwide, including Fortune 100 companies, with applications to aid in sales, marketing, CRM pp , g,data quality, recruiting, corporate sourcing and business intelligence.

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Harnessing the power of Social Mediab CRM i

Harnessing the power of Social Mediab CRM ito create a better CRM experienceto create a better CRM experience

#McGSocialCRM

The Evolution of Sales DesireThe Evolution of Sales Desire

•I want...More data(lists)•I want...More data(lists)

•I want... Better selection(databases)

I t M t t•I want... Better selection(databases)

I t M t t•I want... More contacts per company(zoom)

•I want... Fresher contacts(Data.com by SFDC)

•I want... More contacts per company(zoom)

•I want... Fresher contacts(Data.com by SFDC)y

•I want... More information(InsideView)

I t M k l d

y

•I want... More information(InsideView)

I t M k l d•I want... More knowledge(LinkedIn)

•I want... More process (crm)

•I want... More knowledge(LinkedIn)

•I want... More process (crm)p ( )

•I want... Sustainable processp ( )

•I want... Sustainable process

Data Information Knowledge Process

CRM Data Process: General state of evolution

Stone Knives and Bear Skins

The Fully Powered CRM

Data Q lit

DataPQuality Process

Competitive CRMCompetitiveAdvantage

CRMProcess

The Four Zones: Where do you fall?The Four Zones: Where do you fall?

DataWithout a scalable CRM process you are limited to

Without a competitive advantage, you continually face

Qualityprocess you are limited to small scale success.

continually face competitors using the same data.

2. small scale2. small scale 3. competitiveenvironment3. competitiveenvironment

4. scalable4. scalable

successsuccess environmentenvironmentWithout data quality, success is random.

CRM CompetitivebrilliancebrillianceSometimes you

connect at the right time and succeed. P d t lit 1.random1.random

ProcessAdvantagePoor data quality invariably forces quantitative selling vs. qualitative.

successsuccess

vs. qualitative.

22 Factors: The Fully powered CRM22 Factors: The Fully powered CRM

•F h•F h

Data Quality

CompetitiveAdvantage

Data Process

CRMProcess

•Targeted •CRM Ready •Transparent•Fresh •Accuracy•Fresh •Accuracy

•Targeted•CustomC l

•CRM Ready

•CRM Mashed

CRM S d

•Transparent•ActionableS l•Multi‐venue

•Built fast•Multi‐venue

•Built fast•Complete

•Exclusive•CRM Scored

•Social Mash

•Seamless

•Measured

•Normalized

•Scored•Normalized

•Scored•Event Triggers •Sustainable

•Verified•Verified

Fresh:Fresh: The base of data decayThe base of data decayCompetitiveAdvantage

Data CRM

Data Quality

Process Process

Th b f d t d i ti d t l t j b tt itiTh b f d t d i ti d t l t j b tt itiThe base of data decay is tied strongly to job attrition.The base of data decay is tied strongly to job attrition.

Fresh: Base decay by yearFresh: Base decay by yearCompetitiveAdvantage

Data QualityData CRM

Does not account for:Does not account for:

Process Process

Change in title, promotionChange in title, promotion

Does not account for:Does not account for:

Change in working locationChange of phone numberChange in working locationChange of phone numberg pAdd mobile phone numberChange of department

g pAdd mobile phone numberChange of departmentChange of departmentChange of area codeChange of email format

Change of departmentChange of area codeChange of email formatChange of email formatMerger or acquisitionChange of email formatMerger or acquisition

#McGSocialCRM

POLLPOLL

Fresh: Fresh: Decay on all factorsDecay on all factorsCompetitiveAdvantage


Process Process

Accuracy: Spiral Down...Accuracy: Spiral Down...CompetitiveAdvantage


What is the really lost without accuracy?What is the really lost without accuracy?Process Process

Credibility ‐ attempting to contact the wrong h l ft th

Credibility ‐ attempting to contact the wrong h l ft thperson or someone who left months ago

Confidence ‐ The tone of the outreach

person or someone who left months ago

Confidence ‐ The tone of the outreachConfidence The tone of the outreach changes. “who is in charge of? “ vs. “Connect me with Dan”

Confidence The tone of the outreach changes. “who is in charge of? “ vs. “Connect me with Dan”me with Dan

Time ‐ It takes longer to make a good

me with Dan

Time ‐ It takes longer to make a good connection

Quality You spiral into a quantitative method

connection

Quality You spiral into a quantitative methodQuality ‐ You spiral into a quantitative methodQuality ‐ You spiral into a quantitative method

MultiMulti‐‐venuevenueCompetitiveAdvantage


Name title and phone are not enoughName title and phone are not enough

Process Process

Name, title and phone are not enough. Superior CRM data includes multiple contact

t id tif t tt ti t d

Name, title and phone are not enough. Superior CRM data includes multiple contact

t id tif t tt ti t dvenues to identify, get attention, connect and build rapport.venues to identify, get attention, connect and build rapport.

Basics: name, title, email, phoneBasics: name, title, email, phone

Social: LinkedIn, Facebook, Blogs, TwitterSocial: LinkedIn, Facebook, Blogs, Twitter

Rapport: Biography, Peer influencersRapport: Biography, Peer influencers

Recency: Relevant industry eventsRecency: Relevant industry events

MultiMulti‐‐venue venue ‐‐ exampleexampleCompetitiveAdvantage


Process Process

Built fastBuilt fastCompetitiveAdvantage


• How quick was the list produced?• How quick was the list produced?

Process Process

q pq p•This is the reality of data aggregators•A k th H ld i ld t d t ?•This is the reality of data aggregators•A k th H ld i ld t d t ?•Ask them: How old is your oldest data?•Ask them: How old is your oldest data?

59.5%59.5%(4000 records, built over 8 quarters, 59.5% accurate.)

#McGSocialCRM

POLLPOLL

NormalizedNormalizedCompetitiveAdvantage


Stage settingStage setting

Process Process

• Over 30% of CRM data includes duplicates• Periodic De duping is treating a symptom of disease• Over 30% of CRM data includes duplicates• Periodic De duping is treating a symptom of disease

Stage settingStage setting

• Periodic De‐duping is treating a symptom of disease• The solution to prevent dupes is Normalization

l h h l

• Periodic De‐duping is treating a symptom of disease• The solution to prevent dupes is Normalization

l h h l• Normalization cannot happen without a plan• A plan for your data is a Data Plan• Normalization cannot happen without a plan• A plan for your data is a Data Plan• A plan for your CRM is a CRM Data Plan• Enforced Normalization is the cure for duplicates• A plan for your CRM is a CRM Data Plan• Enforced Normalization is the cure for duplicatespp

Normalized Normalized ‐‐ The Data PlanThe Data PlanCompetitiveAdvantage


Rule Setting Like this not this

Process Process

‐Company Names

Case Convert to proper Broadlook Technologies broadlook technologies

Commas remove Broadlook Technologies Inc Broadlook Technologies, Incg g ,

Initials Space only R A Smith RA Smith

Leading “The” Move to end Container Company, The The Container Company

O di l Abb i 1 M di l Di Fi M di l DiOrdinals Abbreviate 1st Medical Directors First Medical Directors

Periods Remove R A Smith R.A. Smith

Phrase: “and company” Convert to “& Co” R A Smith & Co R A Smith & Company

• Data Plans are easy..• Data Plans are easy..Phrase: “and” Convert to “&” M & M Insurance M and M Insurance

• Data Plans avoid duplicates..

• Data Plans save $

• Data Plans avoid duplicates..

• Data Plans save $

• Do you have a Data Plan?• Do you have a Data Plan?

#McGSocialCRM

POLLPOLL

Normalized: Real CRM DataNormalized: Real CRM DataCompetitiveAdvantage


Process Process

StandardStandardStandardStandardStandardStandardCRMCRM

StandardStandardCRMCRMCRMCRMreportreportCRMCRMreportreportpppp

#McGSocialCRM

POLLPOLL

NormalizedNormalizedCompetitiveAdvantage


Process Process

How many comp in title, promotionHow many comp in title, promotionChange in working locationChange of phone numberChange in working locationChange of phone numberAdd mobile phone numberChange of departmentAdd mobile phone numberChange of department

Normalized: Only 3 contactsNormalized: Only 3 contactsCompetitiveAdvantage


Process Process

VerifiedVerifiedCompetitiveAdvantage


Call verification is the ultimate step in creating the ultimate Call verification is the ultimate step in creating the ultimate

Process Process

p glist. Given excellent starting data, call verification can be done inexpensively. Verifying is very different than discovery.

p glist. Given excellent starting data, call verification can be done inexpensively. Verifying is very different than discovery.Continuum of call verification. Continuum of call verification.

Exists: Verify the person at a specific extension is there.Exists: Verify the person at a specific extension is there.

Connect: Actually verifying by talking to the target prospect.Connect: Actually verifying by talking to the target prospect.

Full: Talking with a person. Verify data points of name, title, email. (phone is verified by the process of connecting)Full: Talking with a person. Verify data points of name, title, email. (phone is verified by the process of connecting)

Note: Crowd‐sourced data is NOT call verified. Crowd sourcing suffers from the same aliments as most lists not built fast not accurate not normalized andNote: Crowd‐sourced data is NOT call verified. Crowd sourcing suffers from the same aliments as most lists not built fast not accurate not normalized andsame aliments as most lists, not built‐fast, not accurate, not normalized, and not scored.same aliments as most lists, not built‐fast, not accurate, not normalized, and not scored.

Data quality metricsPoints

Factors Max 4 3 2 1Max 3Fresh 4 <30 days <60 days <90 days <180 days

AAccuracy 4 95% 80% + 70% + 60% +

Built fast 4 <14 days <45 days <90 days <180 daysu t ast <14 days <45 days <90 days <180 days

Normalized 4 yes

Scored 2 yes

Verified 2 yesVerified 2 yes

Max total 20

#McGSocialCRM

POLLPOLL

TargetedTargetedData

QualityCompetitiveAdvantage

Data CRM

•SIC code vs self‐description Company‐•SIC code vs self‐description Company‐

Process Process

SIC code vs. self description Companycentric vs. contact centricSIC code vs. self description Companycentric vs. contact centric

•What the company is doing today vs. what •What the company is doing today vs. what it did last yearit did last year

•Market Mapping•Market Mapping



Data CRM

Targeting cannot be accomplished by googling, using online databases or social networks You cannot rely on keywordsTargeting cannot be accomplished by googling, using online databases or social networks You cannot rely on keywords

Process Process

databases or social networks. You cannot rely on keywords.databases or social networks. You cannot rely on keywords.

Targeting Targeting ““CRM SoftwareCRM Software””Data


Data CRM

By page 5 of google, 4/10 results are CRM software companiesBy page 5 of google, 4/10 results are CRM software companiesProcess Process

4/10 results are CRM companies4/10 results are CRM companies4/10 results are CRM companies4/10 results are CRM companies



Data CRM

Th i l t t t t tTh i l t t t t t

Process Process

The single most accurate way to target companies is by answering:The single most accurate way to target companies is by answering:

• How does that company describe itself today?h f

• How does that company describe itself today?h f• How do I record that information in my CRM?

• How do I keep that information updated?• How do I record that information in my CRM?• How do I keep that information updated?• How often should I update it?• How do I make this process sustainable?• How often should I update it?• How do I make this process sustainable?pp

CustomCustomData


Data CRMProcess Process

•Every business model has different success requirements

•Every business model has different success requirementsrequirements.

•One business may require email another

requirements.

•One business may require email another•One business may require email, another may not have a need for it.

•One business may require email, another may not have a need for it.

•Get an understanding of what your list •Get an understanding of what your list component success factors are.component success factors are.

CompleteCompleteData


Data CRM

•Bigger pool more results•Bigger pool more results

Process Process

•Bigger pool = more results

•Complete does not equal one point of

•Bigger pool = more results

•Complete does not equal one point of•Complete does not equal one point of contact per company

•Complete does not equal one point of contact per company

•To be considered complete, a list must have •To be considered complete, a list must have as many contacts per company that is necessary for that sectoras many contacts per company that is necessary for that sectornecessary for that sectornecessary for that sector

ExclusiveExclusiveData



•Is your list online? •Is your list online?

•Who else has your list?•Who else has your list?

•How many times has your list been sold?•How many times has your list been sold?

•Is your list.... everyone’s list?•Is your list.... everyone’s list?

Competitive Advantage metrics

PointsPointsFactors Max 6 5 4 3 2 1Targeted 6 target by self hand built specialty

keywords sic codeTargeted 6 g ydescription hand built p y

databasekeywords sic code

Custom 6 built on‐demand mashed from many sources

pulled from larger samplep

Complete 4 95% + 85% + 65% + 55% +

M l i h 6Multi‐touch 6 3 points of contact 2 points of contact 1 point of contact

Multi‐venue 2 4 venues 2 venues4 venues 2 venues

Exclusive 6 no competitors limited or membership access

anyone can buy access

Max total 30

#McGSocialCRM

POLLPOLL

Data Quality & Competitive Advantage

30Quadrant Key gege InfluenceCRM DataQuadrant Key

antag

antag

Qualitative /

newnewCRMCRM

Adva

AdvaEvent driven leadlead

QualitativeCRM+CRM+90 days90 days

15

itive

itive

Quantitative /

QCyclic

90 days90 days

CRM+CRM+180 days180 days

mpe

timpe

ti

Quantitative/

Quantitative /Cyclic

180 days180 days

CRM+ CRM+ 360 days360 days

Com

ComQuantitative/

commodityCold Call Warm call

360 days360 days

0 10 20

Data QualityData Quality

CRM ReadyCRM ReadyCompetitiveAdvantage

DataQuality


•Incoming data adheres to your Data Plan•Incoming data adheres to your Data Plan

•Your CRM is cleaned, de‐duped, and f D Pl

•Your CRM is cleaned, de‐duped, and f D Plconforms to your Data Plan

•Y CRM h d d l i t t h

conforms to your Data Plan

•Y CRM h d d l i t t h•Your CRM has de‐dupe logic to catch incoming duplicates

•Your CRM has de‐dupe logic to catch incoming duplicatesg pg p

CRM MashCRM MashCompetitiveAdvantage

DataQuality

Data CRM

Are incoming contacts mashed with existing d i ?

Are incoming contacts mashed with existing d i ?

Process Process

records in you CRM?

Single Point of Truth Interface: CRM SPOT®

records in you CRM?

Single Point of Truth Interface: CRM SPOT®Single Point of Truth Interface: CRM SPOTSingle Point of Truth Interface: CRM SPOT

Incoming dataIncoming data CRM dataCRM dataIncoming dataIncoming data

Shown: Broadlook’s Patent‐Pending SPOT Interface for Microsoft Dynamics CRMShown: Broadlook’s Patent‐Pending SPOT Interface for Microsoft Dynamics CRM

CRM ScoredCRM ScoredCompetitiveAdvantage

DataQuality

Data CRM

Is all contact data scored, based on:Is all contact data scored, based on:Process Process

• Data completeness

• Cross‐references

• CRM Accounts

• Social data

• Data completeness

• Cross‐references

• CRM Accounts

• Social data

• Data age

• CRM Leads

• Bio data

• Social Intuition

• Data age

• CRM Leads

• Bio data

• Social Intuition

• CRM Contacts• CRM Contacts

scorescore

Social MashSocial MashCompetitiveAdvantage

DataQuality


Does the new data coming into your CRMDoes the new data coming into your CRMDoes the new data coming into your CRM mash with social networks?Does the new data coming into your CRM mash with social networks?

TransparentTransparentCompetitiveAdvantage

DataQuality

Data CRM

•Where did the data come from•Where did the data come fromProcess Process

•Is each source of the data documented?•Are the sources actionable to review live?•Is each source of the data documented?•Are the sources actionable to review live?Are the sources actionable to review live?Are the sources actionable to review live?

Event TriggersEvent TriggersCompetitiveAdvantage

DataQuality


• H i d t di l h l l k• H i d t di l h l l k• Having data display when a sales rep looks up a company is NOT an event trigger

• Having data display when a sales rep looks up a company is NOT an event trigger

• Event triggers should notify the sales rep that something has happened

• Event triggers should notify the sales rep that something has happenedthat something has happened.that something has happened.

Event TriggersEvent TriggersCompetitiveAdvantage

DataQuality


ActionableActionableCompetitiveAdvantage

DataQuality


•If your new list is in the hands of your CRM administrator researcher or someone else

•If your new list is in the hands of your CRM administrator researcher or someone elseadministrator, researcher or someone else, your new list is aging every day.administrator, researcher or someone else, your new list is aging every day.

•Any newly acquired list needs to moved into •Any newly acquired list needs to moved into y y qyour CRM immediately

•Are your sales reps looking for triggers or

y y qyour CRM immediately

•Are your sales reps looking for triggers or•Are your sales reps looking for triggers or being alerted

•Are your sales reps looking for triggers or being alerted

Seamless CRMSeamless CRMCompetitiveAdvantage

DataQuality

CRMData

•T b ffi i t ll j b i f ti•T b ffi i t ll j b i f ti

ProcessProcess

•To be efficient, all major business functions need to be inside in the CRM.•To be efficient, all major business functions need to be inside in the CRM.

•Data sources that are not seamlessly mashed•Data sources that are not seamlessly mashed•Data sources that are not seamlessly mashed with CRM hampers business execution. •Data sources that are not seamlessly mashed with CRM hampers business execution.

• Beware of islands of technology.• Beware of islands of technology.gygy

Business lives inside the CRMBusiness lives inside the CRM

MeasuredMeasuredCompetitiveAdvantage

DataQuality

CRMDataProcessProcess

• If business processes are not measured, • If business processes are not measured, they cannot be improved or reported on.they cannot be improved or reported on.

• Data... when inaccessible by workflows, cannot be measured

• Data... when inaccessible by workflows, cannot be measuredcannot be measured.cannot be measured.

SustainableSustainableCompetitiveAdvantage

DataQuality

CRMDataProcessProcess

The measures of success for the sustainableThe measures of success for the sustainableThe measures of success for the sustainable process:The measures of success for the sustainable process:

•Refined •Refined •Documented•Repeatable•Documented•RepeatableRepeatable•Culturally Enforced

h l ll f d

Repeatable•Culturally Enforced

h l ll f d•Technologically Enforced•Automated•Technologically Enforced•Automated

How are you getting your leads?30 Sustainable processCRM Data

Quadrant Key gegeQualitative /E d i

CRMCRM BroadlookBroadlook

Quadrant Key

antag

antag

Event driven

Qualitative Adva

Adva

15

Quantitative /

QualitativeCyclic ZoominfoZoominfo InsideInside

ViewViewLinkedINLinkedIN

itive

itive

Quantitative /Cyclic

JigsawJigsawPhonePhoneBookBook HooversHooversm

peti

mpe

ti

0

Quantitative/commodity

Cold Call

BookBook HooversHoovers

Warm callCom

Com

0 10 20

Data QualityData Quality

Next time you buy data...

“I t li t b ilt d d t d“I t li t b ilt d d t d“I want my list built on‐demand, generated based on how companies describe “I want my list built on‐demand, generated based on how companies describe pthemselves. It needs to be 95% inclusive of

k I 3 i f

pthemselves. It needs to be 95% inclusive of

k I 3 i fmy target market. I want 3 points of contact for each company, multiple waysmy target market. I want 3 points of contact for each company, multiple wayscontact for each company, multiple ways like email and social networks to reach out h d li i i id

contact for each company, multiple ways like email and social networks to reach out h d li i i idthem. You must deliver it inside my CRM and you can’t sell this list to anyone else”them. You must deliver it inside my CRM and you can’t sell this list to anyone else”and you can t sell this list to anyone elseand you can t sell this list to anyone else

Questions?

Schedule a meeting with your McGladrey CRM Consultant to learn h t k ti ti b t f !what marketing options are best for you!

John Annunziato IIJohn Annunziato [email protected]

McGladrey’s Broadlook representative:Paul Cielinski877 977 8080 x246877.977.8080 x246 [email protected]

facebook.com/McGladreyTBS

twitter.com/McGladreyTechytwitter.com/McGladreyCRM

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