Mzinga Presentation - BDI 7/20/11 The Social Customer Leadership Forum

The Social Customer
Presented by Mike Merriman
July 2011

MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l

The Social Organization

The Old Model

MZINGA l #1 IN ON-DEMAND SOCIAL SOFTWARE l Fresh Ground, Inc.

Now


Customers are taking matters into
their own hands…

.

48% report always or often using an online posting or blog to get other’s
opinions about a company’s customer service reputation

Source: American Express Global Customer Service Barometer April 13th – April 20th, 2010 9

What does that mean for your business?

The pressure is higher than ever to…

10

Work smarter & more efficiently.
According to IDC, the cost of NOT easily
finding information = $3,300 per employee
each year

(That’s $3.3M in annual lost
opportunity cost for a
business of 1000 people)

11

Build brand credibility
& buyer trust.

30% of consumers rely less on
advertising, and much more on
recommendations from friends and
family for making buying decisions.

12

Reduce customer
response times.

More than 90% of customers' issues
haven't been unearthed in most organizations,
and in addition, often the organization doesn't
have answers for them, according to Forrester
Research.

These issues lead to long support calls, poor
issue resolution, cost increases and customer
dissatisfaction.

13

Improve customer
loyalty & satisfaction
The primary driver of a consumer's loyalty is
their experience with your business, product
or service.

Yet, marketers on average only invest
20% of their programs in loyalty and
customer experience efforts.

14

Introducing the
Social Organization…


The Elements of a Social Organization

A New Model

Ideate Share Listen Change
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Social Business Ecosystem
• Streamlined
client acquisition
• Customer
engagement
• Loyalty &
retention
• Listening &
engagement • On-demand
support
• Brand building
Customer
• Demand
generation Experience
• Social
commerce Brand
Mzinga Social Employee
Experience Business Experience
Ecosystem

• Engagement &
Partner collaboration
Experience
• Satisfaction &
retention
• Social business • On-boarding &
outsourcing
recruiting
• Indirect revenue
• Social learning
streams
• Developer
networks


What does it mean to foster a
social “customer experience”?


“ …to engage the customer in a collaborative
conversation in order to provide a mutually beneficial
value in a trusted and transparent business environment.
”
- Paul Greenberg, Author
CRM at the Speed of Light: Social CRM 2.0 Strategies, Tools,
and Techniques for Engaging Your Customers


“ It is not about the technology, it is about the people, process
and cultural shifts necessary to support and grow a business
with the social customer.
” - Mitch Lieberman, President & CEO
Comity Technology Advisors

“ Ultimately social media is not about the tools,
technology and whiz-bang things. It’s about
culture and culture change.
” - Scott Monty, head of social media
Ford Motor Company


Let’s look at a few examples in
practice…


Customer support: The initial tweet


Customer experience: The initial tweet


Within 15 minutes…


And then, a few days later…


Vitamin Shoppe
Solution Overview

Social Commerce:
Integrated ratings & reviews on all
online products for sale on the
Vitamin Shoppe public website

Business Goals

• Increase revenue through product
ratings & reviews

• User reviews improve buyer trust, and
drive customer retention

Results & ROI

• 2.9M unique visitors monthly
• Increased web traffic
• Increased product sales for highly rated
products


DTCC
Solution Overview

An online portal for marketing DTCC
services, delivering training to the
masses, and enabling customers to
collaborate around content

Business Goals

• Increase revenue through fee-based
learning & related usage

• Improve customer access to relevant
service information

Results & ROI

• Over 35,000 current users

• Additional revenue stream
Financial services company that provides custody and asset
servicing for 3.5 million securities issues from the United States and
110 other countries and territories, valued at $40 trillion.


FAST Search & Transfer
Solution Overview

An online portal for delivering and
managing technical training for the
purposes of ongoing customer &
partner education

Business Goals

• Improve customer & partner competency

• Increase revenue through fee-based
learning solutions

• Increase customer satisfaction through a
comprehensive customer experience

Results & ROI

• Over 175,000 current users

• Active user participation in more than
12,000 learning events

• Additional revenue stream


Thank you!


Mzinga Presentation - BDI 7/20/11 The Social Customer Leadership Forum

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