Customer engagement in a networked world 

Steve Fearon, VP of CRM, Oracle EMEA, gives his top tips on how organisations can capitalise on the wealth of commercial opportunities presented by social networking, and create a buzz around their products, services and business.  

Getting consumers to part with their hard-earned cash has never been more difficult. Not just because of the economy, but because the public is more informed than ever before. In a bid to get the best deal, savvy consumers are now consulting uncensored blogs, forums, videos and online social groups, well before making any purchasing decisions. 

When we take into account that 91% of global internet users are likely to buy and make recommendations online (according to industry academic Vanina Delobelle) how can businesses use the web to their competitive advantage? 

Be open and transparent

The global nature of the internet means that discussions around your business can spread like wildfire. Within seconds, rumours can fuel discussions and before long, your business could be in a state of crisis management. Mistakes have been made in the past by corporations that have hidden behind aliases and anonymous blog postings. Don’t fall into this trap. The online world will see straight through it and further damage can be done. If you’re going to embrace the opportunities presented by the online movement, you should be open, transparent and acknowledge that you don’t have control. Join online discussions about your products and services. You will be surprised at how well it will be received by the online community. 

Listen to your customers to build trust

You may ask why care about what the online world thinks of your business. If we consider that trust is a core need before a consumer will purchase, then companies need to respond to the collaborative and unrestricted nature of online discussions. This is particularly true when we take into account that consumers trust peers over CEOs, analysts and even academics, according to the 2008 Edelman Trust Index. To build trust online, you will need insight into all online discussions and the ability to identify individuals or even group influencers. A mechanism can then be put in place that immediately alerts you, through your CRM dashboard, to relevant online discussions. This will allow you to open, join and guide conversations with those key influencers around your business, customers and products. 

Provide customers with self-service options

The fact that there are over 300 million Facebook users is testament to the fact that the public enjoys interactive websites. Update your website to interact with your CRM system. Information about the customer can be used to present an informative, self-service online option. Rather than a static website, offer customers a dashboard of intuitive gadgets that show valuable account information and trends, ways of saving money and access to everything they need 24/7. By deflecting low value, high quantity queries online, contact centre staff can be freed to focus on high-value calls. Online billing will substantially reduce paper use, while also lowering postage costs. 

Stop selling, and enable buying

Originally, the internet was like a one-way street. Consumers could find information they needed and businesses could send out the requested information. This has radically changed. It’s now a two-way street where consumers and businesses discuss and share ideas, ways of improving products and even criticising your business. Instead of a one dimensional corporate website, offer customers an experience similar to that of social networking sites, with access to forums, online discussion groups, videos and wikis. Building features such as this into your website will foster that much sought after, loyal online community. Integrating information from these discussions (whether on your website or across the web) into your CRM system, will give you detailed insight you need into behaviour and purchasing patterns. With this information you can offer customers a more compelling experience, where everything they click on offers a relevant offer or opportunity. 

Offer a clear, relevant and personalised journey

In an increasingly networked world, consumers expect a personalised experience, with immediate access to answers through any channel of their choice (whether web, mobile or contact centre).  Whichever channel they choose, consumers should have a consistent experience. It should always be transparent and offer suitable, relevant and personalised access to a range of products and services. Making customers want to come back is key so be open and ensure that promotions always recognise them as an individual. If you can build that communal trust, fulfill the online and customer service experience, then you will be on course to grow with your customers.