Combine Business Intelligence with Social CRM
Taking business data for Social CRM and turning into actionable knowledge is business intelligence (BI). It’s seeing your organization for what it really is and what it has the power to become by considering all the data available.
BI technologies aim to empower an organization with better decision-making processes, using the power of knowledge at its fullest to create a competitive edge for your brand. In many ways, it’s the precursor to the kind of data you have access to through social CRM.
BI technologies provide historical, current, and predictive data for any number of business purposes. Here are a few ways that you can use BI to direct and affect brand initiatives, along with social CRM:
Reporting: Say your marketing team is leading a campaign in order to launch a new product. Your social CRM or BI system can pull data about online conversations, such as retweets, while your BI system tracks sales. In this way, you can see the success of the campaign through social CRM and BI together.
Forecasting: The same marketing campaign mentioned in the preceding paragraph can also be used to predict the success of another new product launch later in the year. Descriptive analysis will tell you what types of messages were shared more often, and social conversations can be tailored accordingly for optimum reach.
Strategic planning: To determine what your business’s next new product should be, look to predictive analytics to determine what consumers want. By looking at the questions customers asked during the most recent launch, you can get a clear picture of what features customers were hoping for the first time around.
Performance measurement: Make BI and social CRM reports easy to consume, with clearly outlined goals and metrics. To continue with our product launch example, you might set a goal of 100 retweets (RTs) and 1,000 units sold on day one. You can then easily track this and report on performance through BI and social CRM.