In the “social” chapter in my new book, I was honored to have Paul Greenberg talk about the social customer and the fact that he/she increasingly “controls the conversation”. He succinctly talked about “customer referral value” versus “customer lifetime value”.
I also included examples of how Avon, Starbucks, P&G and PepsiCo are leveraging social networks for new revenue sources.
Having said that, I recently read two sobering blogs.
Here’s my take:
a) We need more positive SCRM stories
Seems like everyone has heard of David Carroll’s guitar incident with United Airlines. And Kevin Smith and Southwest. And Ann Minch and Bank of America. In each case the corporation comes out looking sloppy at best, evil at worst. And we expect them to embrace this customer? We need way more positive corporate examples of SRCM than we have today because the negative ones are giving the social customer a whiny image in many corporate halls.
b) The barrier for the “social” moniker for vendors is too low
Every startup has social in their business plans, and plenty of legacy ERP, CRM, collaboration tech companies are spray painting the social color on their products. Jeremiah Oywang calls it the Cambrian era in the evolution of social CRM – species appearing at rapid speed. Add to a) and we have too many immature vendors chasing a cynical customer base.
c) Social Channels = Buzz, Traditional Channels = Bulk