Posts Tagged ‘support’

Finally! a social customer service metric I can use to quantify ROI

June 8, 2012

I know social customer service has value but I’ve struggled to come up with a consistent and ongoing metric that frames our social customer service program’s ROI in monetary terms. But I finally had my “Aha!” moment this week during a #PDXchat discussion, “What’s The Real ROI of Social Media”.

One of the lead facilitators, Terry Starbucker, recommended that we do two things: first, know the financial value of your customers; and then tie Social Media ROI to profit, sales or customer retention. And that got me thinking……….

One important measure that I use is “Ranter to Raver” which is modeled on a metric that Dell tracks in their Social Media program. It’s a great way to quantify how many unhappy customers you have turned around into brand champions. Like Dell does, I have been calculating this solely on a percentage basis: Ranters turned into Ravers/Ranters. Which is all good but it doesn’t convey our success in dollars & cents.

So when Terry advised us to frame ROI using the financial value of our customers tied with customer retention, the light bulb went off in my head! I finally have a way to calculate ongoing ROI for our social customer service program.  I know what the financial value is for each Cancel/Save customer. All I need to do now is take that financial value and apply it to the number of Ranters-to-Ravers. Voila! I can now produce an ROI figure for our social customer service efforts.

Sweet! Thanks Terry!

Social Customer Service – What are the Metrics?

November 5, 2010

There are plenty of articles on how to measure the effectiveness of Social Media Marketing efforts. But Social Customer Service is a different animal and needs other metrics to gauge its effectiveness and impact.

The metrics you gather will provide important insight for your organization. Although there are differences between Social Marketing and Social Customer Service, there is overlap.  I have worked closely with our Marketing team to determine what to measure and what our “success metrics” should look like.  (more…)

What’s the ROI? Customer Service & Social Media

October 15, 2010

So you’ve decided to use Social Media to extend your customer service efforts out to where your customers are talking. Cool! Now comes the hard part – answering the inevitable question, “What is the ROI?”

It’s a tough question to answer because Social Media ROI is not always easily broken out in dollars & cents. What’s the cost of a complaint that goes unanswered? What’s the revenue impact of a positive mention?

I spent a good chunk of time investigating this question from a customer service perspective. In the end, I think the best answer comes from Frank Eliason, the man who started Comcast’s Social Media customer service program, Comcastcares.

See if you agree with how Frank answers the ROI question – I do!

Customer Service needs Social Media

June 16, 2010

I believe in the power of Social Media. It has kept me connected to family, re-connected me with old friends, and helped me build stronger personal and professional relationships.

I believe in the power of Social Media to improve customer service. I’ve used it to resolve my own customer service problems so I know it works! Gone are the days when Customer Service dictates how and when a customer contacts them for help.  Now, we must go to where our customers are and make things right when our products or services fall short of their expectations.

In my mind, it is a no-brainer. But there are skeptics that need convincing so I am building a business case to persuade them that the investment is necessary. During my research, I came across this video from Socialnomics that states my case perfectly (and the music is cool too).

What really sticks with me is the notion “Word of Mouth -> World of Mouth”. Take the time to watch it and let me know what you think.

Google Nexus One – Pitfalls of Partnership

January 15, 2010

The recent launch of Google’s Nexus One Android phone has been an interesting one to follow. Although it is still early in the game, the launch appears to be more fizzle than sizzle.

From a customer service perspective, it seems that the three players (Google, HTC, T-Mobile) either under-estimated or ignored the customer service challenges posed by a multi-vendor partnership.  (more…)

Missed Opportunity

October 15, 2009

MissTarget

I recently participated in a local charity’s fund raising event. You know the type – sign up online, setup a fund raising page, recruit more team members and help raise money for a worthy cause.

Once I signed up online, I began to receive encouraging emails from the charity to let me know my participation was appreciated. The emails included fund raising tips, timely reminders of the event’s details and congratulatory announcements when I received an online donation.

(more…)


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