Customer-Centricity through social media and BPM Organization Strategy
The growth of social media and its proliferation within the enterprise provides numerous opportunities for organizations to interact and engage with end customers. Social Media along with strong Business Process Management (BPM) focusenable opportunities to advance their customer-centricity efforts.
Here are some ways a combination of social media and BPM can promote customer-centricity in an organization:
Consider the case of a bank that is launching a new credit card for students. To reach its target audience, it can search the data base of college students with a Twitter account, and target those who fit the required profile. This is the first level of customer segmentation. Next, by examining the tweets of these students, the bank can identify those tweets about credit cards. Based on this, a process can be triggered to facilitate customer conversion, by initiating a social media campaign that sends customized information to the prospects about the credit card products. Such a campaign is much cheaper than traditional marketing campaigns and can therefore provide higher RoI.
Many users of social media, share milestones of their lives such as a new job, marriage on social media platforms. For instance, a customer of an insurance company, who has just had a new baby, shares this news on Facebook. The insurance company, who has been monitoring the social media accounts of its customers, can initiate a dialog with the customer about upgrading her insurance policies to protect the new addition to the family. A process could be triggered to enable this customer dialog and subsequent servicing of the customer's request, as applicable. At the next level, the organization can model and define business processes to factor in the relevant feedback as validated with the customer.
These are just few of the several ways that social media and BPM can be leveraged to strengthen customer acquisition, customer servicing and customer relationship management. For more details, read the article, 'Social Media and Business Process Management (BPM) enable customer-centricity.'
While social media and BPM can certainly enable customer-centricity, the long term success of an enterprise will depend on its social media monetization strategies and the agility of its internal business processes. Such an organization will be able to successfully acquire new customers, align and position its offerings in line with customer requirements, optimize its marketing strategies effectively, thereby winning that most coveted prize – a loyal customer base.???