article thumbnail

Your Company Should Be Helping Customers on Social

Harvard Business Review

McKinsey’s analysis shows that 30% of social media users prefer social care to phoning customer service. In our experience, the best companies are building up their social media capabilities to capture value by focusing on doing two things well: building a social media CRM to increase relevance and focusing on complete customer care.

CRM 8
article thumbnail

Sales Still Matters More than Social Media

Harvard Business Review

Both cite a McKinsey survey which, ironically, found that “Organizations’ efforts to go digital. Another McKinsey survey , conducted in 2011, found then that the average company with more than 1,000 employees already had more data in its CRM system than in the entire Library of Congress. are picking up steam.”

Media 9
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Get Your Salespeople to Execute Your Strategy

Harvard Business Review

McKinsey & Co. Make sure that CRM data on prospects isn’t populated with companies that are outside of your target market. But remember, every hour spent developing an opportunity that’s outside your sweet spot is a non-strategic use of time, energy, and resources. It’s a balancing act.

article thumbnail

Find the Best Local Markets to Drive Growth

Harvard Business Review

Finally, we found that these super geos made it easier for companies to develop growth strategies. This network effect reflects the power of “word of mouth,” which McKinsey says is the primary factor for 20-50% of all purchase decisions. Per capita sales of a category can vary wildly across different parts of the country.

article thumbnail

How GM Uses Social Media to Improve Cars and Customer Service

Harvard Business Review

Thanks to the proliferation of smartphones, brand and online-shopping websites, social media, and vehicle connectivity, businesses have a unique opportunity to use technology to revolutionize the customer experience and to incorporate the voice of the customer into product development. But where and how do you start? Keep it simple.

Media 8
article thumbnail

Where are you on the management scale of newbie to expert hacker?

Ask Atma

They develop action plans. Move towards developing a long-term relationship with a single supplier. Customer relationship management (CRM) – a widely-implemented strategy for managing a company’s interactions with customers, clients and sales prospects. CRM has three principal objectives: Acquire new customers.