Improved customer engagement through social media for a leading technology company
Case Studies:Mu Sigma
Published On: 17 August 2015
What We Did: Social data driven strategies to engage customers and prospects and mine for sales leads
The Impact We Made: $155 million in revenues from sales from new leads or influenced sales from existing leads
Summary - Social media as a means to drive customer engagement
Mu Sigma helped a leading global technology provider monetize their social media investments to improve customer engagement. The solution suite that was implemented helped the client analyze how customers engage with digital content, the type of content which drives most engagement, the type of customer activity which leads to sale and helped identify key influencers and new prospects who should be targeted. Mu Sigma worked with a client over the course of a two-year engagement to design, develop and implement Social Targeting and Content Scoring solutions which led to a revenue impact of $155M.
About The Client - A technology provider
The client is a Fortune 500 global technology provider that manufactures and sells computer hardware and peripherals in consumer, mid-market, large enterprises and public market segments. The company operates in all major geographic markets and is a pioneer in using social networks to connect with its customers.
The Challenge - Information clutter across social properties
The client had invested in digital properties on private and public social networks to improve access to information about their products and services for representatives of institutional customers. The client wanted to measure the value of these investments. The marketing group also wanted to improve the returns from their investments in multiple digital properties by better leveraging enormous quantities of information available on these social portals.
The Approach - Scoring digital content
To gather data for the ROI measurement, the team merged visitor data from each of the portals with the client’s internal purchase data to create holistic view of online behaviors of customers and prospects. A number of business insights were generated about the role of influencers in driving purchase and about the types of visitor activities that lead to purchase. These insights then prompted collaboration between the Marketing and Sales teams.
One of the ideas that emerged was to use visitor activity as a source of filtered sales leads for the company’s sales force to help them acquire new customers and identify opportunities to grow revenue from existing customers. After detailed analysis and a pilot with one business unit, the team developed a tool to automate the process of identifying leads and feeding existing sales systems so that the new leads could be acted upon. The engagement also spawned other questions on the type and nature of content on the social portals which led to high customer engagement. This then led to development of an application to score digital content on an ongoing basis based on customer engagement metrics.
- A hypothesis-based approach was followed to understand patterns in visitor behavior and purchase activity and to identify opportunities for improved ROI through actionable insights:
- Structured and unstructured customer-level information was collected and integrated from several different sources within and outside the company’s -firewall
- “Lenses” to look at customers were determined based on identified applications
- Models were developed to score and segment customers across the “lens” dimensions
- These models were operationalized into decision support tools for the marketing, sales and social media engagement teams. This led to significant improvements in their ability to target the right customer, through the right tactic, at the right time
- Models were also developed to score content on the social portals and help the marketing team improve customer engagement through better content
The Outcome - $155 million in incremental revenues
- 15,000 qualified sales leads were generated just in FY 2013 with a follow up rate of 73%. These targets converted to opportunities delivered $33.5 million in sourced pipeline revenue
- Overall, the estimated contribution of improved customer acquisition and engagement was $155 million
- Improved collaboration between Marketing, Sales and the Business units
- Though the initial program was launched in North America, given its success, it is being expanded globally to new regions