Social Media and Crm

SOCIAL MEDIA AND CRM
SUBJECT: BUILDING CUSTOMER RELATIONSHIP

NATTIDA KRANCOMYEE, 13234371 MATEJ SLIVONIK, 13228484 NANTACHAI TANGWIBOONPANICH (BOM), 13121680

OCTOBER 2012

1 SOCIAL MEDIA ........................................................................................................ 3 2 RELATIONSHIP BETWEEN SOCIAL MEDIA AND CRM ................................... 4 3 TYPE AND BREADTH OF SOCIAL MEDIA .......................................................... 6 4 SOCIAL MEDIA STRATEGY ................................................................................ 12 4.1 DEVELOPING SOCIAL MEDIA STRATEGY IN THREE STEPS ........................................................ 13 1. Listen or “monitoring” (Observe and Measure) ..................................................... 13 2. Respond (Engage and Add value) ........................................................................... 14 3. Drive (Product content, Ask for opinions and Turn fans into advocates) ............... 15 5 HOW COMPANIES BUDGET FOR SOCIAL MEDIA .......................................... 16 6 MEASURING SOCIAL MEDIA SUCCESS IN 5 STEPS ....................................................... 19 1. IDENTIFIED AND ALIGN OBJECTIVES .......................................................................................... 19 2. MEASURE BRAND AWARENESS, ATTENTION, AND REACH ........................................................... 19 3. MEASURE CONVERSIONS AND SALES ....................................................................................... 21 4.TRACK AND MEASURE SOCIAL MEDIA LEADS ............................................................................. 22 5. MEASURE COST SAVING ....................................................................................................... 23 6.1 TOOLS FOR DATA COLLECTING AND MEASURING ................................................................. 24

1 Social Media
According to David Meerman Scott (2007), social media is described as a tool to share ideas, content, thoughts, and even entire relationships online. Social media differs from so-called 'mainstream media ' in a way that anyone can create, comment, and add any content. Social media can take the form of text, audio, video, images, and communities. Companies in the social media space create tools and technologies such as blogging software, podcast tools, wiki software, message boards, virtual communities, and networking tools. In other words, social media is a unique and relatively recent set of tools for communicating, collecting, spreading and sharing information. Using social media does not require any special experience or skills, therefore, every company can provide it and, more importantly, they can do it with minimal costs. Social media is mostly designed to be so simple and intuitive that even technically non-educated people can easily use it every day. Another fact is that human beings have always tended to integrate, to share their problems and successes and social media is just another tool, which helps them to make it happen (Safko, 2012). Examples of widely used social media: • • • • • • Twitter Facebook LinkedIn YouTube Yelp My Space CRM and Social Media 3

2 Relationship between Social Media and CRM
Millions of people use social media every day to find a product or service or to collect information about these. Social media is therefore becoming one of the most important and powerful tools for communicating with customers and as a result, companies cannot afford to ignore social media at all (O’Neill, 2010). It is essential for all companies to keep up with the times and social media should therefore play a vital role in every modern marketing strategy. As a part of Customer Relationship Management (CRM), social media should be used as a mediator between a company and customers as it helps to establish a dialogue with customers. Hence, it is often used as an initiator of building customer relationship. Not only can it initiate the cooperation easily and with minimal costs but it is also becoming a more preferable way of providing feedback and complaints. Thus, adding social media to marketing strategy brings advantages not only for a company but, more importantly, for its customers (O’Neill, 2010). Today’s CRM is all about conversations between customers and companies. In this relationship, social media should be considered a tool, which converts these conversations into sales. Once a company has an online presence, customers are more likely to join the conversation and share their opinions and attitudes. As Safko states in his book The Social Media Bible (2012), no longer do customers trust corporate commercials. They are exhausted by receiving the same messages. On the other hand, customers tend to spend much more time to gather new experiences from conversations with people they know and they can trust and social media provide them space for this word of mouth marketing. Following this approach, companies should infiltrate into these conversations because only in doing so they can understand 4 CRM and Social Media

entirely customers’ needs and wants. Knowing these, they are able to provide appropriate services or products. Furthermore, the company can easily gain new data and information about its customers and in doing so, marketers of the company become well acquainted with their customers (Saracino, 2012). As mentioned above, social media can be used as a very powerful tool for businesses. However, the important point is how to use social media effectively to increase business sales or to ensure customers will provide their feedback through this media. According to Mayo-Smith (2010), social media should be viewed as a business online database of its customers. With this database, managers and marketers are able to, firstly, identify profitable customers and then address them. Moreover, this kind of database does not require any additional as well as being very simple to maintain such a database. To conclude, social media is a necessary part of marketing strategy. Using social media appropriately and effectively helps companies to achieve higher sales and establish a stable relationship between companies and customers, which is mutually beneficial.

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3 Type and breadth of Social Media
At this period, indicating the breadth of social media is hard to be clarified. Social media is described as online communities where people can have a conversation and interact with each other. The dramatically increasing in the number of Internet users can result in news spreading rapidly. To illustrate, a message can be sent to thousands or even millions of people in just a few seconds. Therefore, it is hard to limit the breadth of social media correctly. Also the type of social media is difficult to be separated clearly due to its little differences in function and objective. However, according to Lon Safko (2012), social media can be categorized into main 17 different types: 1. E-mail E-mail is one of the oldest forms of digital social media, which refers to the form of sending and receiving digital messages through online network. Capabilities of e-mail are that they are fast, easy, and almost free. These are the important reasons why most organizations use e-mail in many ways from answering questions from customers to advertising and surveying customers’ opinions of their products and services. 2. Web Pages Web pages are high in potential. They cover almost every activity that a person can do online: advertising, communicating, searching for particular items or data, buying, and selling products or services. A company can create its own page and put the information of its products and services on the web page that can benefit customer’s awareness and brand understanding.

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3. The Internet Forum A forum is an application of a website that provides an online community for a particular subject of discussion. A forum is used by a group of members and moderators who monitor the conversations posted by all members, to make sure that the conversations follow the rules of each forum. Companies use a forum as a space for informing new promotions, or a space for customers to leave their comments and questions for companies’ staff to answer. 4. Social Networking The history of social networking started since humans knew how to live and work as a team, and as teamwork, they had to communicate to each other. In other words, social media is the trusted network that is created among a group of people who share information with each other. However, in the current time, when the online networking has been created, people tend to interact through online social sites to connect post, comment, share and educate between their peers. Therefore, social networking is an online community where people can share their ideas for different purposes through social network sites such as Facebook, Twitter, LinkedIn and Google+. 5. Photo Sharing The idea of photo sharing started when people want to capture special and memorable events or moments and emotions for sharing it with others. With skilful digital cameras and easier access to the Internet in most areas, uploading photos online through photo sharing sites such as Google Images, Flickr, Photobucket, Pinterest, and Instagram, is very quick and easy processes. Besides, not only among private CRM and Social Media 7

groups of friends but also big companies tend to use photo-sharing sites for business purposes. For example, Instagram is one of the most popular photo sharing sites with millions of members. Therefore, many big companies promote their products by posting their products photos on Instagram in order to increase the number of sales. 6. Audio Sharing Approximately, more than 56 million people subscribe to podcasts (audios for iPods) through portable music-playing devices like iPods to bring their favourite music everywhere. Podcasting becomes more wide spread in both business and private purposes. For example, people can record their audio and share it on audio filesharing sites such as SoundCloud.com. Music companies can put their podcasts on iTunes for marketing purposes. 7. Video Sharing As same as audios, digital playback devices like iPods can run video files on it thus videos are also included in podcasts. People love watching videos because it can provide more engagement than only looking at photos, or listening to audios. There are many video sharing-sites such as YouTube, Vimeo, and iMemories where people and companies can upload their video contents and share it with many others around the world. 8. Blogs The word ‘Blog’ comes from ‘Web Log’, which is simply referred as online journal. Normally, blogs are maintained by individual on a particular subject. Aside from texts, the contents that are posted on blogs may contain photos, videos, and audios. Most blogs have search engine application on them for users to find a specific topic. 8 CRM and Social Media

An enterprise can use a web blog in order to communicate and interact with customers or its employees. The well-known blogging sites are such as Blogger, Window Live Spaces, and Wordpress. 9. Microblogging Microblogging is quite similar to blogs with the main differences that are the length of the content and the real-time nature of the content (Scott and Jacka, 2011). Generally, the length of blogging is longer than 200 words while there are a few sentences up to only 140 words for microblogging. Moreover, microblogging is normally used for posting status or events updates in the current time. Some well-known microblogging sites are Twitter, TypePad, SocialText, and Tumblr. 10. Livecasting Livecasting is a form of live radio or television online, where people can listen to radio or watching television channels online. Also it can even provide people to have their own radio or television shows online for free. Companies can use this platform for advertising their products or services through Internet radio stations. 11. Virtual Worlds Virtual world is an internet-based artificial environment where people can create their avatar and interact with others in the online world. For instance, a very well known virtual world is Second Life. People can create their unique avatar and control it to play mini games or socialize with other online users in the 3D-environment that provide 360-degree vision. Not only for fun but virtual world sites such as Second Life can make real money out of it. To illustrate, in Second Life people can buy or sell their items with others by using real cash through PayPal accounts or credit cards. CRM and Social Media 9

12. Gaming This type of social media is also known as the MMORPG (Massively Multiplayer Online Role-Playing Game). Similarly to virtual worlds, MMORPG is the online game communities where people can create, control and improve their fictional characters through stimulated actions or events in fantasy virtual worlds. One of the most famous MMORPGs is called ‘The World of War Craft’ with millions of players around the world. Companies or enterprises can make money from MMORPG by selling items in real cash. 13. RSS and Aggregators RSS or Real Simple Syndication is a way to send out news feed automatically from the senders to others who subscribe to the senders’ content updating. The notification will be sent directly through the subscribers’ email or mobile phone. Similarly, aggregator is a program or website that will search the update of content that users have subscribed and provide those new update information to the users. With these applications people do not have to search the content’s update themselves, the all updates will come to them itself. Moreover, companies can keep in touch with their customers by the applications. 14. Search Engine Optimization Searching website is a webpage where people can put their specific keywords to reach the websites, blogs, articles, information or news that relevant to the keywords. Since websites have become a fundamental part of marketing, search engine sites such as Google and Yahoo! become extremely important, because every company has to make sure that its website is easy for its customers to access. 10 CRM and Social Media

15. Mobile Since the number of mobile phone users have been increasing rapidly in these past several years, it is essential that companies have to catch up with it by providing mobile phone web access. For example, because nowadays people do most of transactions through their mobile phone so many social media such as Facebook, Twitter, Instagram, YouTube, Skype, PayPal, eBay and many websites and blogs have been developed their mobile phone version. 16. Interpersonal Interpersonal refers to a real-time communicating among group of people through software program or applications. For instance, people can communicate to other members in their group of community through message chatting programs or realtime video chatting applications such as Window Media Messenger, Skype, Google Talk, iChat, Yahoo! Messenger, Vid HD, VSee and Vidyo. Also companies can use these type of platforms to contact with customers for feedback and complaints as same as call centre, especially Skype which has wide range of users. 17. Wiki Wiki is a kind of website that allows all users to create and edit any content on its space. The contents can be any information about anything. The objective of wiki site is to provide rough information and idea in variety of content. However, wiki sites are crafted for only casual purposes not academic. The most famous wiki site is Wikipedia.

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4 Social media strategy
Social CRM is very different from the traditional CRM. Social CRM is based on a company’s ability to meet customer expectation as well as meet the objectives of its own business plan. The ultimate purpose of Social CRM is to create customer engagement and interaction rather than customer management. Currently, almost every firm has involved itself in the market place through social media. However, not all firms can make profit out of using social media in terms of a marketing tool. Understanding social media strategy thorough and knowing how to use it correctly is the key to significant improvement in relationship with customers. Social media tools such as Facebook, Twitter, Blogs and Wikis are tools for expressing, connecting, and collaborating. Social media can also be use across all customer touch points including Marketing, Sales, and Service/Support. Businesses can use social media tools to market their target audience by providing them information and benefit of the products/services. This will then lead these potential customers to a purchase stage in order to make a sale. Social media tools can also be useful in services stage as customers can express their thought about the products/services. Social media enable customers to ask question that can be seen by other members of the group and allows the company to reply quickly (Mileysky, 2012).

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Using social media such as Facebook, Twitter, and Blog gives businesses a number of advantages: • • • • • Cost efficiency Broader visibility Increased consumer trust Pulse of the market Self-made community

The main objective of social media varies from industry to industry, business to business. For example, Social media can be use to increase brand credibility, increase brand awareness, increase number of sales, or promote events.

4.1 Developing Social Media Strategy in three steps

1. Listen or “monitoring” (Observe and Measure)
In this stage of developing Social Media Strategy is all about listening. Businesses need to identify where the conversations are taking place (i.e. Facebook, Twitter, Blog, and Etc.) and begin listening to what being said about the brand. Listening allows business to identify different groups of people who are participants in the conversations and engage with them (Cribbes, 2012). Businesses can use tools such as Twitter search, Blogsearch, and Google alert to listen and monitor to listen to these conversations.

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Google Alert offers businesses the ability to make a specific query to monitor. As the Google search engine searches through a web page index with search terms required by the user, if these terms were found the result is sent to enquirer. It could be regularly as once per month, once per week, once per day, or in real time. There are monitoring services company that track conversations and analyse influence such as Radian6, Socialradar, and Buzznumbers where it collect all the data you needs and collaborate it together in one dashboard.

2. Respond (Engage and Add value)
In the second stage, business will now register in spaces such as Facebook, Blog, or Twitter, which is appropriate for their target market usage. Importantly in this stage, the organisation must represent itself as human and use non-corporate standard language in the conversation. According to Karjaluoto (2009), people speak human to each other, organisations speak corporate to them. Updating or posting new content to social media site must be carefully managed as what already on the Internet is hard to remove (Cribbes, 2012). Business must also focuses on both content that will be updated, for example updating content should be relevance to the existing conversation, and in terms people or followers who will see them.

In large organisations, cross-organisational communication must be implemented to allow staffs’ interaction between different departments in large organisation in order to deliver the accurate information to the customer. In contrast, this may not be necessary for smaller organisations, as one may know everything about the business.

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3. Drive (Product content, Ask for opinions and Turn fans into advocates)
Consumers are most likely to communicate and interact with company if they believe it is benefiting them. These benefits could be in a form of discount coupons, or inside information. According to IBM Institute for Business value (2011), more than 53 % of consumer use social media to find information, recommendations, opinions, and reviews from friends, experts, and peer reviews online in order to make a decision. Companies may create a corporate blog to provide industry insight about themselves and others who are interested and want to know what is happening in and around a particular industry (Cribbes, 2012). Once a user accessed to the information they need, it can influence their purchase decision-making and turn in to customer. In short, following these social media strategies will enhance opportunities for many businesses to become connected with their target customers and keep up to date with what is going on around their businesses. These strategies in a long term will also help small to medium businesses build reputation and creditability for the brand efficiently.

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5 How companies budget for social media
According to the Aberdeen Group report (2011), 68 % of the companies performing marketing excellence have been increasing a budget for social media each year since 2009. However, most of these companies admitted that it was very complicated and in few cases even impossible, to actually measure it. This could mean that companies spend regularly higher amounts for social media, but they are not able to exactly identify for what. This little example accurately reflects the complexity and difficulty of measuring and preparing a budget for social media. There are no precise instructions how to correctly calculate and prepare such a budget. However, this part of the assignment is focused on the possibilities of constructing a budget for social media. Although it may seem that a budget for social media should be very low as using social media is mostly free of cost, according to the Nielsen Study1 (2011), 72 % of companies participated in this study spend 10% and more of their entire marketing budgets just for social media activities. Salaries of employees operating and managing social media for companies represent the majority of those costs. One could therefore state that the only expenditure related to social media, which companies have to pay is the work time of their employees (Bough & Miletsky, 2010). Many marketers therefore argue that the calculation of Return on Investment (ROI) of social media campaign is impossible since salaries of employees cannot be considered an investment. However, according to Powell et al., (2011), this money should be viewed as an investment in people and technology they use and should be thus included in the final amount of the investment. Taking all above into consideration, evaluation of all
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Nielsen Community Social Media Business Benchmarking Study

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costs required for a social media campaign seems to be an appropriate way how to calculate a budget for social media. All those costs must however be strictly separated from other marketing activities in order to achieve the most accurate evaluation. To effectively evaluate all costs related to social media campaign, following 4 dimensions have to be consider (Powell et al., 2011): 1. Set up and preparation of the infrastructure - this would include all initial costs required to set up the social media presence, (included both internal and external agency costs), for instance: • • • • Investments in the technology Writing appropriate manual for social media Getting approval from chiefs Acquiring appropriate experts for operating quality social media campaign

A majority of these costs are relatively insignificant as many social media accounts are free of cost. However, companies have to ensure their online presence is should be unique and designed to address the right customers. This would require a creative design effort, which has to be paid appropriately. These expenditures could be viewed as a one-time investment as once the company has an online social media presence, these costs decline sharply. 2. Ongoing costs - all costs necessary to keep and operate the social media presence such as hosting fees, salaries of employees monitoring and contributing the content to social media, establishing a dialog with customers, receiving feedback. Companies should also have administrator providing

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technical support. All these running costs have to be separated from other marketing costs. 3. Campaign level - within this dimension, it is necessary to evaluate all costs associated with the entire campaign. This includes: starting, designing, executing, producing and completing costs of social media campaign. Each campaign should therefore have a strict framework, which would contain the exact determination of a beginning and an end. 4. Risk factors – Each company setting up social media presence as a tool for communication should be aware of all potential risks. Not only can social media campaign bring a lot of benefits but it also may cause many difficulties. As many social media accounts are easily accessible, there is a high probability of negative sentiment. Companies have to be prepared for this situation and respond appropriately otherwise the cost impact can be much more painful. With all these costs, marketers, with a support of financial department, should be now able to measure and evaluate the amount required to create a social media campaign with all its components. They can also easily compare two past campaigns’ costs or they can more accurately estimate the potential cost for future campaigns, which might be a guideline for companies how to budget for social media.

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6 Measuring social media success in 5 steps 1. Identified and align objectives
First of all, identify the company objectives and align them with a suitable metric. Businesses can use SMART methodology to create a useable and realistic object. Specific: In order to have an effective objective. It must be specific, for example as “to increase brand awareness by 5%” or “to increase revenue by 3%, within the specific time period using Social media. Measurable: In order t use these metric in the review process, to see the effectiveness. By having a specific objective, to determine whether the results were met. Achievable: The objective must also be achievable and not over realistic, for exam to increase sales by 100% in 6 months. Realistic: businesses must have resources and tools in order for objectives to be achievable. Timed: Setting a specific time frame with the objective. It allows businesses to effectively measure the success of the campaign.

2. Measure Brand Awareness, Attention, and Reach
Social media allow consumer to share information, opinion, recommendation, and review about the product or services to their network easily. Businesses also have an opportunity to establish a direct relationship with their customers using Social media CRM and Social Media 1 9

platform. Importantly, there are tools and ways to measure how effectiveness of these relationship and conversation. Awareness, attention, and reach are some key metric use to measure the effectiveness (Bart. 2012). Reach gives businesses a estimate number of potential audience. This metric is important for planning marketing activities to determine which social media channel is the most effective for delivery message (Lovett, J. 2011). To get the best result, businesses should measure “reach” consistently to create benchmark and set expectation. Calculation: Potential Reach = Total Number of Audience ÷ Shared Network Audience Share of Conversation is a percentage of the “talks” about the brand among competitors in social media channel. It should be calculate regularly and perform historical comparison over the given time period (Lovett, J. 2011). When someone talks about the particular brand (Nelson, 2012). The brand will gain a mindshare and more like potential customer will choose that brand over the other in the market. Calculation: The Brand “talks” ÷ Total number of ”Talks” (Brand + Competitors)

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3. Measure Conversions and Sales
Conversion is the number of people that take action once they exposure to the company’s campaign or other concept. An action could be in form of Click, Like, Filling out a form, or Make purchase. This is depending on the company’s goal and objective. Correlation approach collects all sales and social media referral data and uses them to compare with the social media activities. The result from this approach gives businesses a correlation between social media activities and sales, for example if number of activities on social media, or number of followers increased along with sales, this then indicate the positive correlation between social initiative and sales (Nelson, 2012).

Businesses can also determine Value of a Facebook like (fans) in dollar term. The Value of Facebook like is the revenue generated from Facebook page. Revenue originated from Facebook traffic can be measure by building a landing pages within the company website that accessible from Facebook only. The number of traffic between landing page and Facebook and be tracked by software such as Google analytics. Calculation: $ Value of Facebook like = Total Revenue in a Month from Facebook traffic ÷ Total number of Likes

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Direct-Response Sales lets business to calculate the true ROI. The measure the direct respond sales, businesses must provide a unique way for consumer to make a purchase exclusively to Social media such as Promotional code, Coupons that only available only on social media channel. Finally, Social media ROI can be calculate using the following formula (Nelson, 2012). Calculation: Social media ROI = [(Sales – Cost) ÷ cost] x 100

4.Track and Measure Social Media Leads
Businesses can mange and keep track of its prospect using both spread sheet and a CRM system, for example www.Saleforce.com. Allow businesses to track the lead stage automatically; Businesses need to define the lead source of social media channel. Businesses should record all leads traffics includes offline events, blog, website, and content download (Nelson, 2012). Then, businesses can see how many leads the social media can generate each month. The percentage of social media channel can also be identified.

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5. Measure Cost Saving
According to Horngran (2010), saving cost to increase revenue is much easier than trying to increase sales. Social media can have an important role in cost saving in customer service area. In customer service areas, it is important to know how must it cost to solve an issue by both traditional channel and Social media. This can be calculate by determine the total involved in solving or respond customers problem, cost may be include, software, hardware, and salary. Then, divide the total cost by an average number of issues handled per day (Nelson, 2012). Calculation: Cost per resolution ÷ Average number of issue handle daily Company should also keep a tracking record of how much time it takes to solve an issue. In order to identified the area of improvement. Calculation: Time spent resolving issues = Total number of hours used to solve issue in a month ÷ Number of issue solved in a month In conclusion, there is no perfect way to measure each initiative, however, there are several metric available. Applies those metric accordingly to the company’s objective with the right data will give the company the effective result.

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6.1 Tools for Data Collecting and Measuring
Many
of the data collection and measurement can be done using third party vendor such as lithium, Radian6, Facebook “insight”, and Google analytic. Those vendors offer many powerful features and component for social media measurement. Table below shown the features offered by each vendor. As shown in Figure 6.1

Figure 6.1

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Facebook “insights” is free software available to everyone. It allows business to see the total number of likes, number of follow, number of activities about the brand, and total reach. As shown in Figure 6.2

Figure 6.2 In more detail, “insights” will break down the demographics and locations of people whose “Likes” the page or post. Businesses are then able just a just the content accordingly to different fan group. The “Talk about this” section provides information on who is mentioning and talking about your page. As shown in Figure 6.3

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Figure 6.3 As free analytic software, Facebook “insight” gives businesses significant useful information about company’s Facebook page. To get the most out of those given data, business must create something meaningful with it.

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References Bart, B. (2012). 7 Essential equations for measuring Media success. Retrieved from http://www.radian6.com/blog/2012/04/7-essential-equations-for-measuringsocial-media-success/ Bough, A. S., Miletsky, J. I. (2010). Perspectives on social media marketing. (p. 75). Boston, MA USA: Muska/Lipman. Retrieved from http://site.ebrary.com/lib/bond/docDetail.action?docID=10412049&p00=pers pectives social media marketing Cribbes, B. (2012). Social media strategy. Bond University, Queensland, Australia. Heller, C. (2011). From social media to Social CRM: What customer want. IBM Institute for Business Value Horngren, C. (2010). Introduction to Management Accounting (Chapters 1 -14), 15th Edition, Pearson Prentice-Hall, NJ. Lovett, J. (2011). Social media metrics secrets: do what you never thought possible with social media metrics. Indianapolis, IN: Wiley Marketers increasing social media budgets. (2009). B to B, 94(4), 6-6. Aberdeen Group. Retrieved from http://search.proquest.com/docview/209379470?accountid=26503 Mayo-Smith, D. (2010). What social media REALLY IS. NZ Business, 24(4), 63-63. Miletsky, J. (2010). Principles of Internet marketing: new tools and methods for Web developers. Boston, Mass. ; United Kingdom. CRM and Social Media 2 7

Nelson, A. (2012). Marketing cloud: 5 steps to effective social media measurement. Radian6. Retrieved from www.radian6.com O’Neill, M. (2010). Social Media & CRM or Why You Can’t Ignore Social Media Anymore [Infographic]. Social Times. Retrieved September 24, 2012 from http://socialtimes.com/social-crm-infographic_b30641 Powell, G., Groves, S., & Dimos, J. (2011). Roi of social media : How to improve the return on your social marketing investment. (p. 230). Hoboken NJ: Wiley Retrieved from http://site.ebrary.com/lib/bond/docDetail.action Safko, L. (2012). Social media bible: Tactics, tools & strategies for business success. (3 ed.). Hoboken, NJ: John Wiley & Sons, Inc. Sandev, M. (2011). Social media spend over 10% of mix. B & T Weekly, Retrieved from http://search.proquest.com/docview/929924832?accountid=26503 Saracino, A. (2012). Why You’re Falling If You Ignore Social In CRM. Virablog. Retrieved September 24, 2012 from http://www.viralblog.com/socialcrm/why-youre-failing-if-you-ignore-social-in-crm/ Scott, D. (2007). Social media debate. EContent, 30(10), 64. Scott, P. R., Jacka, J. M., & EBL Ebook Library. (2011). Auditing social media: A governance and risk guide. Hoboken: John Wiley & Sons, Inc.

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References: Bart, B. (2012). 7 Essential equations for measuring Media success. Retrieved from http://www.radian6.com/blog/2012/04/7-essential-equations-for-measuringsocial-media-success/ Bough, A. S., Miletsky, J. I. (2010). Perspectives on social media marketing. (p. 75). Boston, MA USA: Muska/Lipman. Retrieved from http://site.ebrary.com/lib/bond/docDetail.action?docID=10412049&p00=pers pectives social media marketing Cribbes, B. (2012). Social media strategy. Bond University, Queensland, Australia. Heller, C. (2011). From social media to Social CRM: What customer want. IBM Institute for Business Value Horngren, C. (2010). Introduction to Management Accounting (Chapters 1 -14), 15th Edition, Pearson Prentice-Hall, NJ. Lovett, J. (2011). Social media metrics secrets: do what you never thought possible with social media metrics. Indianapolis, IN: Wiley Marketers increasing social media budgets. (2009). B to B, 94(4), 6-6. Aberdeen Group. Retrieved from http://search.proquest.com/docview/209379470?accountid=26503 Mayo-Smith, D. (2010). What social media REALLY IS. NZ Business, 24(4), 63-63. Miletsky, J. (2010). Principles of Internet marketing: new tools and methods for Web developers. Boston, Mass. ; United Kingdom. CRM  and  Social  Media   2 7 Nelson, A. (2012). Marketing cloud: 5 steps to effective social media measurement. Radian6. Retrieved from www.radian6.com O’Neill, M. (2010). Social Media & CRM or Why You Can’t Ignore Social Media Anymore [Infographic]. Social Times. Retrieved September 24, 2012 from http://socialtimes.com/social-crm-infographic_b30641 Powell, G., Groves, S., & Dimos, J. (2011). Roi of social media : How to improve the return on your social marketing investment. (p. 230). Hoboken NJ: Wiley Retrieved from http://site.ebrary.com/lib/bond/docDetail.action Safko, L. (2012). Social media bible: Tactics, tools & strategies for business success. (3 ed.). Hoboken, NJ: John Wiley & Sons, Inc. Sandev, M. (2011). Social media spend over 10% of mix. B & T Weekly, Retrieved from http://search.proquest.com/docview/929924832?accountid=26503 Saracino, A. (2012). Why You’re Falling If You Ignore Social In CRM. Virablog. Retrieved September 24, 2012 from http://www.viralblog.com/socialcrm/why-youre-failing-if-you-ignore-social-in-crm/ Scott, D. (2007). Social media debate. EContent, 30(10), 64. Scott, P. R., Jacka, J. M., & EBL Ebook Library. (2011). Auditing social media: A governance and risk guide. Hoboken: John Wiley & Sons, Inc. 28 CRM and Social Media