Social networking offers organizations a veritable gold mine of information about their customers and prospects – what they buy, what they don’t buy, how they view the companies they buy products from, how they compare competitors, what their interests are, what foods they like, how often they travel and where, what clubs they belong to, what universities and colleges they attended – you name it, accurate or not, it’s all there for the taking, and thanks to the explosive growth of social networking, there’s more information available every day.
These days, tech-savvy companies are using Web analytics solutions to scan the leading social networking Websites for every mention of the company name -- or its products or services. That’s mainly because, in today’s Web 2.0 world, customers can freely air their complaints about a company’s customer service, or its products, through any number of social networking websites, blogs, wikis, message boards or other channels. And if there’s one thing companies don’t want their customers to do is drop them and then tell their family and friends to stay away as well. How many times have we heard about a company immediately reaching out to a customer that just complained about a bad customer experience on Twitter, for the purpose of winning that customer back, perhaps through some incentive, or better yet getting them to amend their post?
By the same token, companies are increasingly using Web analytics to uncover new opportunities for their sales teams, in real time, as those opportunities emerge. InsideView, for example, offers a Web analytics tool called SalesView that acts almost like an online “divining rod” to help sales teams ferret out new sales leads. The service harnesses the data of more than 20,000 public Web sites, including the major social networks, as well as other public data sources, such as Reuters (News - Alert) and Securities and Exchange Commission filings. The system then takes all that data, packages it, analyzes it and then creates reports which sales teams can use to identify potential clients.
Now, InsideView’s social intelligence software has been integrated with NetSuite’s (News - Alert) cloud-based CRM software.
“InsideView for NetSuite
,” the two companies claim, is “the first social intelligence application to bring social media to both CRM and ERP, optimizing core business processes that are essential to driving the success or failure of every business.”
InsideView is a member of NetSuite's SuiteCloud Developer Network. The new application expands on the previously established partnership between the two companies.
The integration allows NetSuite users to have instant access to data harvested from emerging social media, such as Twitter, LinkedIn, Facebook, Jigsaw and NetProspex, as well as editorial sources such as Thomson (News - Alert) Reuters and Capital IQ (a Standard & Poor's Company), within NetSuite, thus empowering users to significantly improve business efficiencies across sales, marketing, billing, procurement and HR operations.
Built using NetSuite's SuiteCloud development platform, InsideView for NetSuite is reportedly the first social intelligence application delivered natively within NetSuite.
InsideView for NetSuite has a wide range of potential uses: Organizations can proactively monitor the financial health of customers and partners to assess payment risk and improve collections processes; leverage social media "buzz" to gauge suppliers' brand reputation, customer satisfaction, and service levels and assess supply chain risk; improve high-end selling through social and business connections to C-level executives; help sales professionals uncover new customer engagement opportunities faster with alerts on key business events; integrate social profile information to engage job candidates across multiple channels, including Facebook (News - Alert), LinkedIn, Twitter; and increase cross-enterprise productivity by tapping into accurate, relevant and timely business insights directly within the NetSuite user interface.
In addition to helping sales teams, the application can also be used to improve intelligence for back office operations. For example, billing/collections departments can automatically monitor financial events such as funding developments, analyst ratings, earnings calls, cost cutting, bankruptcies, etc. In addition the solution allows for the real-time prioritization of accounts and collections efforts, while relationship mining helps expedite billing issues.
For employees or departments in charge of procurement, the solution offers consolidated contact search, allowing for easier resolution of bidding, pricing, or payment issues and integrated competitor profiles help identify and evaluate other potential vendors.
The solution can even help HR departments in their recruiting efforts: Automated monitoring of talent acquisition opportunities across target companies and consolidated contact search assist in sourcing candidates by title, industry, company size, key event and specific competitors.
"InsideView is an excellent example of how a partner can leverage SuiteCloud to optimize business processes across the company," said Guido Haarmans, vice president, SuiteCloud Developer Network of NetSuite, in a release. "The social intelligence delivered by InsideView provides the tools for companies to significantly increase sales productivity, and improve billing, procurement and recruiting efforts for our customers."
"Our expanded partnership with NetSuite underscores the increasing relevance of social data throughout business operations," added Umberto Milletti, founder and chief executive officer of InsideView. "NetSuite is leading the charge by making social intelligence available to its entire user base to drive significant business efficiencies."
CRM software provider NetSuite made news last week when it announced that Kansas City-based distribution and light manufacturing company COMMCO had switched its business software from SAP (News - Alert) R/3 to NetSuite OneWorld in an effort to modernize its business operations and eliminate the high cost of maintaining and upgrading SAP's complex, on-premise software.
Patrick Barnard is a senior Web editor for TMCnet, covering call and contact center technologies. He also compiles and regularly contributes to TMCnet e-Newsletters in the areas of robotics, IT, M2M, OCS and customer interaction solutions. To read more of Patrick's articles, please visit his columnist page.
Edited by Patrick Barnard