4ScreensMedia is about Customer Relationship Management and how the Internet, Television and Mobile technology can be leveraged to enhance the customer experience across the entire spectrum of brand touchpoints. Here are 12 developments that may play out in 2010.
1. Customer Relationship Management will incorporate social media – the customer’s channel – and become integral to the Marketing Mix. Like the self-serve kiosk, more business processes will be outsourced to customers as a result.
2. The CIO will play a key role in implementing enterprise social media platforms as technology & process serve to enable campaign execution.
3. Google will provide the cheapest and most used social media monitoring platform; like the long distance telco market, the service will be priced at or close to $0.00.
4. Management consultants will take their rightful place in provide social media guidance and integrate into CRM. They will design workable business processes, provide sound methodology and standards. Accountability will be more important than ROI. ROI metrics will draw from existing marketing mix to include CLV – Customer Lifetime Value at the aggregate level.
5. More social media monitoring companies will go out of business than will be acquired – the industry will segment into pure technology plays vs. value added business insight using white-label monitoring services. Some SMM companies will merge with marketing analytics providers. The most business value will be provided by SMM companies that specialize in industry verticals, sentiment analysis and human interpretation.
6. Proprietary monitoring capabilities will become the purvue of the largest Forbes Global 2000 firms and provide the best business applications such as integration with business analytics. This will dovetail into the creation of private label media networks and brand communities.
8. Predictive analytics and business intelligence will be the game changer – the Internet will be treated like a big data warehouse. Insight into consumer buying outcomes will be at the heart of this computing technology domain.
9. Location intelligence applications combined with data visualization and user information will become key elements in the business operations arsenal. Any business where geospatial location matters – transportation, retail, health, policing, municipal services – will take a great interest in these applications.
10. Social networks in general will not be profitable or be close to break even but overvalued by the markets. They will also be seriously compromised by identity theft, fraud, spam and security breaches.
11. Marketing research companies will finally understand that billions of consumer-generated comments related to the brand experience are worth incorporating into traditional research methods. All major players will align with or have their own monitoring or business intelligence capability.
Let’s check back in December 2010.
– Ted Morris