Social MDM and Complex Sales

Social Master Data Management (Social MDM) is about linking the increasing trend of doing business via social media, using what we may call “systems of engagement”, with the traditional way of supporting business using what we call “systems of record”.

Doing social MDM is a natural consequence of adapting social CRM (Social Customer Relation Management). Many CRM solutions are supporting Business-to Business (B2B) activities helping with keeping track of what’s going on with a lot of contacts related to a business account within so called complex sales processes.

Traditional MDM in B2B environments has been much about a single view of the business account and the legal entity behind. As social CRM is much about the relations to the business contacts, the people side of business, we need a solid master data foundation behind the people being those contacts.

The same individual may in fact be an important influencer related to a range of business accounts being the legal entity with who you are aiming for a sales contract. You need a single view of that. So many sales contracts are based on a relation to a buyer moving from one business account to another. You need to be the winner in that game and the answer to that may very well be your ability to do better social MDM.

Social MDM adds a new external source of reference data to MDM solutions for B2B customer master data management. This new source is professional social network profiles where LinkedIn is the most known and used service around.

It is early days for social MDM solutions so it is quite exciting for me to work with designing the first kind of such solutions around the MDM edition of the instant Data Quality service.

Stay tuned for more news in this field on this blog in the times to come.

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