Social CRM is about companies attempting to get back into the conversations being controlled by the customer - listening and engaging to build trust and value. It also gives companies the opportunity to stimulate conversations with and between customers, and use these to build relationships sooner than would traditionally have taken place, managing a pipeline of opportunities more effectively and producing a higher return. Social CRM is an integral component of an overall CRM strategy.
guest editorial 05 social crm hyPe or Fundamental customer relationshiP management tool? Is social CRM an important business issue requiring attention, resources and investment … or a lot of hype tied in with social media hysteria? As brands go in search of their social media ROI, this seems to be a very reasonable question. I noted recently that there are 16,500 Twitter users who describe themselves as “social media experts.” A sure fire sign of a gold rush in a very confused marketplace. F or brand owners, the trick is to a pipeline of opportunities more effectively and social media channels compared with the distinguish between real value and fool’s producing a higher return. Social CRM is an deep strategic importance of having a social gold. We’ll take a look at how to do that integral component of an overall CRM strategy. business strategy to make your business for social CRM shortly, but let’s start by However, social CRM is also different in the relevant and competitive in the 21st century. understanding what social CRM is and where it’s sense that traditional CRM has been about Esteban argues that social CRM is much closer come from. Social CRM has emerged from the structuring and controlling data to manage to social business, sitting under the category of shifting balance of power between organizations relationships more effectively; by its very nature, strategically important initiatives that will directly and their customers. By now, we’re all familiar social CRM is unstructured and much more impact your revenue and profitability. with how social networks, blogs and communities difficult to categorize. If we revert back to our earlier have empowered people to easily and quickly acknowledgment that companies have connect with like-minded individuals and groups Strategic or Not? lost control of their customer relationships, to share mutual interests. The impact has been So, is social CRM a source of real business who could argue that this isn’t strategically to cut organizations out of the loop and lose value or simply fool’s gold? Breaking down relevant? As such, social CRM is profoundly control of the customer relationship. Consumers ‘social’ into several categories can be a very important. It is true that many companies have tasted the freedom to connect, share and hel
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