SOCIAL CRM by ProQuest


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									                                                                                                                       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.

           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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