LONDON, Dec. 23, 2013: Reportbuyer.com
There is no single technology that enables Social CRM. Social CRM, like CRM in general, is a business strategy to help maximize profitability, rather than to accomplish a specific task, like call routing, or meet a particular requirement, like increasing sales team effectiveness or optimizing workforce availability. Instead companies can use a menu of applications and services to execute Social CRM programs, including analytics; social conversation monitoring and tracking; customer profile populating and updating; social network analysis (SNA); and social influence scoring.
The challenge for businesses is to make the journey from “hearing” and responding to customers’ social conversations, and marketing to them socially, to successfully incorporating social behavior into their broader CRM strategies and applications.
Key Social CRM Drivers
The biggest driver propelling social CRM is the rapid growth and widening popularity of social media. Many social media conversations involve interacting with companies. Customers are using social channels to relate their experiences with companies, and, to a small but growing extent, to interact directly with them. They are also engaging with other customers and companies on social community collaboration sites, which enable customers to build their social influence.
Demographic changes are a key force behind social media growth. The “Millennials” who became “social” in their teens and college are entering the workforce and becoming consumers and business buyers. Such is the power of this generational shift that social channels may well become the default for customer interaction; Frost & Sullivan believes that by 2020, non-social channels will be the ones that require investment justification.
At the same time, the growing use of smartphones and tablets is enabling people to access the social channel at their convenience.
The speed and spread of online customer comments now require the constant monitoring of social sites. Employees, including contact center agents and sales representatives, need to be alerted of these interactions, including complaints, “likes,” and even offhand references to the organization.