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TMCNet:  Social Media Can Help Enhance Customer Relationship Management, Reveals a Study Conducted by CRM Next

[December 20, 2012]

Social Media Can Help Enhance Customer Relationship Management, Reveals a Study Conducted by CRM Next

Noida, Dec 20, 2012 ( via COMTEX) -- Social Media is not just about vastly popular networks like LinkedIn, Twitter, or Facebook - it is about brands engaging in conversations. It is about people interacting live with companies, products and brands; gaining and giving insights; and being 'virtually' vocal about their 'likes' and dislikes. Social Media actually plays a very important role in enhancing customer relationship management in a number of ways and this has been revealed by a study conducted by CRMnext. Some realize it and some don't, but who is trusted by his target audience and consumers of his products and services.

Obviously, ignorance is not really bliss when it comes to social networking. Understanding these, several CRM software vendors are acquiring startups which empower businesses to deftly manage the growing number and variety of social media platforms.

It is however important for organizations to realize that real success lies not in revolutionary infrastructural amendments, but in important evolutionary ones. A key point to remember is that CRM users should not merely use this channel as an outbound marketing effort, but should literally "listen and have their eyes open" using social CRM applications. Doing so will facilitate intelligent information capture and significant reductions in customer service costs.

An annoying IVR system which causes frustrated and "agent desperate" customers may as well be labeled Customer Relationship 'Minimization'! What is forgotten is that CRM is all about reciprocal relationships based on 'trust' and not mere 'information'. When too much emphasis is laid on capturing and leveraging data, trust is naturally compromised upon. The biggest trouble with traditional CRM systems is that relationships are converted into rules and people into data, forgetting that an inanimate database can never match up to live assistance by a real person.

Emergence of Social Media Regardless of the fact that social media is a relatively recent development in the business world, it is becoming an increasingly vital aspect of sales and marketing efforts and also a stabilizing platform for client base development.

As of today, social media marketing is not just viewed as a passing phase, but is now perceived as a flexible, productive tool for better business opportunities and higher market exposure.

The 'Big Three' - Google plus, Facebook and Twitter have now become inseparable from any smart business strategy that forward-looking businesses incorporate in both traditional as well as digital market spaces.

Sales, Marketing and Social CRM mutuality In the current market scenario, social CRM is heavily encompassing the world of sales. According to Gartner, this industry is going to grow at the rate of 11% of all CRM by the end of 2012. The reason why social CRM is rapidly seeping into company plans and strategies is because it enables organizations to harness cost cutting opportunities by offering various channels to reach out to customers quickly and more effectively.

Amalgamation of Social Media with CRM Systems Social media merged with existing CRM systems in an intelligent manner can bring forth a plethora of advantages such as - Centralized management of social media contests, promotions, advertising and measurement Social media audience research and acquisition, content promotion and measurement tools Competitor insights from Facebook, Twitter, etc. directly delivered to dashboards Messages can be published on popular social networking websites quickly and easily Detailed, graphical and informative reports presented intra-company and also to stakeholders. For clients particular about reports and data, PDF and CSV exports are provided Team collaboration helps in campaign creation as a group, also campaign reach is increased Better tracking of ROI Businesses better equipped to monitor, manage and measure their reach across the various social media channels Higher business and market exposure Innovative and productive sales pitch Reduction in marketing expenditure Newer, better business collaborations Qualified sales leads, rise in conversion rates and won deals In due course, a shiny new generation of social applications is going to emerge. The learning curve is still developing for both companies and customers. The key is to strike the correct balance between traditional, SaaS and social CRM to reap the benefits.

About CRMnext CRMnext is a specialist CRM Software product company with focus on ultra-scalable installations. The CRMnext team has a proven track record of delivering High-Impact CRM solutions in their key practice vertical of Banking, Insurance, Media, and Telecom. Unlike commodity CRM, CRMnext has been widely recognized as a proponent of strategy driven implementations.

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