How deep is your social data going into your organization?
Rapidly becoming a business necessity, social CRM strategy development and implementation can be a daunting task. However, today’s consumers are demanding that companies engage with them through their preferred channels and businesses choosing to do otherwise will be left in the dust. Not just a begrudged necessity, customer network engagement represents a powerful opportunity for any business with a well-planned social CRM strategy. Improved intelligence resulting from such engagement can be utilized in important ways to improve profitability and customer retention.
What is Social CRM?
The term ‘social CRM’ refers both to the strategy and the process whereby a company interacts with its target market through social channels, gathers intelligence such interactions and integrates that intelligence with other business processes to improve business strategy on all fronts affecting the end consumer – customer service, product development, marketing, supply chain management and more. Social CRM enables a company to observe what consumers are doing and saying in relation to its brand and then react to improve customer experiences.
Marketing Benefits:
- Connect with your customers
- Identify trends and opportunities
- Identify your customer advocates
- Develop tailored messages
Product Innovation Benefits:
- Identify opportunities and obstacles ahead of time
- Lower product development cost
- Build something that your clients want
Customer Support Benefits:
- Reduce support costs
- Deliver faster customer service
- Enable customers to help each other
- Convert key conversations into a knowledge base
