Social CRM – A Fad or the Future?
The concept of Customer Relationship Management system has been around for more than a decade now. Many organizations, regardless of their size, have successfully implemented this system in their IT infrastructure. One of the best aspects of a successful CRM is its flexibility and its ability to change according to changing requirements.
While everyone was starting to get comfortable with a CRM as a basic business component, people from the IT world threw yet another term at us – the Social CRM.
The problem with social CRM is the same as it is with any new concept arriving from the tech world to the business world. While many organizations go for it without second thoughts, many take their time to evaluate its success and value. Then, there are those who outright reject it as a fad unless it too becomes a necessity for business survival. So, is Social CRM one of the fads that just rise and disappear like a tide or is it really an innovation that would become a necessity? Let us find out.
What Exactly is a Social CRM?
A social CRM is basically a CRM with an added social feature. There is simply no doubt regarding the role social media has played in enhancing the relationship between businesses and consumer. It gives businesses an insight into customer’s demands, opinions, and changing behavior. This is precisely what the CRM does, except that social media facilitates two-way communication.
It is a chance for businesses to connect on a personal level.
The combined power of social media and CRM enables businesses to listen to their customers and engage in a productive communication. As a result, you can base your marketing and sales strategy on a more customer-centric data.
Does It Really Make a Difference?
Does your business have a social media presence? If not, then understanding the impact of Social CRM can get a little confusing. However, we will try to use facts and numbers to make a point here.
According to a social media study conducted a few years ago, 93 percent of the consumers in the US preferred brands that have a social media presence. 60 percent of the American consumers regularly interact with their favorite brands and companies on social media. This communication is what builds their personal experience with the brand. Almost all marketing experts unanimously agree that personal experience is the most influential factor that helps consumers decide which company they wish to do business with.
So, the answer to the question is – yes, it definitely makes a difference. The difference is in the way consumers are making a decision. The whole concept of CRM, therefore, is about evolving with the changing customer behaviors in order to meet their expectations and demands.
Will It Work for Your Business?
The beauty of social media is the way it is equally beneficial for all kinds of business regardless of their size and marketing budget. The success of CRM, however, depends on the way the system is integrated within the organization and how the social data is collected, analyzed, and utilized by the system and people.