Web 2.0 delivers Social CRM to transform ways of business engagement
By Hina Naz
According to the contemporary business trend, we are witnessing the exponential growth of Web 2.0 (social networking technologies) and their application in business environment to transform business engagements. It seems that social CRM is the future of customer relationship that incorporates social media and web 2.0 components to yield effective customer interactions. Within the Social CRM space, there are many types of solutions, each having their own flavor and meeting different business needs.
Why my organizational need Social CRM?
Businesses belonging to all sizes and organizations can take benefit from social CRM solutions to improvise their relationship management. The demand of social networking sites and increasing users are the big testament. Traditional CRM approach focus on contact management approach, process centric functions, provide periodic connection to customers, manage simple transaction and ensure well defined channels. In contrast to Social CRM, it focuses on community management approach, conversation centric function, provides sustainable customer engagement, modeled complex relationship and ensures dynamic and evolving channels. This contrast shows big transformation from traditional concept to socially developed concept.
According to the Adam Sarner, research director at Gartner, “with spending on social applications to help sales, marketing and customer service processes expected to surpass $1billion worldwide this year, the loudest hype around social CRM is over, and organizations are rolling up their sleeves and getting down to business. While adoption has been highest among business-to-consumer (B2C) type organizations, business to business companies are now aggressively investing in social. By year-end 2013, B2B organizations using social CRM applications will represent 25 percent of all projects worldwide, which is an increase from fewer than 10 percent in 2011”.
Potential Benefits of Social CRM
Social CRM is a philosophy & a business strategy, supported by a various technology platform, workflows, business rules, processes & social characteristics, specifically designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted & transparent business environment. It offers significant benefits to strengthen your organizational eco-system.
According to the research and best practices:
● Social CRM improves Sales and provide insight to sales team to analyze social media data for more relevant information about leads and customers.
● It improves customer satisfaction.
● Improves market reputation.
● It creates a perception of the company as futuristic and forward-looking.
● It led to provide effective communication and reduce time to respond for problem resolution.
● It improves the processes of feedback.
● It allows marketing departments to connect with customers in the buying process through conversation monitoring, and by getting better insight into sentiment, behavior, and effectiveness of outreach initiatives and marketing campaigns.
Social CRM value proposition increases with social tools and techniques that provide an insightful data, profiles and an experience map to analyze customers channel in more significant way.
Develop winning Social CRM Strategy
To develop a winning social CRM (SCRM) strategy, one you needs to focus on specifics of the social media eco system to find potential customers, time and resources. Effective customer engagement strategy aligns successful support of social CRM tools and processes. It mutually derived benefit planned from the beginning. To fully engage customers and to increase the chances of success with B2B or B2C customers, both the customers and the employees feel that the tools are integral to the effort.
A comprehensive effective Social CRM strategy requires knowledge, experience and guts to induct in market using social tools. Mostly CRM practitioners endorses the use of imagination to maintain a winning strategy that how the emerging channels of customer communication can be attained by using cost effective and revenue generating ways.
Strategy to choose Social CRM
Social CRM provides fully integrated solutions to dynamically automate customer engagement processes via social media to improvise your business PR and to enhance sales revenues.
How to choose social CRM is all about application of techniques, imagination and knowledge.
Social CRM Software comes in all sizes that cater all industries. What will be right for your business depends upon the ability to connect with people using free or inexpensive means, the ability to craft a message that responds directly to what customer challenges are and the ability to find business folks using social network.
Here are some key points to choose SCRM:
Invest for SCRM Software and solutions
Several SCRM software solutions are commercially available that offer significant functionalities in a multiple per month rates that start from USD 9 – 499.
Obtain User friendly SCRM solutions to capture market intention
As we talked earlier that social CRM offers community management support by integrating all employees interaction. So choose user friendly solution and get immediate result as per your requirement.
Social CRM Analytics
Social CRM Analytics gives means to social network data that only valuable if you can analyze it and make it actionable. SCRM analytics monitor data and deliver insight about popular content, search keywords. Some programs also offer sentiment and behavioral analysis which can be invaluable to marketers.
Brand Monitoring Solutions
Social CRM solutions can monitor a business data and able to track conversation related to abrand or business. It can lead the form of sentiments tracking via third-party sites (like blogs and reviews) or could be a internal contributions, and even opinions expressed in customer service/support calls.
According to the current trend of Social CRM which transforming ways of customer engagement, it’s also recommended to audit Social CRM in order to quantify data of reputation management. In the same way, social CRM strategy should also be verified on an ongoing basis. As social environment is constantly changing in terms of technology so it also recommended to reviewing new techniques and their implementation in an existing strategy to make the system more appropriate and fully functional.