Is it Time for Brands to Embrace Social CRM?

CIO Applications| Thursday, January 23, 2020

Enabling businesses to stay connected to customers via social channels and ultimately leading to increased sales and more satisfied customers, social CRM has become the new norm.

FREMONT, CA: There is a drastic shift occurring in the way business is being run. The traditional forms of customer management are slowly being phased out for an increasingly social and interactive approach. Innovative business models have formed from this rapidly evolving environment, and it is essential for businesses to stay on top of this paradigm. Among all the advancements, social CRM is the latest trend in the paradigm of customer relationship management. Social CRM takes the traditional CRM tool a step further by allowing data exchange in real-time.

With a social CRM platform, brands will be able to listen to what the customers have to say about the company's product and service and the improvements or developments needed. Social CRM will give brands the chance to develop products and services that their customers have been hoping to see.

The most common way the social CRM platform is being used is through data analysis. Strategic decision-making in business is now driven by real-time reporting, monitoring, and analytics. By tracking customer behavior, keywords, and click-throughs, brands can determine factors like time-to-market online and the popularity of products and services among customers. Brands can then harness this data to drive profits. This modern aspect is cost-effective in comparison with traditional customer relationship management models. The social CRM program evaluates customer engagement, perceptions, and their interaction in the community. This information is then utilized to drive product development, marketing, and sales strategies.

Social CRM assists companies in making informed decisions throughout the business lifecycle. Ultimately, an excellent social CRM tool will provide decision support to drive growth through custom, targeted marketing.

Also see: Top Customer Service Solution Companies