Social Media Changes CRM
For tech watchers, this is pretty big news. CRM Software supports are quickly acquiring start-ups that allow businesses to comfortably manage significantly more social media platforms, as well as, a variety of platforms.
Oracle has purchased Vitrue to aid in the managing and publishing of social media campaigns. They’ve also purchased Collective Intellect to aid in the monitoring of social chatter. Salesforce.com, a strong CRM contender, purchased Radian6 a sentiment tracking company. The list goes on. The question is why the big shopping spree and why should you care?
It seems industry experts believe that the next five years are going to be key for chief marketing officers, who will spend a huge amount of money on CRM systems that will integrate social media. Great news for any business that isn’t running around with a seven-figure technology budget. Early game players referred to as Social CRM adopters are setting the stage for much smaller companies who have limited budgets to be able to adopt this new method fast and within their budget. Also, it will be without the problems that have troubled CRM programs in the past.
Traditional CRM is integrated to make life more efficient and faster customer service within an organisation and its departments. It’s designed to increase profits, improve customer service with faster resolutions and many other benefits.
However, CRM programs executed poorly can make a company look very bad. Anyone who has received a mailshot that’s supposed to look personalised but the name is spelt incorrectly, or duplicates are received, knows that a company’s customer service attempts are far from personal. Another great example is the automated telephone answering system that annoys customers to no end. Yes, these things lower your costs but at what cost to your customer service?
Traditional CRM systems turn people into data, and that’s a problem. Relationships become rules of engagement, and that’s an even bigger problem. Technology can’t be empathetic, which is what’s driving CRM companies to integrate with social media.
75% of UK consumers use one or more social networking sites, which provide the opportunity for 24/7 exceptional customer service, smart branding, and endless opportunities to work with the consumer in your favour. A company’s data power increases exponentially. It’s adding an entirely new dimension to CRM, and that’s exciting.
For years, CRM has been one-sided communication and now that social media is becoming an integrated part of CRM the opportunity for two-sided communication is a reality. Its smart business and those who jump in early will benefit.
- Social CRM adopters are enabling small companies
- Without engaement your relationships turn into data
- Opportunity for two sided communication