In the age of digital media, relationships with customers can be nurtured online in ways that were not possible until very recently. Businesses that approach this process in a systematic way have an important edge in the marketplace. Customer Relationship Management (CRM) allows companies to leverage their existing contacts into additional revenues and improved customer satisfaction. This set of practices has mostly been accepted by businesses of medium size or larger, and many effective software tools for this purpose are widely used. Of course, nothing in marketing stays the same and the rise of social media is forcing the industry to rethink the approach to CRM once again.

Having centralised control over social profiles makes it simple for brands to see the bigger picture. With a social CRM strategy brands can monitor mentions, comments, and private messages from a singular dashboard. Social CRM strategies go hand-in-hand with social conversational marketing strategies, smart brands are investing in these areas.

Ryan Dearlove – Chit Chat Founder

What is a social CRM?

While traditional CRM solutions were focused mostly on communication channels such as phone calls and e-mails, with social CRM the action is taking place on social media platforms. Since practically all enterprises already have social media presence and interact directly with their customers in this space, it’s only logical to use the newly available wealth of information in a strategic manner. To power this transition, a new generation of CRM tools is emerging, allowing businesses to take full control of the online narrative surrounding them.

What unique opportunities are created by social CRM?

There are numerous benefits of effective social CRM, starting with a better understanding of the customer base and its opinions about the brand and/or products. Tracking all mentions across multiple social platforms and the sentiments associated with them allows for much deeper analysis of the relationships with specific groups of customers. Not only it’s possible to learn what the buyers are thinking, but also to respond to their wishes faster and more vigorously. At the same time, long-term positioning and brand image are strengthened as well due to improved communication with key opinion makers and more cost-effective marketing. Naturally, detailed insights about social habits of the customers can unlock more effective sales, so there is a direct financial benefit from adopting social CRM products. Precisely targeted campaigns that build on social feedback and address customers’ concerns can have a tremendous impact on the bottom line.

Why you need a coherent social CRM strategy?

While the tools afforded by some of the latest social CRM solutions are impressive, raw quantitative information about followers, clicks, and comments means very little without proper interpretation. Businesses that know what they are looking for in the abundance of online data can discover trends that can be exploited for realisation of critical objectives. Strategic decisions such as whether to prioritise visibility, growth, or conversion should guide the process of data gathering and analysis, which in turn can reveal the most profitable courses of action. Additional business intelligence acquired with social CRM software allows companies to make data-driven moves, while on-going interaction with the customers stimulates loyalties and greatly increases crisis-management capacities. That’s why businesses of any size would be smart to formulate a social CRM strategy without delay and implement it as a matter of high priority.

Learn how we’ve helped businesses like yours take control of their social CRM and enhance their customer relationships.