Social Customer Relationship Management

Question: Discuss about theSocial Customer Relationship Management. Answer: Introduction: Here in this report we are going to discuss about initiative that promise to deliver strategic advantage to companies and even to countries. There are various initiatives exist that can be helpful for strategic advantage for a company such as social media in business organizations, cloud computing in large corporations and use of open source software for government in developing countries. All these initiatives have great influence over business organizations and all these are emerging and advanced technologies. Here in this report we will emphasize on Social media for customer relationship management CRM. Today trend of social media has become so much popular among business organizations for business purposes and among other users for performing their other non-business activities. Customer Relationship Management is important activity for every business organization to attract most customers towards business and to provide them satisfactory services. To achieve this, way of communi cation and sharing information must be better for CRM. According to analysis, it is found that social media can be used as best way for customer relationship management. Social media connects business organizations with its customers worldwide and it is an easy way to advertise business products and services among people and people can easily know about your products services online. Before discussing about that how social media is better for customer relationship management, we will emphasize on both terms separately to understand their performance at individual levels. Development of Ideas There is boom of social media in IT industry and there are various websites and applications that are used by users to communicate and sharing information for social networking. Social Media Social media is also known as collection of online communication channels and these channels are related to input, interaction, collaboration and sharing of information. In social media, websites and applications are dedicated to forums, social networking, social bookmarking, microblogging and social curation. People are connected with social media through social networking websites such as Facebook, Twitter, Google+, Linkedin and Wikipedia. Facebook is so much popular social networking website which is used for promoting business and to communicate with friends, colleagues and customers online. Twitter is a microblogging service and it allows registered members to broadcast their short posts that are also known as tweets. A member of twitter website can tweet and follow people. On other side, Wikipedia is actually a free and online encyclopedia that provides content on different topics. Anyone can register on this website to create an article for publication. Besides these social me dia websites, other essential website that can be used for business purposes is LinkedIn. Therefore, these websites are useful for business organizations and they can use these websites according to their requirements. (WhatIs.com, 2016) Customer Relationship Management Now next important concept is about customer relationship management (CRM) which is commonly popular among business organizations. Customer Relationship Management is a term which is highly used by companies for its practices, strategies and technologies. Through this CRM, companies manage and analyze customer interactions and their data through life cycle of customers. The major goal of organizations behind this is to improve interactions and business relationships with customers. There are various software available that can be used for maintaining customer relationship management. The main purpose of these software solutions is to consolidate customers information and data into a single CRM database so that business users can more easily access and manage their information. Therefore, these are some reasons that CRM is considered important for business organizations and organizations perform all essential efforts to enhance usability of CRM for their customers and social media pla ys an important role in it and next segment of this report we will discuss that how it will happen. (Webopedia.com, 2016) Communication of Ideas This is an important segment to discuss that how social media is important for CRM and how it will help in its growth. Social Media for Customer Relationship Management Social Media for customer Relationship Management is also known as social CRM. It simply adds a social measurement to the way in which we think about our customers and our relationship with them. Social CRM has changed the way of customers to communicate through social media. Through CRM we can combine information of a customer that we already know about them and that we have collected from Twitter and Facebook. On the behalf of this information, we can act faster for customers query and can provide them better respond for their query. In earlier times, this type of services are also provided, but those services were not so much appropriate like this social media.( Salesforce.com, 2016) According to analysis, it is found that by using these old services, customers were not able to communicate properly with organizations and they did not get appropriate answer for their queries and there was a gap between understanding of customers and organizations. Social CRM is a technology that ha s removed this gap by making an effective bridge for sharing information and to communicate with each other. Now in next segment of this report, we will discuss about contribution of social media for customer relationship management. (Socialmediaexaminer.com, 2016) Customer Relationship Management framework that deals with social media, is able to provide same level of access to information which is provided by traditional channels of communication, but besides this, it also provides ability to use social tools those are capable to communicating internally. Through Social CRM, we can monitor, track and scale of our social media communications and this can be achieved by using familiar tools, dashboards and metrics. Due to effectiveness of social CRM, we can connect with our customers more closely. Social CRM automatically attracts customers automatically towards business with its performance in market and due to this way of communication with customers. So there is no need to forcefully attract customers towards organization.With this social CRM, organization has ability to engage with customers individually in a way that they have selected and they no need to compromise with their ability to manage and track communications on a global scale. T hese are some effectiveness of social CRM and due to this, in every business field social CRM is considered to be important for business organizations. On the behalf of above information, we can say that social CRM is a way to enhance value of customers towards business. In social CRM, besides social media, social media marketing also plays an important role. According to analysis, it is found that marketing and sales rely on digital tools for achieving their goals. Delivering of social media marketing capabilities on CRM platforms is an excellent way to help these groups. Therefore it is necessary to know about social media marketing. (Harpham, B, 2016) For advertising business products social networking is considered a best way. The most commonly used social websites that are used for this purpose are Facebook, Twitter and LinkedIn etc. Business pages that are made by business organizations are common way to advertise business. Social Media Marketing is also considered as best way of online marketing. On business websites, organizations can display their products and services and it will become easy for customers to buy those products. These websites are best way to communicate and information sharing among clients and customers. Digital marketing is also an essential way to increased online traffic of your business. Here we have some essential benefits of SMM that is social media marketing. High rate of interest is provided by social media marketing. Website visibility can also be increased so that people can recognize companys brand. An effective way to get right PR on web. For online business it is considered as best way. To implement social media marketing there is requirement to have proper knowledge about this technology. Otherwise it will become difficult to use this technology properly. SMM must be implemented in every business organization to get better business outcomes and profit. Therefore, social media marketing must also be used by business organizations to get more advantages and for growth of business. Social CRM is actually part of digital marketing and it is able to enhance value of our business products, brands and services. There are variety of digital services available that can be used by business organization to maintain its place into digital market for long time. Digital marketing is an essential way to provide security to customers which is first right of them. Some business organizations are there, those are providing online services to its customers but without any proper security and this thing really frustrates customers. That is why eradication of these security issues is necessary by using social media marketing techniques. Here in next segment of this report we will discuss about benefits and drawbacks of social media for Customer Relationship Management. Benefits of Social Media for Customer Relationship Following are some essential benefits of social media for customer relationship: Social CRM is considered to be better than only CRM. CRM manages the customers data, but in social CRM it becomes social data. Here social data can be Facebook Profile and account of Twitter. Social CRM is considered to be important because it understands actual value of customers and they can communicate effectively as compare to other available social media applications. Social CRM is considered to be powerful and effective because it has become customer oriented. (com, 2016) Social CRM works at global level for customer management. It means an organization can handle customers and their needs at global level. Base of social media is extremely large. Social CRM engages organizations with its customers in a way that there is no need for types of marketing. Social CRM, integrates social media directs into customer relationship management of an organization. It means with social CRM we can monitor social media easily and immediately with CRM software. These are some essential benefits of social customer relationship management. Now in nest segment of this report we will discuss about some drawbacks and security issues of social customer relationship. Drawbacks of Social Media for Customer Relationship Management Here we some drawbacks of social media for customer relationship management that are listed as below: It is time consuming for social media to understand, learn and integrate with CRM software. If an organization is not able to spent this much time for integration then it may be difficult to execute social CRM into organization. Other big problem is regarding money. It is possible that to implement social CRM in organization, there is requirement for more money than pre-defined money. These above listed drawbacks of social media for customer relationship management must be considered by business organizations before start its implementation. (Adweek.com, 2016) Conclusion After this whole discussion about social CRM, we can say that now we are clear about importance of social CRM and we recommend to business organizations for using social CRM. While implementing this social CRM, there is requirement to consider above discussed benefits and drawbacks of social CRM. For better business promotion and for enhancing business growth and its revenue, there is requirement to use social CRM. In this report we have also discussed that why social CRM is better that CRM. So for a business organization must implement this social CRM for attracting both global and local customers. References Webopedia.com.(2016). What is CRM - Customer Relationship Management? Webopedia Definition. Retrieved August 31, 2016, from https://www.webopedia.com/TERM/C/CRM.html WhatIs.com. (2016). What is social media? - Definition from WhatIs.com. Retrieved August 31, 2016, from https://whatis.techtarget.com/definition/social-media Fayebsg.com. (2016). Pros and Cons of Implementing a Social CRM Program | FayeBSG. Retrieved August 31, 2016, from https://fayebsg.com/2014/03/pros-cons-implementing-social-crm-program/ Socialmediaexaminer.com. (2016). Social CRM: How Marketing Can Benefit From Social Media and CRM : Social Media Examiner. Retrieved August 31, 2016, from https://www.socialmediaexaminer.com/social-crm-with-kyle-lacy/ Salesforce.com.(2016). What is Social CRM? Learn how Customer Service works best in a new Social Media world. - Salesforce Europe. Retrieved August 31, 2016, from https://www.salesforce.com/eu/crm/social-crm/ Harpham, B. (2016). How social media adds value to CRM. CIO. Retrieved August 31, 2016, from https://www.cio.com/article/3047414/customer-relationship-management/how-social-media-adds-value-to-crm.html Adweek.com. (2016). How Social Media Is Transforming Customer Relationship Management [INFOGRAPHIC] | SocialTimes. Retrieved August 31, 2016, from https://www.adweek.com/socialtimes/social-media-crm/498921