The future is bright, the future is social

A recent article by The Stone Consultancy titled ‘CRM, loyalty and smart locations’ discussed location- based software and how it can be used to build and manage customer loyalty. In this article, we will look at Social CRM and how it is increasingly changing traditional CRM methods and strategy.

The first question to ask is: what is social CRM?

Social CRM is essentially the process of integrating your various contacts and social media information into your current collection of knowledge regarding potential prospects and existing customers. For example, the majority of businesses will have some kind of CRM system, which records client and prospect information and which can then be analysed, segmented and acted upon. Essentially social CRM is taking traditional CRM to the next level.

Social media can provide a business with the very latest information regarding another business or individuals. As so many of us now use social networking sites such as Facebook and Twitter, it is possible to obtain important information in real time from just about anyone.  Any relevant personal or business information about them can then be used to build and maintain their loyalty.

If, for example, one of your prospects tweeted that their company has just changed their service in a particular way, or released a new product, then it would be sensible to have a conversation around this. If you use this information effectively and pertinently, then it will only reflect well on you, as it demonstrates that you are up to date with the very latest information.

You can expect to see either traditional CRM systems adding social networking features, or newer CRM systems being developed which incorporate social media This will then form part of a contact management system, which embraces social networking sites such as Facebook and Twitter. As social networks are now firmly accepted into society as a crucial form of communication and show no sign of fading in popularity, it is only sensible to incorporate and integrate all of your contact information to include social media.

At this moment in time, two of the most popular Social CRM solution providers are Nimble and Gist. Currently these software tools are free, however it is unlikely that this will remain the case for any significant length of time. They offer a great insight into how social networks such as Twitter, Facebook, LinkedIn, e-mail and traditional CRM can be incorporated. It is worth taking a look at them to see what they can do for your business.

In conclusion, social media needs to become a key part of your customer and client relationship management system in order to gain a competitive advantage. Over time, more and more people will join social networking sites and they will be used more and more alongside more traditional forms of communication such as e-mail to reach customers effectively and cost-efficiently.  Finally, if you have thousands and thousands of followers on Twitter, the key to making your social CRM  work is to use systems, which can manage large volumes of data. Fortunately, there are systems out there that let you manage this level of data relatively easily.  The key is having an easy interface so that you don’t have to have multiple screens open at any one time  in order to keep track of your customer and prospect relationships.

Deborah Stone at The Stone Consultancy remarks; ‘using social media data effectively can have a major impact on the way to can effectively target your customers, by giving you greater insight into who they are and what they want from your business. It will take your CRM strategy to the next level.’

 

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