Social Media – The new Customer Relationship Management (CRM) Frontline
What is Social CRM?
Whether it’s a working day or a holiday, you make it a point to check your Facebook and Twitter status at least once every 24 hours. If you are a new business owner who owns a website offering some service and you have integrated the latest features in your website, the chances that you will make it successful are still slim unless you opt for social media tools as a medium for engaging your target audience. Integration of web analytics, conversion management analytics and CRM analytics to determine the ROI through social media is called Social Customer Relationship Management (CRM).
Gone are the days when your customers used a web-based portal to message your organization; your technical support team read their messages and resolved them within 24 hours. Nowadays, customers prefer two-way communication.
Spectators: People watching TV, reading newspapers, reading blog posts and articles on your website are converting themselves into participants, rating your products, commenting on your messages and writing product reviews.
Case Study- Comcast: Comcast is a leading cable operator and internet service provider in the United States. They decided to adopt Twitter to resolve consumer complaints. In one case, a customer had tweeted on their page about the problems caused by his Internet connection. Comcast quickly found and resolved the issue within 20 minutes. That is the advantage of using social CRM to retain customers.
What can be achieved with Social CRM?
If you are launching a new product, it is best to analyze the preconceptions in the mind of consumers. Social Media responses will enable you to gauge the effectiveness of your business strategy.
Instead of spending a big budget on market research and demographics, companies can reroute the budget for other expenditure by gathering valuable market information through direct conversations. Some feasible methods include innovative quizzes, questionnaires and puzzles that reflect current market trends.
Instead of launching a product and finding complaints with it, it is best to present a product and its features prior to launch and let consumers provide suggestions. This makes them feel that they are a part of your company, saves resources since changes can be incorporated in the early stages of development and overall, improves brand experience.
For example, one strategy is to make a short video that introduces the product or service and review the comments suggested by users. If a product has issues, the organization can quickly resolve those issues using Social Media.
It is important how the organization classifies the information posted by consumers on social media channels. Here is one strategy to ensure that information is segregated for optimal analysis.
Divide the messages into complaints, feedback and normal messages.
Communicate with the team players of your Social Media team and let them know their roles and responsibilities.
Analyze customer sentiment for the products you market using Facebook or Twitter.
Once you finish grouping the messages, ensure that you create a weekly report that reflects various statistics and share this information with your company’s stakeholders.
Customer Relationship Management (CRM) is all about maintaining healthy relationships between the consumer and the firm. Social CRM can be considered as an adoption of new technologies and cultural shift from the traditional operating model to the new two-way communicational model.