What is Social CRM
What is Social CRM?
Social
Customer Relationship Management or social CRM is nothing but communicating
with customers through social networking sites like Twitter, LinkedIn and
Facebook. Social CRM integrates social media platforms with customer
relationship management (CRM) systems to provide insight into customer
interactions with a brand, and to improve the quality of customer engagement. Social
CRM refers to the methods used to establish customer relationship using various
tools on social networks. It is a lot different from the traditional CRM.
Traditional vs. Social CRM
Traditional
CRM majorly stores and manages the static customer data like names,
organizations, demographic information, and transaction history and so on.
Traditional CRM get this data sourced from email and phone interactions,
company records or data fed in survey forms. However, Social CRM offers
different advantages than traditional CRM in that it targets prospective
customers through social media platforms and offers more convenient customer
service, as well as a more personalized marketing strategy.
As we
know the dynamics of marketing has been completely changed in past few years.
Consumers not only buy the product or services , they also buy feelings,
emotions that urge them to buy and stay connected with the particular brand for
a longer time. Social CRM is not simply based on client data and client
interaction however; it is more based on conversations and relationship we
build with customers during the interactions over the social networking
websites.
On the
other hand Traditional CRM applies an approach of direct advertising to enhance
sales, gather customer data to target campaigns at specific consumers, and aims
to retain current customers. In addition, customer service is often automated,
and customers share the experience through word-of-mouth. Social CRM is based
more on customer engagement. Social CRM enables the sales and marketing team to
analyse the sales communications between consumers and businesses through social
media channels and review platforms.
In this
manner Social Customer Relationship Management facilitates sales and marketing
team to create a roadmap to prospects, provides faster and better customer
service through a consumer's preferred social media platform, and enables consumers
to share their experiences with billions online.
Social Media CRM Tool and Strategies
As we
know Social Customer Relationship Management system based on customer
engagement, so it uses the following metrics to evaluate the level of
successful customer engagement:
Traffic: Social CRM
measures traffic and conversion rates from social media platforms. This enables
a business to see how many customers visit sites and how those clicks convert
into value.
Engagement: Social CRM enables you to measure not just clicks,
but user engagement with the sites.
Level of followers: Social CRM helps identify active followers and
how they do or do not interact with the company's content.
Brand mentions: Social CRM helps measure how many followers are
talking about a company or brand, and if those customers are sharing their
experiences via social media platforms.
Difference between Social CRM and Social Media
Social
media involves social networking websites like Facebook, Twitter and LinkedIn. If
we talk in terms of business then, customers use these social networking
websites to communicate with various organizations and to share their
experiences online. On the other side Social CRM is a unique way to know what
customers are speaking on social networking websites about any brand, and it’s
not only storing the customer information in a customer relationship management
system.
Significance of Social CRM
As per one
of the recent surveys done by Twitter and Market Probe International, 64 per
cent of social media users have shared a positive experience about a business
online. By implementing the Social CRM strategy to your business you can avail
ample of benefits that are as follows:
Marketing
teams can identify and track your businesses biggest online champions and
influencers and follow what they are saying and sharing.
Upper
management can prioritise social prospecting with the involvement of all
relevant employees
Business
become less reliant on individual employees for managing a social media
presence and less affected if these employees leave.
The Power of Social CRM
Social
media empowers businesses to harness the power of community participation and
collaboration. These two qualities are inherent in social media and essential
in social media strategy. Undoubtedly, inviting community participation comes
with some risk too. It is not possible to control what people say about any
brand on any social media channel. However, a business should keep track of
consumers’ statements, respond to them, and engage with them in a positive way
that prompts constructive discussion. Companies should examine customers’
insights, concerns, complaints, and requirements and then onwards find
creative, effective ways to participate in discussions with consumers.
The most
advantageous and influential part of social CRM consists of tracking the market
trends and knowing what consumers are saying about your business or any other
brand. Social CRM lets you know what consumers speak about your business that
helps your business to address customer needs and concerns in an effective
manner. With the power of social CRM, your business has easy access to early
warning signs of negative press and dialogue and, at the same time, a platform
where your business can address it and mitigate if any damage is done at a very
initial stage. By creating a strong social presence of your brand, you enable
customers and prospects to find and contact you, providing you more chances to
establish and nurture relationships. Social networking websites also offer a
platform to address any concerns of customers quickly and effectively. As we
know, a customer’s ugly experience with a support person can go viral and ruin
your business’ reputation. However, with Social CRM, your business can address
dissatisfied customers immediately and in ways that create positive customer
experiences.
As your
business begins to generate and disperse content, social CRM tools allow you to
track your community’s response and start to identify the most influential
members who spread across the positive word of mouth about your business and
whom other community members look to for information and guidance. Once these
key influencers are identified, you can reward them.
Social
CRM allows your business to conduct surveys with targeted demographics to
analyze the behavioral and geographic profiles of customers and leads. You can
run various social media campaigns that give you a brief view of products and
services that have a positive impact on customers and also those that have a
negative or no impact on customers.
Benefits of Social CRM
Using
social CRM as a central component of your business model can bring significant
benefits that are as follows:
Customer Retention
Social
CRM allows you to address customers’ queries and complaints effectively and in
a timely manner, which creates a positive impact on customers. It also enhances
customer loyalty. It also enables you to know more about your leads and
existing customers. You can gain a better understanding of your customers’
passions, lifestyles, activities, and so on. This customer-centric data enables
you to cater to the needs of customers and leads more effectively.
Social
media strategy also provides you an opportunity to proactively listen to
customers’ requirements and what they feel about your business. Social CRM
allows you to enter the vicinity where people discuss their needs and also
discussing your brand and business products and services. You can show that you
care for your customers by being where your customers are, listen to them
carefully what they say, and get engaged in those discussions when appropriate.
Generate Leads
Uploading
relevant content on social media channels that address customer’s needs,
provides solutions to their issues, and guides them take the maximum advantage
of your products and services is one of the most effective ways to generate
qualified leads. Your existing customers recognize the value your business
offers, and they spread the positive word of mouth. Social CRM is not only
limited to marketing and selling your products or services, but it is all about
offering real value and teaming up with consumers to enhance their experience
and buying journey.
Lead Conversion
Social
CRM amplifies your lead conversion rates dramatically. However, to achieve such
a massive lead conversion, your customer conversion process should be
automated, seamless, and without any hassle, both online and offline:
Online: You can channelize the process for signing up for
your products and services or purchasing products. For example, Amazon.com
follows the same model.
Offline: If your sales process is working offline, then you
must ensure that your sales team is proactive enough to act on leads swiftly
coming in from your business website.
Stronger Brand Presence
Relationships
get established well if it is two-way communication. You must follow people if
you wish that people follow our business on twitter, facebook, LinkedIn, and so
on. As you want that people should take an interest in your brand or business
products and services, then you must also show interest in knowing what people
want from your products and services. Go through the consumers’ blogs and
comments and try to understand what their concerns are. This will generate
confidence in consumers’ minds regarding your brand that you care for them and
ready to listen to them. Besides this merely showing interest in consumers’
blog and comments not enough, try to come up with solutions for their issues
and also share valuable insights regarding your business products and services
that will help prospects and your existing customers to know your brand in a
better manner. You can also create your brand presence online stronger by
re-posting something that has been already shared on the internet related to
your business and industry. Retweet the content on twitter that is related to
your brand or industry.
Try to
make the most of all social media channels by promoting your business content
entailing your business products and services information on YouTube, Flickr,
Slideshare, and other content-sharing venues. Also, share the links of these
social media handles on your business website that encourages your website
viewers to connect with you on various social media platforms. Contact and try
to take the interview of key influencers of your online community and feature
those interviews in an article or blog post of your website.
Reduce support costs
Addressing
customer nitty-gritty issues online on social media platforms saves the time of
your support team, and also the expense goes down in hiring more employees in
the support team. Addressing the queries of consumers on social media channels
is an easy and time-saving activity. Even customers don’t want to call on
toll-free no’s and wait on IVR for a longer time. On social media channels, it
is more convenient to interact with each other.
Thus,
Social CRM is a basic need for any growing business today. Undoubtedly, Social
CRM software is the most buzz word these days because it is not just a unique
way to sell your products and service but a more effective way to build a
content strategy of your business and present in from of the target audience and
existing customers. Here businesses not pushing the consumers to buy from them
but actually educating the customer about how their products and services are
most appropriate as per their requirements. Besides this, Social CRM strategies
help businesses to delight their existing customers by addressing their issues
quickly and generate customer loyalty.
