Social CRM: the latest evolution for managing customer relationships

11 08 2010

CRM (Customer Relationship Management) revolutionalised the way that marketers collect intelligence about their buyers.  Now, as the CRM evolution continues, the notion of social CRM has empowered organisations to connect with customers and prospects on an even greater level.

CRM organisations not only benefit from a greater understanding of their customers online behaviours, but also increased operational effectiveness, easier access to data and improved collaboration.

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11 08 2010
Marketing Wise

When most people think of CRM (Customer Relationship Management) they think of the software that automates customer interactions, such as sales, customer service, technical support and accounts processes. But CRM is actually a marketing concept that is underpinned by these three keywords: ‘Acquire, Enhance and Retain’. Ultimately, it is a customer-centric strategy that aims to improve the efficiency of a sales organisation via better segmentation and targeting, higher close rates, increased customer loyalty and ultimately, greater Customer Lifetime Value (CLV). It’s obvious to see why social media is so complementary. Now, CRM technology companies are introducing social media as a function/feature within their systems and, as this article discusses, it is the next phase in database driven customer management.

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