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Social CRM – Implications and Best Practices

By June 15, 2021August 18th, 2021SuiteCRM

Understanding Social CRM:

As understood, CRM or Customer Relationship Management is a technique for enterprises to be in constant touch with their customers by understanding the latter’s needs and anticipating their requirements based on past data. As OpenSource CRM solutions are gaining widespread popularity across all sectors, the need to go deeper into customer expectations has gained importance. 

Today, the world is connected by different social media platforms like Facebook, WhatsApp, Twitter, etc. The ability to support business strategy complemented by business rules, technology platform, social characteristics, and processes to engage the customers in collaborative conversation to provide mutual benefit value both to the customers and to the business units is what entails a new avatar – Social Customer Relationship Management (Social CRM).

Implications? Many!

The world is becoming more and more digital and we are seeing its impact in almost everything we do. Social CRM is giving a chance to use social media services, technology, and techniques as a platform to be in touch with their customers. It augments traditional CRM focuses on data based on past customer transactions, customer demographics, preferences, and contact history which is often taken from email, phone or customer survey forms. Social CRM information is obtained through social network websites like Facebook, Twitter, LinkedIn, Snapchat or any public platforms where the companies’ customers share their personal opinions about their engagement with the company and its services.

How does it work?

Through social media, it becomes convenient for companies to understand the mood of the customer through conversations, comments, posts, pictures, and videos. In general, the behavior pattern of consumers and, thereby, in turn, the market is established. 

SCRM does not replace the traditional CRM efforts. Instead, it adds more value to it. It listens to the customers through social media engagements and adds more dimensions to the customer insights by capturing the real-time information from these forums. This, in turn, helps the companies to tap the appropriate information more quickly and aptly. 

Of course, there is no magic wand! This data may not bring in immediate results, but it promotes the long-term engagement with customers. This may indirectly generate more leads, create influential relationships and build brand confidence driving future sales.

Best practices in Social CRM:

Social CRM is a movement about shifting from traditional sales to building a conversational relationship on social media platforms so that it improves sales and companies improve customer experience with engagement. 

Social CRM provides many benefits by allowing businesses to focus better on social customer care. It’s time for companies to make a shift to social CRM to be able to tap the market more quickly and effectively.  Social CRM enables businesses in the following ways:

  • Ready available Information

Social CRM helps businesses to get information to users more quickly and assist them in the required product or services.

  • Real time monitoring

Social CRM helps businesses in getting real-time data through social media websites like Facebook, Twitter, Instagram, LinkedIn, Pinterest, Google Plus, Snapchat, and so on and thus collect required data more efficiently.

  • Customer friendly systems and services

One of the difficult tasks in CRM is to reach out to the customers, especially across the globe especially with a large footprint. But with Free CRM, things become easy with a large consumer base. The platforms make reaching out to them simple and convenient, and thus one can service or target multiple users at once. Companies can focus on delivering products and services that will give value to their consumers, saving their time and getting their work done in a hassle-free manner. This is the basis of building a deep relationship and brand loyalty.

  • Instant connectivity with consumers

With traditional CRM, the complaints of customers were not solved outside the business hours. But with social CRM, it is possible to be connected with customers 24 hours a day and 7 days a week! People are always online in some parts of the world. Thus, it becomes easier to solve their queries immediately. This increases the credibility of the business units.

  • Increase in Productivity and Sales

With the instant access to customers’ needs through social CRM, companies are able to reach out to customers more efficiently and faster. Being in touch with the customer constantly through social media can boost sales and build direct-reach with confidence.

  • Competitive Intelligence

Social CRM helps in getting information about the competitors through the discussions happening in social media. Linking consumers with competitor’s brands can also give a valuable understanding of the market’s needs and set benchmarks for one’s own position vis-a-vis competition. This way it becomes easy to tap the consumer sentiments and act accordingly which can improve the sales.

  • Further Research and Development

By monitoring the customer conversations on social media, it becomes easy to gauge the needs of the customers and accordingly research and development can happen to satisfy the needs of the customers.

 

A last word…

Many organizations have social CRM as a “nice to have” feature.  By leveraging deep insights of the customers, business units can anticipate the needs of the customers. Social CRM helps in productivity, build trust and confidence and leverage long relationships with the customers.

Businesses, therefore, need to change their way of approaching customers if they intend to grow. Nurturing customer relationships and building community with customers is the secret to success.

To know more about the Reinventing Social CRM

Nasir Khan - CRM Expert

Nasir Khan - CRM Expert

More than decade serving client-contact, consistently contributing above average, expertise been honed in cultivating strategic relationship, anticipating problems and communicating with warms, persuasive conviction. • Positioned SugarCRM as the most favorable CRM for BFSI industry in India