Incorporating social media into customer relationship management (CRM) is the next challenge for enterprises that seek to get closer to their customers. The importance of social media has grown significantly over last decade. By March 2013, Facebook had 1.11 billion users [1], which is followed by Twitter with more than 554.75 million users, as of June 2013 [2]. This explosion of using social media resulted in a change in traditional relationship between business and customers as control of this relationship shifted to the customer, who has power to influence others in his or her social network. As most of customers communicate in social media, it became absolutely necessary for companies to keep up with this trend and follow their customers to new channels. In social media bad news spread very quickly. What started with innocent complaint about company’s product or service can escalate in wild discussions just overnight. For example, although HSBC was criticised on several Facebook groups for introduction of new student banking charges, HSBC did not respond until it had been in the national media [3]. This poses a huge threat to company’s PR so if an organisation does not monitor information flow on Facebook, Twitter and other virtual communities, it can easily find itself in troubles without even knowing about it. Further is discussed how companies can incorporate social channels into specific CRM processes – collecting information, targeting customers, customer engagement and customer services. Collecting information about customers Companies seek to understand their customers, get to know them better. Therefore, they collect as much information about customers as possible in order to approach them with appropriate incentives. ... ... middle of paper ... ...Accessed 12 Dec 2013]. [15] Lithium.com. Social Media Customer Service Response - Lithium. [Online] Available from: http://www.lithium.com/products/socialweb/respond [Accessed 12 Dec 2013]. [16] Newretailblog.com. Social Media Case Study – Best Buy’s Twelpforce | New Retail Blog. [Online] Available from: http://www.newretailblog.com/social-media-case-study-best-buys-twelpforce/ [Accessed 12 Dec 2013]. [17] Acker O, Grone F, Yazbek R, Akkad F. Social CRM How Companies Can Link into the Social Web of Consumers. [PDF] booz&co.; 2010. Available from: http://www.booz.com/media/uploads/BoozCo-Social-CRM.pdf. [18] Bizjournals.com. Best Buy scraps Twelpforce, shifts Twitter support to Geek Squad - Minneapolis / St. Paul Business Journal. [Online] Available from: http://www.bizjournals.com/twincities/news/2013/05/07/best-buy-scraps-its-twelpforce.html [Accessed 12 Dec 2013].
Senior leadership can have a clear and accurate assessment into their internal customer-facing organizations and activities (Jacewicz & June-Suh, 2015). The Senior leadership strategy of REI can use the CRM as a tool to remain close to the consumers, especially by offering a social networking component to their CRM implementation. The social networking allows the company (REI) to become part of the conversation and track future trends and desires of the consumers. Today’s CRM applications are evolving into social customer relationship management systems (SCRM). The SCRM concept is a great fit for REI, with the REI mission to provide customers with best outdoor gear, the SCRM can be used by the business for creating a collaborative customer experience (Jacewicz & June-Suh,
Tekippe, Abraham. "How Kraft, McDonald's, Sears Are Doing Social Media Right." Crain's Chicago Business. Crain, 2 Jan. 2012. Web. 23 Oct. 2013.
Stelzner, M. A. (2013). 2013 Social Media Marketing Industry Report. Retrieved 02 28, 2014, from Social Media Examiner.com: http://www.socialmediaexaminer.com/social-media-marketing-industry-report-2013/
Thus, customers can get and receive information from each other instead of communicating to the corporations or the companies and as result they can easily spread information about company products as well as information about new arrivals
If you asked 10 followers on Twitter if they prefer Coke or Pepsi 9 out 10 would probably say Coke. This paper will explore the concepts of social media presence for The Coca- Cola Company. Why do people drink Coke? Why is Coke so popular? Questions such as these will be answered throughout this strategy recommendation project. This paper will discuss and identify the effects of social media, and what will make social media better by research on best practices.
Odden, T. (2008). Big brand social media interview: Wells Fargo, Home Depot, UPS & Graco. Retrieved from www.toprankblog.com/2008/10/big-brand-social-media-blogwell/
Among the billions of social media users, there is a percentage dedicated to businesses who use social media as part of their marketing strategy. The sheer number of people who use services like Facebook and Instagram on a daily
With social media’s rise in popularity, consumers were given another platform, a viral one, to discuss companies and their products/services. While the main focus of public relations has always been to promote communication and goodwill, the practice also promotes publicity for their clients. With the growth from traditional tools to more sophisticated tactics like video news releases, webcasts, blogs, and social networking, public relations has been able to transform its effectiveness in just a few short years. Any company that does not include the use of social media, is missing the opportunity to obtain valuable information about their brand while also losing a chance to spread its message on a platform that reaches
In today 's business environment, it is very important to understand the consumer 's behaviour as it shapes the market trends. They are well aware, more educated, and more serious in demanding for product and services that they require and they are well aware of the technology and comparing the products. It is imperative for the organisation to understand and share their internal customer knowledge and then combine it with new information about their customers in order to compete in the market and to achieve the future success. The basic three steps in marketing process is to understand the market place, designing marketing strategy in order to customer driven and making up marketing program, which leads to the forth and most important step, is to build a profitable customer relationships, ( kotler & Armstrong, 2006). In order to establish such relationship it is most important to understand Customer relationship management (CRM) which is concept of modern marketing reforms. Kotler 2006, customer relationship management is the overall process of building and maintaining
...o a call centre, they expect good service and timely results. E-CRM call centre technology helps manage call routing and tracking. Service representatives are quickly provided with the information they need to troubleshoot and solve problems. In addition, call centre representatives generate orders that are immediately routed to fulfilment, providing an integrated customer experience.
Computer Economics, a research and consulting firm, surveyed 209 IT organization worldwide regarding their IT investment plans. The leading trends “were identified as low risk/high reward based on their cost predictability and their positive return on investment for organizations within two years’ time.” CRM tops the list for 2014 (Mackie, 2014)
Social media is pertinent in use of communication throughout today’s organizations. There are many social media platforms that allow organizations to convey communication to potential consumers, stakeholders and the public. “It is essential for leaders to integrate these technologies and seek the best way to use social media and networks to the advantage of the business” (Billington, 2012, p.1). Business owners find that keeping up with current technology trends is essential in having a competitive advantage in the market place and having a strict set of standards and strategy is important in quickly adapting to social media trends.
Since social media users grow larger and larger, many companies take the opportunities of using social media marketing to reach more customers. Companies use social media marketing in order to achieve marketing communication and branding goals. Social media allows companies to see what prospects are saying about their brands and competitors. It also allows companies to build deeper relationships with existing customers that drives them to purchase again and again. Not only it can help them generate new leads, but it allows them to build deeper relationships with existing clients that drives them to purchase again and again. It has become common for businesses to branch out and experiment with multiple networks with the aim of reaching the maximum amount of costumers.
Customer relationship management has become the marketing buzzword of the past two decades with business-to-business firms jumping in, many without really being certain of what they hope to achieve from it, and oftentimes being disappointed with the results.
Customer relationship management or CRM for short is a model for managing a company’s interactions with current and future customers. When CRM is utilized correctly it will increase profitability and customer loyalty, which are both very important to an organization. It involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support. Customer relationship management is very important in many ways to help a company become and stay successful. CRM can help businesses gain a competitive edge through communication, marketing, gathering customer information, social media and mobile technology. Customer relationship management is a continually evolving domain and now social media technologies have revolutionized the way businesses and consumers interact. (Choudhury & Harrigan, 2014) There are many benefits that come with implementing customer relationship management.