Social CRM is an Important Business Marketing Strategy
Within Wikipedia, Social CRM is described as: “the use of social media services, techniques and technology to enable organizations to engage with their customers. As an emerging discipline, interpretations of Social CRM vary, but the most frequently quoted definition is from Paul Greenberg:
Social CRM is a philosophy and a business strategy, supported by a technology platform, business rules, workflow, processes and social characteristics, designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted and transparent business environment. It’s the company’s response to the customer’s ownership of the conversation.
Social CRM is often used as a synonym for Social Media Marketing, where organizations watch services like Facebook, Twitter and LinkedIn for relevant mentions of their product and brand and react accordingly. However, this is too narrow an interpretation, as Social CRM also includes customer communities managed by the organization themselves.”
Social customer relations management is fast becoming an important topic of discussion among top level marketing professionals and business leaders. Executives in a variety of different businesses realize that social CRM is not only relevant now, but will continue to be an important part of marketing plans for years to come. Many agree social CRM will be the next “must-have solution” for marketing and sales teams. Although many are in agreement that social CRM is a valuable component of a business marketing plan, details regarding best practices for how to most effectively manage the systems and processes are still being determined.
Social CRM was described as “engaging, monitoring, and analyzing relationships with prospects and customers via social networks, the Web, and other digital methods”. Surprisingly, a recent study of more than 1,000 companies revealed that social CRM was not yet being utilized as a tool for generating leads. In addition, only a few companies have installed a formal program and have defined processes for generating optimal results from social CRM. Further, those in marketing and sales roles wanted to use social CRM tools to (1) generate awareness, (2) bring in prospects and leads, (3) create engaging online communities, and (4) increase brand awareness.
As many in marketing and sales positions know, understanding how to position your product(s) within the online marketplace to increase your visibility within the social sphere, can be challenging. In order to understand where and how your company generates leads from social media, you need to be able to review analytical data. For some companies, the amount of data collected regarding what people tweet, like and post about, can be massive. To reduce the amount of time it takes to sort through all of the information, business leaders are now implementing enterprise resource planning (ERP) solutions which include a big data application, such as SAP Business One for SAP HANA. With this kind of program, massive amounts of data can be queried in lightning speed. Marketing leaders can be provided with instant access to up-to-the-minute data and obtain better insights into the minds of potential buyers. With a greater understanding of potential buyers, you can improve product pricing strategies, brand awareness and enhance messaging, and more.
Interested in simplifying the management of your business systems, having accurate real-time (big data) analytics, and easy application development? We’re happy to show you the value of operating your business with SAP Business One on the SAP HANA platform. For more than thirty years, Cornerstone Consulting has helped manufacturers and/or distributors optimize their performance, company-wide. We specialize in making companies outrageously efficient.
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Based in Tampa, FL, Cornerstone Consulting, Inc. is a business consulting and information technology (IT) company. Not only is Cornerstone an award-winning value added reseller (VAR) of SAP Business One, an extremely efficient and integrated business (accounting, customer and sales management (CRM), inventory tracking-control-management, warehouse management, materials requirement planning (MRP), light manufacturing, accurate real-time analytical reports, and more) software systems, our highly-skilled team specializes in cutting-edge solutions and tech support for: