Social CRM (
customer relationship management
Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information.
CRM systems compile data from a ra ...
) is use of
social media
Social media are interactive media technologies that facilitate the creation and sharing of information, ideas, interests, and other forms of expression through virtual communities and networks. While challenges to the definition of ''social medi ...
services, techniques and technology to enable organizations to engage with their customers.
Applications
Social CRM has applications in
marketing
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emph ...
, customer service and sales, including:
* Social Engagement with prospects: Social CRM tools allow businesses to better engage with their customers by, for example, listening to sentiments about their products and services.
*Social Customer Service: Ownership of social media is shifting away from Marketing and Communication as engagement increasingly relates to inbound customer service-based topics. Rather than social being seen purely as a space for companies to deliver outbound marketing messages, it is the inbound customer queries that allow for meaningful points of engagement and the building of brand advocacy.
*Personalized Marketing Strategy: The ability to create custom content is increasingly dependent on access to reliable, qualitative social user data to facilitate precise audience segmentation. Furthermore, dynamic audience segments, built on both social data and demographic data, allow for more accurate measurement of campaign KPIs.
Traditional CRM
Traditional
customer relationship management
Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information.
CRM systems compile data from a ra ...
focuses on collecting and managing static customer data, such as past purchase information, contact history and customer demographics. This information is often sourced from email and phone interactions, commonly limited to direct interactions between the company and the customer.
Social CRM adds a deeper layer of information onto traditional CRM by adding data derived from
social network
A social network is a social structure made up of a set of social actors (such as individuals or organizations), sets of dyadic ties, and other social interactions between actors. The social network perspective provides a set of methods for an ...
s like Facebook, Twitter, LinkedIn or any other social network where a user publicly shares information. The key benefit of social CRM is the ability for companies to interact with customers in a
multichannel retailing
Omnichannel is a neologism describing a business strategy. According to ''Frost & Sullivan'', omnichannel is defined as "seamless and effortless, high-quality customer experiences that occur within and between contact channels".
History
"Omnis" is ...
environment (commonly referred to as omnichannel) and talk to customers the way they talk to each other. Social CRM enables companies to track a customer's social influence and source data from conversations occurring outside of formal, direct communication. Social CRM also allows companies to keep a full audit history of all customer interactions, regardless of social channel they choose to use, available to all customer care employees.
Social CRM metrics in applications
Metrics for building awareness:
[Castronovo, C. and Huang, L. (2012). Social Media in an Alternative Marketing Communication Model. ''Journal of Marketing Development and Competitiveness'', 6(1), pp.117-131.]
* web traffic
* search volume trends
* volume of followers
* social mentions
Metrics for increasing sales:
[
* website traffic
* social mentions
* volume of followers
* repeat visits
* social content acceptance rate
Metrics for assessing changes environment in an industry:][
* Share of Voice: how much of the overall voice a single brand consumes.][
]
See also
* Customer experience management
Customer experience (CX) is a totality of Cognition, cognitive, Affect (psychology), affective, Sensory processing, sensory, and behavioral consumer responses during all stages of the consumption (economics), consumption process including pre-pur ...
* Natural language processing
Natural language processing (NLP) is an interdisciplinary subfield of linguistics, computer science, and artificial intelligence concerned with the interactions between computers and human language, in particular how to program computers to pro ...
* Sentiment analysis
Sentiment analysis (also known as opinion mining or emotion AI) is the use of natural language processing, text analysis, computational linguistics, and biometrics to systematically identify, extract, quantify, and study affective states and subjec ...
* Social analytics
Social analytics is a philosophical perspective developed since the early 1980s by the Danish idea historian and philosopher Lars-Henrik Schmidt
Lars-Henrik Schmidt (27 August 1953 – 10 September 2021) was a Danish History of Ideas, idea-histo ...
* Social Selling
* Text analytics
Text mining, also referred to as ''text data mining'', similar to text analytics, is the process of deriving high-quality information from text. It involves "the discovery by computer of new, previously unknown information, by automatically extract ...
* Text mining
Text mining, also referred to as ''text data mining'', similar to text analytics, is the process of deriving high-quality information from text. It involves "the discovery by computer of new, previously unknown information, by automatically extract ...
* Unstructured data
Unstructured data (or unstructured information) is information that either does not have a pre-defined data model or is not organized in a pre-defined manner. Unstructured information is typically text-heavy, but may contain data such as dates, num ...
* Voice of the customer
In marketing, the voice of the customer (VOC) summarizes customers' expectations, preferences and aversions.
A widely used form of VOC market research produces a detailed set of customer wants and needs, organized into a hierarchical structure, ...
References
{{reflist
Customer relationship management