Finding Value in Social CRM ()

Posted on by Abby Johnson |

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Customer relationship management (CRM) is a common strategy in marketing circles, but what about social CRM? It’s a concept that is becoming more popular as the value of social media increases. Jacob Morgan of the Chess Media Group spoke with WebProNews about this idea and how it is different from traditional CRM.

As he explains, traditional CRM is about one-way communication and getting customers to move down a particular pipeline. Social CRM, on the other hand, is a two-way communication model that allows companies to engage with consumers at any time.

Distinctively, Morgan said social CRM was the idea of “solving specific business problems as they pertain to how customer behavior and expectations have shifted. ”

If you look at factors such as how customers act, what they buy, how they buy, and what they’re willing to pay for something, you can see a shift in recent years, which is, in part, due to social media. Social CRM looks at these behaviors and helps businesses deal with this shift.

Although businesses face the same problems of loyalty, advocacy, and finding efficient business practices that they did before, Morgan said the solutions are changing. He went on to say that businesses need to look for long-term business value solutions for what they are trying to do.

Posted in: Advertising and Marketing, BlogWorld Expo 2010, Jacob Morgan, Social Media
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