There’s no question that our transformation to a mobile society is already underway. Broader adoption and better integration of mobile technologies will permanently alter the ways we interact with our customers and with each other.
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Social CRM or the use of social media combined with traditional CRM campaigns and software potentially gives marketers the ability to move faster, scale quicker and breakthrough long-standing internal silos.
In theory the real-time nature of social media conversations add another dimension and another marketing challenge to the prospect of building and sustaining meaningful customer relationships. "Social CRM," it is claimed, "enhances the relationship aspect of CRM and builds on improving the relationships with more meaningful interactions… It is the company's response to the customer's ownership of the conversation."
Social CRM is a way for companies to regain entry to on-going conversations about them. Customers "discovered that they can enjoy a more accurate, timely and relevant customer experience without the organizations disrupting the flow of influence." Traditional CRM programs don't get it, are brand rather than customer-centric, can't move fast enough to counter a hit or a groundswell on Twitter and don't have the social cred to mix it up with their own customers. Therefore social CRM gives brands a fighting chance.
Driving this idea forward is a new study from Altimeter titled "The 18 Use Cases of Social CRM, The New Rules of Relationship Management authored by Ray Wang and Jeremiah... Read more
A new study looked at the BusinessWeek/Interbrand top 100 global brands, audited and catalogued their social media activity, ranked their activities and compared the brand's financial performance to create what they are calling an "engagement database."
It's a cleaver exercise, a good PR move for Charlene Li, who left Forrester to establish herself at Altimeter, and an blogable way to point out the relative penetration of social media among the planet's top brands. The data was weighted so that those who use more of the 40 identified social channels got a higher rank -- kind of putting a thumb on the scale.
As you might guess early adopters and tech-forward giants like Dell, Starbucks, Google and eBay top the list while embattled and security-conscious financial services giants like AIG, Goldman Sachs, AXA, Allianz and Citi bring up therear.
The premise is "resembling any in-person exchange, socializing requires more than just being there -- you have to interact with others, instigate discussions, and respond during conversations." The study "implies value in social engagement on top of social presence -- it pays to actively and continually participate and invest in your networks."
The authors claim a "direct correlation" between top financial performance and deep... Read more