Customer relationship management, CRM, is “an approach to managing a company’s interaction with current and future customers.” A combination of technology and strategy, CRM methodology uses data to try and improve sales and turnover by analyzing every interaction, using those observations to drive strategy.
What is social CRM?
Social CRM is the natural evolution of “traditional” CRM techniques, adding social channels and relationships to those already being monitored. Social CRM tools provide native support for the data capture and analysis process.
Just like traditional CRM, social media CRM is about listening carefully to clients and prospects to identify potential opportunities. This means collecting and tagging relevant messages left on social platforms, ready for follow-up or further analysis.
How does social CRM work?
Any business engaging in social CRM should be monitoring a number of factors including:
- Posts or updates that mention your brand directly.
- Status updates that mention your brand, products or services indirectly.
- Status updates from your existing customers.
- Status updates from hot leads or key targets.
This data is vital to understanding your customers’ thought processes so that you can target products and services to their needs. You can also exploit opportunities to reach out to new contacts, offering help and advice and encouraging them to enter your sales funnel.
Social CRM is also invaluable for other customer-facing operations. By building a complete picture of every interaction with a customer, your service team will be fully equipped to provide sterling, personalized service to every individual. The sort of service that keeps customers coming back for more.
Although some mature CRM platforms have added support for social channels, they are not true social CRM tools. To get the very best results, your business should choose a platform that has been built from the ground up with social technologies at the heart of the feature set.
Where does social CRM fit into your social marketing strategy?
Successful social media marketing is heavily reliant on listening to chatter on each target platform, and to the specific conversations and sentiments of prospects. Social CRM tools collect that information and allow you to mine it for insights.
Your marketing team can then use that information to tailor future campaigns based on the preferences they observe. More importantly still, social CRM tools allow you to foster a relationship with existing customers, providing opportunities for future sales — Adobe one found that repeat purchasers spend on average nearly 5x more per transaction than first-time buyers.
The social CRM process is just as much about re-targeting existing customers as it is about reaching new prospects. As such, social CRM is a crucial part of your future marketing strategies.