What does the term "Social CRM" mean ? As defined by some wisdom from fellow advocate Paul Greenberg Social CRM Definition
“CRM is a philosophy & a business strategy, supported by a technology platform, business rules, workflow, processes & social characteristics, designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted & transparent business environment. It’s the company’s response to the customer’s ownership of the conversation.” (also read his 2009 review of this space on ZDnet)
CRM has evolved to incorporating a social aspect by adding the features and functions of most popular social networking sites. Contact management now includes customer interaction, internal and external collaboration, locating experts, soliciting feedback, extended customer service are some of the social aspects taht are evolving out of of traditional CRM with social components.
One of the problems faced by organizations is how to incorporate these benefits of SCRM and manage it accordingly. These problems stem from additional administration, storage and retrieval, meta-tagging, archiving and content management are a few additional extra pieces that are added to social CRM.
Traditional CRM vendors are trying to adapt to this new business model and this new enterprise created software. As put by fellow analyst Jeremy Owyang SCRM vendors are not cutting the mustard. There are a few categories that are mainly considered social CRM
- Traditional CRM with Social integration
- Community platforms offering CRM
- Brand monitoring offering social CRM
- Social media with Twitter capabilities
- Social Customer experience
- Sales 2.0 and Social graph aggregation
- CRM applications and plug-ins
- Social networks and others
These are considered the main categories in social CRM. As organizational usage increases and evolves to newer, integrated and collaborative sharing vendors will be playing catch-up for a little while until this market matures a little bit. Then mobility on top of this is a rapid evolution that will occur within this software arena and how they react may affect marketshare and success in this area. As any software matures newer vendors will enter and traditional vendors will be at an advantage more towards the brand recognition side of the software market.
With whatever changes occur in this space from the market and organizational usage evolves and differs from company to company it still becomes an exercise in finding the best fit for the organization and catering to the specific functions you are looking to solve. A software evaluation methodology will still need to be considered as it just keeps getting more complicated and sometimes unnecessarily so. This is a software name that is ahead of the actual software being delivered for now.
Organizations should create, review, monitor social network strategies and policies as there is no magic formula to convert buzz to ROI and money for the business. Sure there are many ways to do convert buzz but is that an included part of the strategy? This can be detrimental as well as it creates a possible time wasting scenario as perceived by C-level employees.
If you feel we forgotten a category feel free to contact us at info@eval-source.com or for vendor briefings for your CRM product. Also see our related post platform provides foundation for growing your business - Well maybe