Does Social Media Largely Influence Customer Relationship Management?

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Customer Relationship Management and Social Media

Customer Relationship ManagementThe relationship between a business and its customers is an important aspect of good business practices, and having longevity in the market. Businesses need to attract new customers, but also retain current customers, making customer relationship management (CRM) an important component.

Social media is an increasingly popular method of gaining customers and interacting with them. Many internet users are engaged with some form of social media, and the lack of business presence can immediately leave a negative impression with consumers.

Furthermore, companies that have outdated profiles on social media, or do not have an employee who regularly interacts with users, can be viewed negatively. Both, the lack of presence and lack of interaction can be perceived as a business that is uninterested in the views and needs of their customers.

Customer Relationship Management and Your Business

Information about a company or product can be quickly and easily shared through social media sites. The rate at which information can reach millions of individuals can be either negative or positive for the company involved.

Positive information such as recommendations, discounts or good experiences can serve as a source of free advertising, and easily funnel in new customers with little additional effort from the company.

Likewise, negative customer experiences can quickly gain momentum through the internet and result in harsh criticism from other individuals, and even reach media outlets. This high quantity of obvious negative attention can ruin customer relationships and create a sharp decline in future clients.

Business Social Media Profile

A company’s social media presence can give the impression of honesty and integrity to their customers and improves your customer relationship management. This is especially important when considering the type of information customers post on company pages, and how representatives of the company handle this information.

[message]Customers want an opportunity to express their opinions and experiences in an open manner, whether this information is negative or positive. A company that ignores or attempts to hide complaints will be viewed negatively by prospective clients. Good customer relationship management in social media seeks to acknowledge and resolve these complaints.[/message]

CRM and Social Media Improve Customer Support

The popularity of social media also improves Customer Relationship Management because it creates an environment that makes it easier for customers to interact with companies, and it encourages interactions that were previously neglected by customers.

Aspects of Customer Relationship Management such as answering questions and offering technical support are easier when integrated with social media. Important information obtained from customers in the form of surveys and other methods of data collection receive a higher response rate through integration with social media, due to convenience.

There are many ways in which social media has a strong influence on CRM. As these outlets continue to grow, and more advanced technology becomes available that easily integrates other aspects of CRM, companies will observe stronger influences of social media.

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