This article was updated on April 8, 2021.
Social CRM is integral to the success of one’s business. Let’s start with Salesforce’s statistics showing the immense impact of the socially connected CRM:
- 79% of Salesforce customers reported improved customer service
- 63% – increased customer retention
- 55% – reported increased customer loyalty
- 54% – increased sales revenues
- 89% of respondents said social media increased their brands’ exposure
- Nearly half reported that actively spending just 6 hours a week on social media reduced overall marketing costs.
All these statistics show that social CRM delivers real commercial benefits and makes businesses more successful. Let’s take a closer look.
“Companies over-value followership and under-value participation. Yes, you can go out and buy 1000 followers. But if they all ignore you from that point on, they’re worthless.”
-Ian Lurie, President of Portent
You will get comprehensive information about your paramount consumers- backgrounds, interests, habits, and purchasing behaviors. It will help speed up the selling process by recognizing the leads that are most likely to be turned into deals.
The customer contact record will contain all related messages, events, and deals, in addition to the live social stream of the contact.
Social CRM will provide your customer service team with real-time data on the client’s thoughts and emotions. Use the information and analyze it to make strategic changes and take action to improve customer experience.
Did you know that providing a solution with social CRM means that you can access extremely comprehensive information and metrics for your clients? We’re talking about demographics, goals, interests, buying behavior, and much more. With this type of data, sales representatives will understand their target market better and provide an improved selling cycle by concentrating on authentic leads and carrying a high probability of close-rate.
When there is no means to analyze it, the sea of information produced on social media sites will eventually be treated as a mess. When combined with the right tools, social CRM will give you valuable insights into your social media campaign’s efficacy. This will enable you to discover valuable trends in consumer behavior. This will also eventually allow you to represent your customers outstandingly.
Collecting all of these social-centered data can help another major department in your business as well. Marketing always seeks new metrics and ways to narrow down a target audience. Social data about your potential customers is just another tool that can be investigated and modified into a marketing campaign that is more specific and efficient.
Good word of mouth can do wonders for your company, while a single negative comment can cause catastrophic harm. You can continually track what’s being said about your product. When there are any defects, they can be fixed immediately before negative customer reviews begin to ruin a company’s reputation. Similarly, customer complaints can be resolved as quickly as possible. This will ensure high levels of customer satisfaction.
Your latest posts, updates, likes, and requests are easily skipped on Twitter and LinkedIn. According to Buffer, Facebook is a better site to illustrate inbound communications, but at the same time, it’s another social media channel that you need to monitor. With social CRM, you will be able to see a stream of all your latest messages in one location so you can quickly read and respond to great opportunities for better interaction.
Today, customers who have access to enormous amounts of information know exactly what kind of product they want to purchase in the future, as it reflects their web-behavior. Social CRM offers you the opportunity to think ahead and create goods that consumers wouldn’t expect on the market soon.
…And increases marketing ROI
Another benefit of social CRM is marketers’ ability to identify new aspects of the market and plan customized marketing strategies and promotional offers. That’s another benefit of social CRM. This will be shown by improved efficiency, increased distribution of the company’s capital, and the desired ROI.
Two-way integration between your social CRM and sales, marketing, and customer support departments takes you into all sorts of new possibilities for customer interaction. It improves the scope of your contact records.
The Final Thought
So, socially connected CRM has become a must. There are a lot of benefits to social CRM, as you can see. Your business can gain a lot of fuel by utilizing the abundance of information generated on social media platforms every day. Don’t hesitate! Implementing social CRM will help you stay ahead of your competitors.
Have any questions about data migrations and social CRM? Contact our experts!