For many people, social media is an extension of themselves. They constantly check their feeds from Instagram, Facebook and Twitter, scouring for information.
This is excellent news for marketing agencies, as customers can be attracted to businesses through this medium. When customer relationship management is combined with social media, the product is social CRM (SCRM). In this post, we’re going to talk about what is social CRM, benefits of using Social CRM.
Social CRM can help you boost your business, but if you are shaky about your understanding of it, we’re here to help. Here, we will discuss social CRM and how it can grow your business.
What Is Social CRM?
Traditional CRM is more rigid in its methods. It assigns tasks to specific departments and limits its audience to the intended target only. The rules of conventional CRM are, company-driven, which might work against customer choices.
Social CRM or SCRM uses information from social media metrics to create rules. Therefore, the content and delivery practices are based on customers themselves. The rules are flexible and ensure that all customers are reached through their preferred medium.
Rather than consistently shoving the “buy, buy, buy” call-to-action, SCRM interacts with customers in a two-way process. This “social listening” is a way to regulate CRM through outside-in processes.
What Is Social CRM Made Of?
While you research or begin implementing social CRM, you will come across some critical components of social CRM. Let’s briefly review these:
1. Sentiment Analysis
Sentiments are thoughts and emotions that we share with other people. Social media lets people communicate these with each other to initiate discussions and express ideas.
social CRM combs through social media activities such as posts, surveys and comments to find connections between your customers and their opinions. If they have key phrases or polarizing connotations that define them, SCRM will highlight these.
Although machine accuracy is not sensitive to nuances like irony and sarcasm, it helps understand your customers’ preference.
2. Machine Learning
Some people are wary of machine learning, but it will inevitably become important in the future. One common application of machine learning is artificial intelligence. We can train an AI to use available data to predict trends in our customer preferences.
3. Text Mining
Through monitoring your customers’ posts about your company, you can find patterns. Text mining sifts through text data to spot these trends to recognize changes in customers’ mood.
This feeds back into SCRM, where you can get reviews on whether customers liked your product or have come around to it.
4. Natural Language Processing
An extension of text mining, natural language processing uses parts of speech to identify patterns. It helps you get the feel of customer messages on social media.
Why Do You Need Social CRM?
Perhaps a slight understanding of what social CRM does is not convincing enough. But think about it.
As a business, you want to track your brand mentions through followers, engagement and traffic. These help you evaluate the success of your marketing campaigns using real data.
SCRM helps you enter relevant services in the market and find the right audience to target. This can capture leads and make otherwise unlikely sales. Managing social media is one thing, you want to take it a step further and advertise on it.
Your social customer support improves significantly with SCRM. This makes customers recommend your brand in their social circles too.
If brand loyalty and customer advocacy are improving, why would you not get in on the action?
The Benefits Of Using Social CRM
If these ideas don’t have you on board already, we are sure you will change your mind after knowing about the five areas that SCRM has the most impact in. Here are the benefits of using social CRM-
1. Relationship Nurturing
Through SCRM, your relationship with your customers becomes more informal. You can become “friends” or “followers” with them, helping you collect information about them. You can find out about milestones in their lives, such as if they graduate, move to a new country or start a family.
In a non-intrusive way, you can improve your communication with them. Including such subtle information can help improve your professional relationship.
2. Competition Review
Chances are that your competitors are also using social CRM. You can cash in on this in two ways. The first, riskier one, is to try to convert their customers to your brand. This does not always work and can come off as sly.
A better idea is to keep track of what their customers say and then avoid making the same mistake yourself. By studying their strategies, you can gain an edge on the competition.
3. Boosting R&D
Prediction is one of the main assets of social CRM. It can analyze and predict trends, which is undoubtedly great at the start of the year. However, events during the year can be drastic enough to change these predictions.
You can stay on top of these latest developments through SCRM, maintaining your customer base while winning over new ones. By being better equipped to serve your customers, you can foster a sense of satisfaction and loyalty.
4. Improve Internal Working
A major problem in companies is the communication gap between sales and marketing teams. This affects your performance as optimization falls rapidly. Your teams might be working on the same task, or even worse, contacting the same customer.
When you use SCRM, internal communication improves. This keeps customers happy and makes the office space more productive.
5. More Conversions
Customers like being reached out to through personalized communication. This means that if the information is tailored to them, they are more likely to respond to your engagement strategies.
SCRM enables you to gather information on your customer to develop specific outreach material. Knowing more about their background tells you about how they will react to different forms of communication.
This acts as a cheat sheet into their lives, helping you personalize your interactions, giving you insights and making conversions.
Social media CRM uses information that your customers provide to improve their experience. It is more customer-centric than traditional CRM and incorporates.
language, tone and discussion topics. By combing through data, it can help you initiate communication with your customers, make them happier and raise conversion rates. Hope by now you understood what is social CRM, benefits of using social CRM.