Research Paper on "Social Media and CRM"

Research Paper 4 pages (1214 words) Sources: 5

[EXCERPT] . . . .

Customer Relationship Management

Social Media and CRM

Customer Relation Management

The conventional methods that governed customer relationship management in the earlier days have certainly changed for the better. Customer relationship management (CRM) is no longer the straight, defined process that always existed. It has become a very hot topic in the business world with organizations and business people seeking all means and ways to maximize opportunities and get more customers. The risks and rewards have certainly increased as so has the competition. More importantly, the challenge lies with organizations to find these opportunities and maximize their uses. Today, customers are presented with a wide variety of options, from which they can make their choices, it is therefore, imperative that businesses make use of the social media which has become more identified with the people.

Discussion

Indeed, social networking sites such as You Tube, Facebook, Google, and Twitter provide a platform through which organizations can reach very many potential and existing customers. This arises out of the very fact that these sites are normally frequented by so many people at every single instant. In this regard, the proper use of social networking sites by an organization can certainly provide an effective way through which sales can be maximized. This is realized in the manner in which people sell on eBay and other online sites that provide such avenues.

The new media is not only displacing the common ways of customer relationship management Miller, 2009.

It is providing greater opportunities for companies and organizations to improve their images and relationships and develop better strategies through the new media era. In any case, the greater advantage of the social media sites is the common fact that it enables organizations to reach many clients and thereby increase their presence in the market. Presently, it has been established that over twothirds of the modern marketers have delved into the aspect of social media as a way of reaching many people. However, many marketers are still in oblivion regarding this important aspect and do not really understand how these tools can really help them in the trade.

More importantly, it is imperative to realize that different organizations are certainly at different stages in the adoption of social media sites as avenues for showcasing their products and maximizing on sales. This is actually to be expected to consider that these organizations have different needs for the social media. In the same way, digital marketing favors certain organizations more than others. This creates a lot of challenges for many marketers on how and when to use digital marketing effectively and whether an investment in these sites is likely to yield any positive return for the organization Lovett, 2011.

However, the benefits of the use of social media to an organization are always too far beyond the conventional ways of doing business. Across the world, marketers can actually confirm that they have increased sales and their presence courtesy of the great opportunities availed by the social networking sites.

In the present globalized business environment, it is important that organizations build very vibrant customer relationships that transcend the borders of geography and other barriers. Studies have demonstrated that social media has revolutionized the manner in which organizations approach the whole concept of customer relationship Boston College, 2010.

This arises out of the fact that such, media provide avenues through which consumers can relay their satisfaction or complains to the marketers regarding the products or services on offer. In the same way, social media platforms provide a ground through which many different consumers can interact and share their thoughts and experiences regarding different products. This greatly boosts the… READ MORE

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