CRM analytics can lead to more effective social strategies

More effective social strategies with CRM analytics

Listening and responding to social messages has become overwhelming for many organizations, but insufficient interaction poses a risk to client satisfaction. By utilizing the most advanced association management software, firms can ensure that all conversations are effectively tracked within the customer relationship management (CRM) system.

Destination CRM recently revealed that a new Gartner survey found top technology investment priorities will be data- and customer-driven. Business analytics are the most important area of investment, with 71 percent of firms expressing interest in increasing spending. Another 56 percent cited enhanced reporting, while 49 percent emphasized customer experience management. Gartner Vice President and Research Fellow Ken McGee stated during a presentation that more organizations will be looking to evaluate how technology can impact outcomes from a new emphasis on analytics, according to Destination CRM. Fred Gallagher, general manager of data management company VectorWise, told the source that he has witnessed the highest successes from firms that align goals closely with technology.

One of the most crucial considerations for success will be the deployment of social technologies for marketing, client interaction and support. CXOToday reported that social media will play a key role in firms' long-term objectives, particularly with best practices for engagement and advanced analytics. The source further explained that social media has empowered people to voice concerns at their own convenience for wide exposure, which has forced organizations to be capable of rapid action to resolve issues.

Analytics drive social value
Bhupendra Khanal, CEO of Simplify360, explained to CXO Today that the value of social media lies not in mere engagement, but in the analysis and metrics of those interactions.

"Do not assume that you have enough intelligence required to run the business," he told the source. "You probably have the intelligence to run the business but you might be just missing enormous opportunities by not mining this valuable data and getting business insights."

Khanal further asserted that social CRM is the future of marketing. He explained that many organizations struggle to determine what percentage of followers and fans are actual clients, and how social engagement is impacting profit. Proper CRM integration can ensure that firms have a deeper understanding of how social efforts actually affect client acquisition, retention and loyalty.

"Current business scenarios call for a real time intelligence monitoring system, and no medium can deliver it better than social channels," Khanal told the source. "The social media stream is real-time and there are enough systems that provide intelligence on brands, competitors and markets in real time … Welcome to the intelligence revolution."

By integrating social analytics into an overall strategy for leveraging real-time analytics, organizations can improve marketing strategies and overall decision-making to promote client satisfaction and a competitive advantage.

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