executive summary pt 1

executive summary pt 1 - IBM GLoBaL BusIness servIces...

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Customer Relationship Management Executive Summary From social media to Social CRM What customers want The first in a two-part series With the worldwide explosion of social media usage, businesses are feeling extreme pressure to be where their customers are. Today, this hub of customer activity is increasingly located inside a social media site. However, using social media as a channel for customer engagement raises interesting challenges for traditional CRM approaches. With social media, customers (and their highly influential virtual networks), rather than companies, are now driving conversations. Companies need to embrace this shift with a new strategy, Social CRM, which recognizes the role of business today is to facilitate collaborative experiences and dialogue that customers value. What do consumers value? Consumers worldwide are swarming to social media, but most interact only occasionally. Nearly 80 percent of the online consumers we surveyed have at least one account on a social networking site, and almost half have accounts on media-sharing sites. But only 5 percent say they nearly always respond to others’ comments or post original content. It’s about friends and family – not brands. For most consumers, social media is focused on family and friends and accessing news and entertainment – not interacting with brands. More than half don’t even consider engaging with businesses via social sites. Of the 45 percent who do interact with brands, the majority say they need to feel a company is communicating honestly before they will interact. Overview Today s businesses are fervently building social media programs to get closer to customers. But are customers as enthusiastic? Most do not engage with companies via social media simply to feel connected. It turns out, customers are far more pragmatic. To successfully leverage the potential of social media, companies need to design experiences that deliver tangible value in return for customers time, attention, endorsement and data. IBM Institute for Business Value
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executive summary pt 1 - IBM GLoBaL BusIness servIces...

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