executive summary pt 2 - IBM GLoBaL BusIness servIces...

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IBM GLOBAL BUSINESS SERVICES Customer Relationship Management Executive Summary From social media to Social CRM Reinventing the customer relationship The second in a two-part series The pressure on companies to embrace social media is fierce, with more than two-thirds believing their business will suffer if they don’t engage. Social media is ideally suited for customer collaboration and offers opportunities for reach, access and immediacy that simply don’t exist with other channels. Today, nearly 80 percent of the companies we surveyed, anxious to interact with customers where they are congregating virtually, have a presence on a social networking site and are aggressively launching social media initiatives. But less than a third feel confident they have the strategies in place to make these efforts flourish. The strategy shift While the majority of companies have many elements of a social media program, progress toward an integrated Social CRM strategy is not linear, the challenges are deep and uncertainty abounds. There’s no turning back. Sixty percent of executives say social media is fundamentally going to change the way they do business. Businesses’ social media footprint has grown rapidly, echoing that of consumers. But when we asked what companies are doing with social media, we found most who use it are now also grappling with how to mange its impact. Few companies have it fgured out. Social media initiatives have sprouted up organically across functions, with more than 50 percent aligned to marketing. But key operational aspects of a Social CRM strategy – defined KPIs, flexible business Overview Social CRM is a different way of thinking about customer relationship management that focuses on using social media to enhance customer engagement. Are
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This note was uploaded on 02/26/2012 for the course CSR 480 taught by Professor Staff during the Fall '08 term at Purdue University-West Lafayette.

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executive summary pt 2 - IBM GLoBaL BusIness servIces...

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