Technology Analysis - Social Networking as an Avenue for CRM
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![Ashley Leonzio<br />BMIS 2056: MIS Practicum <br />Technology Analysis <br />Social Networking as a Avenue for Customer Relationship Management (CRM)<br />Introduction<br />Customer Relationship Management (CRM) is a customer oriented business strategy that tries to build and to strengthen long term profitable customer relationships with integrated and individual marketing, sales, and service concepts. Notice that CRM is not a “product,” rather it is a strategy that needs to be adopted by all levels of an organization in order to be effective. The implementation of a CRM system, such as Microsoft Dynamics or Salesforce.com, is only one of the aspects necessary for an organization to launch a successful CRM strategy. <br />In 2007, Paul Greenberg, President of The56Group, LLC and best-selling author of “CRM at the Speed of Light: Essential Customer Strategies for the 21st Century,” noted in an interview with ITBusinessEdge.com that one key feature missing from CRM systems is social networks. Wikipedia defines a social network as <br />“a social structure made up of individuals (or organizations) called quot;
nodesquot;
, which are tied (connected) by one or more specific types of interdependency, such as friendship, kinship, common interest, financial exchange, dislike, sexual relationships, or relationships of beliefs, knowledge or prestige.”<br />Greenberg believe that customers need to be engaged, not directed, and he felt that social networks could aid in this effort. Greenberg isn’t the only one who is trying to jump on the corporate social networking bandwagon either. In the same interview, Greenberg explains how Procter & Gamble's is building social networks to engage customers because they feel that over 50 percent of all innovations, technologies and ideas are to come from outside their company walls. Oracle is also interested in this topic as well, although they are approaching this new trend from another direction. Instead of developing an “add-on” social networking feature, Oracle is plans to skin their CRM with social networking. <br />More recently, CRM vendors have been developing social networking applications into their products to develop what is now known as Social CRM and CRM 2.0<br />What’s in it for me?<br />According to Graphics.ms, 47% of online adults (30+) use social networking sites and 73% of teens and young adults are a member of at least one social network. Social networking sites provide direct access to this unimaginably large number of people. There is a wealth of customer information that organizations cannot afford to ignore. Some of the features and capabilities of social networking options include:<br />,[object Object]](https://image.slidesharecdn.com/ashleyleonziotechnologyanalysis-101018152859-phpapp01/85/Technology-Analysis-Social-Networking-as-an-Avenue-for-CRM-1-320.jpg)
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Technology Analysis - Social Networking as an Avenue for CRM
- 2. Real-time access to customers that aids in obtaining the wisdom of the crowd to help organizations make timely decisions
- 4. Connectivity to content feeds
- 5. Mobile connectivity and real-time global reach
- 6. APIs to existing networking sites (integrate all networking into one)
- 10. Reduction in agent-assisted email
- 11. Increase in first-contact resolution
- 12. Increase in agent productivity
- 13. Increase in product ideation
- 14. Boost in relevant Web-site content and reduced search-engine optimization costs
- 16. Start slowly and use small successes to promote efforts
- 17. Experiment with different tools (most are free!)
- 18. Monitor for inappropriate content
- 19. Educate the organization on appropriate use and how to leverage technology <br />For additional sources of information visit:<br />Business-software.com for Social CRM Vendors<br />Twitter.com<br />Facebook.com<br />XING.com<br />Yammer.com<br />Linkedin.com<br />Youtube.com <br />Healthcareandthesocialweb.ning.com for information on social web and healthcare<br />E-patients.net<br />Bibliography BIBLIOGRAPHY Agent Genius. (2009, March 10). Social Networking Made Easy. Retrieved Ocotber 17, 2010, from AgentGenius.com: http://agentgenius.com/wp-content/uploads/2009/03/social-networking-sites.jpgAll, A. (2007, Feb 23). CRM + Social Networking = Customer Satisfaction. Retrieved October 17, 2010, from ITBusinessEdge.com: http://www.itbusinessedge.com/cm/community/features/interviews/blog/crm--social-networking--customer-satisfaction/?cs=22403Bennett, E. (2010, August 28). Hospital Social Network Data and Charts. Retrieved October 18, 2010, from ebennett.org: http://ebennett.org/hsnl/data/Buhl HU (2010) Customer Relationship Management Lecture Slides. Department of Information Systems Engineering & Financial Management, University of Augsburg, GermanyBusiness Software. (2010). Social CRM: What is it and How It Will Benefit You. Retrieved October 17, 2010, from Business-software.com: http://www.business-software.com/crm/social-crm/socialcrm-what-it-is-and-how-it-will-benefit-you.phpEnterprise Uses of Social Networks . (2008, August 28). Retrieved October 17, 2010, from eWeek.com: http://www.eweek.com/c/a/Video/Enterprise-Uses-of-Social-Networks/ Graphis.ms. (2010). Social Networking Statistics 2010. Retrieved October 17, 2010, from Graphics.ms: http://graphics.ms/blog/877-social-networking-statistics-2010/Grillis, A. (2010). Social Media in Healthcare: Still in the Incubator. Retrieved October 18, 2010, from Gartner.com: http://blogs.gartner.com/road-notes/2010/01/07/social-media-in-healthcare-still-in-the-incubator/Hinchcliffe, D. (2009, July 27). Ten top issues in adopting enterprise social computing. Retrieved October 17, 2010, from ZDNet.com: http://www.zdnet.com/blog/hinchcliffe/ten-top-issues-in-adopting-enterprise-social-computing/581IBM. (2010). LotusLive Collaboration Suite. Retrieved October 17, 2010, from Lotus Live: https://www.lotuslive.com/en/pricing/collaboration Market Sentinel. (2009, Sept 29). Social Network Analysis: From Obscurity to Enlightenment. Retrieved October 17, 2010, from marketsentinel.com: http://www.marketsentinel.com/blog/2009/09/social-network-analysis-from-obscurity-to-englightenment/Microsoft Dynamics CRM Partner Produces Microsoft's Social Networking Solution. (2010, June 24). Retrieved October 17, 2010, from We Blog CRM: http://www.blogcrm.com/microsoft-dynamics-crm-partner-produces-microsofts-social-networking-solution.phpMuscio, C. (2009, July 11). The 7 Benefits of Online Customer Service Communities. Retrieved October 12, 2010, from destinationCRM.com: http://www.destinationcrm.com/Articles/CRM-News/Daily-News/The-7-Benefits-of-Online-Customer-Service-Communities-55084.aspxReeves, S. (2010). Innovation and Collaboration in Healthcare with Social Networking. Retrieved October 18, 2010, from Avantrasara: http://avantrasara.com/2010/01/12/innovation-and-collaboration-in-healthcare-with-social-networking/Salesforce.com. (2010). Chatter. Retrieved October 17, 2010, from Salesforce.com: http://www.salesforce.com/chatter/editions-pricing.jsp Twitter. (2010). Twitter 101. Retrieved October 16, 2010, from Twitter.com: http://business.twitter.comWainewright, P. (2008, March 11). Oracle skins CRM with social networking. Retrieved October 17, 2010, from ZDNet.com: http://www.zdnet.com/blog/saas/oracle-skins-crm-with-social-networking/473Wikipedia. (2010, October 15). Social network. Retrieved October 17, 2010, from Wikipedia, the free encyclopedia: http://en.wikipedia.org/wiki/Social_network<br />