Social Media in Customer Relationship Management Video

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  • 0:03 Social Media &…
  • 1:57 Be Actively Engaged
  • 3:23 Attract & Retain Customers
  • 4:58 Monitor Your Brand
  • 5:44 Lesson Summary
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Lesson Transcript
Instructor: Stacey Taylor

Stacey Taylor currently teaches college business courses and holds an MBA degree.

Social media has become one of the biggest ways organizations connect with their customers. This lesson will provide you with advantages and strategies for using social media to enhance customer relationship management (CRM).

Social Media & Customer Relationships

Do you remember what life was like before social media? It was much harder to access information, maintain social connections, and interact with people from all over the world. Social media has become an important part of how we communicate, share information, and stay connected. It was originally used for people to connect and communicate with one another. Now, social media has made it possible for companies to connect, communicate, and build relationships with their customers. Customer satisfaction is what all organizations strive for; when you combine social media with customer relationship management (CRM), the outcome can be a recipe for success.

Let's take a moment and briefly discuss what customer relationship management (CRM) is. CRM is a managing system used to track the interaction a company has with current and future customers. Imagine yourself in a world before the Internet and cell phones. How many phone numbers or birthdays would you be able to remember of close friends and family? Better yet, how easy would it be for you to remember all of their personal details? Now imagine an organization with say, 1,000 customers. How simple would it be for them to remember all of their customers' information based on human memory? Thanks to advanced technology, organizations can use the CRM process to organize their current and future customers' information while tracking their interactions.

Social media has enhanced the CRM process by making it easier for organizations to build engaging and authentic relationships with their current and future customers. For example, social media platforms such as Twitter and Facebook have allowed companies to track new customer leads while engaging with customers in social media conversations. However, positive results can only occur if the CRM process and social media combined are used effectively.

Be Actively Engaged

Social media has created virtual communities where consumers go and communicate about the latest trends and seek information. Conversations that used to be held face to face are now being held on social media.

One of the first things an organization should do is choose the social media platforms they plan to use and make sure they are actively engaged. With this new digital era, consumers are fast forwarding through commercials, avoiding slick talking salesmen, and ignoring marketing print ads. This is why it's important for companies to use social media to their advantage and get closer to current and future customers. They can post real time updates such as last minute sales or products that just sold out. For example, food truck companies use Twitter to post their menus, where they will be during the day, and for how long. This allows them to communicate with their customers quickly in real time.

Social media platforms also allow companies to engage in conversations where they can speak with consumers, ask questions, answer questions, and connect with them on a more personal level. Companies can use social media to launch new products and services, giving customers the opportunity to leave comments and feedback about the product and/or service. Whether the feedback is positive or negative, engaging in conversations with customers about a product or service can promote brand awareness and visibility along with innovation that can result in new products and services.

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