On 3
Topic 1 - Beryla
Customer Relationship management is a medium that is utilized to implement great exposure to consumers through social media platforms, allowing consumers to share their experiences about brands with their online social connections. This is an excellent way to get merchandise noticed through word-of mouth (UMUC, 2022, p.3). CMR allows brands the opportunity to acknowledge and respond to consumers through social media.
An online store like Company One should combine CRM and social media to increase tracking of benchmark, and the ability to capture their consumers through their favorite channels. By the company combining CRM with social data, it can see a full representation of its consumers, permitting personalized responses and efficient interactions (Braden, 2021). Furthermore, combining CRM to your social data, provides the ability to compose authentic decisions regarding the future needs of your consumers, and propose relevant purchases. In knowing which merchandise consumers are attentive to, what they are sharing, and which merchants they follow; it allows the brand to create specific merchandise for their targeted audience (Branden, 2021).
The impact this has on the brand is that it targets different ways to maintain consumers while focusing on ways to target potential clients, this increases the recognition of the brand and in return increasing sales. This also prompts the relationship between the company and its consumers to maximize (Soltani et al., 2018). Disregarding social media from the company’s CRM strategy can result in a negative effect to the brand as there will be fewer insights, and the inability to plan effectively and strategically.
CompanyOne can use social CRM to track and engage its customers across different social platforms by monitoring traffic, this allows the company to know how many consumers are visiting their sites and how each click is converted into revenue. Furthermore, it enables the ability to better understand the needs and issues of consumers. A CRM tool aids in navigating information to give a company a broad-metric analytic summary approaching from every social media platform. In addition to that, it allows the company to view into demographics and pick up on distinct classifications of content that may be relevant to prospective clients (Zunenshine,2019).
To ensure a successful social media platform, CompanyOne should Identify the problems and goals of the company and analyze what they may be missing from a consumer’s point of view. Secondly, the company should engage and talk with their consumers and not at them. CampanyOne should ensure that there are two-way conversations going on with its consumers and respond to them in a timely manner.
There are several challenges the company can face, the first being cost. The greatest challenge when executing CRM is the cost, specifically if the process is done in a rushed manner without proper planning. Secondly, is the absence of defining clear goals. Prior to implementing the system, the company must have a laid-out plan on which direction the company is taking, future expansions, how much security levels are needed and how to manage the breach between what the company implements and what the software provides. Lastly, the company might face security and data protection issues, this is due to all data being kept in one place (Thakral, 2021).
E. Bailey- Project 3, Topic 1
What is a social media CRM platform? Why would an online merchandise store like CompanyOne combine CRM and social data? What is the impact on its brand? Explain.
Social media customer relationship management (CMR) is a forum to engage customers using social media by encouraging them to share their experiences about a brand with their connections (UMGC, 2022). Word-of-mouth marketing can help spread awareness about a brand and gain attention; however, to be effective, brands need to respond directly and quickly to their customers on its social media platforms. CRM allows brands to pool data from their platforms and analyze historical complaints to improve customer satisfaction (UMGC, 2022). The best social CRM platforms combine social media CRM tools with social media CRM software to create a better customer experience. With the CRM tools, marketing strategies can be developed and sales leads generated, while the CRM software helps with branding and marketing content management (Scheiner, n.d.). Overall, CRM monitors the number of visitors to the brand's platforms, the amount of engagement by fans (likes, comments, etc), as well as brand mentions by followers (Scheiner, n.d.).
The combination of CRM and social data allows an online merchandiser to gain knowledge and data about its customers and the conversations they have with other consumers. Using this method, brands and organizations can better collect customer feedback and queries and provide customers with accurate and helpful answers and information about their brands (Hall, 2011). Increasing exposure to brands and products through social media marketing has become one of the most successful forms of digital marketing for organizations. Social media platforms such as Facebook, Instagram, LinkedIn, YouTube, Twitter, TikTok, and Snapchat topped the list of social media platforms used by marketers worldwide in 2021. Using these platforms, advertisers can gain momentum in their brands and increase their customer base. As such, social media can be used for both business-to-business (B2B) and business-to-consumer (B2C) purposes.
How can CompanyOne use social CRM tools to track and engage its customers across different social platforms? What should CompanyOne do to ensure a successful social CRM strategy? What challenges can it face? Explain.
Using social CRM tools, CompanyOne can capture data about all its followers across multiple social platforms while also keeping all customer conversations at hand, thereby improving their customer service and support. CompanyOne can also use CRM software to plan, post, schedule, and manage marketing and branding content across social media platforms, which results in improved CRM strategies, marketing strategies, and sales lead generation for the company.
As a result, the company can provide better customer service, build new relationships, understand customer needs, improve the brand's reputation, control its social media presence, and integrate social media into marketing, sales, and services. The use of CRM tools and software does have some cons, however. CRM tools can be expensive, with plans ranging from $1000 per month for a basic plan to $40,000 per month for an enterprise plan (Scheiner, n.d.). Although there are some CRM tools that are free or much cheaper, they wouldn't fulfill CompanyOne's needs because they lack the features that would be beneficial to the company (Scheiner, n.d.).