Social CRM: A Must Read Report for Companies with High User Attrition

While we increasingly adopt the social tools such as Facebook and Twitter as a method for connecting with other users to post and ask for information on products and services, companies are finding it hard to catch up with the fast paste of the social web. As a result, they continue to see customer attrition and get left out of the conversation.

In the newly published report “Social CRM: The New Rules of Relationship Management”,  Jeremiah Owyang and Ray Wang of the Altimeter Group advocate tha companies should take an organized approach using enterprise software that connects business units to the social web.

7 categories that tie directly to real business use cases

The report , which took six months to complete,  reviews 18 use cases for using social CRM tools including: marketing, sales, service and support, innovation, collaboration and customer experience.  See it embedded below (under open-research license)

18 use cases of social CRM - Is your company involved in the social web?

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Eze Vidra

General Partner, Google Ventures at Google
Eze is a General Partner at Google Ventures Europe. Before joining GV, Eze started Campus London, Google's first physical hub for startups, and led Google for Entrepreneurs in Europe. He's an experienced product manager and startup mentor. In 2012 Eze founded Techbikers, a non-for profit supporting children education in developing countries.
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  1. “It is easier to keep an existing customer rather than trying to find a new one”.

    Companies know their bottom line is directly impacted by repeat business and without it, the business can struggle. Customer Relationship Management Marketing can generate new opportunities, repeat business and most of all, additional revenue.

    Whether large or small, each and every business is dependent upon their customer relationship strategy. All companies should be driven by their customer wants and needs, otherwise they can struggle and eventually fail. Aligning client needs with company products and services is critical in client retention and company growth.

    CRM systems help track every aspect of a customer through sales and into ongoing support. Many companies fail to utilize their own client base for revenue generating opportunities. Through these systems, marketing other products and services to existing clients can create “Starburst Opportunities” that can add to the bottom line with minimal expense.

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    http://gravitygarden.com/build-customer-loyalty

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  4. Pingback: Reading (and recommending)’Breathe Social’: The New Rules of Relationship Management, another view of Altimeter recent report « Fredzimny's Blog

  5. Pingback: Watch this Mitch Lieberman video: Social Business through Social CRM @CustomerThink « Fredzimny's Blog

  6. Pingback: Jeremiah Owyang’s “Altimeter Report: The 18 Use Cases of Social CRM, The New Rules of Relationship Management”