Social Customer Relationship Management – Boosting SCRM for 2020
Table of Contents
Social customer relationship management or social CRM refers to various methods that form the basis of a strong social media presence and using it for customer relations and social customer relationship management.
Eventually, it’s a tool which is deployed for social customer relationship management over social media network.
The conventional social CRM machinery involves the collection and management of static data of customers, including their names, organizations, demographic information, and more. All this has changed with social CRM with its introduction.
Let’s dive deeper to understand the good concepts of
social customer relationship management.
Social customer relationship management or social CRM interacts with big volumes of unstructured data, which is raw data without any pre-defined modulation. This unstructured data is present in text-format, and sometimes also present in numbers, or values.
Social CRM is more diffusive than traditional CRM. Social CRM is also named as “omnichannel”, which is a continuous, seamless engagement that picks up in one channel, which was left last in another.
Social CRM incorporates the use of modern CRM features which includes elements of social media management. Social CRM, like conventional CRM, remains very oriented within the departmental boundaries of sales, marketing, and customer support.
Social customer relationship management has its blueprint laid out using some of the most common and vital strategies, that target customer building, which is loyal, efficient, and loves your brand because the business treats them well.
Social customer relationship management is majorly dependent upon its definition and basic social network account within the app systems, which does not require advanced algorithms.
These solutions are gripping as they allow complete interaction with the social account from inside the CRM. They completely depend upon advanced algorithms and statistical models to identify patterns within the unstructured social data.
The main motive and intention behind executing any social customer relationship management machinery, is to gain the confidence of the customers. Your customers are most likely an important part of your business, so gaining their love is important.
However, businesses have to be very careful regarding this conduct, as the audiences are too clever to understand, whether they be used to promote a brand merely for revenue, or taken care of, as and when needed. Hence paying attention to customer requests is prime vice and necessary.
Social CRM strategies that make a difference
Various strategies build the foundation of social CRM, amongst which some of them are described below.
Rapid and fluent responses
Customers are your assets, and hence the most crucial part of the social customer relationship management chain which is formed by making sure that swift, relevant responses have been provided to a customer’s queries. The response time should be as less as possible, and should be interactive enough.
Fan hub has revealed results, that 25% of social media users expect the businesses to respond to their issues, within an hour and not more. This target all though looks, like being demanding, and very much at disposal, however, if the CRM is a place, then the imperative of treating customers and making them a priority works very well.
Moreover, as per statics, 70% of customers, drift to brands and change them as per how they are being treated by the promoters and businesses. By replying quickly to your customers, you can get the game bigger, and better. Not just replying, but supporting with relevant data, and information holds as much importance as any other customer service.
Hence one can build a strong business by backing an even stronger customer base and initiating social customer relationship management.
Listening and social media presence of business
Strong social media, is a big driving factor for all the online businesses and essential for customer interactions building social customer relationship management. Hence social listening becomes an important tool.
This refers to employing various techniques to monitor how they are being treated and conducted on the social media platforms. Positive results are attained when, customers are treated well, and socially their queries and issues are solved in less time. This makes the consumer believe that they are being heard and not ignored in times of confusion or help.
An example of this can be, delta hotels in Vancouver, where a customer attending a conference tweeted that his room had a far-from-view sight. He did not use the hotel’s name, and only tweeted this, using the hashtag of the conference to get noticed over social media.
The next day, the hotel staff, changed his room and served him with a plate of dessert as well! As per a German utility company, they were able to gain 60% of potential customers through their social listening models and consumer interaction efforts. Almost 200,000 German euros were made due to this major change and inclination focusing on social listening.
Loyalty rewards and engage customers on social platforms
A loyal customer base is formed, by always keeping them engaged with new experiences and products or promotions, which increases their interests. Social customer relationship management is nothing without the consumer’s support.
Beyond merely responding to customer questions, businesses can take initiatives where they actively reward their customers time and again. As social customer relationship management gives a chance and opportunity to track and monitor customer interactions, it is easy to manage the audience and attend every customer.
Businesses must give back to their customers who comment, share, like their posts, by re-commenting over it, and exhibiting value. This act of kindness, lets the customers understand that their words are valued, and it just not for business prosperity’s perspective.
This movement will not just build customer loyalty but will let the world know that you have invested in your customers. For instance, when in Morton’s steak house, a customer was asked to deliver an order to the airport, when Morton’s landed, he not only welcomed the customer but joined him for lunch.
Social media CRM tools
To carry out all the executions and build a strong social customer relationship management foundation, one has to be well equipped with its working and tools, that support the entire process.
Natural language processing
Modern natural language processing is an application of a computational linguistic method that derives statistical patterns and meaning from a body of text. NLP is the study of language using samples of the real world, which curates many benefits from machine learning to process large quantities of unstructured data.
This is done by using probabilistic models to attribute weighted values to the linguistic parts of speech, which are nouns, verbs, adjectives, and more. This statistical NLP is compared to the older decision tree of computer algorithms methods of analysis.
Recent years have shown great results for NLP, in developing social customer relationship management amongst the parties. It’s application with cutting-edge deep neural networks, has made a difference and progress in language modeling and parsing, which provide the basis for text mining and social media sentiment analysis.
Text mining is also known as text data mining or text analytics. It pertains to a process in structuring text data, usually through parsing methods, to observe patterns within the structured data and submit it to a database.
Text mining allows the categorization of text by type, tone, and similarity, and also summarizing documents, extracting information and analyzing author sentiment. This relates majorly to social customer relationship management, which is textual data organization by descriptive terms.
Machine learning, also known to be artificial intelligence, recreates through algorithms the cognitive ability of humans to process information and identify patterns while making predictions.
Machine learning algorithms can be broadly characterized as “supervised” and “unsupervised” type. The former deals with feeding training sets of data in algorithms to orient predictive inferences while the latter provides no grounds for predictive accuracy.
Machine learning enables programs to derive highly complex statistical models and algorithms from vast sets of data in support of reliable, repeatable decisions for all predictable results. This has many social customer relationship management applications outside of social CRM.
This has many advantages as per the social customer relationship management perspective beginning from digital sales assistants to marketing campaign suggestions to recommended responses in helpdesks.
Analysis of sentiments
Sentiment analysis relies on subdisciplines of computational linguistics, including NLP and text mining that identifies and qualifies subjective emotional tones in bodies of text
Sentiment analysis often relies on documents relating to identify and qualify, to the voice of customers, such as reviews, survey responses, and social media posts, which scales sentiments as per the emotional polarity of words and phrases. Sentiment analysis is contextual and can qualify sentiment words concerning modifying parts of speech or phrases.
Sentiment analysis can be automated for a large collection of texts, which are blogs, online reviews, online news, and social media. However, existing solutions for sentiment analysis still rely on the human analytical component. Hence sentiment analysis serves as one of the most revolutionary tools for social customer relationship management.
Changing times and modern communication incorporates online mannerisms which is defined by particular social channels. For customer engagement and to establish a modern brand identity by deploying correct social customer relationship management tools and skills, is mandatory. Some of its major benefits are,
Social engagement with customers
Companies are well-versed and equipped in engaging customers so that they maintain a healthy social customer relationship management. This entails an intimate, casual, instantaneous voice. Active presence overall social networking sites engage customer confidence about its reliance and worth.
Moreover, constant participation with customers for product conservations offers an opportunity to understand the customer perspective about the brand and what they about it. This gives rising business start-ups to understand how their customer service affects them and whether they are reachable or not.
Complete customer view
Social customer relationship management is all about covering customers as a priority, on all social media platforms which customers use, like Facebook, Twitter LinkedIn, google+, Pinterest, Instagram, websites and social customer relationship management brings together and unifies all sorts of communication modes.
Hence a 360-degree quantization is possible using all the available social media platforms where a strong customer base exists, and then advancing businesses over it, or a complete customer review.
Social media analytics
The extraction of insight from the biggest quantity of unstructured social media data can provide a Realtime report of brand sentiment and adoption from the voluntary conversations held among customers and between them and company representatives.
Social media analytics gives a great perspective and informs campaigns, lead qualification and scoring models, sales approaches, and customer support with social specific KPIs, hence this triggers social customer relationship management positively.
Social customer services
Customers in recent times, with advancing internet services and social media presence, turn to social media for product complaints before contacting the company personally. Customer queries give businesses an amazing opportunity to foster meaningful engagement and build their brand of courses with relevant social customer relationship management skills.
Also, indirect mentions allow for active customer support to potentially reverse negatively trending brand mentions, and social customer relationship management solutions can also include for great engagement.
Social media management integration
Social customer relationship management often combines media integration with CRM features including sales pipelines, contact management tools, and other features. A company may have deployed a social media management tool, which does not necessarily pre-include the use of social CRM.
Many social CRMs integrate with social media management software and can bridge the gap between a high-functioning traditional CRM platform with cutting-edge social media capabilities that the management software provides.
Every business strategy comprises of certain principles it functions on, and thus it becomes a general protocol, before beginning or improvisation for betterments. These principles are,
Social CRM is an idea
Social CRM solutions are complementary ideas, which do not have an ‘either, or’ proposition. At some point it replaced the conventional methods, hence it is much subjective and improvable. The witty job can be identifying the potential of every solution for a specific problem.
Build a social media strategy
Social media strategy helps in laying down a pre-defined blueprint, that priorities the important parts from the rest. Building a strong media presence and working upon efficient strategy can be of great help.
Every customer has the potential
On social media when every day, people can interact on a personal basis with the product protagonists, they become accustomed to being engaged and treated personally. Hence every customer as an individual is important to the structure of social customer relationship management.
In the changing times, where efficiency can make and break every business backbone, using social media platforms to deliver the correct customer support is imperative. Social media has immense potential today, and transforming it in a business’s favor is what brings about what is called customer supported and strong empires.
Hence social customer relationship management is a skill to be mastered to transform your game and gain the confidence of your customers for a successful and loved brand.