6 Ways Social CRM Strategies will Increase Lead Generation in 2013

Social for CRM (Customer Relationship Management) or social CRM is a mutually beneficial and highly engaging business strategy that strengthens cloud-based communities, business organisations and their relationships with customers by creating new and enhanced opportunities for organisational functions like sales, marketing and customer service. Customer-company relationships are redefined too.

A social CRM strategy encompasses processes and software which create linkages between customers, organisational employees, partners, agents, and prospective clients on two levels. At the first level, it enables intra-group interaction and on the other level, it facilitates inter-group interaction, on a larger scale. When all these interactions reinforce sales, marketing and customer service, the solution or strategy is termed as 'Social CRM'.

The interactions surrounding a social CRM strategy include a whole range of business activities. However, the spotlight remains on leveraging social networks to expedite marketing and sales campaigns/ promotions and resorting to crowd sourcing in order to develop new product concepts, enhance the quality of services and create solutions for existing as well as anticipated problems.

The 6 key benefits of an effective social CRM strategy
Social CRM allows organizations to interact with customers through their preferred channel and at their convenience thereby capturing and generating experiences that are natural and more heartfelt.
  • Elevates brand visibility and awareness - social campaigns, user generated reviews/ comments and related conversations on today's most popular social channels improves customer perceptions and generates fresh leads.
  • Drives higher web traffic thereby increasing advertising revenues - sharing links and displaying ads on social networks with content targeting specific customer segments ensures better brand visibility and more website visitors.
  • Assists sales through a pool of contacts generated - social profiles and inter-related connections help sales persons understand prospective and existing customers along with their preferences and interests.
  • Increases lead volumes - leads can be captured from social networks and assigned to the most relevant logged-in user through social CRM to hasten the follow-up and conversion process.
  • Provides a platform for customer generated reviews - user generated reviews are the best way to cost-effectively increase lead generation through word-of-mouth advocacy. Facilitating easy access through any web enabled device to your company's social pages ensures feedback can be readily shared by customers and leads around the clock.
  • Capitalizes on valuable feedback captured through various social communities - companies can continually improve their products and services by analyzing social conversations to understand needs, expectations and mindsets of their existing and potential customers along with those of their competitors.
Incorporating social networking tools in CRM solutions ensures a smoother information flow and enhanced internal/ external collaborations, especially important when the exchange of news and views between users are at supersonic speeds and visible to a multitude of people. Social CRM is a contemporary organisational strategy, fueled by the power-packed potential contained in trust, connections, recommendations and goodwill. 

The ultimate objective of the strategy is to offer advice and recommendations in order to carve a more sensible path towards buying decisions. The primary benefit driven directly to businesses is that the interaction and participation among employees, prospects, customers, partners and agents is given a whole new meaning, which ultimately brings about long term gains to organisational functions, goals and to the organisation as a whole.