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Posted by William Band on January 5, 2010
A hot topic of debate among customer management and business process thought leaders right now is ascertaining the business value of "social CRM." Social technologies are proliferating rapidly and three-quarters of US online adults now use social technologies in some form. Cutting through all the hype, my clients are challenged to make hard decisions about the level of investment they should make in Social Computing technologies like blogs, wikis, forums, customer feedback tools, social networking sites, and customer community platforms. And they want to know how these new capabilities should be, and can be, integrated with their transactional CRM systems.
We have just published a summary of our research and define the seven steps to success for strategizing, selecting, and deploying social CRM solutions:
And, you need to think about new social "sentiment" measures like social conversation buzz, reach, and value. P&G calculated that its beinggirl.com site and community is four times more effective than advertising in reaching its target consumers, which provided justification for rolling out the initiative to nearly 30 countries.
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