Essay On Social Networking

2275 Words5 Pages
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Recommended: CRM system and what benefits it will bring to the company

2014

IIM KOZHIKODE

PRASHANT YADAV
PGP/16/218

[SOCIAL NETWORKING AND CRM]

Introduction
Social networking sites are exploding and the hype with interest is also growing. Among them Facebook stands topper with 200 million users in 2009. Still the data doesn’t represent the correct facts as it is still a challenge to sort out fact from the data available. At high levels, social networking is described as the convergence of technologies which enable it to communicate it easily among individuals and share information. But today the question is not regarding social networking, but is about its usage in business. Businesses are trying to capitalize on social media as they search for unique strategies and tactics to extract value from it. Gartner Research shows that a large increment in investment in social networking by businesses (Metz, 2008). If used effectively, social networking sites can really enable our salespeople, marketing professionals, and customer service agents to develop and grow meaningful relationships with customers. Social networking sites true value can’t be achieved in isolation. Rather, there is a need that organizations take stock of their customer management and core business processes initiatives and then identifies and ponders upon the task of enhancing the value and extends those initiatives. The paper discusses about the tangible ways in which current organizations can extract business value from social networking after leveraging it with Customer Relationship Management (CRM).

The importance of social networking for business
Social networking sites provide the users the ability to communicate with each other. Also, they enable users to find like-minded individuals. After they discover each other...

... middle of paper ...

...indisputable. Yet many of the current business organizations still struggle to translate it into real benefits of business. By acquiring tools which can enable them manage their social networking activities alongside traditional marketing, sales, and service activities, organizations will take advantage of the social networking without getting distracted from their core business. Ultimately, success will become easy for those businesses that will succeed integrating with social networking which provides them a wealth of customer data, unfiltered feedback, and informal conversations and convert them into insights. Microsoft helps our customers achieve this goal through the Social Networking Accelerator for Microsoft Dynamics CRM. This provides organizations the capabilities to better understand, listen, analyze, respond, and formulate the social network activities.

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