The CRM business has matured beyond simply gathering contact data to a more sophisticated approach to understanding customer needs, business issues, opportunities and competitive threats, said FirstRain CEO Penny Herscher. “What is happening in your customers’ ecosystems could affect your strategy in selling to them.”
Yet many companies are running scared due to social media. This is why Customer Relationship Metrics has launched Social Media BI, a solution for building effective social media strategies to improve relationships with customers and identify operational improvements. We want to bring a rational and responsible approach to creating social media strategies. While many attempt to insight fear and promote boiling the ocean through social media monitoring, we don’t.
With Social Media BI, customer-centric organizations can gain greater control of what customers are saying about their brand by methodically (and scientifically) identifying the issues that are most impacting customers. Based on this analysis, they can take specific actions that will spread positive sentiment, while fixing those problems that damage their brand, the company said.
Social Media BI starts with identification of those issues that lead to the greatest number of customer complaints. That data is then cross-referenced with a targeted analysis of online sentiment and chatter to correlate the issues that negatively impact customer relationships and corporate reputation. Armed with this information, Customer Relationship Metrics then creates a social media road map to help the client execute a cohesive and proactive social media strategy.
The service also includes analysis of the company’s current social media strategies and suggests targeted new approaches designed to enable the it to quickly respond to online detractors, while filtering social media data points to identify best practices and areas of concern.
Excerpts of this article were written by Denise J. Deveau for E-Commerce Times. We have re-posted a portion of the article about Customer Relationship Metrics and our services.