Customer Relationship Management (CRM) software is an evolution of CRM software that manages organizational interaction with existing and potential customers. CRM is defined as a management philosophy that seeks to create, develop and enhance customer relationships to maximize customer value, market profitability and ultimately the value of the shareholder. CRM software helps organizations maintain the contact information of their existing or potential customers, including details such as names, addresses, phone numbers, call history, and purchase history.
Social CRM software helps customers engage in meaningful conversations that benefit both the company and the customer. It also helps companies to meet existing customer needs and efficiently serve them, as well as finding new customers. Effective social CRM software solutions help SMEs work as a team and manage activities, eliminating the need for excessive or time-consuming processes using accessible, real-time information about leads, prospects, and customer data.
Integrating social media with CRM software provides benefits such as real-time access to customers, increases reach for customers, improves operational efficiency through better customer base insight, and costs significantly less than other forms of customer interaction and reach.
The global market for social CRM software is organized by categories, applications, end users and regions. Key drivers driving the adoption of social CRM software include the benefits of rapid deployment and easy configuration for sales administrators who make an attractive substitute for on-premise solutions. Other features include on-demand solutions that help businesses get new modules, locations, and functionality by simply having to enable new logins or features.