Examine the role of social media in customer relationship management Essay

Examine the role of social media in customer relationship management 02221 - Essay Example Twitter, Facebook, etc (Holzner, 2008). The complete interactions that take place through the social channels provides various information to small companies, which can be utilized to enhance their services, products, as well as overall approach towards their business (Evans, 2012). Companies are required to value social media as well as realise that it is a two-way or joint process. If they choose to utilize social media like the customer centric stage, they can’t avoid complaints or the negative comments. In reality, one in three Twitter and Facebook user consider that companies should reply to the social grievances within two hours. People have some hopes, and companies should meet those hopes or expectations. Social media is considered as the newest channel by which companies can interact with the target customers (Sponder, 2012). Customer relationship administration/management is referred to the tactics, practices, and technologies, which organizations or firms use to record, manage, and assess customer interactions or communications to drive the growth of sales by enriching and deepening relationships with their entire customer base. The systems of customer relationship management are designed in order to collect customers’ information across various channels such as company’s website, live chat, marketing materials, telephone, social media, and live chat (Boulding et al, 2005). The systems of CRM can also provide customer-facing employee detailed data, buying preferences, and purchase history. Companies need to make sure that the analysis and storage of their customer facts and data must encompass a highest degree of security against identity theft, cyber criminals as well as other violations of securities (Chen and Popovich, 2003). From the company’s viewpoint, the whole relationship includes the direct communication aspect, for example service and sales related processes, and