Social CRM for SMEs: Current Tools and Strategy - Springer | The effective of Social CRM |

Social networking and other new technologies have given rise to the “social consumer,” who now has the means to share reviews and opinions about virtually every kind of product and service. As a result, the days of the one-to-one relationship between companies and their customers are over. Now companies must contend with the huge and growing social web, where customer experiences and opinions are shared on a massive scale and corporate reputations can be ruined almost instantaneously. Navigating this new world requires a new way of approaching customer relationship management, commonly called social CRM. In addition to their traditional CRM tools and processes, companies must rethink their product, channel, and customer strategies in order to build an entirely new relationship with customers through greater transparency. This new relationship will have two goals: to develop the credibility needed in the social web and to use this web to boost sales. This effort will require a major shift in the corporate mind-set toward collaboration and transparency. But if it is done right, the resulting benefits in terms of reputation and a more valuable relationship with customers can be significant.