Investment in social media for business CRM channels to rise

Published on 21 August 2012 by in Latest News

crm customer management Investment in social media for business CRM channels to rise

A new report from IT analyst firm Gartner discovered that investment into social media CRM systems would rise to $16.9 billion by the end of 2012. The figure amounts to a 43 per cent increase in revenue from 2011, although the report predicts that this figure will continue to rise across 2013 as the number of social media users online increases.

“Usage of online social media has matured, and more than one billion people worldwide will use social networks this year,” commented Neha Gupta, a Gartner senior research analyst.

Although the number of social media users is large, and in some cases, increasingly mature in their usage patterns, the market is still in its early stages from a revenue perspective.”

While social media marketing is exceptionally popular with advertisers, larger organisations are concerned with the need to adopt social media business CRM into their more traditional contact channels.

Indeed, UK firm Fisburn-Hedges recently claimed that customers preferred to use social media sites like Twitter to contact brands. The study found that over 36 per cent of the UK population used the social media channel to contact companies. This number has almost doubled from its 19 per cent total in August 2011.

Meanwhile, the research also found that 65 per cent of those who had used social media for customer service thought the contact channel was more efficient that using a call centre. Just seven per cent thought call centres were more efficient than sites like Twitter in resolving a customer service issue.

While these statistics provide compelling evidence for the use of social media CRM, the study went on to explain that, out of those consumers who had used Twitter or Facebook to converse with a brand, 37.5 per cent were between 35-44 years of age, while 31.7 per cent were between 45-54. You can find more about customer experience management through social media.

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