Analytics and Data Mining,ROI,Social CRM
I have been reading some very interesting books about strategies around becoming a customer-driven organisation and also about the benefits of Customer Engagement Programs (more on that in later posts). In the discussion around Social CRM we agree that it is beneficial to business to engage the Social Customer, but what seems to be more difficult to articulate is the Business Value Proposition – why should a company invest in Customer Engagement Programs in conjunction with CRM? What value is in it for the company and what is in it for the customers? We also talk about the need to move from value-in-exchange thinking to value-in-use. What tangible benefits are there for companies to take a a customer Lifetime Value approach rather than concentrate on the sale? Or simply, how can Social CRM Strategies can provide a significant impact to the bottom line.
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