Companies big and small over the years have invested in CRM solutions in the hope of extending the breadth and depth of their customer relationships , the purported benefits of CRM are well documented some of them you can see here
Over the years as organizations struggled to make sense of the investments they made in CRM, they have been stung by another disruption the S (Social) word, the customer which CRM as a tool would have helped them manage has gone social , and know organizations have to figure out ways , how to manage a Social Customer, Jeremiah Owyang has shown the various use cases , which summarize the SCRM challenges here.
One of the critical challenges organization face is how to create actionable and responsive social strategy in light of so much information being thrown around on various social channels like twitter, facebook , while various social media analytic vendors like Radian6 , lithium have created social dashboards which help organizations to track their social pulse , there are not many quality tools which integrate with CRM, and produce actionable social intelligence( if i may use this word ).
The challenges are more acute for Small and medium organizations using open source CRM solutions like Sugar CRM, VTiger etc to manage their social customer relationships.
I think there is a big opportunity for some nifty startup to solve this growing problem of creating an actionable Social Module for CRM.
We have been listening a lot about social payments in the last 2-3 years, with the ballistic growth of social networks and social properties , some kind of commercial activity had to set in and whenever any commercial activity sets in payments or transfer of money ( real or virtual) has to be in place,Social Gaming networks , have long experimented virtual currencies and other things, Facebook credits, Virtual credits for games are some of the interesting things happening in the space .
I recently came across a service called ‘PAY WITH TWEET’, this is an interesting use case, how social payments may evolve in future, what Pay with tweet does is it allows you access to good and services in exchange for you tweeting about that service. So in nut shell, you pay by marketing for the brand or product, the basic premise of the service is brands/services can make more money by promoting their product rather than just selling it to the user, because of inherent virality involved on various social networks.
These kind of payment method comes with all the usual baggage which all payments come with including fraud,settlement(between seller and marketer), reconciliation etc.
Pay with tweet though does not involve any money exchange currently, but i thinks this is one area they need to work on because in any payment transactions some money exchange (at certain level) should happen to make it viable and scalable .
Inspite of this it is an interesting use case , where your network on twiiter or facebook can decide how much money you can make,sounds similar to multilevel marketing in automode . where your network decides how much you can earn, though users and brands need to be careful in designing such campaigns as social networks are integrated chain based systems , where good words and bad words spread with equal speed .
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