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The influence of Social Media on Customer Relationship Management: Critical Factors for Customer Engagement - Dissertation Example
The researcher of this dissertation will attempt to examine existing literature and identifiable potential applications / benefits for social media association with CRM to decide about how social media will influence CRM in the future…
This dissertation presents an examination of influences of social media on CRM and critical factors for customer engagement in an age of social media by presenting salient themes from published literature in a review of relevant literature, and an examination of expert insights acquired from semi-structured interviews involving experts. In an age of ubiquitous computing, customers are becoming more digital oriented and the advent of social media has unleashed far-reaching change in the way in which individuals interact. The social web now represents the enormous power of the collective and online word of mouth presents substantial influences on masses, with Web 2.0 & Web 3.0 characterising emergence of new technologies and business trends. Now, CRM embeds customer centricity, customer engagement, responsiveness, collaborative thinking, customer advocacy and interactivity through social networking. The new social CRM presents business value, and customers are increasingly likely to demand a shift to the new way of doing business. However, social CRM demands investment in new technologies, acquisition of new skills, integration of social CRM with enterprise systems and a shift in managerial thinking towards new matrices. Customer engagement now demands to get to know about what customers are saying on social media, identification of customer needs, deciding about information requirements for customer decision-making, identification of value customers and influencers, etc.