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RESEARCH PROJECTName of StudentInstitution affiliationDateTO: Paul Fitzgerald, General DirectorFROM: Student Name, Customer Relations ManagerDATE: April 16, 2016SUBJECT: Designing a social customer relationship management (CRM) strategyAs a Customer Relations manager in the company, I am writing to propose research for the company’s social customer relationship management (CRM) strategy. Market analysis and research shows that there is a great perception gap between what companies offer and what consumers seek via social media (IBM Research 2010). Today, social media has grown exponentially as it has enabled the connection between clients and their companies. For our business, social media holds great potential as it promises to open new frontiers for our company. However, in our company, social media utilization remains basic, as we are yet to utilize its potential in making our customer relations department more efficient, effective and productive. In contrast, with our leaned focus on mainstream media, we have incurred major costs that would be avoided by better alternatives. Through social networking platforms, we will be able to increase revenue, reduce costs and increase the efficiency of the customer relations department. Internet advertisingWith the use social media, the most prominent form of communication today, our company will be able to engage with clients. In the recent past, social networking platforms have risen in prominence and regardless of the avenues; they have become crucial meeting places for prospective clients and companies alike. By designing a social CRM strategy, our company will be able to meet the growing market demands for constant communication and engagement. Findings indicate that at least 57% of customers will always research online reviews by other consumers before engaging with a product or service (The Nielsen Company 2010). By establishing our social presence, we will be able to encourage reviews among consumers who will further influence and motivate new markets towards our products. Increased access to customersBy shifting our attention from mainstream media, our company will be able to increase our access to more consumers through social networking sites. Today, anyone with the internet can access social networking sites and this would provide a great marketing opportunity as well as create opportunities for engagement. Through prominent platforms that have evolved exponentially like Twitter, Facebook, LinkedIn and YouTube, we will have the opportunity for increased access to the public (Lanz, Fischhof, & Lee, 2010). Cost reduction and increased revenueCurrently, our company relies heavily on referencing and mainstream advertising as the main means of marketing our products and services in the market. This has created a huge problem for our company as we have reduced the budget for the ever increasing advertising costs. However, there are abundant advantages to the development of a social CRM program. Unlike mainstream advertisement, social media presence would benefit our company by reducing the costs incurred and likewise increase revenues as social media messages would be more relatable and believable (Lofdahl et.al 2014). Through the direct and two-way communication between the company and our consumers, we will be able to promote honesty, transparency and encourage more brand …
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