Social CRM is a double-edged sword. It gives businesses a tremendous opportunity to easily communicate with consumers, rapidly answering questions and responding to concerns. But it also gives companies more chances to slip-up or to be perceived as being unresponsive or uncaring. That is why a growing number of organizations are stepping beyond the confines of traditional customer relationship management and incorporating social media into the next wave of CRM implementation.
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When it acquired Siebel in 2005, Oracle purchased the developer's on-premise and hosted CRM applications. The CRM software has succeeded, in part, because it is intuitive, due to its user interface, which increasingly has incorporated and mirrored that of social media. Oracle also developed add-on tools, such as its Gadgets for Sales, which can be used by corporations and their clients. Gadgets for Sales, for example, includes a mashup of account management data from the Siebel CRM or the Oracle CRM On Demand systems, plus Internet-based data; search and interaction with contacts from the Siebel CRM or Oracle CRM On Demand application; and a desktop-based search tool to search the data and content in Siebel CRM application. Oracle CRM On Demand starts at $75 per user, per month, with higher fees for a dedicated version.
Social is a Business ImperativeThe use of social media for a host of business purposes is rising. Indeed, social is quickly moving from cutting edge to business basic. Organizations that have so far ignored social - either because they thought it was a passing fad or just didnít have the resources to properly evaluate potential use cases and products - must start giving it serious consideration.
Social is a Business ImperativeSocial media is critical in the age of digital business. How can IT help? First, work with the marketing team to set up social networking programs on Facebook, Twitter, and LinkedIn, at minimum. Then work to put social media sentiment analytics in place to measure success.
Top IT Trends to Watch in Financial ServicesIT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Join us for a roundup of the top stories on InformationWeek.com for the week of September 18, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."