Stream Blends Social Media Into CRM - InformationWeek

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8/12/2010
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Stream Blends Social Media Into CRM

Websites, blogs, and social networks are monitored to respond quickly to customer questions and identify revenue generation opportunities.

Stream Global Services, a global business process outsource service provider, is combining its expertise in customer relationship management with a focus on corporations' desire to incorporate the rapidly expanding emphasis on social media into their communications with their clients.

Under the new service offering, Stream's social media professionals monitor an assortment of websites, blogs, forums, and message boards, to respond to customer support questions and requests for product information, according to the service provider. In addition, Stream gives its clients timely consumer feedback, combined with real-time market trends and the potential for revenue-generation opportunities via market- and consumer-trend analysis, the company said.

Stream customers also may blend the social media services with its existing services including voice, chat, e-mail, and data-analytic offerings.

"Today's consumers are increasingly turning to the virtual community and social networks for support and information on products and services they use every day. To address this shift in consumer behavior, Stream has created a unique business model to service both B-to-C companies, as well as the ever-growing social media content providers," said Scott Murray, chairman and CEO. "By providing a platform for actively engaging with this growing customer base, Stream helps our clients build enhanced long-term customer value and ultimate brand loyalty, and for social media clients, maintain high levels of security protection."

After using Stream's social media services as part of its overall sales and support program, one technology client expanded its customer base and generated new sales opportunities, according to Stream. By proactively monitoring and analyzing end-customers' responses to its clients' marketing initiatives, the technology company was equipped to make well-informed business and marketing decisions about its online product offerings, improve its up-sell practices, enhance customer segmentation and price positioning, and better use demographic trends, according to Stream.

Consumers increasingly value social media, with 70% wanting to leverage these websites for real-time availability of technical and customer support, according to a recent Yankee Group report. However, average consumer satisfaction with current business interactions via social media is 65%, the report found.

More than half -- 58% of those polled -- cited regular communications between businesses and consumers as a means of enhancing social media, Yankee Group reported.

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