Impact of Social Media in Customer Relationship Management

Introduction

In the modern world of internet where various applications based on internet services has given the new innovations to the people of the world.  The influence of number of kinds of social media tools such as Facebook, Twitter, YouTube, etc. has affected the total marketing concept to a large extent. Acclamations or companies are now following these trends of social media and services to further promote and advertise their work (products or services). The promotion, thus faced by the company, creates a good relation between the company and the customers that further offers good and satisfied products to the customers. And on other hand customers develop a trust against the services of company. This aspect further forms an important part of marketing.

Research Aims and Objectives

1. To expand the social media gear in marketing and the extent up to which social media has been accepted by the companies for marketing their services.
2. To evaluate the tools of social media and their applications in the field of marketing
3. To elaborate the concept of Customer Relationship Management
4. To describe social media gear regarding its effect in maintaining Customer Relationship Management.

Research Questions

• What are the steps to expand the impact of the social media tools in marketing?
• How to distinguish and elaborate the applications of the social media gear in the field of marketing?
• What are the steps that elaborate the concept of Customer Relationship Management?
• What are the methods or procedures to describe the effect of social media and its tools in maintain Customer Relationship Management?

Literature Review

This study primarily deals with the collision of social media gear in the field of customer relationship management and its impact. There are two considerable concepts in any form of marketing. One is the customer relationship management, and the other one is the customer retention policy, where both the concepts are interdependent. If the customer relationship management is managed properly, then the customer retention policy can be maintained or managed properly. The concept of customer retention policy can be explained in the context of repurchasing by the potential or active customer. Therefore, one of the best ways to utilize this concept is to sustain customer relationship management (Hajikhani, 2015). On the other hand, customer relationship management is all about maintaining and coordinating with the customer. And in order to make these two variables successful, the companies depend upon the nature of the business regarding the source of communication which further can be divided into two categories – the traditional mode of communication and the modern mode of communication. Communication helps both the buyers as well as the sellers. As there are different personalities of buyers who possess different way of judging any product so the expectation level also varies from buyer to buyer. In order to maintain a good customer retention, the companies need to fulfil all the basic desires of the customers by maintaining their satisfaction level. And in order to satisfy the needs of the customers, companies need to know the factors defining customer’s satisfaction level. With the use of social media companies can estimate the expectation level of the customers and on the other hand, social media helps to update the customers about company’s products and services. Social media (running on the internet services) helps to connect number of people worldwide. Therefore, social media provides a good path fore the customers to connect with each other and to share some thoughts and views about any product.  With the increase or advancement of social media and its features has made the development of customer-centric companies. The concept of the social media is about connecting people freely on online (Kumar and Reinartz (2012). That is why; companies now adopt the social media features for marketing their services and products.

Methods

Research methodology is the technique that is acquired by the analyzer to complete the research work. The limitation that comes in the path of completing the study work is time. And to complete the study work in a successful way, the analyzer has adopted different forms of research techniques and research strategies. The analyzer has used primary and secondary data or methodology to cover the researcher work on time. Keeping in mind the data protection act of 1998 the researcher has adopted the data collection procedure (McDonald and Meldrum 2015). Probability method of sampling has also been used by the analyzer to complete the task of the study.

Conclusion

This chapter deals with the influence of social media and its tools on marketing. The report further analyses how social media has brought changes in the marketing strategies and up to how much extent it has affected the marketing strategies of any company to attract and retain customers.

Reference List

Eid, R. (2012). Successful customer relationship management programs and technologies. Hershey, PA: Business Science Reference.

Hajikhani, S., Tabibi, S. and Riahi, L. (2015). The Relationship Between the Customer Relationship Management and Patients’ Loyalty to Hospitals. Global Journal of Health Science, 8(3).

Kumar, V. and Reinartz, W. (2012). Customer Relationship Management. Dordrecht: Springer.

McDonald, M. and Meldrum, M. (n.d.). The complete marketer.

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