The Global Social Customer Relationship Management (CRM) Market is projected to reach a value of over USD 60.2 billion by 2027 at a CAGR of around 54%.
The Customer Relationship Management (CRM) is technological approach for managing company and customer relationships. Whereas, Social customer relationship management is a services which has integrated with social media channels into CRM platform. It is a customer centric approach to product support, provide services, and to enhance the brand awareness. This will help the business and enterprise to communicate customers with different channels such as voice, text, phone email, chat and social media. Also it will helps the companies to know and interact with customer directly which will boost the sales and marketing services.
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Social Customer Relationship Management (CRM) Market: Drivers & Restraint
- Adoption for Big Data Technologies
The adoption for big data technologies will lead to transform the business by providing competitive with benefits over its competitors. It will also help to enhance the customer engagement and satisfaction with its rapid services and solutions. Moreover, it support to the accurate decision making and more systematic distribution of knowledge for the social customers and the companies.
Hence, these adoption for big data technologies have the ability to transform the customer relationship management which witness to increase the market growth in the forecast period.
- Enhance Search Engine Optimization (SEO) Business Activities
Enhancement in ESO will help to business activities to easily analyze the digital activities of the customers, and identify the target audience. Moreover, it will improve the activities with the CRM recorded keywords, blogging and social media for the business growth and productivities. It has the ability to target the large audience and enhance the business to make higher rank on search engines platform.
Hence, to understand the customer and its social behavior will also help to boost the content, which will lead to enhance the SEO business activities platform in the forecast period.
- High CRM Cost
One of the key constraint for implementing the CRM is the high cost. As large number of software is being available with different costing plans, the overall cost for ownership includes software subscriptions fees, upgrading charges, hardware and software and also staff upskilling and training.
However, converting the business operation may hinder the growth of the social customer relationship management market during the forecast year.
Social Customer Relationship Management (CRM) Market: Key Segments
- Segmentation based on Deployment Mode: On-Premises and Cloud
- Segmentation based on Types: Social Publishing Apps, Social Media Engagement Apps, Social Analytics Apps, Internal Community Apps, Product Advocacy Apps and Social Listening Apps
- Segmentation based on Solution: Mapping, Monitoring, Middleware, Management and Measurement.
- Segmentation based on Application: Sales, Marketing, Customer Support, Innovations and Others.
- Segmentation based on End-Use: Banking, Financial Services, And Insurance (BFSI), Consumer Goods and Retail, Manufacturing, Healthcare, Telecom and IT, Government and Transportation, and Logistics and others.
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, and Middle East & Africa with individual country-level analysis.
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List of the leading companies operating in the Social Customer Relationship Management (CRM) Market include:
- IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Jive Software
- Khoros, LLC
- salesforce.com, inc.
- Microsoft Corporation
- Pegasystems Inc.
- SAP SE
- Other Key Companies
- NetSuite Inc.
- Zoho Corporation Pvt. Ltd.
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Social Customer Relationship Management (CRM) Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Social Customer Relationship Management (CRM) Market, by Deployment Mode
Social Customer Relationship Management (CRM) Market, by Type
- Social Publishing Application
- Social Media Engagement Application
- Social Analytics Application
- Internal Community Application
- Product Advocacy Application
- Social Listening Application
Social Customer Relationship Management (CRM) Market, by Solution
Social Customer Relationship Management (CRM) Market, by Application
- Customer Support
Social Customer Relationship Management (CRM) Market, by End-Use
- Banking, Financial Services, And Insurance (BFSI)
- Consumer Goods and Retail
- Telecom and IT
- Transportation, and Logistics
Social Customer Relationship Management (CRM) Market by Region
· Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
· North America (US, Canada, Mexico)
· Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
· Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
· South America (Brazil, Argentina, Rest of South America)
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