Rise of Social CRM and how IT & BPO Companies can Profit from it

Updated: April 18, 2010

As companies start spending their marketing and IT budgets on Social CRM initiatives, not only large CRM and Analytics software companies such as Oracle, SAP, SAS, but many mid & small sized software vendors are gearing up for what promises to be the next phase of CRM "evolution" - though looking at the speed with which this change is coming about, some may choose to describe it as Social CRM "revolution".

Thanks to this Social CRM (R)Evolution, IT and BPO Service providers too have an incredible opportunity. They should extend their CRM and BPO service offering to include following key areas to capitalize on this emerging opportunity:

  • Development of Engagement Platforms and Communities
  • Integration of "Traditional" CRM apps with Social CRM functionality for 360 degree "view of customer"
  • Master Data Management - A major issue in CRM projects, more so in Social CRM
  • Social Media Monitoring, Reporting and Analytics
  • Creation of brand specific Social Media Content
  • Social Network Analysis

Sooner companies realize the untapped potential of Social CRM opportunity and act on it by building their competency, better for them.

For IT & BPO service providers who operate on lower end of price spectrum, this is a unique opportunity for offering value-added services and moving up the price spectrum, improving their revenue and margins.

Affiliated Computer Services, a leading service provider recently launched "Community as a Strategy" - a suite of social CRM services that captures customer insights from social media sites to improve service and responsiveness of organizations. For ACS, this is a step in the right direction. Hope other IT and BPO Service Providers take notice of this development and follow ACS' lead in this direction.

Featured Research
  • 2017 CRM Buyer's Guide

    Customer Relationship (CRM) software has become one of the most important business tools in today’s world. By allowing you to better connect with new and existing customers, CRM is an indispensable tool for sales teams and customer service teams alike. But with so many choices available, it can be difficult to decide on a solution. more

  • The New 2016 CRM Comparison Guide

    Our new 2016 Q4 CRM Comparison Guide includes all the information you need to make the best purchase for your business. With relevant information on over 40 CRM vendors, you can learn what solution offers the features and pricing you need. more

  • CRM Software Cost Guide

    Did you know that you don’t have to spend a fortune to implement a CRM solution? In today’s marketplace, there are a variety of CRM options to choose from. And whether you’re a small business or a large enterprise, there are always ways to save. more

  • CRM Basics for e-Commerce Start-ups

    Customer Relationship Management (CRM) software is an invaluable tool for any e-commerce start-up. Your existing customers are the most valuable asset you have. With a CRM, you can better engage with them so that one-time customers become repeat customers and even evangelists for your brand. more

  • The Customer Connection

    To stay competitive, your small business needs to take advantage of CRM and social media. CRM software is a useful tool that can help you develop a social media presence and connect better with the customers you already have. more