TY - JOUR
T1 - Managing customer relationships in the social media era
T2 - Introducing the social CRM house
AU - Malthouse, Edward C.
AU - Haenlein, Michael
AU - Skiera, Bernd
AU - Wege, Egbert
AU - Zhang, Michael
N1 - Copyright:
Copyright 2013 Elsevier B.V., All rights reserved.
PY - 2013/11
Y1 - 2013/11
N2 - CRM has traditionally referred to a company managing relationships with customers. The rise of social media, which has connected and empowered customers, challenges this fundamental raison d'etre. This paper examines how CRM needs to adapt to the rise of social media. The convergence of social media and CRM creates pitfalls and opportunities, which are explored. We organize this discussion around the new "social CRM house," and discuss how social media engagement affects the house's core areas (i.e., acquisition, retention, and termination) and supporting business areas (i.e., people, IT, performance evaluation, metrics and overall marketing strategy). Pitfalls discussed include the organization's lack of control over message diffusion, big and unstructured data sets, privacy, data security, the shortage of qualified manpower, measuring the ROI of social media marketing initiatives, strategies for managing employees, integrating customer touch points, and content marketing.
AB - CRM has traditionally referred to a company managing relationships with customers. The rise of social media, which has connected and empowered customers, challenges this fundamental raison d'etre. This paper examines how CRM needs to adapt to the rise of social media. The convergence of social media and CRM creates pitfalls and opportunities, which are explored. We organize this discussion around the new "social CRM house," and discuss how social media engagement affects the house's core areas (i.e., acquisition, retention, and termination) and supporting business areas (i.e., people, IT, performance evaluation, metrics and overall marketing strategy). Pitfalls discussed include the organization's lack of control over message diffusion, big and unstructured data sets, privacy, data security, the shortage of qualified manpower, measuring the ROI of social media marketing initiatives, strategies for managing employees, integrating customer touch points, and content marketing.
KW - Customer insight
KW - Customer relationship management
KW - Employees
KW - Engagement
KW - Information technology
KW - Key performance indicator
KW - Social media
UR - http://www.scopus.com/inward/record.url?scp=84888067785&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84888067785&partnerID=8YFLogxK
U2 - 10.1016/j.intmar.2013.09.008
DO - 10.1016/j.intmar.2013.09.008
M3 - Article
AN - SCOPUS:84888067785
SN - 1094-9968
VL - 27
SP - 270
EP - 280
JO - Journal of Interactive Marketing
JF - Journal of Interactive Marketing
IS - 4
ER -