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Social CRM to mark its impact in near future
By siliconindia
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Monday, 14 February 2011, 22:18 IST
Stamford: Hardly anyone seems to be untouched by social media or social networking sites. It has become the integral part of day to day activities. In last 5 years it has gained unimaginable momentum. Big corporate houses are incorporating it in their overall strategies. According to the recent study carried out by Gartner, the day is not far, in fact the days following 2011 will definitely see social media absorption in almost every sphere encompassing CRM's foothold.
Ed Thompson, Vice President and distinguished analyst at Gartner says,"Over the next three years, social CRM will continue its exponential rise, software as a service (SaaS)will become routine, salesforce.com will reshuffle the market order, and consultants and system integrators will sell their own CRM software."
Survey indicates, by 2013 almost $ 1 billion can be spent globally over social software to support sales, marketing and customer service processes. Gartner forecasts that total amount to be spent on CRM software by 2012 can exceed $12 billion. As compared to the total spending on CRM software, social CRM constitutes almost 8 percent of all CRM spending, which is up by 4 percent in 2010.
Eventually starting from 0 percent in 1999, SaaS delivered 24 percent of the CRM software market in 2009 which went up by more than 26 percent in 2010. Gartner forecasts, that by 2015 SaaS will deliver almost 32 percent of CRM software market.
Social CRM is a customer engagement strategy in support of the defined goals and objectives towards optimizing the customer experience. To make social CRM successful, businesses are started recognizing the importance of social media and the impact it has on the business.
