Assessing the Impact of Social Media on Customer Relationship Management in Telecommunication Industry
As businesses become global and competitive, the least organizations can do is to focus their efforts on maintaining a mutually beneficial relationship with their customers, both existing and prospective [1, p. 35]. This explains why the concept of customer relationship management (CRM) has continuously been in the front burner of researchers and practitioners due to the avalanche of opportunities provided by information and communication technology.
The study was aimed principally at assessing the impact of social media on CRM within the context of telecommunication companies.
An analytical and diagnostic review of literature was focused on various key concepts and variables such as customer relationship management, social media and the impact of social media on customer relationship management. Pursuant to responding to research questions, the emergence, concepts and features of CRM were related to the concept of social media.
Beyond finding out that a symbiotic relationship exists between CMR and social media, the study has also revealed that by personalising and socialising brands, social media affords companies the opportunity to track and respond to customers’ needs in real time and most principally, helps telecommunication companies to attract and retain customers who share their values. It positively impacts customer relationship management, which largely focuses on building long-term and mutually beneficial relationships between brands and customers.
The researcher concluded that while customer relationship management is largely oriented towards meeting the needs of the customer, organizations are equally aware of the need to prioritise profit and revenue maximization.
The study offers recommendations regarding how telecommunications industries in the 21st century can use social media in order to attract, retain and manage their customers.
Gummerson, E. (1996) Relationship Marketing and Imaginary Organizations: A Sythesis, European Journal of Marketing, 30(2), 33-44.