answer both questions on 2 separate word documents.
Information for summary:
Customer Relationship Management (CRM) is a customer-focused approach to business based on fostering long-term meaningful relationships. CRM enables businesses to collaborate with customers to inform overall business strategies, drive business processes, support brand development, and maximize return on investment (UMGC, 2020).
CRM has always been an essential component of any successful business ever since the sales between businesses and people started. Any business that continuously engaged in a customer-focused strategy in their pre-selling, product development and post-selling phase have proven over the time to be highly successful in markets (Hyken, 2019).
Like Paula quotes in the video, customer relationship management had evolved a lot since the advent of social media. One of the biggest advantages of social media is its ability to bring in relationships with company and consumer in three different dimensions i.e, Company to Customer, Customer to Company and Customer to Customer. With Social Media, it has become an easy task for the customers to share their satisfaction levels and thus to bring/chase prospects and the companies have easy accessibility to potential prospects of their products these days. The transition of direct mail marketing to bulk email marketing with more success rates is one of the examples.
For a company like CompanyOne, there is a number of social CRM tools available such as Monday.com, Zoho CRM, HubSpot, SalesForce etc., The analytical CRM tools available are SAP Hana, Zoho Analytics, Zendesk Explore etc. I would recommend Zoho CRM and Zoho Analytics for CompanyOne’s both Social and Analytical CRM as Zoho offers in-depth reporting, data analysis, app sync which are ideal for analytics (Zoho, 2020). Zoho’s mobile CRM app also helps the companies to stay ahead of competition by helping them to stay in touch with customers anytime and anywhere. Additionally, Zoho is also world’s leading CRM company with a credibility and their software can be customized for businesses of any size.
Hyken, S. (2019). The Thinking Behind Customer Relationship Management (CRM). Retrieved from Forbes: https://www.forbes.com/sites/shephyken/2019/03/24/…
UMGC. (2020). Customer Relationship Management (CRM). Retrieved from University of Maryland Global Campus MBA 640 9040 Online Classroom: https://leocontent.umuc.edu/content/umuc/tgs/mba/m…
Zoho. (2020). Features. Retrieved from Zoho: https://www.zoho.com/analytics/features.html
Social Media has been a big force in recent years on how we interact with each other. More and more people are using social media to be in touch with family and friends and also to attain information regarding current events. Social Media has also influenced businesses and customers interaction. Every business is using social media to communicate with its customers. According to Patil, (n.d.), “SCRM is a Social Customer Relationship Management. The integration of social media with customer relationship management (CRM) strategies-is the next frontier for organizations that want to optimize the power of social interactions to get closer to customers.”
Social media has changed how businesses manage customer relationship. Since social media posts are public, businesses’ transparency towards its customers have improved. Businesses want to make sure its customers are satisfied with its actions. In addition, social media has changed the speed with which businesses reply back to its customers (“How social media,” 2015).
Social CRM is the integration of social activities with the existing customer relationship management. Some of the social CRM available in the market are as Sprout Social, Microsoft Dynamics, Salesforce and Hootsuite. Some of the analytical tools available in the market are Salesforce, HubSpot, Zoho, Zendesk and Nextiva.
Some of the advantages are it is customizable, provide multiple tools and it integrates both social and analytical capabilities in one system whereas some of the cons could be cost and administration of the tool.
Salesforce is a good choice for Company One for both as a social CRM and analytical CRM tool. It’s the best option because it provides one stop shop for both activities. The company provides good user training and tools can be customized based on each business need.
How social media is changing the contact center world. (2015, November). CRM Magazine, 19(11), WP17. Retrieved from https://link-galecom.ezproxy.umuc.edu/apps/doc/A43…
Patil, M. (n.d.). Social Media and Customer Relationship Management. IOSR Journal of Business and Management, 27-32. Retrieved from http://www.iosrjournals.org/iosr-jbm/papers/ncvbm/…
CRM has existed for as long as we have sold things. However, with the evolution of technologies combined with communication tools, CRM has changed from the basic human interface such as a business owner having a conversation with the customer and remember their names to intelligent CRM platform with IA capability. Before the widespread integration of social media, word of mouth was the best tool to get your business out there, a friend or neighbor’s recommendation had an impact on your future consumer decisions. Today, the core concept and purpose of CRM are still the same, to attract and retain customers but the networks span throughout the globe without ever being face to face. For consumers. Social media enables consumers to instantly access information about the company they’re thinking about doing business with. Favorable recommendations can be shared quickly and widely online, as well as negative experiences. Companies are relying on data to analyze the customer behavioral data now more than ever before, creating a space for intelligent CRM tools and platforms.
Social media has also changed the way companies interact with consumers. Through social media platforms, companies can interact and collect customer data in real-time. These data, in turn, allow companies to build a stronger personal connection to the brand, customized experience and creating customer loyalty. With social media and communication being accessible at all times, the expectations for timely responses from the companies are high by the consumers. Societies are moving at a fast pace and companies must keep up with the speed or they will face frustrations from the consumers, leading the negative experience (UMGC, 2020).
A company is likely to stay ahead of the curve if they can quickly establish and define their brand on social media. With information travels at the speed of light, in order for companies to absorb and understand the data available at hand, they are forced to hire more employees to dissect the information. Social media has not completely replaced the traditional CRM platforms, but they become an important complementary effort as we see more CRM platforms are now integrated with social media data and compatibility (Owyang, 2010). With the available sophisticated communication tool and higher expectations from the consumers, new tools emerge to assist with navigating the new landscape. Online retailers such as CompanyOne have an opportunity to benefit from analytical and social CRM. With social CRM or CRM 2.0 (UMGC, 2020) evolving from traditional CRM, most of the tools available have are full-featured CRM platforms with built-in social CRM functions. SalesForce and Nimble are two examples of this full-featured CRM. Standalone tools are also available by Hootsuite and Sprout Suite and can be seamlessly integrated with the current CRM being used.
My personal experience with Salesforce has been extensive, I’ve seen it used in many different ways and much different industries. While Salesforce is still relatively smaller in revenue compared to SAP, Microsoft, and Oracle, the company has the fastest-growing rate (Greenberg, 2019). Salesforce is rapidly expanding its networks through numerous outreach and training, its ability to adapt to different functional and business demand has earned Salesforce a lot of followers. One of the benefits of Salesforce for CompanyOne would be its ability to be both a social and analytical CRM tool while other tools might require two different platforms to do both.
Greenberg, P. (2019, May 20). CRM watchlist winners with distinction part two: Salesforce. ZDNet. Retrieved from https://www.zdnet.com/article/crm-watchlist-winners-with-distinction-part-2-salesforce/
Owyang, J. (2010, April 9). Social crm: not your father’s crm. Forbes. Retrieved from https://www.forbes.com/2010/04/09/facebook-twitter-social-media-crm-dell-comcast-cmo-network-jeremiah-owyang.html#787419f33d89
Information for summary:
Both search engine optimization (SEO) and social media optimization (SMO) focus on increasing online traffic to CompanyOne’s website, however investing more into SMO would be the best move. This is because SEO focuses on algorithms and other technical ways of increasing online traffic whereas SMO focuses on the more human aspect of customer relationship management. Although we humans prefer to see ourselves as rational beings, we are much more emotional in our decision-making than we’d like to admit. SMO is more up close and personal and is likely to keep prospects engaged in the long run whereas SEO is simply set up to get the attention of the prospects to begin with. SEO gets them there whereas SMO keeps them there and increases their chances of consumption along with brand loyalty. “Social customers are not the customers of yore. They trust their peers, are connected via the web and mobile devices to those peers as much of a day as they would like. They expect information to be available to them on demand…. They require transparency and authenticity from their peers and the companies they choose to deal with” (Social CRM, n.d.).
One way incorporate social media into CompanyOne’s strategy is by way of social media influencers. These are people that have very large followings on the most popular social media platforms such as Instagram and YouTube. They easily have followings in the thousands, hundreds of thousands and even millions. Simple mention of CompanyOne’s website by one of these influencers can easily gain the attention of a vast group of people and can increase traffic to the company’s website.
Social CRM. (n.d.). Document posted in University of Maryland Global Campus Innovation Through Marketing and Technology 2201, archived at https://leocontent.umuc.edu/content/umuc/tgs/mba/mba640/2201/learning-topic-list/social-crm.html?ou=441121
As per the Edelman Trust Barometer, an annual trust and credibility survey, the trust saw in social media increase by 75 percent, noting that respondents are placing increasingly more importance on information gathered from this space (Edelman, 2012). As per many SEO experts, though Google’s web page ranking algorithms are confidential, it is still possible for a company to modify the search results of specific keywords through white-hat techniques. It is more interesting that the social media contents can also impact the SEPRs (Search Engine Page Results).
Anything found in the social media pages of the company i.e, Facebook posts, Twitter Feeds, Website homepages, backlinks, URLs, blogs etc influence the SEO results. It is even noted that the customer reviews mentioning the keywords will have an impact on the search results. It is very vital for a company like CompanyOne to maintain a good online reputation for favourable SEPRs.
Search Media Optimization (SMO) is a critical component of online reputation management. Major companies across the world have run vigilant SMO campaigns. Any negative feedback about one company found online (for instance, Yelp) may show up on the first page of the search results. Such vigilant SMO campaigns would push the negative results to the second or third page of the search results (Frick, 2010). This proves the direct relationship between SMO and SEO. The whole idea behind SMO is also to implement the changes to optimize a website and make it more visible in social media to bring in favourable search results.
CompanyOne should do an equal share of investment in SMO and SEO as both are very crucial for an online merchandise firm. However, based on the online reputation, the investment size can be modified. If the website is already optimized and has a favourable online presence, the need for SMO would be lesser and direct focus can be done on SEO. If the online reputation is not favourable for CompanyOne, then the focus and investment on SMO should be more.
Edelman. (2012). Edelman Trust Barometer 2012. Retrieved from http://www.scribd.com/doc/79026497/2012-Edelman-Tr…
Frick, T. (2010). In Return on Engagement: Content, Strategy and Design Techniques for Digital Marketing (p. 205). Focal Press.
While social media optimization and search engine optimization are different efforts, both have common goals that can make integration of social media into CompanyOne’s search engine optimization (SEO) strategy important. In the case of CompanyOne, where the social media optimization (SMO) has the same goal of driving traffic to CompanyOne’s website, this effort should include several approaches that leverage social media platforms to encourage sharing and distribution of content related to CompanyOne that can, in turn, be searchable by engines that drive traffic directly to the company’s website.
CompanyOne should utilize social media platforms to produce original content utilizing keywords associated with the company’s website to attract attention and encourage users to search key terms utilizing popular search engines (Stokes, 2017, Ch. 9). This will, in turn, bring the company’s website to the attention of these individuals and likely encourage “clicks” and traffic visiting the website. As that is the ultimate goal of the company’s strategy, it is important to connect the keywords utilized on social media with a direct effort made by users to access the company’s website (Chhabra, Mittal, & Sarkar, 2016). Keywords establish early interest on the part of the user and should therefore be utilized as often and across as many platforms as possible.
Another method of incorporating social media into CompanyOne’s SEO strategy would be to include direct links to the company’s website in the original content it creates and posts on social media platforms (Zhang & Cabage, 2017). While focus on keywords and novel content to pique interest is important, an actual link to the company’s website makes it easier for users of social media to link through and visit the website. They do not need to do anything other than make on simple mouse click to visit the site, which is the ultimate objective of cross-utilizing social media with search engine optimization (Stokes, 2017, Ch. 9). Because the posting of the website on social media platforms does not rely upon the ability of the company to optimize an actual search engine, this may be an overlooked but critically important step in the process of driving traffic to CompanyOne’s website.
Advantages of investing in SMO relative to SEO are that the company has a direct ability to impact the way it is portrayed in the public space and to generate new content that can shape the future of the organization and its customers. This influence will occur with or without effort on the part of CompanyOne; if not carefully cultivated and monitored, the company’s presence on social media can be negatively impacted by those whose creation of original content does not accurately reflect conditions, products, or services of the company (Bhandari & Bansal, 2019).
Bhandari, R. S., & Bansal, S. (2019). An Analysis Between Search Engine Optimization Versus Social Media Marketing Affecting Individual Marketer’s Decision–Making Behavior. Jindal Journal of Business Research, 8(1), 78-91.
Chhabra, S., Mittal, R., & Sarkar, D. (2016). Inducing factors for search engine optimization techniques: a comparative analysis. In 2016 1st India International Conference on Information Processing (IICIP) (pp. 1-4).
Stokes, R. (2017). Chapter 9: Search Engine Optimisation. In eMarketing: The Essential Guide to Marketing in a Digital World, 5th Edition. Quirk Education Pty (Ltd.).
Zhang, S., & Cabage, N. (2017). Search engine optimization: Comparison of link building and social sharing. Journal of Computer Information Systems, 57(2), 148-159.
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