The Power Of CRM 2.0

The voice of the common man has been amplified tenfold with the advent of Web 2.0, as seen when people gain fame and recognition due to their contributions in blogs, wikis, forums and podcasts. It seems as if every opinion is heard and each word that they say count. With the massive amount of users surfing through the internet and with some people needing advertisements in their webpages for income, this has become a wonderful opportunity for companies to tap into this potential oil rig of prospective customers.

Since companies are taking great efforts to reach out to consumers in the internet, software publishers have announced the arrival of the modern CRM: CRM 2.0. Along with the basic tools of CRM applications, Web 2.0 technologies are integrated into these programs, allowing businesses to keep track of the likes and buying patterns of online customers/ shoppers. This also gives leeway for marketers to present their products more forcefully and convincingly without the need of an expensive marketing research team for information…CRM 2.0 can do the job perfectly.

Collaborative leanings

The main feature and driving force of CRM 2.0 is that it’s inherently collaborative, putting the business and consumer on the same page for the benefit of both. With also the versatility of CRM software, marketers and PR agents can truly engage the consumer across multiple points. The assurance of the client’s attention is guaranteed given that he/she has visited a specialized site (e.g sports site) that is in accordance with the target market of the business (in the previous example, Nike is the perfect company to reach out in that site).

Also, given human nature’s tendency to believe in the testimonials of peers rather than repetitive marketing pitches, the presence of blogs and podcasts create an opportunity for companies to find legitimate models to talk about their products, and spread the benefits of their products to the market. This then encourages a two-way exchange of communication where firms can hear about the good and bad side of their products, giving them inexpensive access about consumer concerns, which will in turn help the company’s business strategy.

Lower costs

With the internet having more and more surfers every year, this gives companies potentially more knowledge about the market and also giving less value to those expensive research firms, which implicitly benefits big companies and handicaps small ones. Such is the reach of Web 2.0, and it is necessary that entrepreneurs be aware of its massive reach, which has insight on literally billions of voices from around the world.

Monitoring costs are also slashed and advertising too, since the latter can be done in single click in a consumer reports website and the latter’s cost is based on the frequency of clicks on the company’s banner. In the end, the company is getting closer to that sweet dot in the profit maximization graph.

Lend an ear

Communications is developing at a staggering rate. Two decades ago, text messaging and picture messages are unheard of. Today, online video conferences can be done and every internet surfer has an unsaid opportunity to be a journalist or be a plain concerned consumer, warning people of the boons and banes of products. Either way, it benefits companies greatly. And with the help of the organizational prowess of CRM 2.0 applications, managers and entrepreneurs should lend an ear for millions speak their mind behind the monitor.