10. The Future of Social CRM

The future of the world will drive us all to that economists’ utopia, perfect competition, as everyone will soon have access to every bit of information. This is due to the scale of social media interventions. The flip side is the inevitable practical issues with analysis of huge data and pattern. Many tools have emerged to simplify these complexities, such as sentiment analysis, ‘listening tools’ and even delivered response services on behalf of the organisation. Brands can either manage or leave things to chance. This is where social customer relationship management (CRM) comes into effect. With this as an effective strategy, brands can manage multiple interaction cycles simply, cost-effectively and in real-time, building individual relationships with millions of customers simultaneously.