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.