Tuesday, February 15, 2011
The customer relationship management (CRM) market is primed to undergo a significant transformation in the coming years and could see more than $12 billion in spending by 2012, according to a recent Gartner report.
Social CRM software could represent as much as 8 percent of that figure, Gartner predicts. And as companies continue to deploy more solutions as a strategic part of their business and customer service processes, social CRM spending could reach $1 billion by 2013.
Before deploying social CRM solutions, however, Gartner recommends companies review other case studies relevant to their strategy and share them with decision-makers. By doing so, businesses can ensure they make the most out of their social CRM software.
Additionally, Gartner says it is important businesses look internally as well to see if other departments, such as marketing or customer service, have already deployed CRM strategies.
Gartner's report seems to support an earlier claim made by the SmartData Collective. According to SmartData, businesses are improving the social CRM deployment strategies, enabling them to utilize the technology more effectively and efficiently.