Discussing the Growing Value of Social CRM

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TechNavio Says the Growing Demand for Social Customer Relationship Management Software From SMEs Will Help Increase Revenue Through 2019

The Global Social Customer Relationship Management Software Market is expected to grow at a CAGR of 38.10 percent from 2014-2019, thanks to the ever-increasing demand for social CRM from small and medium-sized enterprises (SMEs), says research firm TechNavio.

Many SMEs are focused on maximizing customer loyalty and satisfaction to maintain their existing customer list and garner more business. Social CRM software solutions support organizational growth and promote customer interaction via social media.

“Effective social CRM software solutions help SMEs function as a team and manage activities, thus eliminating excessive processes with the help of accessible real-time information on leads, prospects and customer data,” says Faisal Ghaus, Vice President of TechNavio.

The latest report by TechNavio emphasizes the emergence of social networks across organizations. Social media marketing has also become popular, and both large enterprises and SMEs are experiencing the benefits of using social networking sites because of their respective CRM platforms.

“Social CRM applications help customers engage in meaningful conversation, benefiting both the company and the customers. It also helps businesses satisfy their current customers and locate new customers,” says Ghaus.

TechNavio currently has more than 3000 market research reports on a huge range of topics, including:

About TechNavio

TechNavio is a leading global technology research and advisory company.

Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.

TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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