Social Customer Relationship Management (CRM) vendors believe that the Small and Medium-sized Enterprise (SME) segment has lot of potential that can be capitalized on. In 2011, SMEs continued to obtain a large part of the social CRM market's attention. Apart from functionality, the price of the application will be a differentiating factor in the buying decision. Hence, most SMEs are adopting simple and cost-efficient technologies such as social CRM software, which will help them gain a competitive edge and optimize sales.
In pursuit of a cost-effective approach, travel expenses have been reduced considerably in modern organizations. Organizations across all industries are looking for new ways to interact with and sell to customers. Social CRM software, integrated with online social networks, provides a perfect platform for sales personnel to convey their value proposition and offer video demonstrations to the target audience. In addition to being cost-effective, this approach provides sales personnel with an access to a wide range of prospects and the ability to reach them in a shorter period of time.
The Global Social Customer Relationship Management (CRM) Software market is forecast to grow at a CAGR of 28.4 percent over the period 2011–2015. One of the key factors contributing to this market growth is the increasing importance of customer experience management. The Global Social CRM Software market has also been witnessing the increased adoption of social CRM software in small and medium-sized enterprises. However, increasing complexity in effective adoption of the software could pose a challenge to the growth of this market.Report Scope
TechNavio's report, the Global Social Customer Relationship Management Software Market 2011–2015, has been prepared based on an in-depth analysis of the market with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Social CRM Software market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors dominating this market space include Jive Software Inc., Salesforce.com Inc., and Lithium Technologies Inc.
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