Knowledge Management critical in Social CRM

In my previous post titled Social Media: The New Front End of CRM System, I highlighted how Social Media has empowered customers like never before as they discuss about brands/products and their likes/dislikes on Social Media channels. This presents an invaluable and “never before” opportunity to learn from customers in real-time. For this, companies need to Listen and Learn from what customers are saying and Engage them in meaningful conversations.

Social Media channels can generate tremendous amount of information and customers decide the format and content of information. It is no longer enough just to have a database as in traditional CRM systems since companies don’t control content and format of information. We need Knowledge-base to effectively learn from customers and engage them on Social Media channel. Social Media monitoring is not enough and companies need to invest in Knowledge Management tools to continuously learn and evolve. Knowledge Management comprises of ‘a range of strategies and practices used to identify, create, represent, distribute and enable adoption of insights and experiences’.

Knowledge Management tools are critical in learning from customers and adapting to change. And unless companies learn and adapt on the basis of inputs received from their customers, it is very difficult to engage them and build trust and brand loyalty, the essence of Social CRM. Only companies that learn and evolve continuously, and engage and respond to their customers’ needs will thrive in Social Age.

What do you think? Do you agree that Knowledge Management is critical in Social CRM? Or you think that is not the case. Please do share your thoughts. Look forward to hearing from you: