From Transactions To Engagement
- by David Dorf
I've mentioned in the past that Oracle has invested quite a bit in acquiring social companies to build out its Social Relationship Management suite. The concept is to shift away from transactions and towards engagement. Social media represents a great opportunity to engage with customers, learn what they want, and personalize the shopping experience for them.
I look at SRM as the bridge between traditional CRM and CX. If you're looking for ideas, check out Five Social Retailing Suggestions and Social Analytics and the Customer. There are lots of ways to leverage social media to enhance the customer experience and thus drive more sales.
My friends over at 8th Bridge have just released their Social IQ report in which they rate retailers on their social capabilities. They also produced a nice infographic so you can consume the data quickly, but I'd still encourage you to download the full report.
Retailers interested in upping their SRM abilities should definitely stop by the Oracle booth at NRF in January.
