The Impact of Social CRM on Retail Banking

Abstract

Introduction

Social networking transcends boundaries, encouraging interaction and collaboration between disparate users united by a common cause, belief, issue or interest. With social media destined to become a bona fide channel for consumer engagement as the decade unfolds, it is imperative for retail banks to develop and implement a social CRM (SCRM) strategy, buttressed by appropriate technologies.

Features and benefits

• Gain insight into the impact that SCRM has on existing operational practices and technologies.
• Understand what enhancements are required to existing IT systems and software applications.

Highlights

It is clear that social media is no passing fad and is rapidly becoming an indelible part of everyday life. Therefore, retail banks must give careful consideration as to how they can leverage the benefits of social interaction, before performing integration into existing operational practices and processes to improve service levels and revenue.

Your key questions answered

• Learn how banks and technology vendors can make the transition from CRM to SCRM.
• Get clarity of the vendor landscape for specialist SCRM solutions and services.