As part of my work on the July issue of Insurance Networking News, I had the opportunity to talk with insurance executives and analysts about the viability of a new buzzword that has emerged across the business landscape: “Social CRM.”
Social customer relationship management (CRM), in essence, takes typical CRM – an internally generated and maintained collection of knowledge about customers and their interactions with a company – and digitizes information streaming in from the virtual communities that now are part of many customers' experiences. In other words, things such as Facebook data will now be integrated into the same system that looks at customer purchasing history.
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