Why NOW is the time to invest in Social CRM

There has been lot of discussion on whether Social Media revolution is for real or is it some passing fad that will die down eventually. Well, those who have any doubt should read findings of a recent survey by Forrester. In this survey of 204 marketing executives across industries, it was found that recession is accelerating shift to interactive, mobile and social media.

Marketers were most optimistic about social media, online video, SEO, mobile, paid placement in social media, email and paid search, in descending order. Near the bottom were outdoor, telemarketing, radio and newspapers. As per Forrester’s Interactive Marketing forecast, Interactive marketing will approach $55 billion in marketing spend in 2014 benefiting from search, social media and mobile marketing.

It is important to note that in the past two years, time spent by consumers online has grown from 29% to 34%, but advertisers spend only 12% of their budget on Internet marketing. Forrester predicts that by 2014, spend will increase to 21% of budget. Forrester further predicts that both social and mobile will have the biggest compound annual growth rate (CAGR) — 34% and 27%, respectively through 2014.

So, there you have it! Consumers are spending more time online, interacting with their friends and contacts through Social Networks. TV and Print Media have seen their Viewership/Readership fall significantly. This is the right time to allocate (or should I say “shift”) resources for investment from “traditional” media to “new” media and engage customers through Social Media for building trust and loyalty (see my earlier post on What is Social CRM and why it is important). It is time for CMOs and Marketing Executives to wake up to Social Media challenge and lead from the front.

What do you think? Should CMOs & CIOs wait any longer before deciding to allocate $$$ for Social CRM Program?

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28 responses to “Why NOW is the time to invest in Social CRM

  1. RT @HKotadia: Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g #sCRM #socialmedia #PR #CMO #brand #marketing #CIO
    This comment was originally posted on Twitter

  2. RT @amitshah_28: RT @HKotadia: Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g #sCRM #socialmedia #PR #CMO #brand…
    This comment was originally posted on Twitter

  3. RT @amitshah_28: RT @HKotadia: Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g #sCRM #socialmedia #PR #CMO #brand…
    This comment was originally posted on Twitter

  4. RT @hkotadia: Porque ahora es momento de CRM Social(Ingles) http://bit.ly/87wt5g #sCRM #CRM #PR #CMO #SocialCMO #CIO #CTO #Colombia #brand
    This comment was originally posted on Twitter

  5. RT @hkotadia: RT @SocialCRMTools: Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g #sCRM #socialmedia #PR #CMO #CIO #CIOs
    This comment was originally posted on Twitter

  6. Start rowing few life vests left RT @HKotadia NOW time to invest in Social CRM http://bit.ly/87wt5g #sCRM #ERP #CIO #CTO #CMO #socialCMO #PR
    This comment was originally posted on Twitter

  7. Start rowing few life vests left RT @HKotadia NOW time to invest in Social CRM http://bit.ly/87wt5g #sCRM #ERP #CIO #CTO #CMO #socialCMO #PR
    This comment was originally posted on Twitter

  8. Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g #sCRM #socialmedia #PR #CMO #brand #marketing #CIO
    This comment was originally posted on Twitter

  9. RT @DaghanSimsek Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g #sCRM #socialmedia #PR #CMO #brand #marketing #CIO
    This comment was originally posted on Twitter

  10. RT @hkotadia Why NOW is the time to invest in Social CRM http://bit.ly/4SOp3G
    This comment was originally posted on Twitter

  11. RT @KrisColvin: RT @hkotadia Why NOW is the time to invest in Social CRM http://bit.ly/4SOp3G
    This comment was originally posted on Twitter

  12. RT @KrisColvin: RT @hkotadia Why NOW is the time to invest in Social CRM http://bit.ly/4SOp3G
    This comment was originally posted on Twitter

  13. Why now is the time to invest in social CRM http://bit.ly/6LcYRM #CRM #ERP #CIO #CTO #CMO #socialCMO #socialmedia RT @hkotadia
    This comment was originally posted on Twitter

  14. RT @Partnerpedia: Why now is the time to invest in social CRM http://bit.ly/6LcYRM #CRM #ERP #CIO #CTO #CMO #socialmedia RT @hkotadia
    This comment was originally posted on Twitter

  15. RT @solvis: RT @Partnerpedia: Why now is the time to invest in social CRM http://bit.ly/6LcYRM #CRM #ERP #CIO #CTO #CMO #socialmedia RT …
    This comment was originally posted on Twitter

  16. RT @IsraelRF @solvis @Partnerpedia: Why now is the time to invest in social CRM http://bit.ly/6LcYRM #CRM #ERP #CIO #CTO #CMO #sm ^NG
    This comment was originally posted on Twitter

  17. Why now is the time to invest in social CRM http://bit.ly/6LcYRM via @LexnetCRM
    This comment was originally posted on Twitter

  18. RT @HKotadia: Why NOW is the time to #invest in #Social #CRM http://bit.ly/87wt5g
    This comment was originally posted on Twitter

  19. RT @HKotadia: Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g #sCRM #CRM #ERP #CIO #CTO #CMO #PR
    This comment was originally posted on Twitter

  20. RT @mikepascucci: RT @HKotadia: Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g #sCRM #CRM #ERP #CIO #CTO #CMO #PR
    This comment was originally posted on Twitter

  21. RT @hkotadia: Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g #sCRM #CRM #ERP #CIO #CTO #CMO #PR
    This comment was originally posted on Twitter

  22. RT @hkotadia: Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g #sCRM #CRM #ERP #CIO #CTO #CMO #PR
    This comment was originally posted on Twitter

  23. Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g
    This comment was originally posted on Twitter

  24. RT @hkotadia: RT @SocialCRMTools: Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g
    This comment was originally posted on Twitter

  25. Why NOW is the time to #invest in #Social #CRM http://bit.ly/87wt5g #sCRM #PR #marketing #CMO
    This comment was originally posted on Twitter

  26. RT @DaghanSimsek Why NOW is the time to #invest in #Social #CRM http://bit.ly/87wt5g #sCRM #PR #marketing #CMO
    This comment was originally posted on Twitter

  27. RT @hkotadia: Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g
    This comment was originally posted on Twitter

  28. RT @lalrinn: RT @hkotadia: Why NOW is the time to invest in Social CRM http://bit.ly/87wt5g
    This comment was originally posted on Twitter

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