LivePerson (LPSN) shares today rose more than 4% after Benchmark Co. started coverage at 'Buy' with a price target of $22, saying the company has multiple new product opportunities in real-time data intelligence that will expand its addressable market beyond basic interactive chat. For 2013, the firm thinks LivePerson is capable of 21%+ revenue growth.
Another way to think about Social CRM is just the trend to collect as much data as possible.
For example, what if a software company is thinking of adding or changing a new features? They can go into the CRM database -- which might be integrated with social networks -- and see which features customers are demanding the most, or complaining about the most.
Re: Interesting infographic
Drivewaygirl
1/30/2012 12:30:23 PM
There is a lot of food for thought in that infographic, especially in terms of positioning a business correctly to capitalize on the changing demograohics.
Customer Relationship Management...or Mining
Street Smart
1/29/2012 12:40:31 PM
There is MUCH to love about social media, and I completely think it's the wave of the future, but I feel a little cynicism is in order about WHY companies do what they do. It isn't always for customer engagement; it's to part us from our hard-earned dollars.
LivePerson is starting to be a fixture on the shopping websites but I find it annoying. It's like prying eyes, and I already have ads following me around the web as it is. That doesn't feel like engagement; it feels like stalking. Perhaps I'm showing my age...
Also, since 2007, Google and Salesforce.com have had a "strategic global alliance," whatever that may be. Sounds BIG and IMPORTANT! But bottom line, Salesforce.com buying Radian 6 will help Google peer under the flap of Facebook's tent; it won't help me buy shoes!
Re: Growth industry
ProfR
1/29/2012 8:33:34 AM
I have gotten used to looking for answers to customer support questions online rather than calling a customer service rep. Often it is other customers who have had the same problem who can answer the question.
The value of a finely-tuned social network campaign is becoming more apparent to companies who use social networking sites. McDonald's, the fast-food chain, recently held an open tweet forum to gather comments from customers about their positive experiences at McDonald's. After negative sentiment overtook the forum it was quickly pulled.
Twitter had revenues of $120 million last year based on this sort of business model. Social CRM will be important to them as they look for the kind of valuation enjoyed by Google currently.
Re: Growth industry
mInvestor
1/28/2012 6:13:42 PM
Sure, it means lost of work, hard work. And that's why those companies have been or will be sold in millions or billions, because they provide a better or easier way to keep track all those info and do some useful analysis.
I can see this is a growing industry, and it can help companies for their busniess growth. But othe other hand, all of us have seen thos big telcom companies outsoruce their customer service to other low cost cuuntires. When you call them, you find those rep don't know anything. Or you try to call your phone company for a tiny question, but you were put on hold for 2 hours, or you need a help from your utility company because the gas was out in the witner time, but you alwasy got a voice mail (and no one ever called back). So we actaully see companies actaully cut off their customer service for cost-saving or tons of other reasons. Well, then you wonder what's the purpose to sift through those social media?
Sometimes we just got confused by all those business people.
Re: Growth industry
ProfR
1/28/2012 5:30:10 PM
Noreen,
You are right that there are some positive parts of social media for businesses. However, it requires a lot of work: keeping track of all that is said on your sites and on others, sifting thru what is said and putting together responses that make relevant. This is where things are going so businesses need to focus here and tools like Radian6 can help.
consumer
AskAsa
1/27/2012 8:04:10 PM
I think any vehicle that helps explain consumer needs to a company is a move in the right direction.
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