Customer Relationship Management

Social Media and Relationship Marketing
















Situation Analysis
Table of Contents
I. Situation Analysis
II. Project Objective
III. Method
IV. Limitations of the work Academic Framework
V. Exemplars
VI. Emerging Theories
VII. Conclusions and learnings for Canadian Retailers
VIII. Recommendations for Canadian RetailersI. Situation Analysis
Nowadays are more the number of people who prefer to make a purchase on the internet rather than physically. Online shopping is one of the most significant developments in the history of retail, one which will only continue to grow in importance. That is why the interest of companies to create environments than can develop transactions with new customers. Knowing how touse tools properly can determine the success or failure of new media applications these days.
Retailers have enjoyed double and even triple digit sales growth in their online channels over the last decade. However, the online shopping market has reached a level of maturity; and with market maturity comes a slowing of growth and an increase in competition. This is the moment when we introduceopportunities in new media applications. 
Consumers' early love affair with all things to do with Social Media has matured to become a long term cross-channel retail relationship. Their insatiable interest in new applications coupled with the extraordinary rapid rate of change has created significant growth opportunities for CEOs and VPs of many companies. So what can retailers do to ensure theymaintain the online sales growth with which they have become accustomed long into the future?
What is new is the social networking aspect and the fact business is much more personal now. Everything is out in the open with the advent and popularity of social networks. People are being much more open. Consumers are sharing vast amounts of information about themselves online, and as a savvy marketer,we can use that in creative and respectful ways to actually reach out and forge new relationships and deepen existing ones.
Project Objective
Our objective is actually use online social applications to create new relationships with prospects customers. A relationship that can grow enormously that can build a long lifetime value with the customer. Settling some strategies for retailers toconvert online transactions into a long-term relationship will be the most important focus.
II. Method
I had a systematic literature review that is being considered relevant for purposes of this research. I divided this process in a few steps;
Step 1: Identification of the subject to consult: I identified subjects that have a direct contribution to the subject of the investigation (Social Media,CRM, Social CRM).
Stage 2: Analysis of secondary information: Once identified the issues we proceeded to the consultation and analysis of literature sources that contribute to research. Internet (Google research), Ryerson Library and Book “Managing Customer Relationship” references.
The first step in defining the information was the clarification of the conceptual framework which defined themethodology of relationship marketing through 4 steps (Identify, Differentiate, Interact and Customize). Nevertheless our research had limitations because we could not get access to primary research such a survey. Customers interacting in social media environments had been an excellent proof of the theoretical concept.
IV. Academic Framework
In this academic framework of CRM implementationcomponent will be necessary modify the organizational structure and processes to achieve customer-centric company. The processes should be redefined to improve its effectiveness and efficiency, and we will be given top priority to have the most impact on customer satisfaction.
But for relationship marketing and social media to be successful in the company, it shall be strictly necessary to generate...