Global Social CRM Software Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Social CRM Software Market Overview

The global social CRM software market was valued at US$ X trillion in 2016 and is expected to reach US$ X.X trillion at a high CAGR of XX% over the forecast period.

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Customer relationship management (CRM) software manages organizational interaction with existing and prospective customers. CRM is defined as a management philosophy to create, develop, and increase customer relationships to maximize customer value, market profitability, and ultimately the shareholder’s value.

CRM software supports organizations in maintaining contact details of their existing or prospective customers, including details such as names, addresses, phone numbers, call records, and purchase history. Social CRM software helps customers engage in meaningful conversation, benefiting both the company and the customer.

It also helps businesses ensure that existing customers’ needs are efficiently catered to and enables locating new customers. Effective social CRM software solutions help SMEs function as a team and manage activities, thus eliminating the need for excessive or time-consuming processes with the help of accessible real-time information on leads, prospects, and customer data.

Integrating social media with CRM software offers benefits such as real-time customer access, increases customer reach, enhances operational efficiency through greater insight into the customer base, and costs considerably less than other modes of customer interaction and reach.

Major factors driving the growth of this market include the capability to increase focus on customer consultation, emerging SMEs, and social media monitoring. Various firms are developing solutions for social monitoring, social listening, social middleware, social management, and social measurement in order to provide best-in-class customer experience. In addition, social CRM software is not limited only to the purpose of increasing sales and improving market activity, but also to enable and enhance customer engagement with the enterprise.

The Asia Pacific market is estimated to register comparatively faster revenue growth over the forecast period owing to the growing demand for social CRM software in developing countries such as China and India.

Global Social CRM Software Market Segmentation:

Global social CRM software market segmentation by deployment type:

• On-premise
• Hosted

Global social CRM software market segmentation by application type:

• Marketing
• Sales
• Support
• Services
• Collaborations

Global social CRM software market segmentation by solution type:

• Social Monitoring
• Social Listening
• Social Mapping
• Social Management
• Social Middleware
• Social Measurement

Global social CRM software market segmentation by end-user:

• Small and Medium businesses
• Enterprises

Global social CRM software market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa.