eThesis - Kauppakorkeakoulun sähköiset gradut

ABSTRACT Objectives of the study Customer relationship management (CRM) is an established strategy and a system for customer lifecycle management. During the last few years web 2.0 technologies have enabled the rise of a new media and a way of communicating used by millions of people daily. Also managers and executives have increasingly realized its potential and looked for ways to benefit from it. The objective of this thesis is to identify how social media can be utilized in the CRM context for improved customer relationship management and to understand the potential of social CRM in the current business environment. Furthermore the main objective of this study is to identify the critical success factors that enable successful social CRM implementations in organizations. Academic background and methodology Firstly, a thorough literature review is conducted to understand customer relationship management and the underlying principles. As a starting point for social CRM also social media and web 2.0 domains are discussed and thereafter the current state and potential of social CRM introduced. Potential critical success factors are gathered from earlier literature and an initial theoretical framework is created. Semi-structured interviews are conducted in organizations that have implemented social CRM in order to find out how the case companies are using social CRM, how they proceeded with implementation and what benefits they have realized.. The interview data is then grouped, analyzed and reflected against the literature. Lastly, the final theoretical framework is created and conclusions drawn. Findings and conclusions A framework for social CRM implementation is developed, which provides suggestions of how to proceed with social CRM. This research also sheds light on the alternatives that exist in this area. A list of social CRM specific implementation success factors is created to enable smooth implementations and reduce risk. Companies lack a holistic approach to social CRM that would enable the larger, more fundamental change. Social CRM should be integrated with strategies, systems and approaches to achieve the best possible outcome. Successful implementation requires wide support and involvement from the organization. Willingness to adapt processes and careful consideration of knowledge and data are requirements for successful social CRM. Furthermore, it is vital to organize the initiative around the key audiences, whether employees, customers or both. Keywords CRM, Social CRM, Social Media, Technology adoption