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Metamorphosis of CRM: Incorporation of Social Media to Customer Relationship Management in the Hospitality Industry

Metamorphosis of CRM: Incorporation of Social Media to Customer Relationship Management in the Hospitality Industry

Loveleen Gaur, Anam Afaq
Copyright: © 2020 |Pages: 23
ISBN13: 9781799827726|ISBN10: 1799827720|EISBN13: 9781799827733
DOI: 10.4018/978-1-7998-2772-6.ch001
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MLA

Gaur, Loveleen, and Anam Afaq. "Metamorphosis of CRM: Incorporation of Social Media to Customer Relationship Management in the Hospitality Industry." Handbook of Research on Engineering Innovations and Technology Management in Organizations, edited by Loveleen Gaur, et al., IGI Global, 2020, pp. 1-23. https://doi.org/10.4018/978-1-7998-2772-6.ch001

APA

Gaur, L. & Afaq, A. (2020). Metamorphosis of CRM: Incorporation of Social Media to Customer Relationship Management in the Hospitality Industry. In L. Gaur, A. Solanki, V. Jain, & D. Khazanchi (Eds.), Handbook of Research on Engineering Innovations and Technology Management in Organizations (pp. 1-23). IGI Global. https://doi.org/10.4018/978-1-7998-2772-6.ch001

Chicago

Gaur, Loveleen, and Anam Afaq. "Metamorphosis of CRM: Incorporation of Social Media to Customer Relationship Management in the Hospitality Industry." In Handbook of Research on Engineering Innovations and Technology Management in Organizations, edited by Loveleen Gaur, et al., 1-23. Hershey, PA: IGI Global, 2020. https://doi.org/10.4018/978-1-7998-2772-6.ch001

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Abstract

As per the report of Grand View Research, the global Social CRM market is expected to grow to USD $81.9 billion by 2025. The report justifies that Social CRM has managed to exhibit a profound growth rate in a couple of years. Social CRM is now becoming a necessity for most of the businesses. The transformation of CRM went from being a strategy that focused on forming only financial bonds with customers to a business strategy that aims at establishing both transactional and interactional relationship with its customers. This change led to the evolution of a new version of CRM known as Social Customer Relationship Management. Social Media combined with CRM can benefit companies like never before. This chapter proposes a conceptual framework of a metamorphosis of CRM based on literature review. It presents the hospitality practitioners a reference to gain insights into the potential advantages like brand loyalty and positive word of mouth by the systematic implementation of Social CRM Strategies.

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