Data collection so far proof beyond every reasonable doubt that in an era of rapid global competition among businesses and organizations, there is the need to focus directly on the customer as the most instrumental element to ensure growth. The theory behind this is very simple and that it; it is based on the customer’s transactions with the company that the company records revenue growth. The customer must therefore be given every necessary attention. Through the data collected, it has been established that the best way to give the customer attention is by giving the customer the change to make inputs into how the company should run and serve him (Marketing Charts, 2012, p. web).
a) The Role of New Media in Customer Relationship Management: Data gathered so far has shown that the fact that customer relationship management has been tagged as a core component of organizational growth and development does not mean that it should be carried out without the process. Researchers believe that customer relationship management must be given every boost that would ensure that it is conducted in the best possible manner. To this effect, they suggest the inclusion of the new media in customer relationship management. Most advocated is the need to have established customer relationship software that will be based on dimensions of growth and financial resuscitation.
The new media is regarded as largely potent for the course of customer relationship management because some advantages it has over traditional media such as in terms of coverage, accessibility, malleability of information and impact on users (Chipman, 2012, p. web).
b) Innovation for New Media: Another important component of the data collected has been the need for new media to also grow. It has been argued that it is based on extensive research and innovative reasoning that the new media has come to reign over the traditional media.
To this effect, there is still hope for a more improved system of media for tomorrow. To this effect, data collected points to three major aspects of innovation for new media which are user innovation, cumulative innovation and open innovation. Each of these systems of innovation has their own advantages and can be of extreme importance to any organization if they are well tapped.
Marketing Charts, 2012, ‘Journalists’ Views on Social-Media’s Influence on Reporting Differ by Beat’, accessed September 22, 2012 http://www.marketingcharts.com/interactive/journalists-views-on-social-medias-influence-on-reporting-differ-by-beat-4701/brodeur-new-media-journalists-impact-editorial-direction-of-news-coveragegif/
Chipman S, 2011, ‘Why Switch to a New CRM?’, accessed September 21, 2012 http://www.crmswitch.com/crm/why-change-new-crm-system/