Photo - (From left) Chandru Relwani, Customer Experience Subject Matters Expert, Oracle APAJ; and Nik Feizal, Country Manager of Applications, Oracle Malaysia.
Malaysian businesses are using social media to change traditional customer relationship (CRM) management methods, according to business IT solutions provider Oracle.
Speaking in Kuala Lumpur, Oracle Asia Pacific's senior director of CRM applications product management, Chandru Relwani said that more than 30 percent of organisations expect social platform investments to increase more than 10 percent in the next 12 months.
"Increasingly, organisations are keen to capitalise on social platforms such as Twitter, social CRM, blog, online community and YouTube to engage with existing and prospective customers, reinforce brand messaging, and provide targeted offers and services to customer."
Relwani said businesses are using social space to engage customers with two-way interactions. Healthcare, retail, travel and hospitality are the key sectors looking to benefit from social media strategy."
He said in the last 10 years, many organisations have changed from a 'marketing-only' approach to social media to one that included other departments and business functions. "For example, social recruiting is now a core tool for hiring. Employers leverage social media channels to find candidates and improve brand value."
Customer enhancement efforts
Nik Feizal Haidi Hanafi, country manager, applications, Oracle Malaysia, said: "For Malaysia, there are increased interest from customers in telcos, banking and public sectors to incorporate social media strategy as part of their customer experience enhancement efforts."
However, organisations need to overcome the issue of monetising customer engagements on social platforms, said Relwani. "Aligning social media strategy with business objectives is absolutely critical to drive return on social strategy and enable social across the enterprise more holistically."
"Organisations should also consider the Cloud-based subscription (as a service) model to get fast access to social capabilities without having to worry about buying additional software or hardware," he said.
"Oracle Data-as-a-Service (DaaS) for social and marketing enables organizations to establish a social platform to service, leverage social insights for stronger marketing messages, or listen across social media for cues to better product development," said Relwani
"With it, organisations can also categorise and enrich unstructured social and enterprise data to gain unprecedented intelligence on customers, competitors, and market trends," he added.
Oracle Malaysia's Nik said: "Full convergence of social business is largely aspirational. No company has a lock on how social strategy can or should be created. Malaysian organisations should plan for and encourage their social business strategies to evolve over time as new ways of collaborating across people, processes, and technologies emerge."
Sign up for CIO Asia eNewsletters.