Paul Greenberg, author of CRM at the Speed of Light and the president of the 56 Group, says that businesses that are unwilling to acknowledge the significance of the social computing revolution are "stupid." Also reported in this Information Week article is that the change in the way people communicate, now heavily reliant on social networking tools, demands a new approach to the way businesses interact with customers.
"CRM is no longer just a model for managing customers but one for fostering customer engagement, says Greenberg.
"Engagement, as described by Greenberg, means listening to customers and allowing them to participate in the product design process. Great customer experiences historically involved a seamless enterprise value chain that functioned efficiently. Nowadays, he says, it's a different story. It's about looking at customers as partners."