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Growing Inclination of Small Businesses towards Online Digital Marketing & Social Commerce Positively Impacting Social Customer Relationship Management Market

HYDERABAD, TELANGANA, INDIA, November 14, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Social Customer Relationship Management Market size is forecast to reach $53.1 billion by 2027, growing at a CAGR of 20.4% from 2022 to 2027. Social Customer Relationship Management refers to the integration between CRM software and social media channels, which intend to help teams understand gain market insights, offer better customer services as well as create customer engagement through social mapping, social monitoring, social listening and others. Utilization of online marketing campaigns help in promoting digital brand advertising, improving customer retention, increasing sales growth, through direct social media interactions, and social mentions. In addition, rising adoption of digitalization across retail & e-commerce industries, growing penetration of users in social media platforms be it Facebook, Instagram and so on, along with increased emphasis on online shopping amidst COVID-19 outbreak have been eventually driving the market growth of social CRM industry. Moreover, rising adoption of cloud-based services, increased social media marketing strategy amidst high industry market competition, inclination of small businesses towards online digital marketing and social commerce alongside growing advent of AI based CRM tools for improving social customer interactions, customer relationship and others is set to further propel the market growth in the long run. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Social-Customer-Relationship-Management-Market-Research-500857

Key takeaways:

1. Cloud Social Customer Relationship Management segment is analyzed to witness the fastest growth with the CAGR of 21.4% from 2022 to 2027, attributing to factors like growing shift towards cloud migration for workloads, adoption of cloud computing across enterprises and so on.

2. Social Customer Relationship Management for Retail & E-commerce industry is anticipated to grow with the highest CAGR of 23.6% during 2022-2027, due to building online retail businesses through social media platforms, growing customer expectations, and many others.

3. North America Social Customer Relationship Management Market held the largest share of 39% in 2021, owing to high social media user penetration in U.S, increasing adoption of social media paltform for marketing from global retail & e-commerce giants and others.

4. Growing inclination towards online digital marketing and social commerce by small businesses along with integration of advanced technologies such as artificial intelligence in order to enhance social customer interactions, improve customer relationships and so on, is analyzed to significantly drive the Social Customer Relationship Management Market during the forecast period 2022-2027.

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Segmental Analysis:

1. Cloud Social Customer Relationship Management Market is analyzed to grow with the highest CAGR of 21.4% during the forecast period 2022-2027, owing to varied factors including adoption of cloud computing within enterprises, rising emphasis on saving additional upfront or operational costs, increased workload shift towards cloud migration and so on.

2. As per the Flexera State of the Cloud Report 2021, public cloud adoption within enterprises reached 79% for AWS, followed by 76% for Azure and 49% for Google Cloud in 2021, compared to 76%, 69% and 34% respectively in the previous year.

3. North America region accounted for the largest share of around 39% in the Social Customer Relationship Management Markett in 2021, attributed to growing utilization of social media marketing strategy by global companies like Amazon, Walmart and so on, higher penetration of social media users majorly across U.S and so on.

4. According to U.S Department of Commerce, digital spending during the holiday-centric Q4 increased 9.2% year over year, making the total jump in ecommerce to 14.2% in 2021.

5. Retail & E-commerce sector is analyzed to witness the fastest growth with a CAGR of 23.6% in the Social Customer Relationship Management Market during 2022-2027.

6. Online stores lead to 32% more sales on an average in comparison to stores not having social media prsensce, as per the Yotpo’s use base. In April 2022, Freshworks announced about the launch of a CRM solution, with availability on the Shopify apps store.

Competitive Landscape:

The top 5 players in the Social Customer Relationship Management industry are -

1. Salesforce Inc.

2. Zoho Corporation

3. SugarCRM Inc.

4. IBM Corporation

5. Microsoft Corporation

Click on the following link to buy the Social Customer Relationship Management Market Report:
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Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Customer Experience Management Market
https://www.industryarc.com/Research/Customer-Experience-Management-Market-Research-500684

B. Social Audit Services Market
https://www.industryarc.com/Report/19328/social-audit-services-market.html

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