Why All CRM Vendors are after Web 2.0?

Web 2.0 technologies and social sites have contributed heavily in socializing internet and making it a favorite media for all people around the world. Although only a handful Web 2.0 sites are there, they are the most popular destinations on internet and the most promising media for advertisement and marketing. The social sites like FaceBook, MySpace, Technorathi, Orkut, Digg, etc have a vast collection of users and visitors having very high customer value for any company. May be this is the reason why all CRM vendors goes after Web 2.0.

Customer Relationship Management (CRM) systems have proven their effectiveness in business management. Most CRM software solutions present today are powerful enough to handle multiple tasks including data, employee, product, customer, marketing and contact management, and scheduling of events. Although first created as stand alone systems, today?s CRM systems are mostly web based offering all the benefits of Software as a Service (SaaS). According to CRM vendors the next main improvement is the socializing of CRM systems. But creating CRM 2.0 or Social CRM for exploiting customer value in Web 2.0 sites has both prosSocial CRM for exploiting customer value in Web 2.0 sites has both pros and cons.