Cast your mind back to 2010 - it seems a long time ago, doesn't it?
Let me jog your memory: Dubai unveiled the world's tallest building - The Burj Khalifa, Haiti was rocked by a huge earthquake, Greece got its first bailout package, and thousands of air passengers were stranded due to a particularly persistent Icelandic volcano.
In the marketing world, a new buzzword was doing the rounds: 'Social CRM'
Hailed as 'the new frontier' by IBM, it became the topic of much research, and countless articles on sites like this one. The Social Media Examiner defined social CRM as 'a strategy based around customer engagement and interactions, with transactions being a by-product.'
Do the figures support the fad?
Three years on, as social media becomes an ever more integrated part of customer relationship strategy, this new infographic looks at the key figures behind the social CRM phenomenon, including:
40% of consumers believe social media improves customer service
Every dollar spent on CRM returns, on average, $5.60
Figures and infographic collected by Eloqua, authors of the Grande Guide to Social CRM for Business
Figures and infographic selected from the Grande Guide to Social CRM for Business