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Social Media Management (SMM): I'm not talking about a CRM managing the social media content look and feel, though they can have at that problem if they want--I am talking about the CRM keeping track of what Tweets we've done, what we've said on Facebook and MySpace, and what has been said back to us. And sticking that into a customer record, as appropriate, just as they do emails. And providing a place to edit and save templates, just like emails. I'd even like a configurable time window for a social media post delay (for a tweet, for example), say 10 minutes, so that we don't have "Tweet regret" when we said something like "$1.99 oil change!" instead of "$15.99". And I want oversight and approval, just like there should be on email blasts--I don't want some green pea OR some old-timer deciding our facebook posts and content, I want all that to see configurable review and management approval no matter who is creating the tweets, posts, and responses. Reputation Management (RM) requires that feature, period.
All that said, here's a picture below that I created that might help you and/or your CRM vendors understand what they need to do. What they must do, really. The smart CRM vendors already are, just like they were ahead of the game years back on creating the Internet Lead Manager (ILM) function in their CRM . . .