Dubbed Social Contact Intelligence, the application can help sales and marketing staff find better leads for sales as well as gain more knowledge about their actual customers' likes and dislikes, according to SAP.
Social Contact Intelligence is built on top of and dependent on HANA, SAP's in-memory database platform. It's now in "ramp-up," SAP's term for an initial release with a small set of customers, and also part of a broader suite called Customer Engagement Intelligence. Currently it's only offered on-premises, but SAP is considering cloud-based deployments for the future, according to a spokeswoman.
Core CRM software is "such a commodity it's almost relegated to a system of record," said Jamie Anderson, vice president of customer solution marketing. Thanks to the rise of social media and resulting changes to the way customers interact with companies and make buying decisions, "we've realized the CRM market is evolving faster than CRM products on their own."
SAP had already been reselling software from Netbase for social media analytics, but now the Contact Intelligence product brings internal customer data to the equation, he said.
The three other elements of SAP's Customer Intelligence Engagement suite are generally available, Anderson said. They include Audience Discovery and Targeting, for running segmented marketing campaigns; Customer Value Intelligence, which gives recommendations on ways to cross and up-sell products to clients; and Account Intelligence, a mobile application for sales representatives.
Tuesday's announcement comes after SAP's unveiling in November of yet another social CRM-themed product set called 360 Customer, which ties together HANA, CRM, social analytics from Netbase and the Jam social network.
Oracle, Salesforce.com and other vendors are also moving quickly to build out social software portfolios, seeing the market as a major opportunity to sell existing customers more software when they have little interest or need to expand their core CRM system.
The competitive climate can put customers at a disadvantage, according to a recent Forrester Research report.
"Decoding and navigating the crowded social technology vendor landscape isn't easy," wrote analysts Nate Elliott and Zach Hofer-Shall. "Most vendors offer a unique range of social technologies, but no single vendor covers the entire value chain. Meanwhile, buzzword-packed marketing materials make it difficult to differentiate the players and find the right fit."
The level of emphasis and investment that companies should place on social software investments depends on their size, according to another recent Forrester report.
Reprinted with permission from IDG.net. Story copyright 2012 International Data Group. All rights reserved.
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