Social CRM revenue breaches $1b mark by 2012

Staff writer
15 Sep 2011
00:00
News
Industry news

The worldwide social customer relationship management (CRM) market is forecast to reach over $1 billion in revenue by year-end 2012 from about $625 million in 2010.

According to Gartner, worldwide social CRM is projected to total $820 million in 2011.

However, analysts said spending by buyers on social software for marketing, customer service and sales increased by 40% in 2010 while social CRM remained less than 5% of the total CRM application market.

More than 100 vendors have social CRM offerings, but most are not profitable and generate annual revenue of less than $1 million.

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