Traditional CRM decline with Social CRM & Analytics? Nope.

Social analytics and social CRM don't spell the end of the traditional functions of a well implemented CRM solution - in fact, they only expand CRM capabilities in the enterprise. CRM solutions have traditionally leveraged internal data because that's what companies had available to them. External data was difficult and expensive to acquire as it had to be collected, analyzed and reported by third parties in a relatively manual way - "here's what the market looked like 6 months ago, assuming the small sample we collected is an accurate barometer" ... not ideal and capital intensive.

Analyzing external data, the entire marketplace, is no longer out of reach for the enterprise. Companies no longer have to rely solely on internal customer information - they can now look out. However, just because one can look out does not mean you stop looking in - in fact, the abilities are enhanced, not lessened, by one another.

As an accurate picture of the external market place via social media is now available, it is even more important that companies have and utilize a strong CRM platform. We must know and understand our current customers better than ever while also being able to leverage these customer profiles and positive experiences to find, converse, and partner with new clients, industries, and marketplaces.

CRM is the microscope. Social Analytics the telescope. They are both 100% essential to understanding reality.