Social networking as a CRM tactic; online effort can pay off in player/guest retention.(WEB WATCH)

I find that a well-executed and integrated marketing campaign is the best plan of attack in any economic climate. A holistic approach--of which CRM and social media will each be one component--is the most effective way for companies to reach their consumers across numerous touch points and engage in a dialogue with their consumers.

Advertising in the midst of an economic downturn always reminds me of the following marketing truism: keeping a customer is far more cost effective than acquiring a new one. This adage seems to become more applicable when budgets tighten, and return on investment is regarded as the ultimate success metric. In these times, resourceful marketers tend to emphasize their customer relationship management (CRM) programs to make sure that loyal consumers stay so and work to simultaneously increase brand affinity within their existing consumer base.

The backbone of any effective CRM program is to maintain communication with consumers. This is usually done by offering brand-relevant benefits to consumers most often in the form of discounts. While being careful not to inundate consumers with frivolous information, marketers can use CRM tactics to stay top of mind against a …