Social Media Customer Service Software Market, Global Outlook and Forecast 2024-2032
The global Social Media Customer Service Software market was valued at US$ 1.9 billion in 2023 and is projected to reach US$ 4.3 billion by 2030, at a CAGR of 13.2% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Social customer service is the practice of proactively listening for and responding to support issues on social channels.
This report aims to provide a comprehensive presentation of the global market for Social Media Customer Service Software, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Social Media Customer Service Software. This report contains market size and forecasts of Social Media Customer Service Software in global, including the following market information:
- Global Social Media Customer Service Software Market Revenue, 2018-2023, 2024-2032, ($ millions)
- Global top five companies in 2023 (%)
The global key manufacturers of Social Media Customer Service Software include Brand Embassy, Brand24, Conversocial, Coosto, Copiny, Desk.com Inc, Deskero, eGain and Engage, etc. in 2023, the global top five players have a share approximately % in terms of revenue.
The importance of social media customer service software cannot be overstated. With businesses increasingly leveraging social media platforms to engage with their customers, the need for efficient and effective customer service solutions has grown exponentially.
Customer Expectations and Preferences
- Response Time: 42% of customers expect a response on social media within 60 minutes. Quick responses are crucial for maintaining customer satisfaction and loyalty.
- Preferred Channel: Over 70% of customers prefer to use social media for customer service over traditional channels like phone and email, due to its convenience and speed.
Business Adoption and Usage
- Implementation Rate: 67% of businesses have adopted some form of social media customer service software to manage interactions on platforms like Facebook, Twitter, and Instagram.
- Integration: 80% of companies report integrating their social media customer service software with their existing CRM systems, ensuring a seamless flow of information and better customer insights.
Efficiency and Productivity
- Reduction in Resolution Time: Companies using social media customer service software experience a 35% reduction in resolution times compared to traditional methods.
- Agent Productivity: Businesses report a 25% increase in customer service agent productivity when using specialized social media customer service tools, thanks to features like automated responses and streamlined workflows.
Customer Satisfaction and Retention
- CSAT Scores: Companies that utilize social media customer service software see an average increase of 18% in their Customer Satisfaction (CSAT) scores.
- Customer Retention: Effective social media customer service can improve customer retention rates by up to 15%, as timely and satisfactory resolutions enhance customer loyalty.
Cost Efficiency
- Cost Savings: On average, businesses save 20-30% on customer service costs by utilizing social media platforms, as they reduce the need for extensive call center operations.
- Automation Benefits: Implementing automation within social media customer service software can lead to a 30% reduction in manual handling costs, freeing up agents to handle more complex issues.
Engagement and Reach
- Customer Engagement: Companies with active social media customer service programs see a 48% increase in customer engagement, as prompt responses and proactive communication encourage more interaction.
- Brand Reach: Effective social media customer service can enhance brand visibility and reach, with 60% of customers more likely to share positive service experiences on their own social networks.
Competitive Advantage
- Differentiation: 55% of businesses believe that providing superior social media customer service gives them a competitive edge in their industry.
- Customer Insights: Social media customer service software provides valuable data and insights, helping businesses understand customer needs and preferences better, leading to more targeted and effective marketing strategies.
The adoption of social media customer service software is not just a trend but a necessity for modern businesses. With the ability to meet customer expectations, improve efficiency, and drive satisfaction, these tools are essential for any company looking to thrive in the digital marketplace.
We surveyed the Social Media Customer Service Software companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Social Media Customer Service Software Market, by Type, 2018-2023, 2024-2032 ($ millions)
Global Social Media Customer Service Software Market Segment Percentages, by Type, 2023 (%)
- On-Premise
- Cloud-Based
- SaaS
Global Social Media Customer Service Software Market, by Application, 2018-2023, 2024-2032 ($ millions)
Global Social Media Customer Service Software Market Segment Percentages, by Application, 2023 (%)
- SME (Small and Medium Enterprises)
- Large Enterprise
Global Social Media Customer Service Software Market, By Region and Country, 2018-2023, 2024-2032 ($ Millions)
Global Social Media Customer Service Software Market Segment Percentages, By Region and Country, 2023 (%)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
- Nordic Countries
- Benelux
- Rest of Europe
- Asia
- China
- Japan
- South Korea
- Southeast Asia
- India
- Rest of Asia
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Turkey
- Israel
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
- Key companies Social Media Customer Service Software revenues in global market, 2018-2023 (estimated), ($ millions)
- Key companies Social Media Customer Service Software revenues share in global market, 2023 (%)
key players include:
- Brand Embassy
- Brand24
- Conversocial
- Coosto
- Copiny
- Desk.com Inc
- Deskero
- eGain
- Engage
- Freshdesk
- Hootsuite
- inSided
- Interactions
- Khoros Care
- LogMeIn Inc
- NapoleonCat
- Sentiment
- Sleek
- Socialbakers
- SoDash
- Sparkcentral
- Sprinklr
- Sprout Social
- ThoughtBuzz
- Zoho
Outline of Major Chapters:
Chapter 1: Introduces the definition of Social Media Customer Service Software, market overview.
Chapter 2: Global Social Media Customer Service Software market size in revenue.
Chapter 3: Detailed analysis of Social Media Customer Service Software company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Social Media Customer Service Software in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
