Social CRM is first a strategy that is often supported by various tools and technologies. The strategy is based around customer engagement and interactions, with transactions being a byproduct. 

Social CRM is still about CRM (but evolved), meaning a back-end process and system for managing customer relationships and data in an efficient and process-centric way.

Social CRM will mean different things to different organizations. The key is being able to understand the business challenge you’re looking to solve, and then solving it.

Social CRM is one component of developing a social or collaborative business, both internally and externally.

In social CRM, that has completely changed. The customer is actually the focal point of how an organization operates. Instead of marketing or pushing messages to customers, brands now talk to and collaborate with customers to solve business problems, empower customers to shape their own experiences and build customer relationships, which will hopefully turn into customer advocates.