Social CRM strategies are important for brands to leverage social media for specific marketing and customer service objectives. The key components of a social CRM strategy include establishing a base strategy by identifying clear, measurable objectives for social media. It also involves defining communication approaches like one-to-one conversations and engaging influencers. Additionally, a social CRM strategy sets up the right mechanisms such as resources, unified communication platforms, and customer lists. Executing the strategy generates insights from customers that help improve loyalty, service times, and identify trends.