Social media as a tool for corporate reputation management
Kumlin, Marina (2016)
Kumlin, Marina
Lahden ammattikorkeakoulu
2016
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2016111516226
https://urn.fi/URN:NBN:fi:amk-2016111516226
Tiivistelmä
The research finds that social media has offered a host of a new platform for companies to build relationships with customers and increase profitability. Through social media data analysis, the companies foster engagement and better understand their customers. Listening to social media, making sense of it, and effectively acting on that information is essential power to the companies. The study concludes that there are many advantages and benefits for social media analysis utilization in a business reputation management area.
The companies can’t avoid or deny social media phenomenon anymore. However, they can choose to utilize the opportunity to get the benefits of it. The main value of it lies in the fact that consumers or potential customers produce these public conversations. Furthermore, the rising demand for real-time business intelligence analysis and the popularity of social media networks offer room for synergy.
Companies have been always looking for the tool or methodology that will transform them into more profitable, outstanding organization. Reputation of the company is an integral part of its intangible and tangible value that presents a very interesting angle for an investigation. The good reputation enables to attract customers easily and manage loyalty of the existing ones without extra financial investments. It helps to attract the best employees in the labour market and manage crises like bad economic times more smoothly.
Customers nowadays have more proactive utilization and more control over the communication process. They have a possibility to find information globally, contacting other customers, or expressing their own opinions in social networks. So, the corporate reputations are not about what companies do or say, it is about how the customers see and respond to company actions.
The study attempted to identify the specific opportunities and challenges that offer social media to companies. The aim of the research was to find the practical way to additional business value creation through social media utilization. Social media may create huge business outcomes if the company utilizes social media data in a right way. However, there are a number of challenges to successfully exploit these data possibilities. One of them, nowadays trend to abuse social networks by sharing news and information. Instead, the study focus on analysis data published by customers. It looks for practical methods for data utilization to better understand the customers.
The companies can’t avoid or deny social media phenomenon anymore. However, they can choose to utilize the opportunity to get the benefits of it. The main value of it lies in the fact that consumers or potential customers produce these public conversations. Furthermore, the rising demand for real-time business intelligence analysis and the popularity of social media networks offer room for synergy.
Companies have been always looking for the tool or methodology that will transform them into more profitable, outstanding organization. Reputation of the company is an integral part of its intangible and tangible value that presents a very interesting angle for an investigation. The good reputation enables to attract customers easily and manage loyalty of the existing ones without extra financial investments. It helps to attract the best employees in the labour market and manage crises like bad economic times more smoothly.
Customers nowadays have more proactive utilization and more control over the communication process. They have a possibility to find information globally, contacting other customers, or expressing their own opinions in social networks. So, the corporate reputations are not about what companies do or say, it is about how the customers see and respond to company actions.
The study attempted to identify the specific opportunities and challenges that offer social media to companies. The aim of the research was to find the practical way to additional business value creation through social media utilization. Social media may create huge business outcomes if the company utilizes social media data in a right way. However, there are a number of challenges to successfully exploit these data possibilities. One of them, nowadays trend to abuse social networks by sharing news and information. Instead, the study focus on analysis data published by customers. It looks for practical methods for data utilization to better understand the customers.