How Does Firm- and User-Generated Content Benefit Firms and Affect Consumers?

Social media marketing is a new form of communication between firms and consumers. The interactive nature of social media platforms enables consumers to share their perceptions about firms by creating their own content in various forms. Besides, firms are able to attract and engage with consumers through creating effective content on their social media channels. Both user-generated content (UGC) and firm-generated content (FGC) have a significant role in firm performance and consumer behavior. However, the previous studies have mostly focused on the effects of UGC and addressed the issue from the consumer side. Therefore, as distinct from existing studies, the study at hand addresses the specific effects and benefits of UGC and FGC from both the firm and consumer sides, within a theoretical framework. In addition, based on the findings of the reviewed studies, the chapter presents some practical implications for business.

Social Media Usage in Online Consumer Decision Process and Buying Behaviour

This chapter examines the usage of social media in predicting consumer buying process. A mixed method approach has been applied, a cross sectional survey and in-depth interviews were conducted in three universities in Ghana. The responses were collected from individuals in the age group of 18 -30. Data was analysed using Logistics Regression and Thematic analyses. The findings revealed that the social media behaviour of young consumers could significantly influence their behaviour at the pre-purchase information search and evaluation levels. The findings suggest young consumers are more likely to use social media for marketing activities such as purchasing, hence industries should redirect more activities towards this digital channel. This implies that social media is driving young consumers into e-commerce and that presents a huge opportunity for business and marketers.

Social Media

In this age of digitisation social media has become an integral part of our lives. It is an important tool for business decision makers as it enables them to stay connected with their consumers. The firms intend to make profitable use of social media applications such as YouTube, Facebook, Twitter, Pinterest and Mobile Apps. This chapter details out the concept of social media, how it differs from traditional media, the specific categories such as content communities, micro blogging, collaborative websites, social networking sites, live casting, virtual game and social worlds, etc. Further the impact of social media on youth is highlighted. This chapter presents guidelines regarding optimum utilization of social media. Also the strategies to handle different social media activities are discussed

Empowering the Economic Impact of Virtual Communities

Developments in information and communication technologies have led to changes in the consumption patterns of individuals and the distancing of businesses from traditional business models. Globally, the digital transformation process has led businesses to more innovative and flexible business models. Sharing economy is a type of digital economy in which goods or services are shared through digital networks, is an innovative and flexible business model. One of the key factors in sharing economic business models is the perception of trust. The term trust has been called the currency of the sharing economy. This chapter examines trust issues in sharing economy to empower the economic impact of virtual communities because trust is a key element in strengthening participation or knowledge sharing in virtual communities. In this respect, the concept of virtual communities and trust is explained. Moreover, the concept of trust in virtual communities and the effects of virtual communities on the economy are evaluated within the framework of sharing economy.

Social Media and E-Commerce

Several studies have approached the link between social media and e-commerce with different lenses, however, the study of motivations for sharing content specifically from e-commerce websites into social media has not been thoroughly approached and provides fertile ground for further exploration. This chapter uncovers which motivations serve as a background for individuals sharing intentions of e-commerce content. After a focus group with 7 individuals, results indicate participants focus more on intrinsic rewards than extrinsic ones when sharing, that self-interest is more predominant than reciprocity as a motivator for sharing, one-to-one exchanges are the preferential direction of exchange. Also, websites with cleaner designs and higher usability positively impact sharing intentions, experiences tend to be more likely shared than physical products, and participants are purposeful in their selection of sharing channels.

A Content Marketing Framework to Analyze Customer Engagement on Social Media

Factors influencing customer engagement on Facebook have been extensively analyzed but there are barely evidences if those factors also effect customer engagement on Instagram. A digital analysis was conducted including a content analysis of the post appeals and of the message interactivity as well as multiple linear regressions to explore the influence of the factors mentioned above on customer engagement. It was possible to conclude which factors can be used to increase customer engagement on social media, namely message interactivity and certain post appeals. Different conclusions are withdrawn when comparing Facebook to Instagram, proving empirically that different social networking sites have distinct influence on customer engagement. This chapter is relevant for content and social media strategies and helps brands increase their customer engagement.

Methods of Published Articles on Digital Economy

The digital economy is changing the way business is done and is showing tremendous potential for organisational progress and global influence.As innovative products and service offerings make the world more competitive,if created properly, digital connectivity will be able to provide new business models and faster entries into global markets (Anderson, Wladawsky-Berger,2016).This gives rise to important issues pertaining to consolidation of practices, implementation of relevant issues across global companies, and many more. Appropriate answers can be searched for these questions in the international research databases on the digital economy like Scopus and Web of Science. Research contributions of authors demonstrating scientific completeness are of great important here. Also important are databases that have been adequately cited.

A Literature Review of Social Media for Marketing

Digital economy has become a priority for companies and countries since consumer profile and consumption habits have greatly changed. Companies have begun to transfer the services they offer to the Internet. Also, a digital economy creates networks amongst individuals, communities, companies, and markets. With digitalization, not only have consumers' profiles changed, but marketing tools have changed as well. Social media marketing (SMM) is the product of this trend and is marketing through social media channels (SMCs). Therefore, this chapter examines social media use within business-to-consumer (B2C) and business-to-business (B2B) contexts. Moreover, the authors focus on the differences of SMCs adoption in B2C and B2B contexts.

Promotion of Tourism Using Social Media

The tourism industry in India represents a booming sector. This is because of the advent of a large number of foreign tourists every year as well as the demographic dividend of India's population, which is increasingly adopting tourism as a lifestyle constituent. Additionally, the revenue generated by this sector makes it very important for India. Studies from the World Travel and Tourism Council show that tourism contributed 9.4% to India's GDP in 2017 and is expected to show a significant growth rate. This chapter traces the changing landscape of the tourism sector and the emergent role of social media, identifies the pillars of social media for the tourism industry and delineates the various social media platforms, tools, and communities relevant to the travel and tourism industry.

Social Network Sites (SNS) and Their Irrepressible Popularity

Popularity of social media is increasing day by day and there are thousands of social media platforms on the internet with different features. This chapter discusses the term social media in general and examines its evolution in detail from the beginning of the first e-mail to today. Authors explore the terms pertaining to the domain of Social Network Sites (SNS) which are considered as one of the most used forms of social media. Authors present a discussion about a popular topic “SNS addiction” and examine its characteristics with a brief literature review. Accordingly, despite the fact that excessive use of social network sites cannot be formally accepted as a behavioral addiction; shy and young, extroverted, and neurotic women with no relationship are more likely to develop addictive behaviors towards social media.