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Social Media Marketing as Customer Retention Strategy

Schönau, J. (2015) Social Media Marketing as Customer Retention Strategy.

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Abstract:The emergence of Social Media has created a great place of interaction and collaboration among people. Nowadays, the world is interconnected through more than 200.000 social network sites. Consequently, there are many new marketing opportunities for companies as it is possible to interact with customers. Nevertheless, many companies still do not see the benefit of Social Media and see it rather as a threat than as an opportunity. Consequently, many companies are unaware of the impact of Social Media or miss the importance of it and have therefore not developed any plans and goals. The purpose of this study is to develop a model that explains companies how to use Facebook as a tool to gain Customer Retention. More precisely, the author reviews the customer point of view and attempts to transform their wishes and needs into guidelines for companies. As a result, companies can easily identify what their customers want and help achieve a higher Customer Retention. In order to find out what customers are thinking a questionnaire was conducted. Here, specific questions and opinions are retrieved and transformed. Furthermore, existing models and guidelines have been reviewed and analysed to find their key strengths. Both the questionnaire and the key strengths of different models have been merged in order to find an optimal solution.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Link to this item:http://purl.utwente.nl/essays/67342
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