Value Co-Creation and Relationship Management Strategies in Online Social media

Abstract

            Without doubt, nowadays, once a business enterprise would like to develop any innovations and/or services for their customers, they have to listen meaningfully to their customers. Database from consumer insights allows managers and/or strategic communicators to develop effective marketing strategy. In order to gain this specific consumer’s insightful database, and their willingness to share their valued experiences is very important. The concept of “Value co-creation” is widely discussed and applied from the professional area. It explains the importance of co-creation process in obtaining the shared valued between the business and consumers. A well-designed content will increase the business opportunity to success of their business. However, from the academic approach, especially the communication area, the study of the “Value co-creation” concepts is not widely studied.  Unlike in the old days, with the advent of social media, the nature of communication in order to gain consumer’s feedback is changing accordingly. The purposes of this research are (1) to understand the value co-creation process between organization/company and its customer, and (2) to identify relationship management strategies between organization and customers on social media by employing in-depth Interview method with strategic digital communicators. Taxonomy analysis was employed during qualitative data analysis. The result was corresponding to IEPAR Model concept and relationship management strategies.