Abstract

This thesis examines how businesses can utilize social media in order to better engage consumers to create company goodwill and maximize their overall value. The strategy of consumer engagement relies heavily upon a business’ ability to function as a social organization. A social organization is a business that functions as an open-enterprise system, gathering value input from all stakeholders. This practice can be extremely valuable, but the implementation relies heavily upon engagement and interaction between the internal and external components that form a business. Therefore, this thesis highlights successful ways to better engage consumers. The report breaks down social media engagement into a critical three-step process: understand consumer needs and motivation, promote participation, and motivate cooperation. Examples of real-life strategies and other models are demonstrated for businesses to exploit. Also, the interconnected values created through proper social media engagement are defined and discussed to display the benefits of successful implementation. This thesis argues that social media is the most advantageous tool for businesses to utilize in order to connect with their consumers. The value and opportunity of this growing internet-phenomenon are also displayed. The report is a ‘how to’ for potential businesses desiring to take advantage of such a tremendous and proven system.

Semester/Year of Award

Spring 2012

Mentor

Edwin H. Duett

Department/Professional Affiliation

Accounting, Finance, and Information Systems

Access Options

Restricted Access Thesis

Degree Name

Honors Scholars

Department

Accounting, Finance, and Information Systems

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