How can virtual communities create value for business?

Abstract

Virtual communities include everything from discussion boards to massive multiplayer online role-playing games and virtual realities such as Second Life. The business world has assumed that virtual communities can be leveraged to provide access to consumers and consumer data. The benefits of this assumption have not always been realized. The purpose of this article is to understand why some business ventures into virtual communities fail and others succeed. Why do virtual communities support certain types of business activities and not others? Which firm activities are the best candidates to benefit from being positioned in virtual communities? The theories of social contracts and trust explain how firms can successfully participate in virtual communities. The theories have implications in the context of transaction-oriented, interestoriented, relationship-oriented, and fantasy-oriented communities. The value chain provides an instructive background to understand which firm activities are candidates for being included in virtual communities. Success in virtual communities depends on an attitude of contribution, dedication of resources, building a critical mass, and matching community and business needs. Because many social technologies are in the disillusionment stage of the hype cycle, further research in the business use of virtual communities is needed to guide business practices as we move to full adoption.

Creating Brand Equity by Leveraging Value Creation and Consumer Commitment in Online Brand Communities: A Conceptual Framework

“…With respect to digital media, the research has transformed from "consumer-brand" to "consumer-brand-consumer" which specify that consumption practices provide medium of interaction that increase relationship satisfaction and engage consumer in building brand equity through different means (Schembri, 2008, p. 9). The relationship generated through OBC among consumers or consumer-brand provides a platform to encourage participation and exchange to personal information which led to satisfaction and trust among community members (Spaulding, 2010). Such personal information built a relationship satisfaction that engage consumers in different IMC activities.…”

Higher Education Marketing

“…Central themes in this debate are the effects of the social media on human behavior (Barker, 2009;Kolbitsch & Maurer, 2006), their aptitude as educational environments (Augustsson, 2010;Kabilan, Ahmad, & Abidin, 2010), and their potential as marketing instruments (Constantinides & Fountain, 2008;Ghauri, Lutz, & Tesfom, 2003;Kim, Jeong, & Lee, 2010;Mangold & Faulds, 2009;Spaulding, 2010). Press articles, research papers and special journal issues around the subject are increasing, yet little attention has so far been paid to the areas of behavioral analysis and classification of the social media users.…”

Factors Affecting Re-usage Intentions of Virtual Communities Supporting Cosmetic Products

“…The business world has assumed that virtual communities (VC) can be leveraged to provide access to consumers and consumer data (Spaulding, 2010). According to the summary report of the Taiwan Network Information Center (TWNIC) in July 2016, the Internet use rate in Taiwan was up to 84.8%, whereas the VC use rate was up to 64.4%, thereby implying that VC gained the attention of Internet users.…”