Social Media for Success: A Strategic Framework

Social media is a phenomenon widely used by companies. Studies report that up to 94% of companies that have a marketing department make use of social media. Which social media platforms to adopt and how to use them to support the business strategies is often not a deliberate choice in companies. Therefore a strategic framework is proposed here that guides companies in making the choices that together entail their social media strategy. The research starts with an inventory of social media by Europe’s 50 largest software product companies. Eight companies are selected for an embedded multi-case study using purposive sampling. The results indicate three components of a strategic framework for social media: (1) scope comprises decisions about actors, platforms and the interaction, whereas (2) capabilities refer to the objectives and activities. (3) Governance requires decisions along the value, resources and risks. The framework, which has been evaluated by experts, is elaborated in this paper. Learnings from comparing the case studies are shared in the form of trends identified and challenges experienced during the study. The framework helps practitioners to develop and improve their social media strategy. It also stimulates thinking about the impact of social media beyond the marketing function.