Resrearch On The Impact Of Social Media Engagement On Enterprise Performance

Social media has changed the process of firm performance management.With engaging social media,enterprises can manage firm performance by maintaining or managing their image,promoting their products or services,cultivating or creating stable customer relationships,encouraging co-creation.At the same time,consumers also can impact firm performance by influencing other consumers' attitudes and behaviors and directly contacting with enterprises.At present,firm performance management has become a value co-creation process of enterprises and consumers.Although,the importance of social media engagement in firm performance management has been generally recognized by relevant scholars in the field of management and finance.The impact of social media engagement on firm performance have not been systematically studied.So,the impact of social media engagement on firm performance and the mechanism of enterprise and consumer social media engagement have become an urgent problem to be solved in social media environment.Based on the theoretical model of the impact of social media engagement on firm performance,this thesis will answer this question and explore the influence of different roles of social media engagement on firm performance.Firstly,we constructed a theoretical model of the impact of social media engagement on firm performance,and analyzed the mechanism of the impact of firm and consumer social media engagement on firm performance,then revealed the relationship among enterprises,CEOs and consumers in this dynamic system.The result indicates that enterprise and consumer social media engagement have a significant positive impact on firm performance;consumer engagement has a significant positive effect on firm performance.the results also show that the CEO social media engagement can significantly moderate the relationship between firm social media engagement and firm performance.Then,we analyzed the specific impact of social media engagement on firm performance from the prospect of enterprises and consumers.From the prospect of firm social media engagement,we analyzed the mechanism of firm-generated content on firm performance.The empirical results show that the informative and persuasive content have direct impact,as well as indirect impact by influencing consumer engagement.The interaction items of informative and persuasive content have a positive impact on firm performance.From the prospect of CEO media appearance,we proposed the two kind of indicators of CEO media appearance in social media,then determined the regulatory mechanism of CEO media appearance on firm performance.The results show that CEO media appearance can better interpret corporate performance.CEO media coverage and media sentiment have a significant impact on firm performance.User searching attention and media attention also have a significant impact on firm performance.From the prospect of consumer engagement in social media,we classified consumer engagement into three types,then analyzed the impact of different types of consumer engagement on firm performance.The results show that personal engagement and user-interaction engagement have a significant impact on firm performance,but the impact of fan-interaction on firm performance has not been confirmedBased on the enterprise and consumer engagement in Sina Weibo,we verify the significant impact of social media engagement on firm performance,and enrich the researches on the impact of social media on firm performance through the research on the impact of social media engagement on firm performance in three roles of enterprise,CEO and consumer.The results provide more research perspectives to the relevant research on enterprises,and provide reference for the formulation of marketing strategies,customer relationship strategies and other relevant strategies of enterprises in social media.In addition,managers' personal image and corporate brand marketing in social media can also get some management suggestions from the results of this study.