Exploring the role of client communities in increasing companies' value
Role of client communities in managing relationship with customers. Client communities implementation: best practices. Comparison of telecommunications companies which have, do not have online client communities. Limitations, future research directions.
| Рубрика | Маркетинг, реклама и торговля |
| Вид | дипломная работа |
| Язык | английский |
| Дата добавления | 23.09.2018 |
| Размер файла | 3,1 M |
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As for the telecom companies without client communities, AirTel India, since starting the Twitter page in January 2010, observed undulated fluctuations of the stock price, so price neither had significant drops nor sharp increases. MTNL launched its Twitter page in January 2010, however company observes steady fall of the stock price. There is a range of factors affecting this decrease, not only absence of a client community.
Thus, the Hypothesis 2 cannot be certainly proved, however it can be suggested that implementation of a client community increases a company's value in short term perspective. It boosts a company's value for certain period of time, however without investing to relationships with customers and improvements in products or services over time, company's value (e.g. stock price) eventually declines.
community telecommunication customer
3.3 Limitations and future research directions
There are three main areas of limitations for the current research:
Content analysis. Sample for the first research phase included only 107 studies which were gathered from 7 websites.
Sample of telecommunications companies. Sample for the second research phase is also limited: only 5 companies with client communities and 5 companies without client companies were selected for analytical comparison of their Twitter pages. Therefore, there is not sufficient evidence to expand research results into the general population as the sample is not fully representative.
Indicators of a company's value influenced by implementation of a client community. For more purity of future researches, other factors, not limited to a stock price, can be chosen to track their change after implementing a client community.
Definitely, there is demand from business environment that an online client community is necessary for a company to implement in order to capture customers' feedback, build long-term relationships with them and work on brand co-creation. Client communities are not common among Russian corporations and enterprises, hence Russian-based IT-providers of client community platforms should develop and promote trainings and workshops on community management, community configuration, metrics and ROI. Such trainings already exists to some extent, consequently, future researches can be made among consumers of those trainings and workshops and impact of these forms of education to client community management among Russian corporations.
Conclusion
A client community is a multi-faceted platform where customers not only acquire accurate information about goods and services, but also have an access to knowledge base and peer-to-peer support. A client community makes the company's marketing strategy complete and boosts client loyalty, facilitates the emergence of the brand ambassadors and increases brand awareness. Besides these advantages, implementation of a client community may significantly increases a company's value in terms of additional revenue, stock price growth, and other value indicators.
There are multiple classifications of online communities - offline, online, virtual, social-media-based brand communities; firm-managed and customer-managed brand communities. Client communities are characterized by global coverage, boosting positive feeling about a company's brand, positive experience, trust and engagement of customers into community.
The central objective of the paper is to reveal benefits of online client communities and their effect on companies' value. This aim has been achieved by applying content analysis methods. Results of the content analysis of 107 case studies consist of extracting eleven categories of client community factors that increase a company's value: increased number of participants and visitors, higher customer satisfaction, increased sales and revenue growth, better usability, better information quality (i.e. information accuracy, timeliness, usefulness, completeness and customized information presentation), higher member loyalty (i.e. participation in community operations and communication with other members), large share of user-generated content, improved response time and better customer support and interaction, simpler moderation, reduced costs, insights & innovations.
Next research phase comprised analytical comparison of five companies with client communities and five other companies without client communities, all of them from telecommunications industry. The comparison showed that Coefficient of Imbalance for telecommunications companies with client communities less increases in negative direction than for telecommunications companies without online communities. This suggests that there is less unfavorable content on Twitter pages of companies having client communities rather than those without client communities.
Next outcome of this phase concludes that implementation of a client community increases a company's value only in short term perspective. It enlarges a company's value for the short amount of time, however with no investment to relationships with customers and improvements in products or services over time, company's value (e.g. stock price) eventually declines.
The research has got limitations regarding to the case studies sample size, telecom companies sample size and indicators of a company's value influenced by implementation of a client community. However results obtained from the available data clearly indicate strength factors of client communities, their significance in building relationships with customers and positive effect on companies' value.
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Appendix 1
Client communities' factors affecting companies' performance
Appendix 2
Stock price dynamics, Telstra
Appendix 3
Stock price dynamics, StarHub
Appendix 4
Stock price dynamics, Optus
Appendix 5
Stock price dynamics, Rogers
Appendix 6
Stock price dynamics, Sky
Appendix 7
Stock price dynamics, AirTel India
Appendix 8
Stock price dynamics, MTNL
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