Success Factors of Online Social Networks

Teerayout Wattanasupachoke, Chulalongkorn University ABSTRACT This paper focuses on success factors of online social networking strategies. The significant relationship between success factors and outcomes of online social networks is also investigated. The scope of this research emphasizes Thai E-commerce enterprises registered with www.truehits.net, one of Thailands most recognized data providers of e-business. Regarding success factors of online social networks, Thai E-commerce enterprises focus most on the aspect of content. Providing accurate and up-to-date content to target online users leads to increase competitive advantages and results in a successful online social network. For the outcomes of online social networks, Thai E-commerce enterprises seem to be satisfied most with Brand Equity followed by Customer Insight and the number of Active Users respectively. According to the relationships between success factors and outcomes of online social networks, content factors significantly influence all major outcomes consisting of the number of active users, customer insight and brand equity. Updated and accurate content which is generated by members participating in the networks enhances potential success of online social networks of Thai E-commerce enterprises. Introduction The global populations nowadays live in a digital world. Peoples lifestyles have changed remarkably. It is the reason why business organizations have to adapt their strategy to catch up with the changing environment in order to create competitive advantages. As a consequence, digital strategy plays a substantial role in current business operations. One of the most popular and influential strategies is to use social networking strategy. The behavior of internet users has changed from using emails and search engines to creating, uploading and sharing personal content to connect with cyber friends. Social networks and consumer-generated content give users opportunity to interact in real time as well as create constant and large user base (Kozinets, 2002; Harris and Rae, 2009). According to recent statistics, internet consumers begin to communicate more via social networks than electronic mails. Goad and Mooney (2008) point out that people in England prefer to use social network as a way to communicate rather than email. Besides, the highest growth rate is in the 55 years-and-over age group which is very interesting considering that the world is entering aging society. Since there are more people joining social network, it becomes a great tool for a company to communicate with consumers. The 2010 marketing budget on social networks was as high as 3.3 thousand million dollars world wide, increasing 31% from 2009. It expects to grow continually around 30% in 2011 (www.eMarketer.com, 2010). Facebook has the highest market share, at 39%. Moreover, 86% of marketer plans to increase budgets on social media (www.pamorama.net, 2010). Therefore, social network becomes a crucial competitive strategy that modern organizations have to focus on. Social network is not only important in visual world but also in physical world where many companies can use it as a tool to operate their businesses. It is extremely important to study and understand how to develop a successful social network strategy. It should be adjustable to the changing circumstances especially when consumers are not only content receiver but they also become active creators. They can create and exchange contents in wireless world (Firat and Dholakia, 2006). The companies must grab opportunity and make the most of this trend. Nonetheless, there are not many academics, particularly in the East, to do a complete research on social networking strategy. In Thailand, the survey indicates that from 18.1 million of internet users, 61% of people use online service for shopping. In 2008, electronic commerce business has a value of 527,538 million baht, increasing at 427,460 million baht compared to that of 2007. The most popular ecommerce businesses are fashion, jewelry and accessory. Next are computer, electronics and internet (www.manager.co.th, 2010). According to the survey, general online shopping (B2C) has a

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massive growth to 70% in 2008 and over 30% in 2009. Among this is the online payment valued around 10,000 million baht and there were 800,000 online transactions per month which is considerably high. (www.bangkokbiznews.com, 2010). Thai consumers start to use ecommerce service more, particularly during the political turmoil because it is more convenient and less dangerous than going shopping in the department stores. It coincides with the survey that the number of Thai online shoppers increases to 57.2%. It reveals that more Thai people purchase products online. There are also more operators that begin to conduct business through ecommerce. It predicts that there will be more ecommerce businesses in 2011, especially through social media such as facebook or twitter. This makes online shopping become even more convenient and easier (http://www.matichon.co.th/khaosod, 2010). Furthermore, the behavior of buyers has changed substantially. Previously, around 8090% of online payments are transferred via ATM. Recently, it is more common for consumers to pay through credit card. It implies that Thai buyers are more confident to shop online which corresponds to the ecommerce business development plan of Thailand. Moreover, 70% of online purchase is in the province. Online shopping is most popular in Chonburi, followed by Chiang Mai, Songkla, Nakhon Ratchasrima and Khonkan respectively http://www.matichon.co.th/khaosod, 2010). Apparently, ecommerce is more widespread not only in the capital city but also in other provinces across the country. Thai eBay confirms that the overall market of online buyers in Thailand is likely to grow constantly. Trade value of Thai eBay website is up 21% in value terms and 24% in volume terms. Thai eBay has the highest number of online shopping activity in Southeast Asia. Consequently, eBay chose Thailand as one of the six countries in Southeast Asia to embark on eBay for Business project in order to help big business operators export their products to important world markets. It reveals the potential of ecommerce business that continues to grow higher (http://www.bangkokbiznews.com, 2010).

In summary, online business in Thailand becomes more popular because Thai people start to socialize online more and ecommerce stores also try to improve their products, services, promotions and credibility. It results in a higher trade value in ecommerce market. However, there is still a credibility issue regarding buying system and product delivery. The tendency of Thailands online business in 2011 is moving towards social commerce. It is an important and fast growing trend that makes online business become more convenient. The users of social networks in Thailand increase enormously. There are seven million people or around 10% of Thai population using social media such as Facebook and these people are more likely to buy or sell products online (www.bangkokbiznews.com, 2010). As a result, many ecommerce businesses in Thailand adopt social networks to their operation which is a remarkable and interesting step. Consequently, this study focuses on how to use social networks as a competitive strategy of Thailands ecommerce business which is a high potential business that can affect the overall economy of the country. The objective of the study is to emphasize the technique of social network strategy. It can be the network developed by individual users or by the company itself. It is important for a further research on this subject. The main focus of the study is on key success factors of social network strategy towards the business operation as well as on managerial implications of social network in organizations. It will lead to a better understanding and an effective approach in developing social network strategy in the business. Literature Review Social networking refers to a category of internet applications that support the connection between the two parties through several online tools. The interaction includes developing and sharing contents to one another (Fountain, 2008; Palmer and Koenig-Lewis, 2009). Social network is a great method that encourages the interaction among individual users and the whole society. It allows users to create their public or semi-public profile as well as sharing information and stories to their friends which bring about a long lasting relationship.

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Social network participants normally share similar characteristics and interests. They enjoy the same virtual society. The type of relationship in social networks is a triadic relationship between firms, customers and community members. All of the three groups interact continuously. Members in social networks have a strong emotional attachment to each other (Sheery, 1998). It creates a successful viral communication that allows users to disseminate interesting contents between individuals (Ferguson, 2008; Palmer and Koenig-Lewis, 2009). It is also a way to create a positive impression on customers and a chance for a company to release proper information. Palmer and Koenig-Lewis (2009) also explains that there are two main types of social networks consisting of consumer-oriented and producer-led communities. The former refers to the network set up by individuals who develop and exchange information of particular interest to members. The latter is pertinent to the network developed, hosted and sponsored by companies. Companies provide content and participate as members in the communities (Miller et al., 2009). This type of social network is considered a strategy to gain advantage in competition. The two types of social networks have been increasingly deployed as strategies to create competitive advantages recently. Success factors of social networks The factors that make social network become efficient in business strategy consist of many aspects as follows. Publicity Publicity is one of the keys to a successful social network. The companies need to let the public in cyberspace know about the network and its interesting features. They have to create target group in order to provide options for internet users to participate. It is a social network web marketing conducted through several communication channels such as using banners and collaborating with other businesses to promote the network. The most recommended method is to make the networks name appearing in popular search engines so that many people know more about the network (McLaughlin and Davenport, 2010). There are several other techniques; for example, friends get friends cam-

paign which encourage current members to persuade other people to join the network as well as to pass along a marketing message of the social network in a type of viral marketing. It is one of the successful approaches to publicize social networks in the internet world. Once the company provides proper and adequate basic information to internet users, there can be more members participating in the social networks. Content There are various factors that help develop successful social networks for business purpose. The fact that social networks underline content exchanging between members who share the same interest; it draws more people to join online society (Brunett, 2000). Besides, the tendency of the digital world is on consumergenerated content. Customers want to express who they are by making comments and sharing them with other network friends. The comment feature attracts users to become active members, revisit and contribute their own content. It makes social networks become an interactive virtual community that has a high traffic as expected (Baym, 1998; McLaughlin and Davenport, 2010) Furthermore, the businesses that use social network strategy can display content and information to each member group. The companies are Givers who provide useful and interesting content to members such as highlights about new products, feedbacks on products. It increases internal communication within social network sites and also creates opportunity for business expansion (Harris and Rae, 2009). Nevertheless, the companies involvement in creating content should be at an appropriate level so that social networkers dont sense any strong commercialization effort. If so, members may be distracted, have negative attitude and finally leave the network. Customers in the digital world are aware of the commercialization and are not easily convinced by the firms advertisement (Harrison-Walker, 2001; Susskind, 2002). The social networks that have obvious presence of the company such as commercial in networks or have too much marketing might not be successful and can cause negative attitude towards the entire content in the networks (Harris and Rae, 2009; Palmer and Koenig-Lewis, 2009; McLaughlin and Davenport, 2010). Therefore, it

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is important for the companies to give proper information in social networks and listen to what members need. In addition, Harris and Rae (2009) cite that privacy of personal data is increasingly important currently. The leading social networks are concerned about this aspect because users nowadays pay more attention to privacy issues. Most popular social networks try to develop system that protects members data and content. It ensures users that their content and information are visible only to those allowed to see. Interactivity Another factor that leads to a successful social network is interactivity. The more members interact, the better it is for the networks. Social networkers should be encouraged to exchange content because it is the key to increase the interaction (Palmer and Koenig-Lewis, 2009). The most common technique is to use online activities to motivate people to participate and interact with other members in social networks such as online games and fanfictions. These activities generate great experiences among members, as a result they develop positive attitude towards brands or associated businesses. Besides, online contests also give networkers opportunity to show their skills which can stimulate the interaction and increase amount of members in social networks (Dilworth, 2009). McLaughlin and Davenport (2010) emphasize that members in the networks should be able to observe and follow what is going on in online activities in order to create attachment and unity within the networks. Moreover, it is necessary for the social networks to create reliability among users and make sure that they can receive moral and emotional support from other members since itll lead to a great interaction (Brunett, 2000). It allows social networkers to feel as if they were in the same virtual families who they can share every story and feeling. This is the key to make networks alive. Another approach that helps boost interactivity level of members in social networks is by using forum. It is a tool for customers to ask questions regarding products/services to the companies including giving complaints which allow members to express their opinion and become more familiar with the

social networks. The topics created by customers have to be displayed on the networks and other members can view as well as discuss them further (Harris and Rae, 2009). The more companies respond to the complaints clearly, the more successful social network can become. It is a highly effective way to increase interaction among social networkers (McLaughlin and Davenport, 2010). Outcomes from social networks The outcomes from applying successful social network strategy to business operations are obvious in many leading organizations. The companies that incorporate social networks have ability to attract users or members who are active, revisit, and share as well as develop content with other users in social networks constantly. It makes the networks interesting for current and new members at all times. Another expected benefit from social networks is that members must have higher brand awareness and loyalty after participating in the networks (Muniz and Schau, 2007; Rae and Harris, 2009; McLaughlin and Davenport, 2010). It doesnt apply only to members who are already customers but also to users who have never tired products/services of the enterprises before. They should have a positive attitude towards the firms and trust in the brands. The brand equity must be significantly higher which leads to a buying decision of current and new customers in the future. Furthermore, efficient social networks are able to collect data from customers regarding their opinion and attitude towards the companies products/services. It brings about customer insights and the firms can predict and respond to customer needs precisely (Jaffe, 2005; McLaughlin and Davenport, 2010). Hitwise, 2008 asserts that the majority of social networkers are likely to visit the websites related to what they have seen from their friends sites. This is likely to end up with higher traffics to the websites and be able to gain higher sale volume accordingly. Likewise, more than half of European internet users tend to purchase products/services that receive positive comments from other individuals in online communities (Ipsos MORI, 2006).

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In short, although the ultimate results from social network strategies for the business are to increase sales and profits, according to the study, the primary benefit of social networks is to gain clear customer insights. Social networks help the companies truly understand customer needs and attitudes as well as create brand loyalty and equity in customers. As a result, they are able to improve their products/services and develop innovations to meet customer satisfactions. (Barwise and Meehan, 2010). It is a crucial step that will lead to higher sales ultimately. To summarize, publicity technique creates more awareness and interest in social networks among members which contributes to higher active users. H1: Publicity will be positively associated with the number active users in online social networks. Moreover, it is important to boost interactivity in social networks since it encourages members to participate and share information which results in customer insights. The interaction between members also creates brand awareness and equity. It is a great way to generate efficient word-of-mouth communications and referrals. H2: Interactivity will be positively associated with customer insights in online social networks. H3: Interactivity will be positively associated with the number active users in online social networks.

H4: Interactivity will be positively associated with brand equity in online social networks. In addition, social networks should provide interesting and appropriate contents for internet users. The current mainstream is consumer-generated and producer-led content which bring forth valuable information in the networks. It leads to a deeper understanding of customer insights. Proper content from both parts can lead to online brand communities that increase brand loyalty and equity in customers. Besides, appealing and suitable contents can attract new members quickly. Therefore, H5: Content will be positively associated with customer insights in online social networks. H6: Content will be positively associated with the number active users in online social networks. H7: Content will be positively associated with brand equity in online social networks. Eventually, the number of active users, understandability in customer insights and brand equity in social networks lead to higher sales volume. Therefore H8: Customer insights from online social networks will be positively associated with sales volume. H9: The number of active users in online social networks will be positively associated with sales volume. H10: Brand equity from online social networks will be positively associated with organizational sales volume. To summarize, the framework of the study and all the hypotheses are displayed in the figure 1.

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Research Methodology Questionnaire survey was the main technique for primary data collection. Population in this study is electronic commerce enterprises in Thailand. Specifically, E-commerce enterprises in this study are defined as virtual firms that sell products/services online. The number of E-commerce enterprises registered with www.truehits.net, one of Thailands most recognized data providers of e-business, is 999 as of January 2011. The consensus technique was employed. The 999 questionnaires were distributed online to executives of all the electronic enterprises. Various follow-up techniques were used as appropriate in order to obtain high and acceptable response rate. The 106 questionnaires were returned. The response rate is 10.61%. Further, in-depth and unstructured interviews are also employed so as to supplement data gathered from the questionnaire survey Empirical Results of the Study When considering success factors of online social networks, Thai E-commerce enterprises focus on the aspect of content the most. (Mean = 3.72) (See table 1on next page). The reason is the companies believe that by providing accurate and up-to-date content to target online users, it is likely to increase competitive ability which will lead to a successful network. Primarily, the firms emphasize updating content constantly as well as informing their members of the latest news and situations. This helps keep online networks alive and active which attract members to remain in the networks. It is substantial for businesses to provide a new generation, generation Z, with current and updated information which is a key to improve networks. Nevertheless, Thai E-commerce enterprises do not pay much attention to eliminating commercialization in social networks. This aspect becomes more important because social network members in general prefer to communicate and receive information freely without too much commercial involvement. If there is too much commercial information from business firms, it may create doubt in the members mind around the accuracy of the content. Therefore, it is necessary to set the limit for the commercialization in the online networks.

The second most important factor that Thai Ecommerce businesses focus on is interactivity (Mean = 3.69) (See table 1). The companies try to increase communication frequency among members in order for the network to be successful. They also improve various tools to boost the interactivities such as web board, chat room, forum which allow members to communicate effectively. Moreover, there are online games and contests as well as other activities that encourage users to interact and strengthen their friendship. The last factor is publicity. Thai E-commerce enterprises use publicity to promote uniqueness of the networks in order to draw more people to join in (Mean = 3.55) (See table 1). The firms stress on promoting the networks to the public especially target users. Some of the most popular methods are utilizing search advertisement technique and cooperating with other alliances to promote online social networks. Furthermore, the enterprises adopt viral marketing techniques to increase awareness for online social networks among target members. With regard to outcomes of online social networks, Thai E-commerce enterprises seem to be somewhat satisfied with the results (See table 2). The most satisfactory outputs in this study are Brand Equity generated from their online social networks. In this respect, image and reputation are well regarded by networks members, followed by brand awareness and brand loyalty of the networks. The satisfaction of online networks in terms of Customer Insight and the number of Active Users is considered moderate. Thai E-commerce enterprises remain in the early stage for developing tools and applications for capturing customers attitude and perception through online networks. In addition, they still need to learn from globally successful social networks operators, like Facebook, to create, enlarge and maintain their membership bases in the long term. Hypotheses Testing Multiple regression analysis is deployed for hypothesis testing. The variables in this research are multi-item variables, which consist of Interactivity, Publicity, Content, Customer Insight, Active Users, and Brand Equity. Cronbachs Alpha Coefficients are calculated for

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these variables in order to ensure reliability and the values of the coefficients are between 0.77-

0.94 which is considered sufficiently reliable for further analysis (Nunnally, 1967) (See table 3)

Table 1 Success Factors of Online Social Networks Success Factors Mean Publicity Make online social networks widely known to public Collaborate with allies to promote online social networks Employ members get members policy to introduce online social networks Use search advertisement technique to promote online social networks 3.85 3.53 3.26 3.68 .964 1.007 1.089 1.151 1.195 Standard Deviation

Adopt viral marketing techniques to increase awareness for online social 3.43 networks Average Content Develop a variety of content and information of online social networks Update continuously content and information of online social networks 3.58 4.06 3.55

.924 .924 .931 1.127

Providing useful information and content for members of online social 3.83 networks Eliminate commercialization aspects on information of online social net- 3.40 works Average Interactivity Create and maintain intensive relationships and communication among 3.83 members in online networks Stimulate the degree of interaction among members via online activities 3.62 3.72

.889 1.037 1.088 1.160 .969

Arrange tools and applications to help members conveniently follow and 3.64 notice activities in online networks. Emphasize developing bonds and relationships among members in social 3.60 networks. Developing web boards, forums or other interactive features for members 3.77 increased interaction Average Note: n = 106 1 =least and 5=most emphasis 3.69

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Table 2 Outcomes of Online Social Networks Outputs Mean Standard Deviation 1.323 1.172 1.101

Active Users The number of members actively participating in social net- 3.04 works. Repeat visit rate of members 3.13 Degree of exchanging content in social networks 3.08 3.08 Average Customer Insight Thorough understanding in target members 3.06 Accuracy in prediction of target members behaviors 3.06 Responsiveness in target members demands 3.17 3.10 Average Brand Equity Brand awareness of social networks 3.26 Image and reputation of social networks Brand loyalty of social networks Average Sale Revenue Note: n = 106 1 =least and 5=most emphasis 3.40 3.13 3.26 2.23

1.040 1.040 1.009

1.174 1.160 1.155 1.664

Table 3 Cronbachs Alpha Coefficients of Multi-Item Variables Success Factors of Online Social Networks Interactivity Cronbach's Alpha 0.83 Publicity 0.77 Content 0.85 Outcomes of Online Social Networks Customer Insight 0.94 Active Users 0.92 Brand Equity 0.94

Regression analysis between Success Factors and Outputs of Online Social Networks Regarding the relationships between Success Factors and Customer Insight of online social networks, the regression analysis result is as follows Y= 1.414 + 0.473X1 R Square = 0.169 Y = Customer Insight X1 = Content Factor As a result, the following hypothesis is accepted, H5: Content will be positively associated with customer insight in online social networks.

Content variable significantly influences the companies ability to understand customer needs. It can be seen from the above regression equation which indicates a significant relationship between the variables. The successful online social networks have a variety of content that is up-to-date and accurate. The content derives from the members who participate in the networks voluntarily. It is the consumer generated content which happens when users express their thoughts on certain issues by posting ideas including uploading pictures/VDO or other related multimedia. This allows the companies to develop and analyze the content in order to gain a deeper understanding in customer needs.

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Regarding the relationships between Success Factors and Active Users, the regression analysis result is as follows. Y = 1.196 + 0.531X1 R Square = 0.151 Y = Active Users X1 = Content Factor As a result, the following hypothesis is accepted. H6: Content will be positively associated with the number active users in online social networks. According to the above analysis, content variable significantly increases active users. In this case, social networks that provide interesting, accurate and updated content can attract consumers to participate and finally become active members. The interaction among users such as exchanging opinion and giving information helps expand the online networks which support the firms operation in the future. Regarding the relationships between Success Factors and Active Users, the regression analysis result is as follows. Y = 1.065 + 0.619X1 R Square = 0.221 Y = Brand Equity X1 = Content Factor As a result, the following hypothesis is accepted. H7: Content will be positively associated with brand equity in online social networks. From the analysis above, it demonstrates that content variable significantly influences brand equity. By providing the content that corresponds to consumers interests, it creates a positive relationship between member groups and online social networks. It results in brand awareness and loyalty that motivate users to revisit the network sites regularly. Regarding publicity and interactivity variables, there is no significant impact on outputs online social networks. In terms of publicity, it helps promote the networks and generate higher public exposure. A majority of internet users become more aware of the network brands and are likely to join in. Since more people visit the sites, there are higher levels of word-ofmouth which automatically increases active us-

ers. According to the study, however, publicity is not the key success factor of online social networks. It can be explained that Thais PR online social network is not as influential as the foreign network. As a result, it cannot attract customer base as expected. As for interactivity factor, it does not apparently increase active users, customer insight and brand equity of Thais online networks. It may results from the fact that Thai networks are still in development and improvement process therefore they are not able to bring effective outcome. It is also related with the personality of Thai users who prefer casual and ordinary conversation between friends rather than being pushed to interact via activities and technologies. Therefore, interactivity does not play an important role in brining more members to the networks. Regression analysis between Outputs of Online Social networks and Sale Revenues Multiple regression analysis was applied to find the connections between Outputs of Online Social networks and Sale Revenues. The results demonstrate a significant relationship described as follows. Y = -.0575+ 6.223X1 R Square = 0.271 Y = Sale Revenues X1 = Customer Insight As a result, the following hypothesis is accepted. H8: Customer insights from online social networks will be positively associated with sales volume. Concerning the outcomes of applying online social networks to support business operations, customer insight variable indicates a solid link with the income of e-businesses associated with online networks. The enterprises that are able to develop a customer database are likely to predict and respond to customer needs precisely which contributes to a higher income. It is correlated to the management of online networks nowadays that utilize tools to stimulate, collect and analyze data from all members. Data mining is an effective analytic method that helps

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the firms understand and foresee the tendency of customer behaviors in the future. It brings about a better improvement in products/services that achieve customer satisfaction. It can attract new consumers as well which lead to a higher profit. Nonetheless, the ecommerce businesses that are still developing should be aware that it is more complicated to collect and follow data posted by users in the networks than to conduct a traditional customer survey. It is because networking members in general usually communicate and exchange ideas about certain topics that people in the group are interested in. Most of the time, it has nothing to do with products/services of the firms. Therefore, there might not be enough data to draw a conclusion. In addition, some users put their feelings and emotions in their opinions which create bias. It may distort the main point. Furthermore, it is not common for people in Asian cultures such as in Thailand to express ideas unlike the westerners. There are only a few groups of Thai consumers that are not intimidated to share their thoughts in public. They help lead the conversation in the online networks. As a result, the enterprises should screen the data gathered from the interaction between users since it might not be accurate. The data should be collected as exploratory research so that the companies can further analyze database to obtain genuine customer insight. Conclusion This research focuses on success factors of Thai E-commerce enterprises online social networking strategies as well as the relationship between success factors and outcomes of the online networks. According to the relationships between success factors and outcomes of online social networks, content factors significantly influence the networks outcomes consisting of the number of active users, customer insight and brand equity. Online social networks providing interesting, accurate and up-to-date content effectively attract visitors and encourage them become active members. In addition, the networks content, particularly member-generated content which users express their thoughts on certain issues, help Thai E-commerce enterprises to

gain deep understanding in customer needs. Furthermore, this also leads to positive relationships between members as well as creating their brand awareness and loyalty for Thai Ecommerce enterprises associated with the networks.
The research is fully supported by Chulalongkorn University Centenary Academic Development Project

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Associate Professor Teerayout Wattanasupachoke holds a doctoral degree from Warwick Business School, the University of Warwick, the United Kingdom. His educational backgrounds are in the areas of accounting and strategic management. He has published in many international academic and business -oriented journals. His research interests focus on strategy, organization management and innovation. Prior to taking part in academia, he had worked as an internal auditor and investment banker. Regarding a management position, he is the Associate Dean for Planning and Development at the Faculty of Commerce and Accountancy, Chulalogkorn University, Thailand. In addition, he has carried out a number of consulting projects. He is also a columnist for business newspapers and journals in Thailand.

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