The Dynamics of Social Media and Value Co-Creation

Abstract

Social media is considered trustworthy by consumers, and this has resulted in a strong consumer focus on social media to acquire information related to products and services. There are various benefits offered by social media, but security is a major concern as viruses and other threats can affect a huge number of users of social media. These platforms are not well governed. Indeed, they are highly decentralized and could easily be accessed, and this presents a high risk of illegal activity. Businesses continue to reap the benefits of incorporating social media into their strategies. There has been a shift in focus from conventional media to online and digital media in the form of social networking sites, wikis, and blogs. This has given rise to viral marketing as a means of effective communication and sharing information. The current chapter aims to explore the relationship between social media and value co-creation.