Traditionally, consumers used the Internet to just spend the content: they read it, they watched it, and they used it to buy goods and services. Increasingly, however, consumers are using the platform, such as content sharing sites, blogs, social networks and wikis to create, edit, share, and discuss Internet content. This is a social phenomenon, the media, who can now significantly affect the firm's reputation, sales, and even survival. However, many managers avoid or ignore this form of media because they do not understand what it is, the various forms it can take, and how to interact with them and learn. In response, we present a framework that defines social media with the help of seven functional blocks: identity, presence, relationships, conversations, groups, reputation, and sharing. Since the various social media activities are determined to what extent they are focused on some or all of these units, explain the consequences that each block can have on the company as to interact with social media. In conclusion, we present a series of recommendations on how firms should develop strategies to monitor, understand and respond to the various social media activities. "Hide
by Jan H. Kietzmann, Christopher Hermkens, Ian McCarthy, Bruno S. Silvestre Source: Business Horizons 11 pages. Publication Date: May 15, 2011. Prod. #: BH433-PDF-ENG
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