Today, social media are essential for successful customer relationship management. Accordingly, there is a lot of research on the respective tools available to managers in the various channels. However, little research has been done on the internal requirements necessary for a firm to operate successfully in social media. Prof. Marchand and his co-authors have investigated this question in a research project. With an extensive data analysis on various social media in the period from 2013 to 2020, as well as numerous interviews with managers (mostly CEOs and CMOs) and other data, the authors of this study show that it essentially depends on four factors. These relate to social media strategy, social media budget, the ability of employees to act professionally in social media, and a deep understanding of the "big data" generated in social media. The study also shows that companies that focused on these internal resources and skills of their employees at an early stage are significantly more successful in their social media marketing today.
The scientific article has just been published in the current issue of the renowned International Journal of Research in Marketing with the title "Social media resources and capabilities as strategic determinants of social media performance" and can be downloaded here for free (open access).