Beyond the platform: Social media as a multi-faceted resource in value creation for entrepreneurial firms in a collaborative network

Abstract

In this study we review the literature on SM as a resource and how it has been linked to value creation. Conceptualising SM as a multifaceted resource (using the 4R Model) in a collaborative network of entrepreneurial firms, we analyse 30 h of interview data and 10,664 SM interactions using Ethnographic Content Analysis to assess the classification and identify the subsequent value creation. We find support for classifying SM as a multifaceted resource and a wider set of value created as a result. SM can be mobilised to create value in: sales and marketing activities, developing new and maintaining existing relationships, developing a firm’s reputation and network identity, and being part of the product offering to the market. In addition, we also found SM to be a dynamic resource in practice – moving between and present in more than one resource category in any collaborative activity.