In the context of present competitive environment, brands are the crucial drivers regarding product purchase, revenue and profit generation. Hence, Brands constitute an important intangible asset for the firms. Simultaneously, with the advent of internet, IT services and social media network information services, consumers are turning away from traditional sources of communication such as press, radio, television as used by various companies in past. Now a days, consumers take their decisions largely based on their trust on friends, family and online product reviews, and all of these are found in the social media network environment. Similarly, various authors highlighted brand identity approach for creating brand equity as employee constitute the original source of brand equity. Thus, present research gives important theoretical insights on the development of brand equity through customer engagement in social media. This research tries to assimilate the five dimensions of Aaker's well-known conceptual framework of brand equity with the process of customer engagement in social media along with brand identity approach through employee engagement and thus, an integrated conceptual framework has been developed.