Co-creation of Value Using Social Media in the Service Industry: An Empirical Case Study of Service Innovation in a Banking and Finance Company

Asle Fagerstrøm, Ravi Vatrapu, Jørgen O. Størksen

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

Abstract

Companies have adopted and used social media channels for collaboration and engagement with potential customers, customer dialog management, and, creation of user communities for the customer support and co-creation. This study aims to expand understanding of social business processes for co-creation in the service industry. Findings from a case study showed that the banking and finance company in Norway manage to co-create value together with their users. Several new online products and services have been launched since the co-creation lab was launched. The banking and finance companies’ co-creation lab has a small, but stabile group of users. There are, however, findings that indicate that there could been achieved even more value in co-creation process through more and better interaction from the company’s side, as well as introducing an incentive arrangement for the users of the co-creation lab.
Original languageEnglish
Title of host publication2018 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2018
Number of pages5
Place of PublicationLos Alamos, CA
PublisherIEEE
Publication dateJan 2019
Pages560-564
Article number8607818
ISBN (Print)9781538667866
ISBN (Electronic)9781538667866
DOIs
Publication statusPublished - Jan 2019
Event2018 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM) - Royal Orchid Sheraton Hotel & Towers, Bangkok, Thailand
Duration: 16 Dec 201819 Dec 2018
http://ieem.org/docs/IEEM2018_prgBook.pdf

Conference

Conference2018 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM)
LocationRoyal Orchid Sheraton Hotel & Towers
CountryThailand
CityBangkok
Period16/12/201819/12/2018
Internet address
SeriesIEEE International Conference on Industrial Engineering and Engineering Management
ISSN2157-3611

Bibliographical note

CBS Library does not have access to the material

Keywords

  • Social media
  • Social business
  • Co-creation
  • Service innovation
  • Business value
  • Empirical case study

Cite this

Fagerstrøm, A., Vatrapu, R., & Størksen, J. O. (2019). Co-creation of Value Using Social Media in the Service Industry: An Empirical Case Study of Service Innovation in a Banking and Finance Company. In 2018 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2018 (pp. 560-564). [8607818] Los Alamos, CA: IEEE. IEEE International Conference on Industrial Engineering and Engineering Management https://doi.org/10.1109/IEEM.2018.8607818
Fagerstrøm, Asle ; Vatrapu, Ravi ; Størksen, Jørgen O. / Co-creation of Value Using Social Media in the Service Industry : An Empirical Case Study of Service Innovation in a Banking and Finance Company. 2018 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2018. Los Alamos, CA : IEEE, 2019. pp. 560-564 (IEEE International Conference on Industrial Engineering and Engineering Management).
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Fagerstrøm, A, Vatrapu, R & Størksen, JO 2019, Co-creation of Value Using Social Media in the Service Industry: An Empirical Case Study of Service Innovation in a Banking and Finance Company. in 2018 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2018., 8607818, IEEE, Los Alamos, CA, IEEE International Conference on Industrial Engineering and Engineering Management, pp. 560-564, Bangkok, Thailand, 16/12/2018. https://doi.org/10.1109/IEEM.2018.8607818

Co-creation of Value Using Social Media in the Service Industry : An Empirical Case Study of Service Innovation in a Banking and Finance Company. / Fagerstrøm, Asle; Vatrapu, Ravi; Størksen, Jørgen O.

2018 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2018. Los Alamos, CA : IEEE, 2019. p. 560-564 8607818 (IEEE International Conference on Industrial Engineering and Engineering Management).

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

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Fagerstrøm A, Vatrapu R, Størksen JO. Co-creation of Value Using Social Media in the Service Industry: An Empirical Case Study of Service Innovation in a Banking and Finance Company. In 2018 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2018. Los Alamos, CA: IEEE. 2019. p. 560-564. 8607818. (IEEE International Conference on Industrial Engineering and Engineering Management). https://doi.org/10.1109/IEEM.2018.8607818