The Impact of Social Media on the Efficiency of Online Business Performance

Authors

  •   Tran Hung Nguyen Lecturer, Faculty of Economic Information System and Electronic Commerce, Thuongmai University, 79 Ho Tung Mau Road, Hanoi 100000
  •   Hoang Anh Le Lecturer, Institute for Research Science and Banking Technology, Banking University HCMC, 36 Ton That Dam Street, Nguyen Thai Binh Ward, District 1, Ho Chi Minh City, 700000
  •   Le Xuan Cu Lecturer, Faculty of Economic Information System and Electronic Commerce, Thuongmai University, 79 Ho Tung Mau Road, Hanoi 100000
  •   Vu Thi Thuy Hang Lecturer, Faculty of Economic Information System and Electronic Commerce, Thuongmai University, 79 Ho Tung Mau Road, Hanoi 100000

DOI:

https://doi.org/10.17010/ijf/2022/v16i3/168703

Keywords:

Social Media

, Online Business Performance, The Efficiency of Online Business Performance.

JEL Classification Codes

, M10, M15, M31.

Paper Submission Date

, April 23, 2021, Paper Sent Back for Revision, June 21, Paper Acceptance Date, December 13, Paper Published Online, March 15, 2022.

Abstract

This study aimed to develop some criteria to assess the impact of social media on the online business activities of Vietnamese enterprises. As the country’s e-commerce has been experiencing phenomenal growth, to assess the impact of social media on the same, we designed a questionnaire to assess five criteria based on relevant studies and collected data from 356 respondents in the positions of Head and Deputy of sales, marketing, and customer services departments of 80 typical and small and medium e-commerce enterprises. The results showed that Vietnamese enterprises did not know how to use the loyal customer community to influence potential customers on social networks and leverage the intelligence and creativity of customers for business operations. In addition, most Vietnamese enterprises spent a large sum of money on social networking activities but had low interaction because they often used too much text and very little visual content. To the best of our knowledge, this is the first study that attempted to identify the criteria for assessing the impact of social media on the online businesses of Vietnamese enterprises. Emphasizing that social networks have become an important channel for the business of Vietnamese enterprises, the study provides researchers and enterprises with a broader and deeper understanding of how social media can be better utilized to create a positive impact in promoting online business activity.

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Author Biographies

Tran Hung Nguyen, Lecturer, Faculty of Economic Information System and Electronic Commerce, Thuongmai University, 79 Ho Tung Mau Road, Hanoi 100000

ORCID iD : https://orcid.org/0000-0002-5777-9110

Hoang Anh Le, Lecturer, Institute for Research Science and Banking Technology, Banking University HCMC, 36 Ton That Dam Street, Nguyen Thai Binh Ward, District 1, Ho Chi Minh City, 700000

ORCID iD : https://orcid.org/0000-0002-9670-2060

Le Xuan Cu, Lecturer, Faculty of Economic Information System and Electronic Commerce, Thuongmai University, 79 Ho Tung Mau Road, Hanoi 100000

ORCID iD : https://orcid.org/0000-0002-0283-8259

Vu Thi Thuy Hang, Lecturer, Faculty of Economic Information System and Electronic Commerce, Thuongmai University, 79 Ho Tung Mau Road, Hanoi 100000

ORCID iD : https://orcid.org/0000-0002-8961-2059

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Published

2022-03-10

How to Cite

Nguyen, T. H., Le, H. A., Cu, L. X., & Hang, V. T. T. (2022). The Impact of Social Media on the Efficiency of Online Business Performance. Indian Journal of Finance, 16(3), 46–63. https://doi.org/10.17010/ijf/2022/v16i3/168703

Issue

Volume 16, Issue 3, March 2022

Section

Articles
Crossref
Scopus
Google Scholar
Europe PMC

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