Social media marketing has become a pillar of modern brand development strategies, completely overturning old conceptions regarding digital promotion. The literature highlights the dominant role of social media in brand stories and direct consumer interaction. The explosive growth in social media is behind this transformation, compelling scholars to explore the profound effects of marketing techniques. One important focus is how social media has transformed traditional marketing techniques, especially in the hospitality industry. A study by Bilgin (2018) reveals that the interactivity and openness of platforms such as Facebook have allowed brands to move beyond old-school, static, one-way communications. However, now, brands can have an ongoing, immersive, two-way interaction with consumers. The author found that social media marketing activities are vital for brand imaging and loyalty (Bilgin, 2018). This crossover is essential in building a closer relationship between the brand and the audience, where the sale becomes secondary to just getting people together.
Scholars point to the unique characteristics of these social media platforms that allow brands to produce captivating and attractive content. Another study done by Monica and BalaÅŸ (2014) articulates that brands can win the attention of their target audience over attractive visuals, stories and real-time updates. These interactive platforms also provide brands with instantaneous feedback, allowing them to change strategy following consumer responses. The iterative process strengthens the brand relevance and makes people feel that they are being heard and appreciated by the brand.
In addition, the literature explores brand engagement as a core component of social media marketing effectiveness. When approached selectively, these platforms can help brands go past being just vendors (Menapace, 2019). They can create an active fan base and customer community in the hospitality industry. According to Menapace (2018), Airbnb operates globally and uses different types of branding depending on the customer’s taste and preferences. In doing so, this engagement goes beyond being a mere product or service consumer. It urges everyone to participate in discussions, share user-generated content, and contribute their brand story (Monica & BalaÅŸ, 2014). The literature provides a complete picture of how social media has changed brand development in the hospitality industry. Today, covering everything from changing old-school marketing methodologies to generating interactive topics and creating a communal atmosphere of belonging, social media has become an invaluable weapon for brands fighting their way in the digital age (Bilgin, 2018).
Impact of Collaborative Consumption on Hospitality Brands
The user-generated content goes beyond traditional marketing, providing immediate and reliable feedback on service quality, price and overall experience (Michael et al., 2017). Such shared experiences provide a compelling and trustworthy source of information for potential customers. This is something the literature emphasizes again and again. Collaborative consumption’s real power lies in a community’s combined wisdom. According to Machuca et al. (2022), collaborative consumption has gained more authentic experiences due to a growing desire for consumers to live more authentic experiences. Social Media as a Platform for Consumers ‘Joint Participation Researchers question how social media can be used to relate positive experiences and provide helpful feedback. With two-way communication, transparency and responsibility also increase within the hotel industry, as various hotels must face and respond to customer concerns (Machuca et al., 2022). In this way, service quality and overall customer satisfaction constantly improve through user-generated content on social media sites that has an iterative nature.
Also, scholars indicate that collaborative consumption is conducive to attracting new clients. Seeking the truth (authentic and reliable information), potential customers turn to user-generated content on social media for guidance in making good choices. A study done by Perren and Grauerholz (2015) articulates that collaborative consumption is considered part of the sharing economy because it enables individuals to rent out underused assets. This approach is applicable when the price of a particular asset, such as a house, is high, and one individual does not utilize the same asset. Peer praise and positive reviews are powerful endorsements. They help educate potential clients, and once a customer is satisfied, turn him into an advocate of the brand (Perren, & Grauerholz 2015). In this case, Airbnb developed an online platform which enables homes, apartment owners and other dwelling premises to rent or lease their spaces for others (Machuca et al., 2022). This is applicable when owners may occupy residences only for part-time periods or when they intend to be away for an extended time. It might be difficult for individual renters to afford the residence by themselves; hence, by dividing the cost across different renters at separate times, the residence becomes affordable (Machuca et al., 2022).
References
Machuca, M. M., Cheikhrouhou, S., Bélisle, D., & Marimon, F. (2022). Measuring the overall customer experience in a hospitality collaborative consumption context: Evidence from Airbnb users. Journal of Telecommunications and the Digital Economy, 10(2), 126-146.
Michael O’Regan, D., & Choe, J. (2017). Airbnb: Turning the collaborative economy into a collaborative society. Collaborative Economy and Tourism: Perspectives, Politics, Policies and Prospects, pp. 153–168.
Perren, R., & Grauerholz, L. (2015). Collaborative consumption. International Encyclopedia of the Social & Behavioral Sciences, 4(2), 139-144.
Menapace, D. C. (2019). Airbnb: Powerful Global Branding in Action. Journal of Economic Development, Management, IT, Finance, and Marketing, 11(2), 44-53.
Bilgin, Y. (2018). The effect of social media marketing activities on brand awareness, brand image and brand loyalty. Business & management studies: An international journal, 6(1), 128–148.
Monica, B., & BalaÅŸ, R. (2014). Social media marketing to increase brand awareness. Journal of Economics and Business Research, 20(2), 155-164.
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