HARNESSING THE POWER OF SOCIAL MEDIA IN ACADEMIC ENVIRONMENTS

Abstract

: The retention of customers is a global problem with serious implications for individuals, public as well as private organizations. Customer retention is a key factor for fiscal success and competitive advantage in today’s global economy. Moreover, applying communication and relationship-building techniques is a common practice to increase customer loyalty and retention. Although retention is crucial to the economic success of an educational institution, higher education administrators often ignore quality customer relationship management as a solution for retention. In order to remain financially viable, higher education administrators needed to place greater interest on customer retention.As college and university enrollment officers attempt to retain students using classic programs and models, many students have shifted their methods of communication to more interactive, self-created content used to position individuals as members of groups. Researchers have also demonstrated the importance of active, two-way communication in the customer relationship management and student retention processes.  Findings from this study may contribute to the existing body of knowledge regarding the potential relationship between student retention and social media. Furthermore, the results of this study might provide guidance for academic leaders to improve student loyalty efforts and increase competitive advantage, thereby influencing long-term profits by reducing student attrition.