The Role of Social Media in Creating the Competitive Advantage of Refah Kargaran Bank

This research aims to provide a competitive advantage model in the social media content in Refah Kargaran Bank. The statistical society in this research was the customers of Refah Kargaran Bank who used the social media applications. The data collection tools in the qualitative section was open interview and in quantitative was questionnaire which extracted in the qualitative section. It is concluded from the result that the key factors in making competitive advantage based on the role of social media and Virtual network based are developing the standards, regulations and procedures, designing the financial and non-financial rewards, making, developing, and implanting the technological infrastructure, optimizing the social media based virtual competitive advantages processes, using skilled human resources, creating internal group competitive advantage, establishing appropriate internal and external communications and monitoring the environment, appropriate structure and banking system and culture in the bank environment. The results showed that to make an excellent virtual competitive advantage in social media the following factors must be optimised. These factors included Legal-Circular-Protective Patterns, Structural and Systemic Factors, scientific-technological factors, Humanitarian and individual factors, organizational culture factors, virtual- capital factors, and communicational factors. Moreover, the results suggested that the relationship between them must be balanced.