Dunia teknologi dan penggunaan media sosial, khususnya di Indonesia terus mengalami peningkatan setiap tahunnya. Hal tersebut mengakibatkan jangkauan pelanggan yang semakin besar sehingga menjadikan media sosial menjadi salah satu sarana komunikasi pemasaran yang banyak dimanfaatkan oleh perusahaan atau lebih dikenal dengan istilah Social Media Marketing. Penelitian ini bertujuan untuk menguji pengaruh dari Social Media Marketing Activities terhadap Customer Loyalty melalui Customer Equity Drivers (CED) yang terdiri dari Value Equity, Brand Equity, dan Relationship Equity. Selanjutnya, desain penelitian yang digunakan berupa conclusive research dengan pengumpulan data cross sectional yang difokuskan pada top five e-commerce Indonesia. Dalam menguji hipotesis digunakan metode Structural Equation Model (SEM) terhadap 161 responden yang ditentukan melalui teknik judgmental sampling. Temuan dari penelitian ini mengungkapkan bahwa Social Media Marketing Activities berpengaruh terhadap Value Equity, Brand Equity dan Relationship Equity. Hal yang serupa juga terjadi pada Customer Loyalty, dimana Brand Equity dan Relationship Equity berpengaruh positif, sementara Value Equity berpengaruh positif, namun tidak signifikan. Kemudian, melalui penelitian ini diharapkan dapat memberikan implikasi manajerial yang baik, khususnya bagi para peneliti dan entitas bisnis pada sektor e-commerce.
The world of technology and the use of social media, continues to increase every year, especially in Indonesia. This has resulted in increasingly greater customer reach, making social media as one of marketing communication tool that is widely used by companies or better known as Social Media Marketing. This study aims to examine the effect of Social Media Marketing Activities on Customer Loyalty through Customer Equity Drivers (CED) consisting of Value Equity, Brand Equity, and Relationship Equity. Furthermore, the research design used was conclusive research with cross sectional data collection that focused on Indonesia's top five e-commerce. In testing the hypothesis, Structural Equation Model (SEM) method is used and applied for 161 respondents which are determined through judgmental sampling techniques. The findings of this study reveal that Social Media Marketing Activities affect Value Equity, Brand Equity and Relationship Equity. The same thing also happened to Customer Loyalty, where Brand Equity and Relationship Equity had a positive effect, while Value Equity had a positive effect, but it was not significant. Then, through this research it is expected to have good managerial implications, especially for researchers and business entities in the e-commerce sector.