Exploring Social Media as a Strategy for Small and Medium Enterprises (SMEs) Performance: Evidence from Oyo State, Nigeria
South Asian Journal of Social Studies and Economics,
This study explored the role of social media strategy in the performance of SMEs in Oyo state, Nigeria. Specifically the study identified the various types of SMEs using Social Media for marketing, examined the relationship between social medial strategy and SMEs performance, and determined the factors influencing adopting social medial strategy by SMEs in Nigeria. The population of this study was comprised one thousand four thousand and fifty eight (1,458) SMEs that registered with the SMEDAN, while one hundred and thirty two (132) was selected as a sample size for the study. The data collection instrument for the study was a structured questionnaire and personal interview. Data analysis was performed with the aid of descriptive and inferential statistics. The result showed that Facebook, Twitter and LinkedIn are the major social media employed by the SMEs to exploit competitive advantage. The result also revealed that build brand awareness, promote products and/or services, and collect customers feedback are the majors principal factors influencing adoption of the social media strategy by SMEs. In conclusion, the study confirmed that there a significant relationship between social medial strategy and SMEs performance. Subsequently, the study recommended that Small and Medium Enterprises Development Agency of Nigeria should sensitize the SMEs operators on how to make use of social media strategy and benefits accrued to its usage. Also, government should provide conducive business environment that will enable SMEs to thrive.
How to Cite
National Bureau of Statistics. Small and medium scale enterprises (SMEs) in Nigeria; 2017.
Onugu BAN. Small and medium enterprises (SMEs) in Nigeria: Problems and challenges. PhD Thesis, St. Clements’s University [Online]; 2005.
Aremu MA, Adeyemi SL. Small and medium scale enterprises as a survival strategy for employment generation in Nigeria. Journal of Sustainable Development. 2011;4(1).
Abed SS, Dwivedi YK, Williams MD. Social media as a bridge to ecommerce adoption in SMEs: A systematic literature review. The Marketing Review. 2015;15: 39-57.
Ashwini K, Shalaka A. Impact of social media on entrepreneurship and entrepreneurial performance: Special reference to small and medium scale enterprises. SIES Journal of Management. 2014;10(1):1-10.
Mwangi MW, Wagoki J. Effect of social media on performance of advertisement business in the mainstream media in Kenya: A survey of leading media groups in Kenya. International Journal of Economics, Commerce and Management United Kingdom. 2016;4(4):159-178.
Veronse MJ, Grace K, Daniel K, Bichanga WO. Role of social media networks in penetration of international markets by small and medium enterprises in Kenya: A case of small businesses at Yaya Centre Nairobi County. European Journal of Business and Management. 2014;6(26):1-7.
Evans LL. Social Media marketing: Strategies for engaging in Facebook, Twitter & other social media. Indianapolis: Que Publishing. Factoria declientes. (08 de September de 2012). Factoria declientes. Recuperado el 20 de November de 2012, de ÀQue es un blog de empresa? 2010.
Safko L, Brake KD. The social media bible - Tactics, tools & strategies for business success. Voyager. John Wiley & Sons; 2009.
Weinberg BD, Pehlivan E. Social spending: Managing the social media mix. Business Horizons. 2011;54(3):275–282.
Adegbuyi OA, Akinyele FA, Akinyele ST. Effect of social media marketing on small scale business performance in Ota-Metropolis, Nigeria. Int. J. Soc. Sci. Manage. 2015;2(3):275-283.
Kaplan AM, Haenlein M. Users of the world, unite! The challenges and opportunities of social media. Business Horizons. 2010;53(1):59–68.
Góngora MO. Study of the factors influencing the adoption of social media in SMEs. Master Thesis of Universitat Politecnica De Catalunya Bercelonatech; 2016.
Fischer E, Reuber AR. Social interaction via new social media: (How) can interactions on Twitter affect effectual thinking and behavior? Journal of Business Venturing. 2011;26:1-18.
Andzulis JM, Panagopoulos NG, Rapp A. A review of social media and implications for the sales process. Journal of Personal Selling & Sales Management. 2012;32(3): 305-316.
Jutla D, Bodorik P, Dhaliwal J. Supporting the E-business readiness of small and medium-sized enterprises: Approaches and metric. Internet Research: Electronic Networking Applications and Policy. 2002;12(2):139-64.
World Bank. World Development Indicator Database; 2006.
Hallberg K. Small and medium-scale enterprises: A framework for intervention. Washington DC. World Bank; 1999.
European Commission. Use of social media by European SMEs a study prepared for the European Commission DG Communications Networks, Content & Technology; 2013.
Muhammad SS. The benefits of social media marketing on SMEs brand awareness. Bachelor Project of Universiti Teknikal Malaysia Melaka; 2014.
Chheda PA. Impact of social media marketing on performance of micro and small businesses. Master Thesis of D. Y. Patil University, Navi Mumbai; 2014.
Hajli MN. A study of the impact of social media on consumers. International Journal of Market Research. 2013;56(3).
Jagongo A, Kinyua C. The social media and entrepreneurship growth: A new business communication paradigm among SMEs in Nairobi. International Journal of Humanities and Social Science. 2013; 3(10):213-227.
Chi H. Interactive digital advertising vs. Virtual brand community: Exploratory study of user motivation and social media marketing responses in Taiwan. Journal of Interactive Advertising. 2012;12(1):44-61.
Mugenda O, Mugenda G. Research methods: Quantitative & qualitative approaches. Nairobi – Kenya, Acts Press; 2003.
Chitwood L. Which social media platform is best for your business? 2014.
Levy S. How to choose the best social media platform for your business; 2013.
Abstract View: 3431 times
PDF Download: 1442 times