SOCIAL MEDIA AS A TOOL FOR MARKETTING COMMUNICATION: A STUDY OF SMALL AND MEDIUM SCALE ENTERPRISES (SMEs)

Abstract

ABSTRACT

SMEs embrace SMM due to its simplicity, cost-effectiveness, and efficacy, fostering innovation and responsiveness to customer demands. SMM plays a pivotal role in fortifying economic conditions for SMEs, contingent upon supportive conditions. This research provides the advantageous potential of social media for SMEs while recognising challenges such as technological constraints impeding optimal utilisation. The study provides insights to streamline management systems, promoting growth and competitive advantages for SMEs. Recent trends indicate a noteworthy increase in SMM usage by SMEs in Nigeria, fostering business expansion and enhancing connections between SMEs and potential clients. Social CRM, an emerging technology, captures the dynamics of business engagement with stakeholders via social media for value generation. Government initiatives, incentives, and organisational advancements can further incentivise SMEs to adopt SMM. Remarkably, Financial Commitment Obligations (FCOs) do not impact SMM (H4), underscoring the necessity of a conducive environment for successful implementation.Importance of social media for marketing of product and communicating the existence of product and services to the final consumer, It will also highlight the right marketing mix to be used in marking goods and services online in the town and the study will suggest the appropriate social media networks to be used marketing of product and services base on the peculiarity of the town.

Keywords: Small and Medium Scale, Social, Media, Enterprise, Goods, Marketing, Services