Social Media as a Promotional Tool Towards SME’s Development: Evidence from the Financial Industry in a Developing Economy

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F21%3A63527438" target="_blank" >RIV/70883521:28120/21:63527438 - isvavai.cz</a>

Result on the web

<a href="https://www.tandfonline.com/doi/full/10.1080/23311975.2021.1923357" target="_blank" >https://www.tandfonline.com/doi/full/10.1080/23311975.2021.1923357</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1080/23311975.2021.1923357" target="_blank" >10.1080/23311975.2021.1923357</a>

Result language

angličtina

Original language name

Social Media as a Promotional Tool Towards SME’s Development: Evidence from the Financial Industry in a Developing Economy

Original language description

The notable contribution of small and medium enterprises (SMEs) in the development of socio-economics has been very encouraging in terms of its GDP contribution and employment creation. Both developed and developing countries are living testimonies of the contributions by SMEs. The primary aim of this paper is to assess the use of social media as a promotional tool for SME development. To achieve this objective, a total of 800 structured questionnaires were developed through an intercept and online survey to obtain data for the exercise. A nonprobability sampling technique was employed for the collection of the data of which 648 respondents were dully accurate for the data processing/analysis. Using PLSSEM with the help of ADANCO software v 2.2.1, findings revealed that the use of social media as an advertising tool has a significant effect on a firm’s financial performance, business motivation, customers’ perspective/attraction, and an increase in market share, thus, a key in reflecting a positive change in their marketing and promotional activities in the consumer market. The findings of the study are both beneficial to practitioners/owners of SMEs and the social media marketing literature in general. This study further strengthens the need for businesses to invest in digital marketing tools and employ them effectively to stay competitive in the long term for the firm’s growth and survival.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

50201 - Economic Theory

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2021

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Cogent Business and Management

ISSN

2331-1975

e-ISSN

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Volume of the periodical

8

Issue of the periodical within the volume

1

Country of publishing house

GB - UNITED KINGDOM

Number of pages

21

Pages from-to

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UT code for WoS article

000651226100001

EID of the result in the Scopus database

2-s2.0-85105962687