Leveraging Growth of SMEs through Social Media
Mechineaud, Mathieu (2023)
Mechineaud, Mathieu
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023052614829
https://urn.fi/URN:NBN:fi:amk-2023052614829
Tiivistelmä
The rise in popularity of social media (SM) has significantly transformed the business practices of small and medium-sized enterprises (SMEs). To explore this phenomenon, a comprehensive ar-chival search was conducted, encompassing 20 relevant publications as secondary data sources. The analysis of these publications was structured around a proposed model, emphasizing the ad-vantages that companies can derive from SM, such as enhanced visibility and broader audience reach through advertisements, as well as the resulting return on investment (ROI) and increased consumer loyalty. SMEs can use social networks to connect personally with their audience, gather valuable information about their customers, track market trends, improve their customer service and increase their reach. Results reveal that SM can be a powerful tool to generate higher reve-nues if used correctly, maximizing their return on investment. This study finds out how SM can benefit SMEs, focusing on the impact of marketing effectiveness, visibility, ROI and customer re-tention. By using a good target marketing strategy, SMEs can increase their visibility and aware-ness, and customer feedback can help businesses understand what works well and what doesn't, increasing customer loyalty. Overall, SM is a new way for businesses to gain exposure and stay competitive in an ever-changing world. These findings could help SME managers better under-stand how to conduct a good marketing strategy in using SM to improve their business perfor-mance leading to a higher profitability.