SOCIAL MEDIA MARKETING AND ITS IMPACT ON SMALL AND MEDIUM SCALE ENTERPRISES (SMEs) DEVELOPMENT IN BENIN CITY, NIGERIA

ABSTRACT

This study examines the impact of social media marketing on small and medium scale enterprises (SMEs) development in Benin City. The objectives of the study examines the impact of social media marketing on SMEs development; ascertains the challenges that SMEs face while implementing social media marketing in brand awareness and visibility and; determines the social media strategy needed to develop SMEs business in Benin city. Three (3) research questions and two (2) hypotheses were raised to guide the study. The research population comprises of small and medium scale enterprises (SMEs) in Ugbowo, located in Ovia North-East Local Government Area, Benin City Edo State. The sample size consisted of hundred (100) operators of small and medium scale enterprises (SMEs) using the multistage sampling technique. A descriptive cross sectional research design was adopted and data was collected with a well-structured questionnaire as the research instrument. The data was analyzed using descriptive statistics (frequency count, simple percentage, mean and standard deviation) and inferential statistics (linear regression analysis). The result shows that ninety-seven percent (97%) of SMEs in the studied area use social media for marketing purposes, with WhatsApp, Facebook and Instagram being the most used social media platforms amongst the SMEs. This study found out that social media marketing significantly (55.2%) contributes to the development of small and medium scale enterprises (SMEs) in Ugbowo Benin City. It was concluded that SMEs need to improve on the use of clear and distinct brand voice and visuals that appeals to customers and also increase their presence on diverse social media platforms in order to increase the business development and sustainability.