The impact of social media on small and medium enterprises (SMEs) in the service-based organizations

Abstract

Social media has been an instrumental tool that Small and Medium Enterprises(SMEs) can benefit from integrating it's into their marketing systems towards their growth and development. The study revealed that SMEs are in the right direction by adopting social media as a game-changer towards their growth and development. Small and medium enterprises would enjoy possible benefits like an increase in customer base, market value, a modern tool for communication, and an increase in profitability. The researchers adopted the quantitative approach towards this study objective. Questionnaires distributed were therefore answered by the managerial staff of service-based organizations in the insurance industry. Out of the 135 questionnaires distributed, 105 returned were dully filled correctly for the data analysis. The approach of PLS-SEM software was used in analyzing the data to established the meaningful results of the findings. The findings of the study are beneficial to practitioners to reflects on their marketing strategies and also contribute to the academic field. © 8th European Conference on Social Media, ECSM 2021.