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Social media as a promotional tool towards SME's development: Evidence from the financial industry in a developing economy

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dc.title Social media as a promotional tool towards SME's development: Evidence from the financial industry in a developing economy en
dc.contributor.author Amoah, John
dc.contributor.author Jibril, Abdul Bashiru
dc.relation.ispartof Cogent Business and Management
dc.identifier.issn 2331-1975 Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued 2021
utb.relation.volume 8
utb.relation.issue 1
dc.type article
dc.language.iso en
dc.publisher Taylor and Francis Ltd.
dc.identifier.doi 10.1080/23311975.2021.1923357
dc.relation.uri https://www.tandfonline.com/doi/full/10.1080/23311975.2021.1923357
dc.subject social media en
dc.subject advertising en
dc.subject promotion tool en
dc.subject SME's en
dc.subject financial industry en
dc.subject Ghana en
dc.description.abstract 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 non-probability sampling technique was employed for the collection of the data of which 648 respondents were dully accurate for the data processing/analysis. Using PLS-SEM 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. © 2021 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1010375
utb.identifier.obdid 43882404
utb.identifier.scopus 2-s2.0-85105962687
utb.identifier.wok 000651226100001
utb.source j-scopus
dc.date.accessioned 2021-06-22T16:32:30Z
dc.date.available 2021-06-22T16:32:30Z
dc.description.sponsorship Tomas Bata University in Zlin [IGA/FaME/2021/005, IGA/FaME/2020/002, IGA/FaME/2021/012]
dc.description.sponsorship Univerzita Tomáše Bati ve Zlíně: IGA/FaME/2020/002, IGA/FaME/2021/005, IGA/FaME/2021/012
dc.format.extent 21
dc.rights Attribution 4.0 International
dc.rights.uri https://creativecommons.org/licenses/by/4.0/
dc.rights.access openAccess
utb.ou Department of Business Administration
utb.contributor.internalauthor Amoah, John
utb.contributor.internalauthor Jibril, Abdul Bashiru
utb.fulltext.sponsorship This work is supported by Tomas Bata University in Zlin through; IGA/FaME/2021/005. Significant factors in the sustainability of economic growth with a focus on the SME segment. The article was further supported by the following projects: IGA/FaME/2020/002 and IGA/FaME/2021/012.
utb.wos.affiliation [Amoah, John] Pentecost Univ, Dept Management & Mkt, Accra, Ghana; [Amoah, John; Jibril, Abdul Bashiru] Tomas Bata Univ Zlin, Fac Management & Econ, Dept Business Adm, Zlin, Czech Republic; [Jibril, Abdul Bashiru] Int Univ Rabat, Rabat Business Sch, Dept Mkt, Rabat, Morocco
utb.scopus.affiliation Department of Business Administration, Faculty of Management and Economics, Tomas Bata University, Zlin, Czech Republic; Department of Marketing, Rabat Business School, International University of Rabat, Morocco
utb.fulltext.projects IGA/FaME/2021/005
utb.fulltext.projects IGA/FaME/2020/002
utb.fulltext.projects IGA/FaME/2021/012
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Attribution 4.0 International Except where otherwise noted, this item's license is described as Attribution 4.0 International