Qualitative Study on the Impact of Social Media on the Liberian SME Business Owners
Adeniyi Temitope Adetunji *
College of Business Management & Professional Studies, William R. Tolbert Baptist University, Liberia.
Roland Farley Smith Jr.
Ricks Institute, Virginia, Mounterrado, Republic of Liberia.
Oyelekan Christianah Oyewole
University of Huddersfield, United Kingdom.
*Author to whom correspondence should be addressed.
Abstract
Small and medium-scale enterprises in Liberia are reported to have provided many jobs for individuals, especially post-war. Yet, they have not maximized their potential, especially regarding marketing, advertising, and brand image promotion. Against this background, this study seeks to evaluate the impact of social media strategies on Liberian SMEs' survival and performance. The study relied on the qualitative research method. Fifteen (15) Liberian SME Business owners were purposively selected for an interview. The data gathered from the interview was analyzed using the thematic method of data analysis. It was discovered that social media strategies impact business survival and performance through low-cost marketing, an overall reduction in the cost of operations, increased visibility of SMEs, development of the business network, and increment in the customer base of SMEs. The study concludes that there is an improvement in the performance of SMEs and the survival of fierce competition due to social media strategies. The study recommends that the social media engagement of SMEs should be given proper attention to increasing the customer base and brand loyalty of their customers.
Keywords: Social media, small, medium enterprises, social media strategies, branding, marketing, Liberia
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References
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