Marketing in SMEs: a '4Ps' self-branding model

Purpose – The purpose of this paper is to explore the extent to which traditional marketing theory and practice can be applied in small- and medium-sized enterprises (SMEs) and consider how owner-managers perceive their own role in marketing within a small business setting. Design/methodology/approach – A qualitative exploratory approach using semi-structured in-depth interviews amongst owner-managers of SMEs in the UK. Findings – SME marketing is effective in that it embraces some relevant concepts of traditional marketing, tailors activities to match its customers and adds its own unique attribute of self-branding as bestowed by the SME owner-manager. Research limitations/implications – The study was limited to the UK and to a small sample of SMEs and as such the findings are not necessarily generalisable. Originality/value – A “4Ps” model for SME self-branding is proposed, which encompasses the attributes of personal branding, (co)production, perseverance and practice

Marketing in Online Businesses:The Case of Migrant Entrepreneurial Businesses in the UK

The study presents an empirical investigation of the marketing activities undertaken by online businesses owned by migrant entrepreneurs and is framed by the theoretical lens of entrepreneurial marketing. Key informant interviews are undertaken with 22 entrepreneurs operating online businesses in the UK and augmented by other sources of data. The study finds that the resources available to the entrepreneurs are shaped by their migrant heritage and that they draw on these resources to market their online businesses. The study also finds that, consistent with notions from entrepreneurial marketing, the online nature of their businesses allow the entrepreneurs to meet their own needs and preferences, which are also shaped by their migrant heritage. The study is important since it provides empirical evidence and a theoretically grounded understanding of how online businesses offer migrant entrepreneurs the opportunity to break out of the low growth, low margin, vacancy chain openings and enter high growth, high margin, post-industrial sectors

Social Media Paradigm: An Antidote to the Competitive Divide Between Small and Large Businesses

Concern for small businesses has been high since the recession in 2008. Small entrepreneurs were not generating enough income to keep their businesses open and the market was deterring anyone from creating a start-up company. The domination of social media in the digital world may be the solution to the constant struggle small businesses face against their larger competitors. This paper will discuss the social media phenomenon and how although small businesses face obstacles in implementing an online marketing system, social media will level the playing field by giving small businesses the chance to compete in the big leagues

Antecedents of the Utilization of Social Media and its Impact on Micro and Small Enterprises Performances

This study aimed to analyze the antecedents of the utilization of social media for MSEs and its impact on performances. Performances such as; service performance, sales performance, marketing performance, internal operating performance and innovation performance. The population in this study were MSEs in the Special Region of Yogyakarta, the sampling technique used in this study was purposive sampling with criteria of (1) MSEs locationed in Sleman Regency and (2) MSEs which use social media (Faceebook, Instagram) for marketing purposes. Respondents in this study amounted to 100 MSEs. WarpPLS used for data analysis technique. The results showed that the utilization of social media by MSEs was influenced by interactivity, cost effectiveness and compatibility. Meanwhile, trust does not affect the utilization of social media. The utilization of social media by MSEs has a positive effect on each performances. &nbsp

The Impact of Social Media on the Performance of Microfinance Institutions in Developing Countries:A Quantitative Approach

PurposeOver the last few decades, microfinance industry is argued to have played a constructive role in alleviating poverty level and providing the underprivileged with access to financial services. Statistics from the World Bank reveal that, currently, only 4% of the underprivileged have been served out of the 3 billion+ potential clients. Such results are due to several claims, particularly the operational and financial challenges faced by microfinance institutions (MFIs) in the constant flux inviting more attentions towards its performance. While explicit attention is given by many researchers towards mobile banking and information and communication technology (ICT) in improving the MFIs’ performance, the study on how social media, as a rapidly growing online phenomenon, can impact on the MFIs’ performance remains scarce. As such, this study aims to investigate this impact based on four dimensional performance indicators: efficiency, financial sustainability, portfolio quality and outreach.Design/methodology/approachA model is proposed and tested to ascertain the relationship between social media applications and organisational performance. In so doing, web-based questionnaires have been used to collect data from MFI employees in developing countries. Results reveal a significant influence of the social media over the MFIs’ performance, offering valuable insights into both researchers and practitioners in the domain of microfinance, as well as social media—conforming that the adoption of social media as marketing, advertising and communication tools may significantly improve the MFIs’ performance.FindingsThe results demonstrate that there is a positive and significant impact of social media use within microfinance on the key indicators of MFIs. They also show that the highest impact of social media usage within the microfinance is on the portfolio quality. In addition, it was found that marketing and advertising; communication and sales and distribution are the main areas where social media is able to support while social networking websites are the most popular platforms employed in MFIs.Originality/valueThis study adds to the existing literature few theoretical and practical aspects. First, this study developed a model for assessing the value of social media as a new phenomenon within this type of organisation. Second, it offers microfinance sponsors, managers and policy makers with a frame of reference to understand what social media platform can be deployed for each purpose. Third, with the identification of the main MFIs’ performance indicators, this research provided a reference of performance measurement guide for microfinance industry when assessing different technological employment

Pengaruh Inovasi Produk Dan Sosial Media Terhadap Kinerja Keuangan Perusahaan

Penelitian ini mengkaji pengaruh penerapan inovasi produk dan media sosial terhadap kinerja perusahaan keuangan dan juga melihat dampak Covid-19. Populasi penelitian ini adalah seluruh perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2018-2020. Sampel dalam penelitian ini adalah perusahaan manufaktur yang harus menerbitkan laporan tahunan dan sesuai dengan kriteria. Alat analisis penelitian ini adalah SPSS versi 25. Hasil penelitian menyatakan bahwa inovasi produk berdampak terhadap kinerja keuangan tetapi tidak berdampak pada sosial media. Penelitian ini juga membuktikan bahwa Covid-19 berpengaruh terhadap inovasi produk dan kinerja keuangan perusahaan tetapi tidak berpengaruh pada media sosial. Dengan penerapan inovasi produk, perusahaan akan mampu meningkatkan kinerja keuangan perusahaan, terutama di tengah pandemi Covid-19

Creating a Social Media Marketing Strategy for a Small Business

As the world continues to digitalize, it has never been more crucial to use and understand social media when running a business of any size. Social media is where people share their ideas, experiences, and information with the world. People can reach a larger audience once they grow their profiles and understand who the audience truly is. From a business standpoint, social media should be used to display products, services, and develop an open relationship with the audience and customers

Analisis Pemanfaatan Social Commerce bagi UMKM: Anteseden dan Konsekuen

The purpose of this study is to investigate factors that influence social media usage among small and medium enterprises (SMEs) and the impact on financial and non-financial performance. Convenience sampling was used to collect data. The respondent in this study are owner of SME that use facebook and instagram on their business activities. Based on SEM-PLS analysis, this study revealed that interactivity, cost effectiveness, and trust was identified as factors that motivate the usage social media. Meanwhile, compatibility has no significant effect on social media usage. Social media usage has a strong positive impact on financial performance (sales) and non-financial performance of SMEs in terms of customer service, internal operations, and marketing. In addition, this study indicate that social media usage has no positive effects on perceived impact on innovation.Keywords: social media, SME, performance, inovation,social commerc

Social Media on the Farm: A Comparative Analysis of the Digital Marketing of Select Small Businesses in Agriculture

Social media has become a crucial tool in the marketing world and can help companies of all sizes grow in a variety of different ways. Specifically looking at small business farms, social media is extremely important in allowing transparency and showing the consumers how their food is raised. The purpose of this study was to examine the social media and online marketing strategies of selected meat processing small businesses. A comparative analysis was conducted on Ballerina Farm and Five Marys Farms. The research was conducted utilizing information from both farms’ websites and Instagram pages. A comparative analysis was performed using a tool created by the researcher. The results showed that both farms are successful in reaching their target audience and keeping them engaged. The researcher advised that both companies should communicate more with their followers and post content that resonates with customers

Small Business Strategies for Sustainability Beyond 10 Years

Small businesses are vital to the health of the U.S. economy, as they account for approximately 50% of all jobs and 99% of all firms. Historically, there has been a problem with small businesses being able to sustain their operations beyond 10 years. According to the U.S. Small Business Administration, when averaged across all industries, approximately 75% of new businesses failed within the first 5 years. The purpose of this multiple case study was to explore the business strategies some small business owners use to sustain their company beyond 10 years of operation. Data were gathered through semistructured interviews and a review of financial documents with a purposive sample of eight small business owners. Transcript reviews and member checking were completed to assure credibility and trustworthiness. Based on the methodological triangulation of the data sources collected, four emergent themes were identified after completing the data analysis: (a) building relationships, (b) finding your passion, (c) enhancing business knowledge, and (d) ensuring financial management. Small business leaders and their stakeholders may use the findings to advance the evolution of sustainable business models that meet the needs of small business owners