Social Network Marketing Strategy and SME Strategy Benefits

Abstract

The study explored what benefits to small or medium-sized firms (SMEs) could be derived from the development of a social media marketing strategy. Results indicated that Facebook can facilitate communications between SME companies and customers, and can also be an important tool in creating brand recognition and broadening awareness. The importance of developing a thoughtfully designed strategy was cited, as SMEs often lack sophisticated marketing or business plans. The positive study results suggest that SMEs can derive benefits from a SN (social network) strategy and, in particular, Facebook was shown to be an important channel that enabled small and medium-sized companies to advertise their brands without requiring large budgets. Facebook presents itself as a unique environment that can enable businesses to increase prospective clients and also offer current consumers a closer relationship to the company. As such, the study indicated that presence on social networks can have an important role in both relationship development and increased sales/membership.