Social Media and its Role on SME's - Review Writing - Management Assignment Help

Assignment Task

Introduction The emergence of social media has fundamentally changed the way businesses communicate, collaborate, consume and co-create as it substitutes physical proximity with virtual interaction(Dahnil et al., 2014). One of the most transformative impacts people have witnessed is on small businesses worldwide. As it has become intrinsic to their business functions such as marketing, advertising, public relation development and customer service (Hanna et al., 2011). It has radically transformed the way businesses are reaching out to people and has become a valuable part of their survival (Schaupp and Belanger, 2014). Research by Jantsch (2010) implies that small businesses develop innovative ways to engage with customers on adapting robust SM strategies. With Internet connectivity reaching every nook and corner of this world; more and more people are using this platform to do their businesses. Social media is an important tool for all businesses because it allows businesses to engage with, pay heed to, and pick up their customer's feedback in a distinctive way which they have never been able to do before (Grewal et al., 2019). These technologies are pivotal to small businesses as they often face paucity of conventional resources or finances to reach their potential audiences. Since, the inception of social media it has become mainstream for all businesses large or small to communicate with customers in a more personalized way, develop brand image and promote businesses popularity. Social media is frequently utilised as a source of information and knowledge dissemination medium, thus influencing people's perspectives and attitudes. (Rugova and Prenaj, 2016). Moreover, this has helped new entrepreneurs to transcend beyond boundaries and leverage this medium to conduct their marketing efforts.

Aim

The aim of this paper is to delve into the inseparable role social media plays in small businesses in today's business environment. And to contribute to the scarce qualitative research available on the value of social media in SME’s.

The aim is to understand the relationship between social media and small businesses. As social media has a vital role to play in the effectiveness of communication. This work will identify the factors that influence the use of social media marketing by SME’s. Also, it will scrutinize the effect social media has on small businesses. The objective is to improve the overall understanding of the advantages and challenges of this medium used by these businesses. It will help us to gauge the financial and non-financial benefits that businesses can achieve using this platform by giving us extended knowledge on it. Additionally, this paper will help to find out the threats and opportunities SME’s face once they decide to implement this as a long-term strategy. It will give an in-depth analysis of social media marketing and present with clarification and explanation on its various forms.

Research Questions

What is the impact of social media on marketing in SME’s?

What is the relationship between social media and small businesses?

Does social media impact the productivity of an SME?

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