Impact of Digital Marketing
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- Date Submitted: 08/02/2015 11:43 PM
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Impact of Digital Marketing in Modern Business
Background
Small and Medium Enterprises (SMEs) in Nigeria have been seeking a platform they can utilize to establish their brands in order to gain relevance and compete with large firms. With a population of at least one hundred and eighty million citizens, Nigeria has a wide variety of business opportunities. Currently, the country has been experiencing technological growth which has attributed to expansion within social networking sites. Social media is Nigeria is utilized for various purposes including entertainment and acquisition of knowledge. The social media platform can however be used as a powerful platform enabling Small and Medium Enterprises (SMEs) to compete with other large business ventures (Endwell, Jude and Nyekwere 175).
According to Kayode Adeola, Nigerian Small and Medium Enterprises (SMEs) can target at least forty three million consumers through use of social media (5). They are however reluctant to use the platform despite the country’s fast growth in mobile advertisement. The reluctance develops as they fear testing new ideas and experiencing adverse effects hence, failing to attract and retain a loyal consumer base. They should however acknowledge and embrace the power of social media. This is because social media can enable consumers to get information about products and services through strong analytic and targeted metrics to enhance sales. Consequently, user generated contents (UGC) can be uniquely used through a two way communication process as a tool to build brand loyalty. Social media conversations also have the power to influence consumer perceptions and purchasing behaviors (Kayode 10). The Small and Medium Enterprises (SMEs) ought to develop a corporate message resonating with social media users. Consequently, they can develop trusted and third party sources of information that consumers can access at lower costs to purchase products and services...
Instructor:
Course:
Date:
Impact of Digital Marketing in Modern Business
Background
Small and Medium Enterprises (SMEs) in Nigeria have been seeking a platform they can utilize to establish their brands in order to gain relevance and compete with large firms. With a population of at least one hundred and eighty million citizens, Nigeria has a wide variety of business opportunities. Currently, the country has been experiencing technological growth which has attributed to expansion within social networking sites. Social media is Nigeria is utilized for various purposes including entertainment and acquisition of knowledge. The social media platform can however be used as a powerful platform enabling Small and Medium Enterprises (SMEs) to compete with other large business ventures (Endwell, Jude and Nyekwere 175).
According to Kayode Adeola, Nigerian Small and Medium Enterprises (SMEs) can target at least forty three million consumers through use of social media (5). They are however reluctant to use the platform despite the country’s fast growth in mobile advertisement. The reluctance develops as they fear testing new ideas and experiencing adverse effects hence, failing to attract and retain a loyal consumer base. They should however acknowledge and embrace the power of social media. This is because social media can enable consumers to get information about products and services through strong analytic and targeted metrics to enhance sales. Consequently, user generated contents (UGC) can be uniquely used through a two way communication process as a tool to build brand loyalty. Social media conversations also have the power to influence consumer perceptions and purchasing behaviors (Kayode 10). The Small and Medium Enterprises (SMEs) ought to develop a corporate message resonating with social media users. Consequently, they can develop trusted and third party sources of information that consumers can access at lower costs to purchase products and services...