Digital Marketing: An Influence on the Performance of Small and Medium Enterprises
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Date
2024-10-11
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Abuja Journal of Administration & Management, University of Abuja
Abstract
This study explored the impact of digital marketing on the performance of small and medium
enterprises, specifically in Oyo State, Nigeria. the study aimed to determine the impact of
influencer marketing and content marketing on market share and sales growth respectively.
The population of 7,987 small and medium enterprises used as provided by the National
Bureau of Statistics (2020). The study used Krejcie and Morgan formula to determine the
sample size which gave a value of 366 SMEs in Oyo State, Nigeria. However, 358copies of
questionnaire were returned and used for the study. Probit and extreme regression were
adopted for the study. The study revealed that influencer marketing increased the market share
of the SMEs and content marketing positively influenced not just the sales growth of the
selected SMEs but also the sales revenue and profitability immensely. The study concluded
that the digital marketing channels had positive effects on the performance of SMEs in Oyo
State. The study recommended that influencer and content marketing should be integrated as
part of the marketing channels as used by the selected SMEs so as to increase customer base
and brand awareness to enhance market share and sales growth.