Navigating Success: The Impact of Social Media Strategies on Small and Medium-Scale Businesses in Ikot Ekpene, Akwa Ibom State, Nigeria

Abstract

Purpose: The increasing influence of social media has significantly transformed small and medium scale businesses (SMSBs) operations in developing regions. This study assesses the impact of various social media tools on SMSB performance in Ikot Ekpene Local Government Area, Akwa Ibom State, Nigeria. It aims to evaluate the effectiveness of tools such as content creation, marketing strategies, brand building, networking, and e-commerce integration. Methodology: Using a survey design, data were collected from 331 respondents out of a sample of 363 SMSBs, drawn from a population of approximately 3,957, determined using the Yaro Yamane formula. Structured questionnaires facilitated data collection, and analyses included simple percentages, frequency tables, SPSS coding, and multiple regression analysis. Findings: The findings reveal that content creation and sharing significantly enhance SMSB performance (t = 5.809, p = 0.000). In contrast, marketing strategies exhibit a significant negative impact (t = -4.455, p = 0.000), indicating effectiveness challenges. Brand building and awareness positively influence performance (t = 6.861, p = 0.000), emphasizing the need for a strong brand presence. Networking and collaboration yield the most substantial positive effect (t = 9.019, p = 0.000), highlighting the value of strategic partnerships. Conversely, e-commerce and sales integration show no significant effect (t = -0.468, p = 0.640), suggesting it may be less critical than other strategies. The study concludes that leveraging social media tools strategically can enhance SMSB performance. It recommends that SMSBs prioritize high-quality content, brand building, and effective networking while re-evaluating traditional marketing strategies for improved impact. Originality / Value: This research contributes valuable insights into how specific social media strategies affect SMSB performance in developing countries, offering actionable recommendations for business owners in Akwa Ibom State and similar regions.