Digital Advertising and Brand Loyalty Among Small and Medium Scale Enterprises (SMEs)
CHAPTER ONE
Objective of the study
The primary objective of this study is to comprehensively investigate the relationship between digital advertising and brand loyalty among Small and Medium Scale Enterprises (SMEs). The research aims to achieve the following specific objectives:
- To analyze the various digital advertising channels and strategies employed by SMEs.
- To assess the existing metrics used by SMEs in measuring the effectiveness of their digital advertising campaigns.
- To explore the correlation between digital advertising efforts and the enhancement of brand visibility and awareness.
CHAPTER TWO
REVIEWED OF RELATED LITERATURE
SMEs
The term SMEs is used more and more often, but is often quite unclear Savey, et al., (2020). Scholars interpret this term differently (Mazzarol, 2015). With varieties of companies ranging from local small business to medium tech companies now identify as small and medium scale-enterprises, therefore bringing more prominence to this term (COOK. S.,2020). Small and medium scale-enterprise by definition could be addressed as an entrepreneurial company established by one or more founders for the sole purpose of operating business activities that is designed to manufacture and sell innovative or valuable products and services to target customers, with employees less than 250, even as the figure differs across countries LaariSalmela, et al., (2017) SMEs could be classified as industries that have been in business operations for less than 10 years according to a comprehensive literature analysis by (Gruber, 2004). The first and most frequently attribute of SMEs could be referred to as novelty, as they more than often not need to evolve from a level of naivety of total awareness about the business environment they compete in. Secondly, the size of SMEs is often used in identifying them. And the third feature is the variability of the environment, which is reflected in the instability of gaining and retaining customers and as well realizing significant profit percentage (Ergeer & Sigfridsson, 2018). Therefore SMEs can be defined as small and medium-scaled enterprises created to provide valuable products and services with limited capital. Small and medium scale enterprises (SMEs) are important for maintaining a strong economic growth Ates et al.,(2013). They are not just smaller version of large firms, but also have characteristics that they depend on within the context of specific economic, cultural and political construct (Castells, 2010).
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
RESEARCH DESIGN
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
INTRODUCTION
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to ascertain Digital Advertising and Brand Loyalty among Small and Medium Scale Enterprises (SMEs)”. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing an Digital Advertising and Brand Loyalty among Small and Medium Scale Enterprises (SMEs)
Summary
This study was on Digital Advertising and Brand Loyalty among Small and Medium Scale Enterprises (SMEs)”. Three objectives were raised which included: To analyze the various digital advertising channels and strategies employed by SMEs, to assess the existing metrics used by SMEs in measuring the effectiveness of their digital advertising campaigns and to explore the correlation between digital advertising efforts and the enhancement of brand visibility and awareness. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from selected SMEs in Lagos state. Hypothesis was tested using Chi-Square statistical tool (SPSS).
Conclusion
This study concluded that social media marketing components (customer engagement, social interactions, customization, branded entertainment and e-word of mouth) have statistically significant effect on brand loyalty of selected SMEs in South west Nigeria. It clearly indicated that there was a positive effect of social media marketing components (customer engagement, social interactions, customization, branded entertainment and e-word of mouth) on brand loyalty of the selected SMEs in Lagos.
Recommendation
Based on the findings of the study, it is recommended that SMEs should endeavor to always post an interesting social media advert that customers can engage with to Immerse, Feel, Identify, and act in order to achieve brand loyalty. They should be sharing current information about their brands at all times and prompt response to customers’ complaint or questions about their brand will boost SMEs and customers relationship. Engaging customer with branded content builds a dynamic relationship with consumers which further drive loyalty to the brand.
References
- Abimbola, T., & Vallaster, C. (2007).Branding organisational identity and reputation: SMEs as expressive organisations. A resource based perspective. Qualitative Marketing Research. An international journal, Vol. 10 No. 4, pp.416-30
- Acker, O., Grone, F., Lefort, T., & Kropiunigg, L. (2015).The impact of digitization and the internet on creative industries in Europe.
- Adikesvan, T. (2014). Management information Systems. 2nd ed. Akhatar, N., Ahmed, I., Jafar, H.Y., Rizwan, A., & Nawaz, J.M.( 2016). The impact of packaging, price and Brand Awareness on Brand Loyalty: A Reseller Perspective in mobile sector of Pakistan. International Review of management and Business Research, 5(3), pp.790-807
