Role of Social Media Marketing in New Venture Growth in Kenya
DOI:
https://doi.org/10.47672/ije.2105Keywords:
Social Media, Marketing, Venture GrowthAbstract
Purpose: The aim of the study was to assess the role of social media marketing in new venture growth in Kenya.
Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries.
Findings: The study found that active engagement on platforms like facebook, instagram and twitter can lead to increased customer acquisition and retention rates. Moreover, social media enables direct interaction with customers, allowing businesses to gather valuable feedback and tailor their products or services to meet customer needs more effectively. Additionally, leveraging social media analytics provides valuable insights into consumer behavior and market trends, enabling new ventures to make data-driven decisions for sustainable growth. Overall, integrating social media marketing strategies into their overall marketing plan can significantly contribute to the success and expansion of new ventures.
Implications to Theory, Practice and Policy: Social influence theory, technology acceptance model and resource-based view may be used to anchor future studies on assessing the role of social media marketing in new venture growth in Kenya. In terms of practical implications, it is crucial to encourage new ventures to adopt data-driven decision-making processes through the use of social media analytics tools. On the policy front, advocating for initiatives that promote digital literacy and provide incentives for new ventures to invest in social media marketing capabilities is essential.
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Copyright (c) 2024 Vivian Komen
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