Social Media Management and Performance of Small and Medium Enterprises (SMEs) in Oyo State

This study examines the influence of social media management on the performance of Small and Medium-Sized Enterprises (SMEs) in Oyo State, Nigeria. The study employs a mixed-methods approach, combining qualitative interviews and quantitative surveys to gain comprehensive insights into the subject matter. The research is guided by theoretical frameworks exploring social media marketing, brand engagement, customer relationship management, and digital marketing performance metrics. The population comprises the SMEs with the highest numbers of registered businesses in Oyo State which has a large concentration of SMEs involved in activities across various industries from manufacturing, construction, agriculture and other sectors in Nigeria. A purposive sampling technique was used. Findings show that SMEs (social media management component (customer engagement, social interactions, customization) influence sales growth of SMEs in Southwest Nigeria (Adj R2=0.672; p=0.000, Q2 =0.450), social media management component (customer engagement, social interactions, customization) influence customer retention of SMEs in Southwest Nigeria (Adj R2=0.651; p=0.000, Q2 =0.345) and brand loyalty of SMEs (Adj R2=0.693; p=0.000, Q2 =0.345). The study thus recommends that the Owners of SMEs should create meaningful and entertaining content on their social media platforms; small business managers should interact with customers on their various social media platforms by responding to comments, posts, suggestions, and questions to retain them. Finally, it was suggested that SMEs post social media advertisements that customers can engage with to immerse, feel, identify, and engage customers with branded content to foster a dynamic relationship, increasing brand loyalty.