SOCIAL MEDIA ADVERTISING FOR MICRO AND SMALL ENTERPRISES IN GHANA

ABSTRACT Micro, small and medium size enterprises (MSMEs) have been identified as promoters of economic growth in the country. However, most managers of these MSMEs are unwilling to commit necessary resources towards market oriented activities because they have insufficient funds. Individual internet usage in Ghana has also increased from 5.44% in 2009 to 17.11% in 2012 and Facebook was the most visited website in Africa. The paper identifies the extent to which social media is a beneficial advertising tool over traditional advertising for micro and small firms in Ghana. This case study was exploratory in nature. Two micro and small enterprises in the Ghanaian fashion industry; Mina Evans and April Rust, were selected using convenience sampling. 60 respondents; 18 years and above were selected via random sampling for the second half of the study. Primary data was collected via one-on-one interviews and structured online questionnaires. Data was analyzed using content and descriptive analysis. Mina Evans and April Rust are solely on social media and prefer it to traditional advertising because of the reach and its interactive nature among many other reasons. Monitoring key performance indicators has made this advertising strategy effective as this helps them identify the needs of their target market. Ultimately, social media advertising has proven to be a successful advertising approach for both brands for various yet similar reasons. This paper seeks to inform other micro and small firms of the benefits of this advertising tool.