Leveraging social media for entrepreneurial success: a systematic review of the literature

Abstract

Social media has become a vital tool for entrepreneurs, enabling them to expand their reach, enhance brand visibility, and engage directly with customers. Platforms like Facebook, Instagram, and LinkedIn provide entrepreneurs with cost-effective ways to access global markets, promote their products, and foster meaningful relationships with consumers. While social media has facilitated the growth of entrepreneurship by lowering barriers to entry, challenges such as managing online presence, handling negative feedback, and addressing privacy concerns persist. This study aims to systematically review existing literature to explore how entrepreneurs can strategically leverage social media for growth, examining its economic benefits, challenges, and best practices. Findings from the review reveal that social media offers entrepreneurs substantial advantages, including increased brand awareness, enhanced customer engagement, and improved sales performance through direct sales features and promotional campaigns. Additionally, social media enables networking, resource acquisition, and business model innovation. However, challenges related to platform management, algorithm changes, and privacy risks must be navigated. Based on these findings, the study recommends that entrepreneurs develop a clear social media strategy, actively engage with customers, stay updated with trends, and leverage data analytics to optimise their marketing efforts. Building brand communities and fostering customer loyalty through personalised communication and consistent interaction can further support business growth.

Keywords: {'name': 'entrepreneurship, success, growth, social media, digital marketing, leveraging'}

Authors & affiliations

Elvis Madondo
Affiliation not supplied

Hummerly Dhoba
Affiliation not supplied

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