THE INFLUENCE OF SOCIAL MEDIA MARKETING ON THE GROWTH OF SMALL AND MEDIUM SIZED ENTERPRISES IN MACEDONIA

Abstract

Social media was originally intended for people to share their moments and memories and to connect with people that they know. Over time though, social media has transformed into a powerful marketing tool that forever changed the way products and services are advertised. Nowadays, companies willing to market their products and services don’t do it through TV ads, newspaper ads, or radio. Instead, they market on social media platforms. This has become the norm for all modern companies, regardless of their size. The question is if all businesses benefit from the evolution of Social Media Marketing, or some of them decided to stick with the conservative marketing approaches as they find them more convenient considering the product or service they’re promoting. Maybe business owners are afraid to adopt the new ways of marketing, and they decide to play safe and practice what they already know. In today's digital age, social media platforms have revolutionized the landscape of marketing, offering businesses unprecedented opportunities to engage with global audiences. This study explores the profound influence of social media marketing on business growth. Through a comprehensive review of existing literature and analysis of case studies, this research examines how strategic utilization of social media channels enhances brand visibility, customer engagement, and ultimately, organizational profitability. The main objective is to find out if social media marketing is highly profitable for businesses in Macedonia and, consequently, if it directly influences business growth. This study investigates the impact of social media marketing on the growth of small and medium-sized enterprises (SMEs) in Macedonia. As digital platforms continue to redefine contemporary business landscapes, SMEs face both opportunities and challenges in leveraging social media for marketing purposes. This research adopts a qualitative approach, employing interviews and case studies with SME owners and marketing professionals. The findings underscore that social media marketing enhances brand visibility, customer engagement, and market reach for SMEs in Macedonia. However, challenges such as resource constraints, skills gaps, and algorithmic changes persistently affect marketing effectiveness. The study contributes insights into strategic social media practices tailored to local SME contexts, emphasizing the need for adaptive strategies to maximize growth opportunities. Future research directions include longitudinal studies to track evolving social media trends and their sustained impact on SME growth in Macedonian markets.