Study: Social media not a success factor for SMEs
According to a study by the University of Liechtenstein and the Vienna University of Economics and Business, SMEs are indeed increasingly active on social media, but so far without any measurable business success.
The use of social media has so far only paid off for large companies, namely those that use social media proactively, innovatively and with a willingness to take risks, i.e. in an "entrepreneurial" manner. For SMEs, on the other hand, no effects on corporate success have been identified. However, Sascha Kraus from the University of Liechtenstein and Isabella Hatak from the Vienna University of Economics and Business, the project leaders of the study, suspect that the main reasons for this are the poorer framework conditions.
According to the project managers, the first thing needed was a positive attitude towards social networks on the part of the entrepreneur. Furthermore, an effective allocation of resources as well as a professionally suitable social media manager with sufficient free capacity is required. In order to be successful in social networks, a company must above all be prepared to act "entrepreneurially" and create its own markets with foresight and not just react to customer needs.
