Paper #3

Online Marketing and the Performance of Small-Scale Enterprises in Nigeria: A Study of Selected SMEs in Ikeja, Lagos State, Nigeria

Oyedele Ola Olusegun, Oworu Oyefemi Olympus and Adbulganiyu Ibrahim Olakunle

Abstract: The study investigated Online Marketing and the Performance of Small and medium scale enterprises in Ikeja Local Government Area of Lagos State. Survey research design was employed for the study where 142 respondents (sample size) from the selected total estimated population of 221 SMEs for the study area and were gathered using structured questionnaire. Their responses were tested using appropriate statistical tools of SPSS package using the ANOVA, the correlation, and the regression too. Our study revealed that the Online Marketing affected the performance of SME positively which has allowed youths to be self-employed and created economic growth and regional development. Therefore, the study recommended that solving the performance of SME development can be single handedly done using Online Marketing. Hypothesis one shows correlation (r) value = 66.6% (0.666), at the P value of < 0.05, which shows that the regression model was fit. Hypothesis two shows that R2 of 0.452, and value of P > 0.05, adjusted R2 = 0.446, R2 measures the percentage of variation in the dependent variable caused by variation in the independent variable. This research provides recommendations extracted from findings that, businesses need to develop indigenous technology; new products or processes based on innovations; seek, commercialize or exploit new technology ideas to meet market needs, customer expectations/preferences and consumer demands and identify market opportunities.

Keywords: Online Marketing; SMEs; Performance; Lagos State; Business Performance.