AN EXAMINATION OF PROBLEMS AND PROSPECT OF SOCIAL MEDIA CONTENT MARKETING AMONG E-COMMERCE BUSINESSES IN NIGERIA

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

E-commerce encompasses more than the simple combination of electronics and commerce. It represents a revolutionary approach to conducting business through a platform that fundamentally alters the rules of commerce. Consequently, the focus is primarily on strategy and business administration rather than on technology. When used effectively, e-commerce and the internet have the potential to serve as tools for promoting long-term, environmentally-friendly economic expansion (McGregor, 2020). The profound influence of electronic commerce on the global economy and societies undoubtedly enhances economic efficiency, efficacy, and profitability for those involved in e-commerce. Consequently, it fosters the growth of the information society (Li, 2022). The e-commerce industry in Nigeria has experienced significant expansion in recent years, propelled by the surge in internet accessibility, a youthful and technologically adept populace, and the escalating use of mobile devices. E-commerce platforms such as Jumia, Slot, and other online retailers are leading the way in this surge of digital retail. The success of these firms relies heavily on their capacity to engage clients and generate sales using digital platforms, such as social media.

Social media refers to technology-driven platforms that enable people to generate and distribute information [Kaplan et al., 2019]. Social media can be defined as platforms that facilitate communication, content creation, and content sharing among users. It also serves as a toolkit for marketers, advertisers, and entrepreneurs [Lewis, 2018]. Social media marketing can be defined as the use of social media platforms to persuade and communicate with target groups, fostering mutual connection, as opposed to traditional marketing methods. Social media has a significant impact on consumer attitudes and perceptions of brands. It affects all stages of the consumer journey, including information search, brand awareness, purchasing behaviour, post-sale communication, and assessment [Ubong, 2020]. Numerous studies have examined and deliberated on the notion of social media marketing, revealing its intricate framework that cannot be effectively overseen by an individual or a solitary department [Felix et al., 2017]. Hence, it is crucial to thoroughly understand the motivations of the target audience for engaging with the business and disseminating its content in social media marketing.

According to the Content Marketing Institute, content marketing is a strategic marketing approach that aims to attract and acquire a specific target audience by creating and sharing valuable, consistent, and relevant content. The ultimate goal is to convert this audience into profitable customers [Content Marketing Institute, 2017]. Content marketing is the process of creating and distributing content to attract and engage the target audience, making products and services more appealing, establishing a relationship with them, and achieving measurable results. This involves creating awareness and reaching the target audience, ultimately mobilising them towards the firm [Pelumi, 2018]. Social media content marketing is crucial for effectively presenting content to consumers and enticing them to stay engaged with brands [Ahmad et al., 2017]. 

The advent of the digital age has altered customer expectations for brand communication, facilitated by various social media platforms [Killian and McManus, 2017]. Establishing an emotional connection with the members of its social network is crucial for a brand in order to adapt to this transition. The reason for this is that emotional connection fosters the consumer's allegiance and endorsement of the brand. Hence, it is imperative for companies to generate useful content that enhances communication and fosters a sense of intimacy by prioritising the quality of interaction between the brand and the consumer on social media [Thane et al., 2018]. Marketers should prioritise monitoring and engaging with individuals' actions in the digital realm to enhance communication effectiveness. Additionally, marketers should empower and motivate individuals to actively participate in this process [Portas, 2017]. In the current era, where the significance of shared content on social media surpasses mere presence, it is crucial for brands and firms to recognise the consumer as a significant force and generator of value through social media. Therefore, they should prioritise the conversion of their followers into loyal consumers. Therefore, it is imperative to involve customers in the decision-making process concerning the brand and cultivate their advocacy for the brand on social media platforms. The corporation should not overlook the opportunities presented by innovative followers, but rather leverage them to its benefit [Akeem, 2023].

Social media content marketing entails the creation and dissemination of valuable information on social media platforms with the aim of attracting and engaging a specific audience (McManus et al., 2022). For e-commerce enterprises, this encompasses product promotions, customer reviews, captivating posts, and interactive content. Utilising social media in a strategic manner can result in heightened brand exposure, strengthened customer connections, and amplified sales. Social media content marketing has fundamentally transformed the manner in which organisations communicate with their customers, providing a platform for engagement, brand promotion, and customer acquisition (Omor, 2021). Effective use of social media can be a transformative factor for e-commerce enterprises in Nigeria, considering the country's expanding digital economy and rising internet accessibility. Although there are chances, numerous e-commerce businesses face substantial hurdles when it comes to fully using the potential of social media content marketing. The objective of this study is to analyse the challenges and potential opportunities of social media content marketing in the e-commerce sector in Nigeria. The research aims to offer practical insights that can assist e-commerce enterprises in optimising their social media strategy, overcoming obstacles, and utilising social media for growth. This will be achieved by analysing the issues encountered and finding potential opportunities.

1.2 Statement of the problem

In Nigeria's dynamic digital economy, social media content marketing has become an essential tool for e-commerce enterprises aiming to increase brand exposure, interact with customers, and boost sales. Despite the considerable advantages of social media marketing, e-commerce enterprises in Nigeria encounter certain important obstacles that impede the successful execution and enhancement of these strategies.

E-commerce enterprises, particularly startups and small and medium-sized enterprises (SMEs), sometimes function with restricted budgets and scarce resources. This limits their ability to allocate resources towards the development of top-notch content, social media promotion, and sophisticated marketing technologies.  According to Keller (2019), a lack of sufficient financial resources might hinder the capacity to produce engaging content and conduct successful social media campaigns, resulting in lower levels of audience interaction and less return on investment (ROI). Due to limited resources, numerous e-commerce enterprises face challenges in assessing the efficacy of their social media content marketing endeavours and comprehending its direct influence on sales and customer acquisition. The challenge of monitoring and evaluating performance measures impedes their capacity to make informed decisions based on data (Keller, 2019: Amana et al., 2022). Ogaga (2023) suggests that the Nigerian e-commerce business is growing more congested, as multiple participants vie for customer attention. The high level of competition in the market makes it difficult for individual firms to differentiate themselves and get the attention of their intended audience using social media. Fierce competition can diminish the effectiveness of social media content, posing challenges for businesses to distinguish themselves and allure prospective clients.

As globalisation speeds up and standardisation becomes more widespread, the quality of goods and services becomes increasingly similar. As a result, conventional consumption patterns struggle to capture the attention of customers (Saka, 2021). As the economy and living standards grow rapidly, customers' demand for items is no longer solely centred on material aspects, but also emphasises spiritual requirements. In the current age of social media, businesses are increasingly focused on their brand image, while consumers are actively seeking out brand information and aligning themselves with brands that reflect their beliefs (Chibuzor, 2023). Evidently, both organisations and consumers are increasingly focussing on content marketing. Given this consideration, content marketers must exercise caution to ensure that their material aligns with and resonates with the religious or superstitious beliefs of every customer. This can be a significant issue because if the material fails to align with the customer's beliefs, their desire to make a purchase becomes uncertain (Nta, 2023).

To succeed in the competitive digital marketplace, e-commerce enterprises in Nigeria must address the challenges and examine the potential of social media content marketing. This study will provide significant insights into the obstacles and possibilities linked to social media marketing, assisting firms in refining their strategies, improving engagement, and stimulating growth.

Objectives of the study

The primary objective of this study is to critically examine the problems and prospect of social media content marketing among E-commerce businesses in Nigeria. Specific objectives of this study are to:

To examine the specific social media content marketing strategies currently employed by E-commerce businesses in Nigeria.

To investigate Challenges Faced by E-Commerce Businesses in Nigeria

To analyze the Prospects and Opportunities in Social Media Content Marketing for E-Commerce Businesses in Nigeria

To offer recommendations for E-commerce businesses to overcome identified challenges and capitalize on opportunities

1.4 Research Questions

The following research questions which are in line with the objectives of this study will be answered in this study:

Which of the social media content marketing strategies is currently employed by E-commerce businesses in Nigeria?

What are the Challenges Faced by E-Commerce Businesses in Nigeria?

What are the Prospects and Opportunities in Social Media Content Marketing for E-Commerce Businesses in Nigeria?

What are the recommendations for E-commerce businesses to overcome identified challenges and capitalize on opportunities?

1.5 Research Hypotheses

To determine the effectiveness of this study, the following research null hypotheses will be formulated to guide the study and it will be tested at 0.05% levels of significance.:

Ho: There are no Prospects and Opportunities in Social Media Content Marketing for E-Commerce Businesses in Nigeria.

Ha: There are Prospects and Opportunities in Social Media Content Marketing for E-Commerce Businesses in Nigeria.

1.6 Significance of the study

The importance of this study resides in its capacity to provide extensive understanding of the difficulties and possibilities of social media content marketing for e-commerce enterprises in Nigeria. This research is of utmost importance for a wide range of stakeholders, including e-commerce enterprises, marketing experts, policymakers, and the academic community.

The report examines the challenges encountered by e-commerce enterprises when using social media content marketing strategies and offers practical insights to assist organisations in improving their marketing operations. This encompasses the process of enhancing the creation of content, refining ways to increase engagement, and utilising social media platforms in a more efficient manner. The research provides strategic suggestions derived from the identified obstacles and opportunities, allowing firms to create more focused and effective social media marketing strategies. This can result in enhanced brand visibility, heightened customer engagement, and greater sales success.

Moreover, comprehending the restrictions and drawbacks encountered by e-commerce enterprises enables more effective distribution and utilisation of resources. The study can assist organisations with constrained budgets in prioritising their social media marketing endeavours, thereby optimising their existing resources. Research on successful social media techniques and types of content can give e-commerce enterprises an advantage in the highly competitive Nigerian market. By utilising the research's discoveries, companies can distinguish themselves from rivals and improve their market standing.

Moreover, the study's results can provide policymakers and industry regulators with valuable insights into the specific requirements and difficulties encountered by e-commerce enterprises in Nigeria. This might result in the formulation of supportive policies and initiatives that encourage the adoption of successful social media marketing strategies and enhance digital literacy. The research aids in the development of industry standards for social media content marketing. Industry associations and support organisations can utilise the acquired knowledge to create educational programs and provide materials specifically designed for e-commerce enterprises.

Moreover, this study contributes to the scholarly body of knowledge on social media content marketing and e-commerce, specifically within the Nigerian setting. This case study offers crucial theoretical insights for understanding the dynamics of social media marketing in emerging nations. The research has the potential to identify deficiencies and areas that require further exploration, therefore facilitating the development of new studies on social media marketing techniques, customer behaviour, and e-commerce trends.

1.7 Scope of the study

Broadly, this study focus is to critically examine the problems and prospect of social media content marketing among E-commerce businesses in Nigeria. Specifically, this study seeks to examine the specific social media content marketing strategies currently employed by E-commerce businesses in Nigeria and investigate Challenges Faced by E-Commerce Businesses in Nigeria. 

Further, this study will focus on analyzing the Prospects and Opportunities in Social Media Content Marketing for E-Commerce Businesses in Nigeria and it also seeks to offer recommendations for E-commerce businesses to overcome identified challenges and capitalize on opportunities.

 The study is carried out in Nigeria. 

1.8 Limitations of the study

As with any human endeavour, the researchers experienced many minor constraints during the investigation. The main limitation was the lack of extensive literature on the subject, due to the limited availability of data regarding the analysis of challenges and opportunities of social media content marketing in E-commerce enterprises in Nigeria. Hence, a significant allocation of time and exertion was necessary to ascertain the appropriate materials, books, or information and amass data. 

Furthermore, this study is constrained by its small sample size and narrow geographic scope, focussing solely on Nigeria. Therefore, the conclusions of this study cannot be extended to other situations, thus requiring further investigation. 

Moreover, the researcher's restrictions were primarily due to financial constraints, as they are a student without any source of income to sustain themselves. The exorbitant transportation expenses at the research site, exacerbated by the prevailing inflation in Nigeria, posed a challenge in meeting the expenditures of transportation.

Furthermore, the researcher faced a time constraint due to the need to do this research while still fulfilling the obligations of attending lectures and participating in other educational activities.

1.9 Definition of terms

Content marketing: Content marketing is a marketing strategy used to attract, engage, and retain an audience by creating and sharing relevant articles, videos, podcasts, and other media. This approach establishes expertise, promotes brand awareness, and keeps your business top of mind when it's time to buy what you sell.

Customer loyalty: Customer loyalty is a measure of a customer's likeliness to do repeat business with a company or brand. It is the result of customer satisfaction, positive customer experiences, and the overall value of the goods or services a customer receives from a business.

Brand awareness: brand awareness is the measure of how memorable and recognizable a brand is to its target audience. Establishing brand awareness is a powerful marketing strategy that leads consumers to develop an instinctive preference towards a brand and its products.