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10 Lean Social Media Communication Strategies for SMEs

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De Gruyter Handbook of SME Entrepreneurship
This chapter is in the book De Gruyter Handbook of SME Entrepreneurship

Abstract

In the chapter titled “Lean Social Media Communication Strategies for SMEs - Exploring the Field of Risk-Adjusted Lean Social Media Communication Strategies in the Context of the Lean Startup Method for SMEs,” Katrin Kizilkan and Maximilian Wagenknecht present how the Lean Startup Method can improve digital communication through active control of lean and targeted communication. This chapter provides a first attempt where parts of the Lean Startup Method are combined with social media communication to create a risk-adjusted lean communication strategy. The theoretical content of the chapter is developed by a systematic literature review and an inductive content analysis to connect these theoretical concepts. The results indicate that social media must be understood as an opportunity to actively interact with the core customers and as a tool that must be continuously evaluated and readjusted. Additionally, the benefits of a lean strategy can lead to cost reductions in market research and the preservation and control of the customer base. The most important findings are compiled in a risk-adjusted Lean Social Media Strategy framework for practitioners and future research.

Abstract

In the chapter titled “Lean Social Media Communication Strategies for SMEs - Exploring the Field of Risk-Adjusted Lean Social Media Communication Strategies in the Context of the Lean Startup Method for SMEs,” Katrin Kizilkan and Maximilian Wagenknecht present how the Lean Startup Method can improve digital communication through active control of lean and targeted communication. This chapter provides a first attempt where parts of the Lean Startup Method are combined with social media communication to create a risk-adjusted lean communication strategy. The theoretical content of the chapter is developed by a systematic literature review and an inductive content analysis to connect these theoretical concepts. The results indicate that social media must be understood as an opportunity to actively interact with the core customers and as a tool that must be continuously evaluated and readjusted. Additionally, the benefits of a lean strategy can lead to cost reductions in market research and the preservation and control of the customer base. The most important findings are compiled in a risk-adjusted Lean Social Media Strategy framework for practitioners and future research.

Chapters in this book

  1. Frontmatter I
  2. Contents V
  3. About the Editors IX
  4. List of Contributors XI
  5. An Introduction to a Theory of SME Entrepreneurship 1
  6. Part 1: Novel Theories of Entrepreneurship in SMEs
  7. 1 SME Entrepreneurship and Entrepreneurship Theory: A Systematic Literature Analysis in the Light of Entrepreneurial Functions 21
  8. 2 Formal but Illegitimate? Examining the Mongrel Economy 41
  9. 3 SME Internationalization and Strategy Tripod Perspective – Evidence from an Emerging Economy 57
  10. 4 Internationalization of Small-sized Game Development Firms – A Born Global Theory Perspective 79
  11. 5 Entrepreneurial Investment Cycle – A Large-scale Longitudinal Study 97
  12. Part 2: SMEs from the Perspective of Different Levels of Analysis (Macro, Meso, and Micro)
  13. 6 Antecedents of Individual Ambidexterity at Three Hierarchical Levels: A Literature Review 115
  14. 7 Life Science Companies’ Engagement with their University-based Entrepreneurship Ecosystem: A Multi-Layered Approach 141
  15. 8 Linking Young SME Entrepreneurial Activity and Economic Development 163
  16. 9 Governance of Innovation in SMEs: No Place Like Home? 179
  17. 10 Lean Social Media Communication Strategies for SMEs 201
  18. 11 Challenges for Expatriate SMEs Entrepreneurs in a Rentier State Entrepreneurial Ecosystem 241
  19. 12 A Typology of Internet Functionalities to Develop Market Orientation in SMEs 255
  20. 13 Mimetic Isomorphism, Pluralistic Ignorance, and Entrepreneurial Decision-making in SMEs: A Socio-psychological Approach Explaining the Collective Diffusion of “Bad Practices” in an Organizational Field 281
  21. 14 Modelling the Collaborative Advantage of SMEs in Pursuit of Competitiveness: An Emerging Economy Case 301
  22. 15 Sustainable Collaborative Business Models for Energy Efficient Solutions – An Exploratory Analysis of Danish and German SMEs 327
  23. Part 3: Processes and Performance of SMEs
  24. 16 The Digital Transformation of SMEs 359
  25. 17 Are the “Guys who Play Games” Shaping our Economic Future? The Croatian Economy’s Potential for Digital Transformation 383
  26. 18 Should Entrepreneurs Effectuate? A Conceptual Examination on the Effects of Effectuation on Firm Performance 405
  27. 19 How do SMEs Perform in Developing Countries? The Case of Indonesia 421
  28. 20 The Role of Culture and Entrepreneurial Opportunities in SME Entrepreneurship: A Systematic Literature Review 445
  29. 21 Emerging Artificial Intelligence Methods for Predicting SME Growth: Opportunities and Challenges 467
  30. Part 4: Entrepreneurial Capital, Gender, and SMEs
  31. 22 Entrepreneurial Teams and Collective Dynamics: Toward an Eco(systemic) Perspective 495
  32. 23 The Impact of Entrepreneurial Capital on Preferences for External Financing: An Empirical Study of Ethnic Minority Business Owners in the UK 519
  33. 24 Internalizing Gender Equality: Narratives of Family Business Entrepreneurs 543
  34. 25 Success Factors of Digital Start-ups 559
  35. Part 5: SMEs and their Stakeholders: The Role of Customers, Investors, Employees, Suppliers, Communities, Governments, Trade Associations, etc.
  36. 26 The Multiple Responsibilities of SMEs and Entrepreneurs 579
  37. 27 Exploring Early Customer Portfolios of Start-ups: Capturing Patterns of Relationship Development States 599
  38. 28 The Role of Research Universities in Catalyzing Value Creation 619
  39. 29 Entrepreneurial Culture Creation through Employee Effectuation 643
  40. List of Figures 669
  41. List of Tables 671
  42. Index 675
https://doi.org/10.1515/9783110747652-011

Chapters in this book

  1. Frontmatter I
  2. Contents V
  3. About the Editors IX
  4. List of Contributors XI
  5. An Introduction to a Theory of SME Entrepreneurship 1
  6. Part 1: Novel Theories of Entrepreneurship in SMEs
  7. 1 SME Entrepreneurship and Entrepreneurship Theory: A Systematic Literature Analysis in the Light of Entrepreneurial Functions 21
  8. 2 Formal but Illegitimate? Examining the Mongrel Economy 41
  9. 3 SME Internationalization and Strategy Tripod Perspective – Evidence from an Emerging Economy 57
  10. 4 Internationalization of Small-sized Game Development Firms – A Born Global Theory Perspective 79
  11. 5 Entrepreneurial Investment Cycle – A Large-scale Longitudinal Study 97
  12. Part 2: SMEs from the Perspective of Different Levels of Analysis (Macro, Meso, and Micro)
  13. 6 Antecedents of Individual Ambidexterity at Three Hierarchical Levels: A Literature Review 115
  14. 7 Life Science Companies’ Engagement with their University-based Entrepreneurship Ecosystem: A Multi-Layered Approach 141
  15. 8 Linking Young SME Entrepreneurial Activity and Economic Development 163
  16. 9 Governance of Innovation in SMEs: No Place Like Home? 179
  17. 10 Lean Social Media Communication Strategies for SMEs 201
  18. 11 Challenges for Expatriate SMEs Entrepreneurs in a Rentier State Entrepreneurial Ecosystem 241
  19. 12 A Typology of Internet Functionalities to Develop Market Orientation in SMEs 255
  20. 13 Mimetic Isomorphism, Pluralistic Ignorance, and Entrepreneurial Decision-making in SMEs: A Socio-psychological Approach Explaining the Collective Diffusion of “Bad Practices” in an Organizational Field 281
  21. 14 Modelling the Collaborative Advantage of SMEs in Pursuit of Competitiveness: An Emerging Economy Case 301
  22. 15 Sustainable Collaborative Business Models for Energy Efficient Solutions – An Exploratory Analysis of Danish and German SMEs 327
  23. Part 3: Processes and Performance of SMEs
  24. 16 The Digital Transformation of SMEs 359
  25. 17 Are the “Guys who Play Games” Shaping our Economic Future? The Croatian Economy’s Potential for Digital Transformation 383
  26. 18 Should Entrepreneurs Effectuate? A Conceptual Examination on the Effects of Effectuation on Firm Performance 405
  27. 19 How do SMEs Perform in Developing Countries? The Case of Indonesia 421
  28. 20 The Role of Culture and Entrepreneurial Opportunities in SME Entrepreneurship: A Systematic Literature Review 445
  29. 21 Emerging Artificial Intelligence Methods for Predicting SME Growth: Opportunities and Challenges 467
  30. Part 4: Entrepreneurial Capital, Gender, and SMEs
  31. 22 Entrepreneurial Teams and Collective Dynamics: Toward an Eco(systemic) Perspective 495
  32. 23 The Impact of Entrepreneurial Capital on Preferences for External Financing: An Empirical Study of Ethnic Minority Business Owners in the UK 519
  33. 24 Internalizing Gender Equality: Narratives of Family Business Entrepreneurs 543
  34. 25 Success Factors of Digital Start-ups 559
  35. Part 5: SMEs and their Stakeholders: The Role of Customers, Investors, Employees, Suppliers, Communities, Governments, Trade Associations, etc.
  36. 26 The Multiple Responsibilities of SMEs and Entrepreneurs 579
  37. 27 Exploring Early Customer Portfolios of Start-ups: Capturing Patterns of Relationship Development States 599
  38. 28 The Role of Research Universities in Catalyzing Value Creation 619
  39. 29 Entrepreneurial Culture Creation through Employee Effectuation 643
  40. List of Figures 669
  41. List of Tables 671
  42. Index 675
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