RESPONSIBLE ENTREPRENEURSHIP VISION DEVELOPMENT AND ETHICS

Digital social media marketing for entrepreneurs:
boosting brand image and innovation potential
Panayiotis KETIKIDIS 1 , Adrian SOLOMON 2 ,
Lia NERSISYAN 3 , Felicia SIAVALAS 4
1,3,4
The University of Sheffield International Faculty, CITY College
2
South East European Research Centre
2
asolomon@seerc.org
Abstract: The diffusion of the digital era is perceived as a key driver of innovation and growth. Globalization
and access to information have changed the way entrepreneurship is implemented. Such a digital
driven society is implicitly drastically changing the way businesses interact with their customers and this
aspect provides a key competitive advantage for entrepreneurs. Nevertheless, since DSMM practices are still
in their infancy stage for entrepreneurs, there are various obstacles and acceptance issues (Royle and Laing,
2014; Beier and Wagner, 2014). One confirmed way of overcoming such obstacles is to identify the technology
acceptance level of the targeted population and to suggest mitigating strategies For this purpose, one
of the most utilized models for testing technology acceptance is the Unified Theory of Acceptance and Use
of Technology (UTAUT) model. This paper binds together marketing studies, technology/digitalization and
behavioural sciences in order to firstly understand how digital trends can boost entrepreneurs’ brand image
and potential for innovation and co-creation with their customers. Secondly, apply the UTAUT model on a
sample of entrepreneurs in order to identify their acceptance levels of DSMM practices and assess the actual
impact of DSMM practices on brand image and innovation. Finally, based on the survey findings, propose
recommendations for improved implementation of DSMM practices. The results show a strong interest and
perceived benefit of DSMM practices by entrepreneurs, however there is a general skill-gap and absence of
information on this recent topic which needs to be properly addressed.
Keywords: Entrepreneurship, competitive advantage, digital social media marketing, innovation, co-creation
Introduction
The diffusion of the digital era (globally) is perceived as a key driver of innovation and
growth. Implicitly, open innovation and co-creation are fully overlapping with the digital context
and their interdependency is more than just a necessity. Digital solutions (from digital
social media marketing to platforms for co-creation, virtual learning environments, crowdsourcing,
etc.) are core enablers of open innovation and recently, core enablers of the new