Unlocking the Entrepreneurial State of Mind for Digital Decade: SMEs and Digital Marketing

Abstract

Given the current technological changes, entrepreneurs need to transform their businesses and become more and more digitalized. The process of digital transformation through digital marketing tool adoption is decisive for SMEs’ economic development. It may lead to an increase in revenues, may contribute to the transformation of business models, and may contribute to the increase in the sustainability of SMEs. Aspiring to understand what entrepreneurs think and perceive about their digital knowledge and tools to promote their business online, the authors performed a study to determine and quantify the perceived usefulness of digital tools used by SME owners, by using two different methods of research. They are represented by quantitative analysis and multi-criteria decision analysis, used to analyse the motivations, intentions, and characteristics of 333 entrepreneurs and the businesses they run. As a consequence, a matrix with 12 typologies of entrepreneurs was generated according to their behaviour towards digital marketing tools implemented for business. The obtained outcomes show the incremental potential interest of specialists and academia for SME entrepreneurs with intermediate digital knowledge. In this context, they might want to improve their skills to achieve entrepreneurial resilience with self-learning opportunities.